Recently, The General Office of Sichuan Provincial Committee of the CPC and The General Office of Sichuan Provincial People's Government jointly released 5 implementation plans including Sichuan’s Implementation Plan for Promoting Supply-Side Reform and Overcapacity Reduction, made specific arrangements concerning supply side reform from 5 aspects such as overcapacity reduction, inventory reduction, deleveraging, cost reduction, and shoring up weak points, and pushed deeper implementation in supply side structural reform.

　　In March, Sichuan Provincial People's Government released Policies and Measures of Sichuan Concerning Promoting Economic Stable Growth and Supply Side Structural Reform, and proposed 17 measures concerning supply side reform. In June, Sichuan Provincial Committee of the CPC and Sichuan Provincial People's Government jointly released Overall Scheme of Sichuan Concerning Promoting Supply Side Reform to specify the comprehensive requirements, overall targets, implementation paths and supporting policies for supply side reform. These 5 implementation plans are the further specification and implementation for the overall scheme.

　　In terms of overcapacity reduction, Sichuan has specified to adhere to combine capacity resolution and upgrading. By 2017, Sichuan will reduce 4.2 million tons of crude steel, 3 million tons of cement, 3 million cases of flat glass, and 22.4 million tons of coals. Meanwhile, Sichuan will forbid increasing new capacity in the fields above, promote industrial upgrading, and create 5 large companies with producing capacities over 100 million tons.

　　In terms of inventory reduction, Sichuan has specified that by 2017 the commercial housing inventory of Sichuan will be reduced by 10% compared with 2015 and personal leading rates for housing provident funds will be maintained around 85%. To lower purchasing house cost, Sichuan has specified that cities could lower the applicable tax rate for contract tax from 4% to 3% in accordance with reality after applying for upper government based on relevant provisions. Sichuan also encourages qualified cities and counties to study and establish the credit risk sharing mechanism for migrant workers to purchase houses in the cities, provide risk sharing measures or slow-releasing measures for migrant. Sichuan will also conduct mutual credit for housing provident funds within Sichuan and promote loans for housing provident funds outside Sichuan.

　　In terms of deleveraging, Sichuan has specified to optimize the investment targets for financial institutes and maintain the loan increasing rate for 7 strategic emerging industries, 5 leading emerging service industries and civilian-military integration industries no lower than the average increasing growth rate for all loans. Sichuan will also increase the financial supporting for merging and reorganization, select 3 to 5 companies who are faced with contemporary operation difficulties, enjoyed reasonable expectations on cash flow in the future, but exert comparatively large influence on economic stabilization, implement debt restructuring through introducing special construction funds, industrial investment funds and so on to lower their debt burdens and leverage. Sichuan also requires that cities and counties should provide subsidy of no more than 60% of the losses from financial institutes to small or micro enterprises and provincial finance will provide 80% of the actual subsidy of the cities and counties.

　　In terms of cost reduction, by 2017, Sichuan will lower the cost for actual economic elements and logistics cost by over 20 billion yuan, maintain the fees for financing guarantee, assessment and registration and so on within 3% of the financing cost, and guarantee that the comprehensive operation cost for companies will be lower than the average cost in Western China. In terms of systematic cost, Sichuan will continue to implement administrative approval system, promote the deadministration for intermediary service agencies, initiate the decoupling pilot reforms between industrial commercial associations and administrative organs. In terms of lowering tax fees, Sichuan will implement tax preferential policies for high-tech companies, enlarge the coverage scope, conceal the requirement in personnel that over 30% of the staff have a vocational or above degree, and change it into the no lower than 10% of technical staff accounting for total personnel. Sichuan will lower endowment insurance, medical insurance, unemployment insurance, employment injury insurance, maternity insurance, and housing provident funds in accordance with national requirements, adjust the minimum wage standards in terms of human cost, and slow down adjustment frequency reasonably. In accordance with national unified deployment, Sichuan will promote the joint implementation of maternity insurance and medical insurance. Companies which do not cut down the staff or cut off fewer will be provided stable employment subsidy based on unemployment insurance fund.

　　In terms of shoring up short boards, Sichuan will work hard to shore up 4 weaknesses, including poverty alleviation, infrastructure, public services, and ecological environment. As for poverty alleviation, by 2017, Sichuan will reduce rural poor population of about 2 million. As for infrastructure, by 2017, Sichuan will make sure that all towns could be accessible by cement streets and 21 cities will be linked by railway by 2020. As for public services, 80% municipal disease control centers will be reached B Type of Three-Level or above by 2020. As for public services, PM2.5 in cities will be lowered within the national standards by 2020. The qualification ratio for national inspection points in 5 major rivers will be over 81.6%.