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6, 2015. Photo: Reuters/Na Son Nguyen/Pool SHANGHAI Chinese President Xi Jinping has said officials need to learn more about the supply-side reform policies he has called for to help tackle the nations economic slowdown but has stressed that while structural reform is necessary to help the country catch up with the changing demands of consumers, China will not introduce Western-style neo-liberalism. Xi also appeared to acknowledge errors in the handling of issues such as Chinas stock market over the past year, calling on officials to learn from mistakes. And he said the country needed to tackle a shortage of innovation. The unusually detailed comments on the economy from Chinas top leader were made in a speech to senior officials in January, but only published in Tuesdays official Peoples Daily newspaper. Their release now, just a day after the Peoples Daily quoted an unnamed senior official as saying China must avoid the dangers of over-leveraging as it seeks to promote growth, seems to suggest a concerted campaign to make it clear that the top leadership is getting to grips with the economic problems that have hitthe country, particularly over the past year. Xi first referred to supply-side reforms in a conference late last year, asChinas manufacturing sector slowed due to fallingexport demand, and demand for commodities softened due to a slowdown in theproperty sector last year. But in the speech, he said some officials had told him they didnt fully understand supply-side reform, adding so I need to talk about this again. Xi stressed that consumer demand needed to be a focus for industry. He said China still had plenty of domestic demand, but its nature was changing, and many suppliers had not caught up. Some large-scale consumer demand not being effectively supplied domestically, he said , according to Shanghai news website The Paper. Xi echoed previous comments by Premier Li Keqiang, who noted last year that many Chinese tourists to Japan came back with goods like heated toilet seats even though many were actually made in China. He said a failure to address demand meant thatconsumers spend large amounts of cash on shopping abroad, or buying overseas goods online, noting that this no longer applied only to luxury goods, but also normal everyday goods like electric rice cookers, toilet seats, milk powder baby bottles. Chinese tourists carry shopping bags as they walk at Hong Kong's shopping district Causeway Bay, China, on Sept.
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