China's Economy Research Articles

Analysis of the Impact of Local Implementation Plans under the Easing of Mortgage Rules on the House Purchase Intentions of First-Time Homebuyers: A Case Study of Shenzhen

The real estate market is an important pillar of China's economy, and in recent years, housing mortgage lending policies have been gradually loosened to promote residents' willingness to buy homes. However, it is not clear how the loosening of the policy will have a real effect on the willingness of residents to buy their first home. Therefore, this paper investigates how policy relaxation affects the willingness of Shenzhen residents to purchase their first home by collecting questionnaires from Shenzhen residents and conducting binary logistic analysis on the data. The study found that although the strength of the policy incentives will significantly promote the willingness of residents to buy a home, however, this policy relaxation for the first suite of residential willingness to buy a home did not have a significant effect. Ultimately, this study provides some recommendations for the subsequent development of relevant policies.

Research on Financial Risk Management of Electric Power Enterprises under the "Dual Carbon" Background

Under the "dual carbon" background, the power industry, as one of the pillar industries of China's national economy, is undergoing a critical transformation. It is shifting from a traditional power generation model based on fossil fuels to one that utilizes non-fossil fuels, such as wind, solar, and hydropower. The operational development of China's power industry is significantly constrained by a series of policies, including power system reform and electricity price regulation, which has placed a burden on power companies and may lead to corresponding financial risks. This paper analyzes the issues in financial risk management of power enterprises under the "dual carbon" background from three aspects: enterprise financing channels, debt-to-asset ratio, and operating costs. Targeted measures to improve the management of financial risks are proposed, such as constructing diversified financing channels, optimizing asset management efficiency, and enhancing cost management levels, in order to provide valuable insights for financial risk management in power enterprises under the "dual carbon" framework.

Synergistic governance efficiency of industrial pollution and CO2 emissions under the digital economy.

Using panel data for 284 Chinese cities, this study explores the nonlinear relationship between the digital economy and the synergistic governance efficiency of industrial pollution and CO2 emissions (SGEIPCE). The study also investigates the transmission mechanism of two-way knowledge flows within this relationship using the double fixed effect model and two-stage least square method. The results show that the digital economy has a significant U-shaped relationship on the SGEIPCE: the impact first decreases and then increases. When the level of digital economy exceeds infection point, the SGEIPCE increases. The marginal effect identified through the heterogeneity analysis indicates that Chinese cities with high innovative talent agglomeration and low industrial Internet level are the first to cross the inflection point of the U-shaped relationship, and the promoting effect of the digital economy on the SGEIPCE is greater in these two types of cites. Further, when the digital economy crosses the inflection point, it indirectly improves the SGEIPCE by increasing the level of knowledge absorption and knowledge overflow. Knowledge overflow is the most critical transmission mechanism by which China's digital economy affects SGEIPCE. These results provide empirical support and a decision-making basis for promoting the mutually beneficial cooperation between digital economy and industrial synergistic governance.

Harnessing the web: County-level perspectives on China's green economy

Harnessing the web: County-level perspectives on China's green economy

Research on the Contribution of Higher Education to the Sustainable Development of the Economy in China: An Empirical Analysis Based on Provincial Panel Data from 2014 to 2023

In a time of rapid economic development, sustainable development is increasingly becoming the primary concern of governments. Taking the human capital accumulation and spillover model as an analytical tool, we use interprovincial panel data for 2014–2023 to estimate the degree of contribution of higher education to the sustainable development of the economy. Instrumental variables are introduced to alleviate the problem of endogeneity. An urbanization index is also introduced, as well as an interaction term formed by the marketization index and the independent variable to explore the extent of the contribution of higher education to the sustainable development of the regional economy. There are regional differences in the contribution of higher education to sustainable economic development. The study shows that higher education has a significant positive effect on regional economic sustainability. The higher the level of urbanization and the higher the level of marketization, the more significant the positive effect of higher education on economic sustainability. We should continuously increase investment in higher education, optimize the structure and layout of higher education, promote the synergistic development of higher education and urbanization, and deepen the interaction between higher education and market-oriented reform in order to actively promote higher education to serve the sustainable development of regional economies.

Correction: Li et al. The Opening of High-Speed Railway and Coordinated Development of the Core–Periphery Urban Economy in China. Sustainability 2023, 15, 4677

The authors would like to make the following corrections about the published paper [...]

ESG performance and carbon emission intensity: examining the role of climate policy uncertainty and the digital economy in China’s dual-carbon era

In line with the Sustainable Development Goals (SDGs) proposed by the United Nations and the general direction of global green and low-carbon transformation, China has formulated a dual-carbon target. It aims to peak carbon dioxide emissions by 2030 and strive for carbon neutrality by 2060. Therefore, carbon emission intensity (CEI) has gradually become a research focus. This study investigates the effect of ESG performance on CEI, and explores the moderating effect of climate policy uncertainty (CPU) and the digital economy (DE) on ESG performance and CEI. Provincial-level data in China from 2011 to 2020 was used under the panel data analysis method. The analysis reveals that ESG performance significantly alleviates CEI. In addition, CPU weakens the efficiency of ESG initiatives in decreasing CEI due to regulatory unpredictability, while the digital economy’s expansion, although innovative, may exacerbate CEI in regions dependent on fossil fuels. The study contributes to the literature by highlighting the need for integrated policies that harmonize digital growth with sustainability goals. Additionally, it underscores the significance of considering CPU and DE as critical moderating factors in ESG-CEI dynamics, offering insights for policymakers aiming to balance technological advancement with environmental responsibility.

The Impact of Chinese Womens Marriage Age and Maternity on the Income: A Heterogeneity Analysis

With the construction of China's modern economy and the progress of talented laborers, the development of womens labor in the workplace has become vital in labor markets. Therefore, the impact of marriage and childbirth on income has gradually attracted widespread attention from society. This paper uses the data of the 2021 China General Social Survey (CGSS) to discuss the impact of marriage and childbearing on women's income using a multiple regression linear model and explore the linkage effect of factors such as education level, HUKOU nature, marital and childbearing age, and work status on the income of women who marry and have children. This study found that women's income will vastly increase due to increased marriage and childbearing age. Conversely, the earlier the marriage and childbearing age, the lower the income, and the more significantly the marriage and childbearing age affect the overall income level of women.

Research on Domestic Product Oil Marketing Strategy of China National Petroleum Corporation

With the rapid development of China's economy and the improvement of people's living standards, the demand for refined oil products market continues to grow, and PetroChina, as a leading enterprise in the domestic energy industry, is facing great opportunities and challenges. In recent years, PetroChina has been actively laying out its business in the domestic refined oil products market, continuously optimizing its marketing network and improving its service level, in an effort to gain an advantage in the fierce market competition. However, due to the complexity and changeability of the external environment and the limited internal resources, PetroChina still has many problems in marketing. Through a comprehensive analysis of PetroChina's marketing environment for refined oil products, this paper combines the SWOT analysis method to explore its strategic choices and suggestions for improvement in the domestic marketing of refined oil products. Through these studies, it is hoped that it can provide useful references for PetroChina in its future development, and help it better cope with market changes and realize sustainable development.

The Impact of Green Finance on Urban Carbon Emission Efficiency: Threshold Effects Based on the Stages of the Digital Economy in China

As one of the effective ways to achieve “carbon neutrality”, examining the impact of green finance (GF) on carbon emission efficiency (CE) is of great significance for promoting low-carbon development in China. Moreover, the digital economy is a key catalyst in achieving China’s “dual-carbon” targets, as its “greening” characteristic is considered instrumental in promoting urban low-carbon development. However, the effects of the digital economy (Dig) stage on GF on urban CE have not been sufficiently studied. Using panel data from 276 Chinese cities from 2011 to 2021 and constructing a theoretical model based on the Cobb–Douglas production function, this paper analyzes the impact of GF on urban CE. The empirical results indicate that (1) GF can improve CE, and the two have a positive U-shaped relationship, which is still valid after robustness tests. (2) The heterogeneity results indicate that the impact of GF on CE is more significant in non-resource-based cities, low-carbon pilot cities, and cities with higher financial development levels. (3) GF significantly improves urban CE by driving green technology innovation (Gti) and energy efficiency improvement (Eei). (4) The effects of GF on CE have a dual-threshold effect based on the Dig. When the Dig level is excessively high, the positive effect of GF on urban CE will be weakened.

Study on the Influence of Singleness on The Preference of Self-Improvement Products

As China's economy shifts from high-speed development to high-quality development, people pay more and more attention to their own improvement in all aspects. Judging from the current consumption trend of China's people compared with the consumption development process of developed countries, self-improvement products have a broad market space in China. At the same time, with the continuous development of China's economy and the continuous improvement of people's living standards, demographic problems such as late marriage and late childbearing, unmarried and infertile have gradually become prominent, resulting in an increasing number of single groups. Therefore, in recent years, merchants have begun to focus on markets such as healthy eating, kitchen furniture, and single packages for single groups. In contrast, self-improvement products can increase the single group to change their self-identity and obtain substantial and long-term benefits. However, there are few studies that have explored the impact of singles on self-improvement products. Therefore, this paper studies the influencing mechanism of single groups on self-improvement product preferences from an empirical perspective, collects data from young people in Chongqing by combining online and offline methods, analyzes the influencing factors and consumer group characteristics by using relevant models, and puts forward corresponding suggestions for the marketing strategies of government, enterprises and self-improvement products.

Corporate Governance and Corporate Green Innovation

After the COVID-19 pandemic, global economic growth has slowed down, trade has shrunk, and higher requirements have been placed on corporate innovation capabilities. While China's economy is developing at a high quality, environmental issues are increasingly attracting widespread social attention. Therefore, this article will focus on the impact of corporate governance on green innovation. The role of corporate governance in green innovation is gaining increasing attention, especially in promoting sustainable development and environmental responsibility. An effective corporate governance structure can provide strategic guidance, resource support, and regulatory guarantees for green innovation. An efficient board of directors and management can not only improve the quality of decision-making, but also ensure that while pursuing economic benefits, companies actively fulfill their social responsibilities and promote the research and development and application of environmental protection technologies. In addition, good corporate governance helps to enhance the trust of stakeholders, thereby promoting the smooth implementation of green innovation projects. Studies have shown that companies with green governance awareness are often more innovative and competitive in the market, driven by environmental regulations and market demand.

Analysis of the Causes of Baolong Real Estate Bond Default

The real estate industry, as a pillar industry of China's national economy, plays an important role in the development of the economy and society. However, in recent years, due to the impact of the epidemic and the tightening of industry regulation, credit risks in the real estate industry have begun to accelerate exposure. Since 2021, there have been frequent defaults on real estate company bonds, and the scale of defaults has rapidly climbed to the top of the industry. Therefore, in-depth analysis of the reasons behind the wave of defaults by real estate companies has become an important issue that urgently needs to be addressed. This article takes Baolong Real Estate as the research object to explore the causes of its bond default. Research has found that: The fundamental reason for the default of Baolong Real Estate bonds lies in the company's operational strategy mistakes and neglect of debt management. The company's heavy holdings in the third and fourth tier real estate markets, coupled with an increase in commercial real estate, have weakened the company's profitability and operational capabilities. In addition, the company's asset liability ratio is too high and there is a problem of mismatched debt maturity. After entering the centralized redemption period, under the dual pressure of tightened external financing environment and hindered internal sales collection, bond defaults ultimately occurred.

The Reconfiguration of China's Economic Model: The Drive of New Productive Forces and Their Link to International Tensions

The Reconfiguration of China's Economic Model: The Drive of New Productive Forces and Their Link to International Tensions

EXPLORING THE SUSTAINABLE DEVELOPMENT OF CHINA'S REGIONAL ECONOMY

In the context of globalization and regional integration, the sustainable development of China's regional economy has become the key to achieving long-term national prosperity and social stability. The purpose of this paper is to deeply analyze the imbalance of China's regional economic development. This paper uses the entropy method to look at the long-term economic growth of 10 Chinese provinces (municipalities) from 2012 to 2021. It does this by building a full evaluation system with 19 indicators based on the five development concepts of innovation, coordination, greenness, openness, and sharing. The research finds that the eastern coastal region has the best performance in sustainable economic development, while the central, western, and northeastern regions are lagging behind. There is a tendency for the development gap between regions to widen. This paper underscores that innovation and openness serve as the primary catalysts for sustainable economic development. It proposes policy recommendations, including bolstering regional coordinated development, fostering innovation, broadening openness to the external world, and optimizing resource allocation, to facilitate balanced regional economic development in China.

Impact of the COVID-19 Epidemic on China's Economy

At the beginning of 2019, China faced significant challenges due to the outbreak of COVID-19. During the epidemic, the people and the government experienced many difficulties, such as communication difficulties and insufficient supplies. Simultaneously, the global economy entered the attenuation phase, and the epidemic dealt a major blow to the world. In response, China carried out many strategies to prevent and control the spread of the epidemic, such as citywide lockdowns and nucleic acid. During these processes, these moves had a mixed impact on China's economy. This paper examines the effects of the epidemic on China's economy by analyzing news articles, official reports, and statistical data, including changes in imports and exports, trade balances, population trends, and unemployment rates before and after the outbreak. The findings reveal that while the epidemic introduced numerous challenges, it also prompted structural changes, leaving a nuanced and multifaceted impact on the Chinese economy.By searching for news reports, official reports, and comparing China's total imports and exports, trade deficit, resident population, and unemployment rate before and after the epidemic, the paper able to get a sense of how the epidemic affected China and how it impacted the Chinese economy as a whole. By analyzing the impact of the epidemic, this paper finds that the epidemic has had both positive and negative impacts on the Chinese economy.

Application analysis of wireless communication technology in China's smart grid

With the rapid advancement of China's economy and technological innovation, wireless communication technology has seen considerable development. Concurrently, global energy and environmental challenges have intensified, heightening the demand for efficient and sustainable energy management solutions. In response to evolving energy demands, China has introduced new standards for digital power grid construction, prioritizing the use of wireless communication technologies to improve energy efficiency and develop smarter grid systems. These technologies facilitate real-time data transmission, remote monitoring of equipment, and network interconnectivity, thereby improving operational efficiency and monitoring capabilities. This paper reviews recent applications of wireless communication technologies within smart grids, aiming to provide valuable insights for future developments based on existing literature and data. Wireless communication technology in smart grids mainly enhances the intelligence and efficiency of the grid by enabling real-time data transmission, remote device management, and optimized energy distribution. Technologies such as Wi-Fi, 5G, and LoRa facilitate key functions like smart meter monitoring, equipment status management, and demand response, driving the automation and intelligent development of power systems. Future research should focus on optimizing the integration of these technologies, strengthening network security, and leveraging big data and artificial intelligence to advance the intelligence of power systems, thereby addressing critical energy challenges and fostering sustainable development

Assessing the Coordination Development Level of Agricultural Economy and Ecology in China: Regional Disparities, Dynamics, and Barriers

Achieving sustainable rural development in China requires effectively integrating agricultural growth with ecological balance. However, existing research on the coordination between agricultural economy and ecosystems has often focused on isolated aspects, such as economic growth or ecological sustainability, or has been limited to specific provinces or regions, lacking a comprehensive nationwide analysis. To address this gap, this study uses spatial data from 31 provincial-level regions in China from 2008 to 2022, developing a multidimensional framework that encompasses economic input, structure, efficiency, benefits, vitality, ecological conditions, and pressure. Using multi-factor econometric methods, we comprehensively evaluate the coordination between China’s agricultural economy and ecosystems, revealing regional disparities and spatiotemporal variations in their coupling coordination, and analyzing the barriers affecting this coordination. Our findings show that: First, coupling coordination has steadily improved, narrowing regional disparities. Second, regional differences are primarily driven by variations between the eastern, central, and western regions, with structural disparities shifting from interregional to hyper-variable density. Third, development exhibits a “club convergence” pattern, where upward transitions are difficult and downward mobility is a risk. Key barriers include farmland scale, land efficiency, afforestation area, and soil erosion control. Based on these findings, we recommend regional development strategies, dynamic monitoring mechanisms, optimized land use, and enhanced ecological protection. This study provides valuable insights for policymakers and practitioners to promote the coordinated and sustainable development of agricultural economies and ecosystems in China.

Evaluating the impact of high-speed rail on local tourism economy in China: A quasi-natural experiment

In the context of the green transformation, the tourism economy, as a model of the high-quality service industry, is the key driving force for regional economic growth. The high-speed rail (HSR) has rapidly expanded in China, which has a substantial impact on the tourism economies of cities along these routes. The importance of this study is that it highlights the economic impact of HSR on tourism, and it provides a new perspective on understanding how HSR shapes regional development. This study leverages the staggered differences-in-differences (DiD) method to assess HSR’s impact on local tourism economic development by treating its introduction as a quasi-natural experiment. Panel data from 348 prefectural-level cities in China spanning the period from 2007 to 2020 were collected. The findings indicate that HSR’s introduction significantly promotes the local economic growth of tourism, with the most pronounced effects observed in western cities, which are followed by cities in the central region. However, HSR’s impact on cities in the eastern region is not statistically significant. Furthermore, HSR’s positive impact on tourism is more substantial in larger cities. To fully harness the potential of HSR in fostering local tourism economic development, cities along the routes should optimize the integration of transportation infrastructure, implement differentiated tourism strategies, and enhance regional cooperation. Tailored tourism development strategies should be advocated, catering to the distinct needs of regions and cities with varying scales. These measures are essential for improving the quality of tourism services, increasing tourism attraction, and achieving mutually beneficial development across regions.

An Investigation of the Impact of Cultural Distance on the Digital Economy in China

An Investigation of the Impact of Cultural Distance on the Digital Economy in China