Supply-Side Reform

Supply-side reform draws ideas from the supply-side economics, a macroeconomic theory arguing that economic growth can be most effectively created by lowering taxes and decreasing regulations. It was adopted by the Chinese government as a policy in 2015 for the purpose of dealing with the structural imbalances of economy. It includes but is not limited to cutting housing inventories, eliminating superfluous manufacturing capacity, optimizing the structure of construction land supply, and reforming the urban planning management system to guarantee steady urban progress.