BEIJING – Financial repression – government policies that create an environment of low or negative real interest rates, with the goal of generating cheap financing for public spending – has long been a key feature of Chinese economic policy. But, with funding costs for businesses trending up, this is finally starting to change.
北京—金融抑制——即通过政府政策创造一种低甚至负实际利率环境，以此为公共支出营造廉价融资——是中国经济政策的长期重要特征。但是，随着企业融资成本的升高，这一局面终于开始改变了。