widescale reform; major overhaul
Refers to a large-scale, fundamental revision or renewal of a system, policy, organization, etc.
The government announced a major overhaul of the tax system.
改革 is a general term for reform or improvement, while 大幅刷新 emphasizes a sweeping, large-scale renewal.
Compound of 大幅 (large-scale) and 刷新 (reform, renewal).