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Xi urges sound planning for supply-side structural reform

Xinhua, January 26, 2016 Adjust font size:

Chinese President Xi Jinping on Tuesday urged authorities to formulate targeted and specific plans to deliver structural reform on the supply side.

Sound planning is the foundation for supply-side structural reform, Xi told a meeting of the Central Leading Group for Financial and Economic Affairs.

He stressed the importance of extensive research in current economic conditions and called for authorities to have clear objectives.

Reform tasks should be specified and a responsibility-tracking system should be put in place, he added.

To address problems such as overcapacity, the government has pinned hopes on supply-side structural reform, which focuses on better provision for high-quality goods and services and lower costs for businesses.

China's economy grew by 6.9 percent year on year in 2015, its lowest annual expansion in a quarter of a century. Endi