The report of the 20th National Congress of the Communist Party of China comprehensively summarizes the great changes in the new era in the past decade, and a very important content is, "We propose and implement the new development concept, focus on promoting high-quality development, promote the construction of a new development pattern, implement supply side structural reform, formulate a series of regional major strategies with global significance, and achieve a historic leap in China's economic strength. In the new era and new journey, we need to further deepen our understanding and understanding of supply side structural reform, make good use of supply side structural reform as a fundamental remedy for adjusting economic structure and transforming economic development mode, and promote the effective improvement of quality and reasonable growth of quantity in the economy. China's economic development has entered a new normal and is facing a complex situation of "three phases overlapping". Supply side issues such as overcapacity in traditional industries and insufficient supply of high-quality products are more prominent, and the adaptability of the supply structure to the demand structure is weakened. Since then, the "supply side structural reform" has been repeatedly mentioned in the "13th Five Year Plan" outline, the report of the 19th National Congress of the Communist Party of China, the "14th Five Year Plan" and the 2035 long-term goal outline, the report of the 20th National Congress of the Communist Party of China, and the Central Economic Work Conference in recent years. The practice of the new era fully proves that deepening the supply side structural reform has played an important role in effectively regulating the macro economy and promoting high-quality economic development. The focus of supply side structural reform is to liberate and develop social productivity, promote structural adjustment through reform methods, reduce ineffective and low-end supply, expand effective and mid to high end supply, enhance the adaptability and flexibility of the supply structure to changes in demand, and improve the total factor production rate.
Edit：Hou Wenzhe Responsible editor：WeiZe
Source：economic daily
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