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Supply-Side Structural Reform

China.org.cnUpdated: May 13, 2021

供给侧结构性改革

习近平指出,供给侧结构性改革“重点是解放和发展社会生产力”,“既强调供给又关注需求,既突出发展社会生产力又注重完善生产关系,既发挥市场在资源配置中的决定性作用又更好发挥政府作用,既着眼当前又立足长远”。自2015年首次提出之后,供给侧结构性改革成为当前中国经济工作的核心,其手段方法也伴随着中国社会经济的发展而变化:从2015年强调“三去一降一补”,到2017年强调重点在“破、立、降”上下功夫,再到2018年提出要在“巩固、增强、提升、畅通”八个字上下功夫。推进供给侧结构性改革,是以习近平同志为核心的党中央在综合分析世界经济长周期和中国发展阶段性特征及其相互作用的基础上,集中全党和全国人民智慧,从理论到实践不断探索的结晶。其不仅在理论上丰富了经济新常态理论,为中国特色社会主义政治经济学书写了新篇章,而且在实践上开创了中国改革发展、宏观调控和经济结构调整的新纪元。供给侧结构性改革也为打赢脱贫攻坚战、促进贫困地区加快发展提供了科学指引。

Supply-Side Structural Reform

According to Xi Jinping, the key to supply-side structural reform is to release and develop productive forces. The reform focuses on both supply and demand, aims to develop productive forces and improve relations of production, allows the market to play its decisive role in resource allocation and the government to better fulfill its functions, and looks to address both present and future needs. An idea first proposed in 2015, supply-side structural reform is the current priority in China's economic work.

China has adopted different policies to proceed with the reform in tandem with its economic and social development. In 2015, the reform focused on "cutting overcapacity and excess inventory, deleveraging, reducing costs, and tackling areas of weaknesses"; in 2017, the emphasis was on "cutting ineffective supply, fostering new growth drivers, and reducing costs"; and in 2018 the attention was on "consolidating, strengthening, upgrading, and ensuring unimpeded flows."

Supply-side structural reform reflects the theory and practice of the CPC Central Committee with Xi at its core, based on an overall analysis of the world economic cycle and the features of China's development, and the interaction between them. It enriches China's vision of the new normal economy and the socialist political economy with Chinese features, and also heralds a new era in the country's reform and opening up, macro regulation, and economic structural adjustment. Supply-side structural reform guides China's battle against poverty while accelerating the development of poor areas.

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