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On Supply-side Reform
Jia Kang (贾康) and Su Jingchun (苏京春)
China Academy of New Supply-side Economics, Beijing, China
Abstract: After the 2008 financial crisis, reality prompts people to reflect on the
traditional theoretical frameworks of economics and the practical experiences based on
macro-control and “demand management.” The new reality also stimulates innovative
efforts to “connect theory with practice” and leads academia and decision-makers to pay
unprecedented attention to “supply management” regulation and structural supply-side
reforms. Based on the theoretical innovation of the “new supply-side economics,” this paper
systematically discusses China’s supply-side reform and its related issues from four levels—
the innovation of closely connecting theory with practice, the problem-oriented innovation
of re-making the momentum system under the new normal, the innovation for overall and
long-term goals based on comprehensive planning and systematic engineering, and the
innovation of institutional supply centered on reforms and modernization.
Keywords: supply-side reform, economic growth momentum, institutional supply
JEL Classification Codes: P21, F43, O43
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