Supply-Side Structural Reforms of China’s Industries

Huang Qunhui (黄群慧)
Institute of Industrial Economics, Chinese Academy of Social Sciences, Beijing, China
Abstract: Supply-side structural reforms are structural adjustments and institutional
reforms to address the mismatch between supply and demand and improve TFP. The
mismatch is exhibited at the supply side and arises from structural contradictions and
must be addressed through reforms. Supply-side structural reforms can be analyzed at
the levels of firms, industries and government to arrive at theoretical and systematic
conclusions that offer practical guidance. Based on this perspective, this paper proposes
policy recommendations on how to deal with zombie firms, reduce cost for manufacturing
companies, deepen SOE reforms, eliminate overcapacity, implement “Made in China 2025”
and Internet+ strategies, promote Beijing-Tianjin-Hebei integrated development, as well as
develop the Yangtze River Economic Belt and the old industrial bases of the northeast.
Keywords: supply-side structural reforms, economic structure, momentum structure and
institutional mechanisms
JEL Classification: P21, Ll6, 043

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