Meaning:

    “供给侧” means “supply-side,” and “改革” means “reform.” Supply-side economics is a macroeconomic theory which argues that economic growth can be most effectively created by investing in capital, and by lowering barriers on the production of goods and services. As in classical economics, supply-side economics proposed that production or supply is the key to economic prosperity and that consumption or demand is merely a secondary consequence. Supply-side economics developed during the 1970s in response to Keynesian economic policy, and in particular the failure of demand management to stabilize Western economies during the stagflation of the 1970s. Typical policy recommendations of supply-side economists are lower marginal tax rates and less government regulation. The Chinese term became popular after Premier Li Keqiang referred to it several times.

    Example:

    A: 供给侧改革具体会有哪些措施？

    Gōngjǐcè gǎigé jùtǐ huì yǒu nǎxiē cuòshī?

    What policies will the government possibly adopt in supply-side reforms?

    B: 根据经济学家的定义，将包括减税、放松垄断和行政管制。

    Gēnjù jīngjìxuéjiā de dìngyì, jiāng bāokuò jiǎnshuì、fàngsōng lǒngduàn hé xíngzhèng guǎnzhì。

    According to the definition of economists, the policies may include tax cuts, breaking monopolies and reducing government regulation.