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。
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.