Xi leads shift to 'supply-side' economics

'New normal' calls for govt action to tap into China's vast population for growth, experts say

Economists called it a "great signal", an "important change" and a "starting point of all innovations".

The Leading Group for Overall Reform, which was set up at the end of 2013 and is headed by President Xi Jinping, has been talking for the last couple of years about the economy's "new normal", which many say means new and challenging realities.