Starting from 2012, the Chinese economy has slowed down to enter the era of “New Normal,” where medium-paced growth is the new norm. This means that the Chinese economy has reached the limits of its quantitative growth driven by investment and exports over the last 30 years, and now needs to transition toward a new growth model. In response, the Chinese government has proposed “Supply-side Structural Reform” (SSSR) as a new economic development strategy in the era of New Normal.
SSSR was proposed by President Xi JinPing of China in November 2015 and the year of 2019 is the fourth year of its implementation. In order to predict whether the Chinese economy is being transformed into a sustainable development model and what impact it will have on Korea, it is necessary to review and evaluate the progress of Chinas SSSR at this time.