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1st Ld: Xi calls for improved supply-side structural reform

Xinhua, January 22, 2017 Adjust font size:

Chinese President Xi Jinping on Sunday called for the improving of the supply-side structure to boost the quality of the Chinese economy.

Xi made the remarks during the 38th collective study held by the Political Bureau of the Communist Party of China Central Committee.

He said that pressing ahead with supply-side structural reform was an inevitable choice for developing the Chinese economy, which had entered the "new normal," and was a strategy that had to be established for China's macroeconomic management.

Xi said that China had to improve supply-side structure, starting with production to boost the quality and efficiency of the supply system, expand effective and medium-to-high-end supply, and increase the supply-side structure's adaptability to changes in demand, so the Chinese economy could move forward with improved quality, efficiency, equality and sustainability.

He said that currently constraints on China's economic development were mainly structural problems, existing in both supply and demand, adding that the main problem was on the supply side.

Chen Dongqi, a researcher with the Academy of Macroeconomic Research under the National Development and Reform Commission, delivered a lecture on the issue at the collective study and offered policy suggestions. Endi