贷款替代

现在的问题是，我们不得不以俄罗斯贷款来替代外国贷款。

The issue now is that we are having to replace foreign loans with Russian loans .

这种现象的存在也就使得短期融资券在对商业银行的中短期贷款具有替代作用的同时，对商业银行的长期贷款形成了替代作用。

The existence of this phenomenon makes short-term financing bills in the short-term loans to commercial banks with an alternative role , and also forms a substitution for long-term loans .

企业短期融资券在优化商业银行资产结构、促进盈利模式的调整、提高银行资产管理能力和经营效率的同时，对商业银行短期贷款产生替代效应，增大银行经营风险。

Short-term financing bills market will help commercial banks improve asset structure and management , accelerate the upgrading of business models . At the same time short-term financing bills market has negative impacts on commercial banks , such as the substitution effect and possible increase of operation risk .

结果表明：股市筹资对银行贷款有明显替代作用，银行贷款对国企利润有显著促进作用；

The results show that : equity finance has substitution effect on loan , and loan improves the profit effectively .