Chinese President Xi Jinping urged more work to advance supply-side structural reform during his inspection tour of southwest Chongqing Municipality from Monday to Wednesday.
Though factors hampering economic development lie in both the demand side and the supply side, the supply side is principal, said Xi.
Supply-side reform is the latest buzzword among Chinese leaders and economists as the country moves to address issues like excess capacity, housing overhang, and unprofitable "zombie" state-owned enterprises.
Xi demanded more efforts to phase out excess capacity and restructure industries, in addition to lowering the companies' costs and developing emerging industries as well as service sectors. The president said the supply system should be improved to cater for consumers better.
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