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China's latest economic buzzword: Demand-side reform

Phrase surfaces as Beijing looks for ways to drive domestic consumption

China's domestic consumption recovery has lagged behind the rebound in exports and investment.   © Reuters

Supply-side structural reform has been a top policy objective for China since it was first introduced by President Xi Jinping in late 2015, but a new buzzword has now entered the country's economic lexicon -- "demand-side reform."

The phrase made its public debut on Friday at the latest meeting of China's Politburo, the ruling Communist Party's top decision-making body chaired by the president, where leaders discussed economic policy priorities ahead of the annual Central Economic Work Conference expected to take place later this month.

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