four reductions and one improvement 三去一降一补 sān qù yī jiàng yī bǔ

The five main tasks for addressing key economic challenges, under the mantra of ‘supply-side structural reform’: cutting capacity in low-profit and high-pollution industries, reducing real estate inventory, lowering enterprise costs, deleveraging the economy overall, and strengthening its weak links. The term first appeared during the December 2015 Central Economic Work Conference.