Editor’s note: In this column we introduce phrases frequently used in the Chinese media and by the Chinese government, thereby providing a succinct overview of China’s political thinking, its policies and ongoing reforms and transitions.  






Supply-side Reform


Supply-side policies, which focus on supply and production, are often discussed in contrast to a demand-side approach. To improve supply-side performance is to unleash productivity and maintain a competitive edge, with greater innovation, decommissioning of obsolete manufacturing, less overcapacity, and lower tax rates, so as to boost economic growth.


This reform is placing greater emphasis on optimizing the economic structure and enhancing the efficiency of all contributing factors. To this end, measures will be implemented to streamline government and delegate powers, relax macro-regulation, spur innovation, and reform the financial sector, land use rights, and SOEs. The reform plan is designed to accelerate structural change, fuel domestic demand and expand supply. Innovation will be encouraged to generate greater demand, which will in return lead to improvements in supply. Steady growth and structural adjustment should be mutually supportive and proceed in parallel.








Made in China 2025


On May 8, 2015, China’s State Council unveiled its first 10-year national plan for transforming China’s manufacturing, entitled “Made in China 2025.” The plan is designed to put China on a new path to industrialization, with greater emphasis on innovation, expanded use of new-generation information technology, intelligent manufacturing, consolidation of the industrial base, integration of industrial processes and systems, and a robust multilayer talent development structure. Measures taken in this respect will facilitate China’s transformation from a manufacturing giant with a focus on quantity to one with a qualitative edge.


Specifically, the 10-year plan envisions the successful completion by 2020 of the process of basic industrialization, further consolidating China’s position as a manufacturing powerhouse that increasingly relies on cutting-edge information technology. It also foresees a significant leap in China’s overall manufacturing capability by 2025, characterized by markedly reinforced innovative ability, greatly improved overall productivity, and a new level of integration of industrial processes and information technology.






The National Big-data Strategy


Big data can be characterized by the huge volume, the wide variety, the extreme velocity at which data are processed, and the high value that big-data technologies can create.


The issue of big data was discussed for the first time in the Report on the Work of the Government delivered in March 2014. At its fifth plenary session in October 2015, the 18th CPC Central Committee unveiled a national big-data strategy that promotes open exchange and sharing of data. The need for such a strategy underscores the increasing importance of big data as a strategic asset on China’s development agenda. The strategy calls for exploring the potential of big-data technologies to boost economic growth, and improve governance at all levels, as well as government services and regulation.


This move will enable the Chinese government to switch from an authority-based approach to governance to a data-based approach. It will not only create a higher level of interaction with the public, but also enhance the ability of the government to respond to exigencies and solve problems with the aid of smart data technologies. The implementation of this strategy is also expected to accelerate big data related core technology research, development and application, so as to enhance China’s national competitiveness and pave the way for future development.


Selected from Keywords to Understanding China published by China Academy of Translation and China International Publishing Group.