Accelerate agricultural supply-side reform

Supply-side reform is the main theme of the No. 1 Central Document on agriculture this year. President Xi Jinping has reiterated that we should properly expand total demand, enhance structural reform of the supply side, increase the quality and efficiency of the supply system and strengthen sustainable economic growth impetus. The State Council, China's cabinet, also advanced cultivating new supply momentum to expand domestic demand.

The focus on supply-side reform shows the leadership's new understanding for China's macroeconomic policy and its emphasis in the future.

With supportive and preferential policies, China has made great achievements in agricultural and rural economic development. Crop production has increased for 12 consecutive years, and there's an abundant supply of major agricultural products. However, there are also many contradictions that need to be addressed.