Low interest rates on deposits encourage savers, especially households, to invest in fixed assets, rather than keep their money in banks. This leads to overcapacity in some sectors – reflected in China’s growing real-estate bubble, for example – and underinvestment in others.
中国金融抑制的负面影响主要表现为经济失衡。低存款利率鼓励储户、尤其是普通家庭投资资产，而不是将钱存在银行里。这样导致某些行业产能过剩——这体现在中国不断增长的房地产泡沫——而其他行业又投资不足。