A Structural reform will inevitably take place on the supply side, and pursue to improve the quality and efficiency of the entire supply system with effective system supply. Based on relevant fundamental theories, in the rethinking of mainstream economics theories after the global financial crisis, we have formed the cognitive framework of three eliminations and four establishments, namely eliminating bias, inconsistency and backwardness and establishing the framework, principles, integration and system. Analysis and cognition of supply side should be emphasized in the �basic framework� of economics. We should face up to reality and strengthen the effectiveness and pertinence of the support points in �basic theory principles and assumptions�. Market, government and non-profit organizations should play their respective roles and seek for cooperation as integration�. The institutional supply should be fully included in supply analysis to form an organic cognitive �system�. Keywords: Structural reform, New supply-side economics; three eliminations; four establishments, Financial crisis,