The problem is that most of this investment is in the interbank market, meaning that SMEs ultimately face interest rates of more than 10% – and that does not include the added 3% for SMEs’ loan guarantees. These unsustainable high rates are transmitting major risks to the real economy.
问题在于这些投资的主要去向正是银行间市场，这意味着中小企业最终面临超过10%的利率——还不包括3%的额外的中小企业贷款担保。这一不可持续的高利率正在把巨大的风险转移给实体经济。