In an interview conducted by the Financial Times on February 4, 2021, Prof. FANG Ming of ICFS said that the reduction of traditional monetary policy interest rates to a very low level would create five risks: first, the risk of monetizing fiscal policy; second, the risk of the financial markets, especially the stock markets; third, the risk of dematerialization of financial institutions; fourth, the moral hazard of enterprises or households; and fifth, the risks of currency exchange rate and the international status of the currency.