Difficult and expensive financing has been hindering Chinese market no matter the monetary policy is tight or loose. ANBOUND's visiting economist Zhong Wei believes that high risk-free interest rate of Chinese financial market directly leads to expensive financing. Risk-free interest rate constitutes about 2/3 of loan pricing. Only through lowering the RRR (required reserve ratio of deposits) or lowering interbank offered rate,can Chinese central bank effectively lead market’s fund price to go downward.