China's top leadership, which is preparing to launch the 13th Five-Year Plan (2016-20), on Monday announced an overarching strategy to lead the economy's ongoing transition. President Xi Jinping said the country's emphasis next year will be on supply-side reform, or a package of supply-side policies to release new demand and boost new productivity. He was speaking at the conclusion of the Central Economic Work Conference. The Central Economic Work Conference has pledged to launch a series of policies next year that have been discussed for a long time, including more tax cuts, incentives for specific industries, regulatory reforms and more aid to lift people out of poverty.