Research On The Fiscal And Tax Policies For Structural Reform Of The Supply Side In China

After 30 years of rapid growth,China's economy is experiencing periodic and systemic change.2012,China's GDP growth rate began to fall,in 2015 GDP growth rate has dropped from 7.8% to 6.9%,in the first half of 2016,the rate is only 6.7%.Our country had say goodbye to high-speed growth model which the GDP growth rate is about 10% in the past 30 years.Now it is going to a new normal economic development:economy benefit is going down,society debt continues to rise,the domestic consumer satisfaction has decline,the benefit from the labors is disappear and environmental problems worsen sharply…all in all,China's economic growth is slow down,the differentiation characteristics of transformation is more obvious,structural adjustment is full of pain,early stimulate demand-side policies is not completely ‘digesting',the contradictions are increasingly and deeply.This change is not only affected by the global economic slowdown after the financial crisis,but also required by the structural contradictions hidden in the rapid growth of economy in China for many years.Chinese government has deeply felt to stimulate demand-side policies can't solve the current problems,if continues such a situation inevitably lead to more and bigger problems in the future.Standing at the crossroads of economy,our government has chosen the structural reform of the supply side,the perspective of the supply-side of macroeconomic management thought is put forward.It is necessary guiding ideology and major strategic measure for China to promote the development of ‘the new normal'.Structural reform of the supply side has received common concerns from all society,led to a different perspective to understanding the reform of the supply side,including ideological and theoretical perspective,practical operation perspective,resource perspective,capital perspective,science and technology innovation perspective,monetary perspective,fiscal and taxation system perspective,industry management perspective and so on.Finance as the basis of the national administration,provides great supports and guarantees for every perspective and every field.It has unique advantages in supporting the structural reform of the supply side,it can provide high efficiency,accurate and favorable policy and regulation on the economic operation.It is the most important tool to realize the structural reform of the supply side.At the same time,theimprovement of the quality of supply system is also important for the construction of financial modernization.The article chooses fiscal and taxation policy perspective,and focuses on how to promote the reform of the supply side,choose what kind of pointcut should be on the supply side reform,how to,how to do,finally realizes the Supply-side Reform goals.The research on the public fiscal and taxation policies encouraging structural reform of the supply side is a systematic and complicated project.The article present connotative meaning of the structural reform of the supply side,on this basis,deduces the key focus on the Supply-side Reform--structural adjustment,science and technology innovation,the quality of production factors,and deduces mechanism of action of fiscal and taxation policies affect the supply side,analysis current fiscal and taxation policy in detail,uses empirical analysis method to inspect the fiscal and taxation policies' effect,discuss the existing problems and reasons,through analysis the experience of foreign reform about the supply side,finally put forward the fiscal and taxation policy optimization measures.The mainly structure of this paper is divided into five parts:The first part is about introduction and theoretical analysis.This part mainly introduces the research background and significance,reviews and comments on the related literature of domestic and foreign researches,indicates the research contents and methods of this paper,at the same time points out the innovation and deficiency.Theoretical analysis is based on the full text content,arrangement and the comprehensive induction of relevant literature,illustrates the meaning and function of focus of structural reform of the supply side,analyzes the mechanism of action of the fiscal and taxation policies affect on the structural reform of the supply side,lay a theoretical foundation for further analysis.The second part illustrates current fiscal and taxation policies on the supply side and gives the empirical test.In the current policies analysis,mainly from the industrial structure adjustment and technology supply and human capital supply these three aspects analyze the current fiscal and taxation policies.In every aspect of the analysis,high lightly analyzed the main spending and adjustment of the direction.Though the empirical method to examine the industrial structure adjustment model,technology supply model and human capital supply model under the existing policy system.Give the evaluation onthe text results.The third part discusses the problems and causes.According to the analysis of the earlier parts,discusses the problems and shortages in the fiscal spending,government procurement and tax policy,and figures out the institutional reasons which cause the inefficiency in structural reform of the supply side in China.The forth part is introduction of the international reform about the supply side.This part mainly analyzes the reform of the supply side of the United States,Britain and South Korea,and the use of fiscal and taxation policies in the reform,the inductive analysis of the successful experience of these countries as well as the characteristics of the fiscal and taxation policy,put forward some viewpoints are needed to pay attention to in the reform.It will become reference for our country.The fifth part is about policy recommendation.In this part the optimal directions and concrete measures are given.According to the above theoretical analysis and practical analysis,the empirical conclusion and draw lessons from abroad,first put forward the mainly direction of the fiscal and taxation policies.And on this basis,with the present reform goals,put forward specific fiscal and taxation policy measures.