Fifteen members of the National Committee of the Chinese People's Political Consultative Conference (CPPCC) addressed a plenary meeting at the Great Hall of the People.
Renowned economist Li Yining told fellow advisors that China has made supply-side structural reform a new economic strategy.
China's rapid growth in the past three decades was fueled by capital investment, exports and consumption -- usually thought of as being on the demand side. However, supply-side reform aims to increase the supply of goods and services by stimulating business through tax cuts, entrepreneurship and innovation.