Supply-Side Structural Reform
Based on an in-depth analysis of the long cycle of the world economy and the new normal of China's economy, supply-side structural reform is one of the major strategies of the CPC and the Chinese government. It will guide the country's economic development and economic work now and in the future.
Xi Jinping emphasized the importance of supply-side structural reform at the 11th meeting of the Leading Group for Financial and Economic Affairs under the CPC Central Committee in November 2015. In his report to the Party's 19th National Congress, he pointed out that it is imperative to put quality first and give priority to performance, pursue supply-side structural reform as the main task, work hard toward better quality, higher efficiency and more robust drivers of economic growth through reform, and raise total factor productivity. He called for efforts to cut overcapacity, eliminate excess inventory, deleverage, reduce costs, strengthen areas of weakness, and achieve a dynamic balance between supply and demand by improving the allocation of available resources and increasing high-quality supply.
The Central Conference on Economic Work held in December 2018 pointed out that the focus of supply-side structural reform should be placed on "consolidating the progress already made, strengthening the vigor of market entities, upgrading industrial chains, and ensuring unimpeded flows."
The ultimate goal of supply-side structural reform is to meet demand. In order to meet demand, China must have a clear sense of market changes and understand current and potential demand, so that products can be made available through increased productivity to meet the growing material and cultural needs of the population.
In order to improve the quality of supply, China must weed out ineffective supply and ensure that supply is structured in a way that can effectively meet demand.
The fundamental approach to achieving this is in-depth reform. Institutions must be put in place to allow the market to play a decisive role in the allocation of resources. Further reform is also needed in administrative systems in order to break up monopolies and maintain a healthy factor market, so that the price mechanism can truly serve as a guide for resource allocation.
China's supply-side structural reform over the past few years has helped tackle structural problems in the economy, hold key economic indicators within an appropriate range, steadily enhance quality and performance, and promote a transition from made-in-China to created-in-China, from high speed to high quality, and from a big manufacturing country to a strong manufacturing country.
供给侧结构性改革
推进供给侧结构性改革，是中国共产党和中国政府在综合分析世界经济长周期和中国经济发展新常态的基础上作出的重大决策，是当前和今后一个时期经济发展和经济工作的主线。
2015年11月，习近平在中央财经领导小组第十一次会议上提出推进“供给侧结构性改革”这一重要战略决策。2017年10月，中共十九大报告提出，坚持质量第一、效益优先，以供给侧结构性改革为主线，推动经济发展质量变革、效率变革、动力变革，提高全要素生产率。坚持去产能、去库存、去杠杆、降成本、补短板，优化存量资源配置，扩大优质增量供给，实现供需动态平衡。2018年12月，中央经济工作会议提出深化供给侧结构性改革的方针，即在“巩固、增强、提升、畅通”上下功夫。
供给侧结构性改革，最终目的是满足需求，就是深入研究市场变化，理解现实需求和潜在需求，在解放和发展社会生产力中更好满足人民日益增长的物质文化需要。主攻方向是提高供给质量，就是减少无效供给、扩大有效供给，着力提升整个供给体系质量，提高供给结构对需求结构的适应性和灵活性。根本途径是深化改革，就是完善市场在资源配置中起决定性作用的体制机制，深化行政管理体制改革，打破垄断，健全要素市场，使价格机制真正引导资源配置。
几年来，中国坚持供给侧结构性改革的战略方向，着力破解经济运行中的结构性矛盾和问题，促进宏观经济运行始终保持在合理区间，推动经济发展质量效益的稳步提升，推进中国制造向中国创造、中国速度向中国质量、制造大国向制造强国的转变。
