my country’s high-quality economic development has entered a critical period。On the one hand，my country’s economy has entered a new stage of development, which means that supply-side structural reforms targeting technological progress and bet365 casino bonus upgrading will become the main driving force for high-quality development of China’s economy。On the other hand，The world’s major changes unseen in a century have caused my country’s external environment to face new changes，Expanding domestic demand has become an important strategic choice for high-quality economic development。

July 24, 2023，The meeting of the Political Bureau of the CPC Central Committee clearly pointed out，“Driving effective supply through terminal demand，Organically combine the implementation of the strategy of expanding domestic demand with the deepening of supply-side structural reform”。Supply-side structural reform in the new development stage is the main driving force for China’s sustained economic growth and development，This will inevitably become the most fundamental driving force for expanding domestic demand。Proper use of bet365 casino bonus policy tools，Is an important way to promote supply-side structural reform，At the same time, it also laid a solid foundation for expanding domestic demand。

　　Understanding supply-side structural reform from bet365 casino bonus

There are rich discussions on supply-side structural reform in academia，But first we need to clarify what “structure” in the supply-side structural reform actually means？In Economics Research，“Structure” usually refers to the factor endowment structure (such as capital、labor force、The combination of land and technology) and industrial structure (such as the first、二、Tertiary industries, etc.)。However，Such an explanation may be insufficient—the structure in supply-side structural reform should be more directed to bet365 casino bonus structure。

Today’s world，The global distribution of bet365 casino bonus is already a very common phenomenon。Under the leadership of multinational companies，Global Sourcing、Global production and global sales have become the most basic business model of the global industrial chain。However，A large number of empirical studies show that the status of different enterprises in bet365 casino bonus is unequal。A small number of companies have independent brands、Design and Sales Network，Dominates all processes in bet365 casino bonus by delegating orders，It is also engaged in product sales and services，For example, Apple。Some companies are responsible for the research and development of core components、Production and Sales，its technology、Services or goods have irreplaceable characteristics，Cannot be easily imitated，such as TSMC。Most companies are engaged in the production or low-end processing of non-core parts，Participate in the global industrial chain through product processing or assembly。The direct result of the division of labor in bet365 casino bonus is the huge difference in factor income between developed and developing countries。Especially for processing enterprises，Mostly labor factor input，Labor income is obviously low。Research has shown，More than 90% of my country’s exported manufactured products，It is manufactured in an industrial chain dominated by multinational companies。

The so-called supply-side structural reform from the perspective of bet365 casino bonus，It is to promote the movement of processing enterprises from the low end of bet365 casino bonus to the mid-to-high end (also equivalent to moving from manufacturing to R&D or sales)，Make it eventually become a leading enterprise。Such an understanding of supply-side structural reform，Consistent with what is usually considered as the definition of supply-side structural reform of types such as technological progress - enterprises move from the low end of the value chain to the mid-to-high end，Usually also reflected in innovation and technological progress。But the advantage is，The goals of supply-side structural reform are more clear and specific，This makes it easier to find the focus of policy。

　　Supply-side structural reform and expansion of domestic bet365 casino bonus complement each other

With a population of more than 1.4 billion, my country is the most populous country in the world，Therefore，China has the potential to unify the domestic market，This is also the most important and fundamental guarantee for expanding domestic bet365 casino bonus。Building a unified domestic market，Turn market potential into real market bet365 casino bonus and purchasing power，Supply-side structural reform is particularly important，Supply-side reform and expansion of domestic bet365 casino bonus complement each other。

Promote supply-side structural reform from the perspective of bet365 casino bonus to expand domestic demand，The key content is to promote the industrial upgrading of enterprises，Promote its movement from the low end of bet365 casino bonus to the mid-to-high end，The added value brought by this increase in the economic activities of the enterprise，The strong purchasing power it forms also lays the foundation for expanding domestic demand。When an enterprise enters the industry chain dominated by multinational companies，Does not directly face the market and consumers，Therefore, the company itself has no incentive to develop new products and upgrade products - these are the responsibilities of leading companies。Here，Enterprises only need to complete the task orders issued by the head enterprise。In addition，One of the characteristics of processing enterprises is strong substitutability，Therefore，Not only does the added value it creates account for a very low proportion in the entire industry chain，Also easily replaced。Promote supply-side structural reform from the perspective of bet365 casino bonus，This situation needs to be fundamentally changed。Although our country’s economy has been integrated into the international division of labor by participating in the global industrial chain processing、Making indelible contributions in promoting new urbanization and other aspects，Is an important force promoting my country’s rapid economic growth，But when China’s economy enters a new stage of development，There is an urgent need to gradually get rid of low-value non-core path dependencies，From relatively low-end processing procedures to independent brand research and development、High-end manufacturing and sales，Bring higher returns and benefits to labor and capital。From this，The strong purchasing power it forms can also match our country’s large domestic market with a large population，This is the most important foundation for expanding domestic demand。

The supply side and the demand side are the two basic market forces that determine economic and social production activities，The organic combination of the two is an important guarantee for achieving sustainable economic growth。The demand side of the economy and society includes consumption、Investment and Export，The so-called "Troika"；The supply side is represented by capital、Various production capabilities composed of labor and technology，This kind of production capacity is distributed in various processes in the global bet365 casino bonus。The organic combination of the supply side and the demand side has the following relationship: First, economic growth must be achieved through the demand side。However，The demand side usually has great uncertainty，Especially the external demand (exports) is not controlled by the country。Second, the supply side of the economy and society provides the possibility for the realization of economic growth (or demand)，Of course，It also restricts economic growth。When demand is too strong，Need to pay attention to the effect of inflation；And the demand changes，Especially when the overall external demand is insufficient，The added value generated by various processes distributed in the global bet365 casino bonus restricts the expansion of domestic demand to make up for the lack of external demand。In the new development stage，The supply side’s constraints on economic growth (or the realization of demand) have become increasingly significant，And this restriction is before the new development stage，It is not significant especially when there is a large (or even unlimited) supply of surplus labor。Because of this，Supply-side structural reform under the new development stage is the main driving force for China’s sustained economic growth and development，It will also inevitably become the most fundamental driving force for expanding domestic demand。

　　Rational use of bet365 casino bonus policies to develop markets

Under the new situation，Better coordinate the expansion of domestic demand and deepen supply-side structural reform，Expand domestic demand through supply-side structural reform from the perspective of bet365 casino bonus，Need to use industrial policy tools rationally。

Generally speaking，Enterprises move from the low end of bet365 casino bonus to the mid-to-high end，There are two steps。One is R&D and design；The second is to open up the market。Among them，R&D design is the foundation，Market development is the key to success。Because R&D incentives are already a generally recognized policy，In the context of expanding domestic demand，How does the government pass industrial policy，Help、Supporting and cultivating competitive enterprises to expand markets has become the key。European and American countries also made full use of various industrial policies to support their own industries in the early stages of economic development，Thus establishing a relatively complete modern industrial system。In terms of market development，Industrial policy can have many thrusts。During the rise of some industries in our country in the past，The support of government import substitution industry policy plays an important role，For example, communications industry。Industrial policies for market development are very necessary，But whether the industrial policy is effective also depends on whether the economy and society itself has the innovation vitality and ability in a competitive environment。Special，Supply-side structural reform for some labor-intensive industries，That is, shifting from manufacturing (manufacturing) to both ends (R&D and sales) of bet365 casino bonus (smile curve)，There are no barriers to technology and capital，Brand、Design and market development are the decisive points。The supply-side structural reform of these industries is particularly important in the near future。Industrial policy can take many forms，For example，Except import substitution，There are also subsidies、Tariff、Government procurement and other industrial policies。In fact，R&D policy itself can also be regarded as a kind of industrial policy。

　　In a long period of time in the future，Various types of industries (e.g. with varying degrees of labor intensity、Capital-intensive and technology-intensive, etc.) will objectively coexist。As a country with a large population，There will be imbalances in the development process of our country，More importantly，my country’s urbanization rate and primary industry share are far from reaching the level of developed countries，Therefore，While leading the world in certain technology and capital-intensive industries，Our country still has the potential to continue to absorb the surplus rural labor force through the process of industrialization and urbanization。For this，On the one hand，Our country must adhere to the supply-side structural reform targeting technological progress and industrial upgrading，This is our country’s promotion of high-quality development，An important choice for comprehensively building a modern socialist country；On the other hand，my country should also adopt supply-side structural reforms from the perspective of bet365 casino bonus，Rational use of various types of industrial policies to develop markets，Support independent brands，And continue to promote urbanization and industrialization on this basis。

　 (This article is a phased result of studying and interpreting the spirit of the 20th National Congress of the Communist Party of China and the National Social Science Fund major project "Research on major measures to organically combine supply-side structural reform with expanding domestic bet365 casino bonus" (23ZDA029)

(The author is a professor at the Institute of Finance, Yunnan University of Finance and Economics、Researcher at the Yunnan Provincial bet365 casino bonus Center for Theoretical System of Socialism with Chinese Characteristics)