Supply side reform a positive endeavor for businesses to embrace

The scary talk of millions of workers being laid off has heightened the pain of China's economic transformation, especially for those industries plagued by serious overcapacity such as coal, steel, cement and glass.

But that does not justify a pessimistic view of China's supply side reform that aims to address problems such as excess capacity, excess housing stock and unprofitable "zombie" companies.

Instead, the country's implementing of economic policies to facilitate industrial restructuring and improve the overall quality of goods and services provides an opportunity that all businesses can seize, not just the country's embattled manufacturers, as China becomes a consuming society.