File photo of economist Li Yining [Photo: Xinhua]

Political advisors have voiced suggestions regarding the Chinese economy during the ongoing session in Beijing.

Renowned economist Li Yining, who is also a member of the Chinese People's Political Consultative Conference, offered his thoughts on how to boost supply-side reform, a key task laid out by the central government.

"We need to shut down some enterprises to readjust structure. Then what do we do with those laid-off workers? Currently, the central government will support them because those workers can find jobs again after training. Therefore, it's better for the government to take on the unemployed rather than unprofitable enterprises."

Li Yining said that China is now under period of economic transformation, as tertiary industries now contribute to more than half of China's economic volume.

He adds that a slow-down in growth is common in this period, even in other countries.

The economist notes that innovation and some adjustments on industrial structure are also key points to promote reform.