Deepening of supply-side reform continues

In order to adapt to the economic new normal, deepening supply-side structural reform was an almost inevitable choice.

Now, further exploration of this new strategic task - its mode and means of implementation - is needed to achieve substantial progress.

The Decision of the Communist Party of China Central Committee on Some Major Issues Concerning Comprehensively Deepening Reforms in 2013 offers some guidelines for this undertaking, while the generally stable, positive and progressive trend of the Chinese economy provides both the foundation and space for deepening supply-side reform. But although the progress and experiences gained since the end of 2015 offer practical lessons for the implementation of Chinese structural reform, there are new challenges that need to be overcome.