之所以这样安排，一个好处是ESOP体制可以大幅减轻税负。

One of the main attractions of this arrangement is that the ESOP structure will bestow huge tax breaks on Tribune.

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因此，减轻税负可以在一定程度上提高我国银行业整体的经营效率。

So, to a certain extent, reducing the tax burden can improve the operation efficiency of China's banking.

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建议出台新的政策由国家投入资本金、减轻税负，控制在销售值的10％以内。

The proposal about issue new policy including state investment, reducing tax payment to10% of sales reve…

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As you can see, part of the reason why the dividend-earnings ratio-- especially in more recent years, since 1990-- has been declining is that corporations were trying to somewhat ease the tax burden on their shareholders by doing repurchase instead of dividend.

可以看出,股利收益比降低的部分原因,尤其是在近些年,从1990年起,有所降低的原因是,公司想通过将分红,改为股票回购的方法,多少减轻股东的税负

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