A Study On The Realization Path Of Structural Reform On Supply Side In China

Since the Central Economic Working Conference in December 2015,supply-side structural reform has been one of China’s hot economic and social topics.Until now,there have been reviews of supply economics,discussions of related theories,as well as exploration and practice of supply-side structural reforms.There are both consensus and controversy,together with achievements and confusion.Currently,it is still an important issue that needs to be furthered on how to promote theoretical research and practical exploration.Meanwhile,socialism with Chinese characteristics has entered a new era,and China’s economy has also entered a period of high-quality development.The transformation of development approach,optimization of economic structure,and transformation of growth momentum face major challenges.It is urgent to continue to improve high quality supply-side structural reforms.This dissertation takes a problem-oriented approach on the basis of analysis of current development and theoretical structure,explores the problems and causes in the supply-side structural reform,and proposes the path and policy recommendations to promote and deepen the supply-side structural reform.The main contents include:First,a time-ordered literature review of domestic and foreign studies on the theory of supply management and demand management.Foreign literature summarizes the theoretical research on supply and demand from the era of mercantilism to Marx.The domestic literature summarizes the supply and demand of different periods in China,and clearly establishes that the theoretical basis for implementing China’s supply-side structural reforms is not the Western supply-side economics,but the political economy of the socialism with Chinese characteristics.Second,the study and establishment of the related theoretical research on supply-side structural reform.Starting from the characteristics of demand management and supply management,this part analyzes the necessity of China’s supply-side structural reform,defines its connotation and path,and establishes the relationship among the supply side structural reform and high-quality economic development.This part focuses on answering the ―Why‖ and ―What‖ questions on China’s supply-side structural reform.Third,sorting out the concrete practice of macroeconomic regulation and control in various development stages since the founding of the People’s Republic of China in the order of time,and analyzing the current status of economic management around the supply-side structural reforms.On this basis,short-term and long-term paths for China’s supply-side structural reform have been proposed.This part of the study answers the question of ―how‖ and ―what to do‖ in China’s supply-side structural reforms.Fourthly,the focus of this study is on the short-term practice of China’s supply-side structural reform.It is divided into five chapters on the five priority tasks--cutting overcapacity,reducing excess inventory,deleveraging,lowering costs,and strengthening areas of weakness,with each chapter focusing on one task.The respective chapter analyzes current development and problems and causes,followed by the final suggestion of task accomplishment paths.Fifth,based on the significant strategy of China’s economy turning to high-quality development,policy recommendations are put forward on how to promote China’s supply-side structural reform,and further proposing paths to realize China’s supply-side structural reform.There are four main innovations in this study: first,getting rid of the limitations of most researches which are constrained theoretically by the supply-side economics in studying issues on supply-study structural reforms in China.This study systematically combines the theory of supply management and demand management,and indirectly categorizing the theoretical basis to the political economics of Marxism,deepening this study’s theoretical basis;second,systematically analyzing the specific practice of China’s macroeconomic regulation and control,directly attributing the theoretical basis of China’s supply-side structural reform to the political economy of socialism with Chinese characteristics,and clearly establishing the correct theory and political direction for advancing the reform;third,according to the characteristics of supply management theory,the short-term and long-term paths of supply-side structural reform are proposed,analyzing and clarifying different tasks and their paths according to reform stages,delivering a more systematic study;fourth,policy recommendations to promote China’s supply-side structural reform in the new era are provided to meet the requirements of high-quality economic development.This study focuses on the short-term path of China’s supply-side structural reform.Further research can be carried out,focusing on the theory and practice of the long-term path of China’s supply-side structural reform under the guidance of high-quality development.