Neosupply economics began to advocate supply-side reform in 2012, and the following year, it started to exert a positive impact on relevant economic policies and reform thought. In 2015, the CCCPC and the State Council officially initiated supply-side structural reform. It is a major reform aimed at ensuring stable growth for the next 40 years by deepening institutional reform, improving factor supply conditions and utilizing modern techonologies to create new dividends.