Abstract
From the perspective of multi-source flow theory, this paper explores the process of setting up the policy agenda for China’s supply-side structural reform. It began discussions by combining social issues such as the decline in economic indicators and the decline of the energy industry with changes in the political environment jumping out of the traditional perspective of a single economic analysis. At the same time, this article focuses on the role of the supply school in policy advice. From the three aspects of issues, policies, and politics, it explores the opening of the policy window.
Highlights
From the perspective of multi-source flow theory, this paper explores the process of setting up the policy agenda for China’s supply-side structural reform
While pushing the issue into the policy agenda is not something that can be done with a viable alternative, the chances of the issue being put on the policy agenda will be greatly improved if there is a problem with the corresponding solution
In the formation of China’s supply-side structural reform policy, the supply school has made a major contribution as the backbone of the policy flow, but they have a close and inseparable relationship with the political flow
Summary
The supply side reform was designed to improve the quality and efficiency of the supply system and enhance the momentum of sustained economic growth when it was first officially proposed in China [1]. On November 10, 2015, Xi Jinping proposed the “supply-side structural reform” for the first time at the Central Financial and Economic Leading Group meeting. In the following 8 days, the “supply-side reform” was mentioned at three meetings that include the State Council executive meeting, the Asia-Pacific Economic Cooperation Organization meeting and the “13th Five-Year Plan” drafting work meeting. On December 21, 2015, Xi Jinping once again pointed out that the focus of economic work in 2016 is to implement the “13th Five-Year Plan” proposal and promote the supply side structural reform. At the twelfth meeting of the Central Financial and Economic Leading Group, it was further proposed that the plan of supply-side reform needs five “clear”. By the end of 2016, all the relevant enterprises in the province will be cleared; at the end of 2017, the state-owned and extremely poor enterprises in the province will basically get out of trouble; in terms of capacity, by the end of 2018, the market will basically be cleared of “zombie enterprises”
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