Chinese Exporters Search for Plan B

Xinhua: Chinese exporters seek "plan B" amid headwinds

The "plan B" involves manufacturing high-tech and innovative products amid ongoing supply-side structural reform to replace labor-intensive products, according to an article in Monday's People's Daily.

To counter ongoing economic headwinds and address issues such as excess capacity, China is implementing supply-side structural reform to improve supply quality and reduce ineffective supply.

"There is no harm in export-oriented enterprises thinking more about practicing supply-side reform," said Li Guanghui, a researcher at the Chinese Academy of International Trade and Economic Cooperation (CAITEC).

"A rebound in exports propped up by subsidies and policy support cannot be sustainable, so China had better abandon its growth-rate obsession and channel more energy into improving quality," Li said.

I thought this was the plan from several years ago......