Lu Zhengwei: Financing Cheap, Taxes High

Lu Zhengwei, Industrial Bank's chief economist:
Currently general commercial banks weighted average lending rate in the first quarter of 2016 was 5.67%, reached the lowest level in history. Reflected in the report as a funding body corporate level, that is, since 2015, industrial enterprises "Interest expense" cumulative acceleration slowed, and eventually into negative growth in the second quarter of 2015, is now close to minus 10% for the year, the biggest decline since 2000 ; YoY growth in financial expenses also fell, down near historic lows.

...Estimates showed that the current "interest expense / main business income" and "financial expenses / main business income" are at historically low levels in 2000 since the data disclosed. Corresponding, "the main business tax and surcharges / main business income" is at historically high levels. It may also be because of this, this year's May 9, "the first quarter trend ─ asked the authorities to talk about the current Chinese economy" was clear: "reduce costs, we will build the overall tax burden down, the unreasonable charges cancel, the administrative examination and approval to cut down. "
iFeng: 鲁政委:中国经济低迷主因探略 谁才是元凶?

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