Advisors put heads together to find solutions to boost growth

Li Yining, a member of the National Committee of the Chinese People's Political Consultative Conference (CPPCC) addressed a plenary meeting at the Great Hall of the People in Beijing on March 10, 2016.[Photo by Zou Hong/Asianewsphoto]

BEIJING - Chinese political advisors put their heads together on Thursday to offer prescriptions for the country's slowing economy, appealing for deepened reform and stricter financial oversight.

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.