国内英语资讯:Economic Watch: Supply-side structural reform gears up for high-quality development
<p><span word="BEIJING">BEIJING</span>, <span word="Dec">Dec</span>. 30-- <span word="Two">Two</span> <span word="years">years</span> <span word="on">on</span>, <span word="supply">supply</span>-<span word="side">side</span> <span word="structural">structural</span> <span word="reform">reform</span> <span word="remains">remains</span> <span word="the">the</span> <span word="centerpiece">centerpiece</span> <span word="of">of</span> <span word="China">China</span>'<span word="s">s</span> <span word="economic">economic</span> <span word="agenda">agenda</span>, <span word="but">but</span> <span word="priorities">priorities</span> <span word="have">have</span> <span word="shifted">shifted</span> <span word="as">as</span> <span word="high">high</span>-<span word="speed">speed</span> <span word="growth">growth</span> <span word="is">is</span> <span word="giving">giving</span> <span word="way">way</span> <span word="to">to</span> <span word="high">high</span>-<span word="quality">quality</span> <span word="development">development</span>.</p><p><span word="Initiated">Initiated</span> <span word="in">in</span> 2017, <span word="the">the</span> <span word="reform">reform</span> <span word="has">has</span> <span word="focused">focused</span> <span word="on">on</span> <span word="five">five</span> <span word="fronts">fronts</span> -- <span word="pruning">pruning</span> <span word="overcapacity">overcapacity</span>, <span word="clearing">clearing</span> <span word="up">up</span> <span word="the">the</span> <span word="large">large</span> <span word="inventory">inventory</span> <span word="of">of</span> <span word="unsold">unsold</span> <span word="homes">homes</span>, <span word="curbing">curbing</span> <span word="debt">debt</span> <span word="levels">levels</span>, <span word="lowering">lowering</span> <span word="business">business</span> <span word="costs">costs</span> <span word="and">and</span> <span word="tackling">tackling</span> <span word="weak">weak</span> <span word="links">links</span>.</p><p><span word="It">It</span> <span word="has">has</span> <span word="yielded">yielded</span> <span word="the">the</span> <span word="desired">desired</span> <span word="results">results</span>, <span word="promoted">promoted</span> <span word="economic">economic</span> <span word="restructuring">restructuring</span>, <span word="and">and</span> <span word="stabilized">stabilized</span> <span word="growth">growth</span> <span word="in">in</span> <span word="the">the</span> <span word="world">world</span>'<span word="s">s</span> <span word="second">second</span>-<span word="largest">largest</span> <span word="economy">economy</span>.</p><p><span word="The">The</span> <span word="country">country</span> <span word="will">will</span> <span word="deepen">deepen</span> <span word="reform">reform</span> <span word="in">in</span> 2018, <span word="focusing">focusing</span> <span word="on">on</span> <span word="eradicating">eradicating</span> <span word="ineffective">ineffective</span> <span word="capacity">capacity</span>, <span word="fostering">fostering</span> <span word="new">new</span> <span word="drivers">drivers</span> <span word="of">of</span> <span word="growth">growth</span> <span word="and">and</span> <span word="cutting">cutting</span> <span word="costs">costs</span> <span word="in">in</span> <span word="the">the</span> <span word="real">real</span> <span word="economy">economy</span>, <span word="the">the</span> <span word="central">central</span> <span word="authorities">authorities</span> <span word="declared">declared</span> <span word="at">at</span> <span word="a">a</span> <span word="tone">tone</span>-<span word="setting">setting</span> <span word="economic">economic</span> <span word="meeting">meeting</span> <span word="this">this</span> <span word="month">month</span>.</p><p><span word="TACKLING">TACKLING</span> <span word="EXCESS">EXCESS</span> <span word="CAPACITY">CAPACITY</span></p><p><span word="Like">Like</span> <span word="many">many</span> <span word="other">other</span> <span word="over">over</span>-<span word="staffed">staffed</span> <span word="steel">steel</span> <span word="producers">producers</span>, <span word="Magang">Magang</span> (<span word="Group">Group</span>) <span word="Holding">Holding</span> <span word="Company">Company</span>, <span word="or">or</span> <span word="Masteel">Masteel</span>, <span word="is">is</span> <span word="in">in</span> <span word="the">the</span> <span word="middle">middle</span> <span word="of">of</span> <span word="downsizing">downsizing</span>.</p><p><span word="The">The</span> <span word="steel">steel</span> <span word="complex">complex</span> <span word="in">in</span> <span word="eastern">eastern</span> <span word="Anhui">Anhui</span> <span word="Province">Province</span> <span word="has">has</span> <span word="cut">cut</span> <span word="nearly">nearly</span> 5 <span word="million">million</span> <span word="tonnes">tonnes</span> <span word="of">of</span> <span word="outdated">outdated</span> <span word="capacity">capacity</span>. <span word="The">The</span> <span word="capacity">capacity</span> <span word="reduction">reduction</span> <span word="boosted">boosted</span> <span word="the">the</span> <span word="company">company</span>'<span word="s">s</span> <span word="profitability">profitability</span>. <span word="Net">Net</span> <span word="profit">profit</span> <span word="of">of</span> <span word="the">the</span> <span word="Masteel">Masteel</span>'<span word="s">s</span> <span word="Shanghai">Shanghai</span>-<span word="listed">listed</span> <span word="branch">branch</span> <span word="more">more</span> <span word="than">than</span> <span word="doubled">doubled</span> <span word="from">from</span> <span word="a">a</span> <span word="year">year</span> <span word="earlier">earlier</span> <span word="to">to</span> 2.74 <span word="billion">billion</span> <span word="yuan">yuan</span> (<span word="nearly">nearly</span> 420 <span word="million">million</span> <span word="U">U</span>.<span word="S">S</span>. <span word="dollars">dollars</span>) <span word="in">in</span> <span word="the">the</span> <span word="first">first</span> <span word="three">three</span> <span word="quarters">quarters</span>.</p><p><span word="The">The</span> <span word="case">case</span> <span word="is">is</span> <span word="common">common</span> <span word="in">in</span> <span word="glutted">glutted</span> <span word="steel">steel</span> <span word="and">and</span> <span word="coal">coal</span> <span word="sectors">sectors</span>, <span word="where">where</span> <span word="the">the</span> <span word="government">government</span> <span word="is">is</span> <span word="pushing">pushing</span> <span word="for">for</span> <span word="consolidation">consolidation</span>.</p><p><span word="Pledging">Pledging</span> <span word="continued">continued</span> <span word="efforts">efforts</span> <span word="to">to</span> <span word="address">address</span> <span word="overcapacity">overcapacity</span>, <span word="policy">policy</span> <span word="makers">makers</span> <span word="agreed">agreed</span> <span word="on">on</span> <span word="measures">measures</span> <span word="to">to</span> <span word="eliminate">eliminate</span> <span word="ineffective">ineffective</span> <span word="supply">supply</span> <span word="in">in</span> 2018, <span word="at">at</span> <span word="the">the</span> <span word="Central">Central</span> <span word="Economic">Economic</span> <span word="Work">Work</span> <span word="Conference">Conference</span>, <span word="with">with</span> <span word="dealing">dealing</span> <span word="with">with</span> <span word="debt">debt</span>-<span word="ridden">ridden</span>, <span word="loss">loss</span>-<span word="making">making</span> "<span word="zombie">zombie</span> <span word="enterprises">enterprises</span>" <span word="highlighted">highlighted</span>.</p>
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