How to tackle tough — dialogue state department counselor fellow Yao Jingyuan theory – original title: supply side of the supply side structural reforms structural reforms to tackle tough to enter the second half of the year, the overall situation of economic operation of China’s smooth transfer and structure adjustment steadily, but the economic downward pressure is still large. How to do a good job in the second half of the economy work, in accordance with the central requirements, we must grasp the economic development of the new normal logic, unswervingly promote the supply side structural reform, pressure as a driving force to promote China’s economic development for a long period. To this end, "Economic Daily" reporter interview before the State Department counselor researcher Yao Jingyuan, a dialogue around the current hot topic. Yao Jingyuan said that to strengthen the structural reform of the supply side of great significance, a moment can not loose. To solve the contradiction of "stiff" can not "hard" – from an international perspective, to adjust the depth of current world economy is not a short period, but a long period – from a domestic perspective, three overlay and four down a liter, by the "stiff" "hard" to cross this bridge reporter: we have noticed that many economists including you on China’s economic growth faces cyclical or structural factors are carried out some analysis. But you are more emphasis on whether it is cyclical or structural factors, we can not "quite", can not boil, what is the reason? Yao Jingyuan: China’s economy, from the current problems and contradictions. The main difficulty China economy is now facing three overlay, that the economy is in a growth phase shift, structural adjustment pains, pre stimulus digestion period, the economic situation becomes very complicated. This three phase superposition of the contradictions and problems caused by the recent performance of the "four down one liter": first, the economic growth rate has declined. In recent years, China’s GDP growth rate gradually slowed down in 2013, the growth rate was 7.7%, the growth rate in 2014 was 7.3%, the growth rate in 2015 was 6.9%. Two is the decline in corporate profits. 2015, China’s Industrial Enterprises above Designated Size profit growth fell by 2.3% over the previous year, and the more upstream enterprises, the more severe decline in profits, the more obvious. Three is the price index of industrial products for more than 4 consecutive years of negative growth, not only to reduce the profit margins, but also lead to investors do not invest, consumers do not consume risk. Four is the decline in revenue. 2015 national fiscal revenue growth of only 5.8% compared with the same caliber, there are individual provinces negative growth in revenue. "L" refers to the potential risks, especially financial risks on the rise. How to determine these issues? I think there are cyclical reasons, but the main reason is not cyclical, but structural reasons, the supply of structural mismatch problem is serious. First of all, to understand the periodicity. Generally speaking, spring, summer, autumn and winter is a cycle. Must enter the winter cold, how to do? Generally can take heating, heating, air conditioning these methods. But without the heating conditions, there is one of the most primitive way is "stiff" or "guao". Similarly, if the economy suffers from a purely cyclical problem, it can相关的主题文章: