This is from Chinese media on the progress on reforms. It's a bit of a long and background read but might be of interest.
The major task of the supply-side structural reform is to cut overcapacity, reduce excess inventory, deleverage, lower costs, and strengthen areas of weakness, thereby realizing a supply-demand balance at a higher level.
Overcapacity has troubled China for a while, with a surplus of some industrial products far beyond the actual demand, which has caused falling prices of these products, therefore narrowing relevant companies' profit margin. Meanwhile, many second- and third-tier cities in China have seen the rising inventory of commercial housing units. Cutting overcapacity will facilitate the flow of production factors and make prices of industrial products more rational. Destocking will help stabilize the real estate market and avoid big economic fluctuations, and lower the debt default risk by mobilizing capital flow.
And, plenty more at the piece, here: Supply-side Structural Reform: New Practice under the "New Normal"
