In the economic cycle down the quality of assets will be more obvious, nominally higher provision for coverage of the buffer actually very weak, greater upward pressure on the cost of credit.

• 中周期的经济下行对于资产质量的影响将比较明显，名义上高拨备覆盖率提供的缓冲实际上十分单薄，信贷成本上升压力较大。