本文分析日本钢铁行业去产能的经验,即提高融资成本能更为有效地化解过剩产能。中国情况与之类似,通过行政手段淘汰产能的速度远不及产能扩张的速度。为此,推行差异化的利率政策,发挥融资成本的调节作用,有助于解决国有企业“大而不能倒”问题,化解过剩产能。 This article analyzes the experience of Japan’s steel industry in terms of capacity de-capacity, that is, raising financing costs can more effectively resolve excess capacity. Similarly, in China, the elimination of production capacity through administrative means is far behind the expansion of production capacity. To this end, the implementation of differentiated interest rate policy, play a regulatory role of financing costs, help to solve the state-owned enterprises “big and can not pour ” problem, to resolve excess capacity.