要清理这个模式在过去十几年中造成的后果,需要花很长时间。所以,供给侧结构性改革的含义是清理过剩产能、过多库存和银行坏账“三座大山”。清理供给侧的过剩,一方面是产能,另一方面则是银行贷款。关闭工厂不仅意味着下岗工人需要安置,一旦企业关门,也意味着企业欠银行的贷款需要处理。银行的资产质量已经有恶化的趋势,关闭一家工厂就可能是几十亿、几百亿的贷款 It takes a long time to clean up the consequences of this model in the past decade or so. Therefore, the structural reform of the supply side means to clear excess capacity, excessive inventory and bank bad debts. To clean up the supply side of the surplus, on the one hand, capacity, on the other hand is a bank loan. Closing the factory not only means laid-off workers need resettlement, but once the business is closed, it means that the loan owed by the enterprise to the bank needs to be dealt with. The quality of the assets of banks has deteriorated, closing a factory may be billions, tens of billions of loans