Interest income on saving deposits and national debt obligations and other financial debentures issued by the state, shall be exempted from individual income tax.

储备存款利息，国债和国家刊行的金融债券利息，免纳小我私家所得税。

youdao

Low interest rates on rank deposits (often below the rate of inflation) depress saving and encourage the hold of physical assets.

银行存款的低利率(往往低于通货膨胀率)减少了储蓄，鼓励人们持有实物资产。

youdao

Low or negative real interest rates on deposits, including saving accounts, provides a low-cost source of funding for state-owned banks.

FORBES: China's Challenge: Balancing the State and Market

The most fruitful reform, notes Lardy, would be to end financial repression by liberalizing interest rates, which would increase real rates on deposits, thereby decreasing saving if the income effect is strong, and increasing consumption.

FORBES: China's Challenge: Balancing the State and Market