People's Daily Online - January 04, 2016
China will put more emphasis on supply side structural reform in 2016
to ensure sustainable and sound economic development. This is an
especially opportune time to do so since 2016 is the first year of
China’s 13th Five Year Plan.
In an exclusive interview with People’s Daily, an "authoritative
insider" offered his interpretation of the details of China’s supply
side structural reform.
Q: What are the implications of supply side structural reform?
A: There are numerous interpretations of the term. Based on China’s
current national condition, it can be understood as “supply side +
structural + reform,” which means starting from elevating the supply
quality, then restructuring the economy, reallocating resources and
expanding effective supply.
Q: Why is supply side structural reform being highlighted right now?
A: The reform was decided on after careful deliberation about China’s
economic situation. New economic risks are emerging from falling
economic growth, industrial commodity price, corporate profit and the
growth rate of fiscal revenue.
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