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By Han Xu, director of political system research office, Institute of Political Science, the Chinese Academy of Social Sciences, cartoon drawing by Liao Tingting.

Chinese President Xi Jinping, general secretary of the Communist Party of China (CPC) Central Committee and chairman of the Central Military Commission, spoke at a panel discussion with deputies from Liaoning province during the ongoing annual session of the country's top legislature.

Xi stressed supply-side structural reform is inevitable for the revitalization of Liaoning. The progress of industrial sector in Liaoning originated from the real economy, and new round of revitalization and development also depends on the real economy.

Xi intends to focus on industrial restructuring and upgrading, to form a new structural pattern covering co-development of strategic emerging industries and traditional manufacturing industry, mutual promotion between the modern services industry and traditional services industry, deep integration of informatization and industrialization, integration of military and civilian development.

The real economy has close relations with national security, the people's livelihood and international competitiveness. Many things rely on the real economy including basic necessities of people's life, economic and social development, as well as materials and technical support.

As Xi pointed out, no matter how the economy grows, the real economy is the foundation for China's development and to succeed in international economic competition.

At present, China's economic operation is confronted with prominent problems, the root of which is major structural imbalances that include structural imbalance between support and demand in real economy, financial and real economic imbalance, real estate and real economic imbalance. So, supply-side structural reform must focus on revitalizing the real economy.

Only by boosting the real economy in reform could China's development grow to a higher level.

(The opinions expressed here do not necessarily reflect the opinions of Panview or CCTV.com)

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