More important, financial repression is contributing to a widening disparity between state-owned enterprises (SOEs) and small and medium-size enterprises (SMEs), with the former enjoying artificially low interest rates from commercial banks and the latter forced to pay extremely high interest rates in the shadow-banking system (or unable to access external financing at all).
更重要的是，金融抑制造成国有企业（SOEs）和中小企业（SMEs）差距越拉越大，前者享受商业银行人为的低利率，而后者则迫不得已向影子银行系统支付超高利率（或根本无法获取外部融资）。