The supply-side structural reform is to promote structural adjustment, correct the distortion of factor allocation, expand effective supply, improve the adaptability and flexibility of supply structure to demand changes, improve total factor productivity, better meet the needs of the broad masses of the people, and promote sustained and healthy economic and social development.
Extended Information From the clear statement of China Central Committee that "the supply-side structural reform should be promoted to improve the supply efficiency and quality of the supply system", the supply-side reform is a market-oriented government reform based on the supply constraints required by the market.
Judging from the phased tasks of supply-side reform, whether it is flattening the market access threshold, truly realizing the equalization of national treatment, reducing the degree of monopoly, relaxing administrative control, reducing financing costs, reducing taxes to benefit the people, or reducing the supply restrictions of production factors such as land, labor, technology, capital and management. In fact, they are all the contents of government reform.
Baidu Encyclopedia-Supply-side Structural Reform