BEIJING -- Offshore debt at Chinese banks took the biggest drop in five and a half years last fall, in what capital market watchers say points to a credit crunch triggered by cash-strapped property developer China Evergrande Group's brush with default.
Outstanding foreign debt at commercial banks and other depository corporations stood at $1.18 trillion at the end of September, down 6% from the end of June, according to quarterly data from China's State Administration of Foreign Exchange.
