China's Economy Research Articles

Analysis of Existing Condition and Direction of Low-carbon Economy from the standpoint of Green Trade

Global environmental awareness has increased, and green trade between countries is frequent. From the viewpoint of green trade, China's low-carbon economic development is showing a good trend, and low-carbon economy has evolved into a recognized economic development direction by countries across the globe. To establish a low-carbon economy, China has carried out a great deal of initiatives to decrease emissions of carbon, including the establishment of revocable energy, the promotion of energy structural transformation, and the pursuit of green and low-carbon growth via innovative technology and advancement in industry. China's green trade cooperation with the rest of the world is expanding, accelerating the growth of low-carbon sectors. Nowadays, influenced by various factors, China's low-carbon economy still faces practical problems such as lack of technological innovation, irrational energy structure adjustment, and insufficient relevant laws and regulations. The establishment of an economy with low carbon footprint requires the combined efforts of the country, the government, and the people to promote it. In the future development trends, technological innovation will become an important factor to facilitate the formation of a free of carbon economy. Under the scope of green trade, China's low-carbon society has broad development prospects. The creation of a low-carbon economy will contribute significantly to China's green and low-carbon transition, along with the nation's social and economic growth over time.

Practical path for developing “new quality productive forces” driven by the digital economy in China

Developing “New Quality Productive Forces” (NQPFs) has been accepted as a new theory to accelerate the high-quality development in China. In current, China’s high-quality development mainly relies on the traction of the digital economy. In view of this, developing NQPFs in China’s digital economy sector requires locate and remove some obstacles, such as the insufficient utilization of data, inadequate algorithm regulation, the mismatched supply and demand of regional computing power and the immature market environment. As a solution, it is necessary to allocating data property rights in a market-oriented way, establishing a user-centered algorithm governance system, accelerating the establishment of the national integrated computing network, and maintaining fair competition to optimize the market environment.

The widening gender wage gap in the gig economy in China: the impact of digitalisation

The gig economy, fundamentally relying on the digital economy, is often celebrated for its potential to expand employment opportunities and close gender wage gaps. However, research on its gender impacts in China, the largest developing country with a rapidly expanding gig sector, is notably lacking. Employing discrimination theory, the findings challenge the prevailing optimistic view on the role of the gig economy. Utilising the China Labour Dynamics Survey data from 2014, 2016, and 2018, and applying the Bourguignon, Fournier, and Gurgand model to correct selection bias, this study reveals that, digitalisation has exacerbated gender wage gaps, with the wage growth of female gig workers significantly lagging behind their male counterparts, especially among married and older cohorts. Adopting the Neumark decomposition, the analysis confirms that discrimination largely accounts for this gap. This study uses Generalised Propensity Score Matching as robustness test and concludes with policy recommendations.

Multimodal market information fusion for stock price trend prediction in the pharmaceutical sector

With the evolution of China's market economy, the securities market is increasingly anchoring a pivotal role in the nation's economic landscape. Consequently, stock trend forecasting has garnered heightened attention among scholars and practitioners. This research pioneers the use of multimodal information to predict stock market fluctuations. Based on our experimental results, LSTM + Transformer performs better in handling multimodal data for stock movement prediction tasks regarding accuracy, F1-score, precision, and recall. Additionally, we employed the Granger causality test and Impulse response test to investigate the causal relationships between sentiment and stock trends, as well as the interplay between COVID-related indicators and stock trajectories. We identified discernible causal links between sentiments, COVID indicators, and stock trends for select pharmaceutical stocks. Our findings can provide valuable guidance for investors and market regulators, especially within the pharmaceutical industry. Understanding investor sentiment and the impact of the pandemic on severity can assist in effective stock commentary management and improve investment strategies.

Research on occupational health and safety management in the context of big data.

At present, with the rapid development of China's economy and industrial transformation, the situation of China's occupational health and safety is grim, and at this stage, there are still problems such as unsound laws and regulations and standard system, weak awareness of the primary responsibility of the enterprise, weak supervisory, technical capacity, and backward application of information technology. Based on the current situation of occupational health and safety management at home and abroad and relevant theories, this study adopts the method of systematic review and takes the evaluation of China's occupational health and safety management system as the theme and conducts a valuable exploration of the evaluation research of China's occupational health and safety management system, analyzes the current situation of occupational health and safety from the aspects of prevention and control of occupational diseases, prevention and control of safety accidents, and monitoring of the psychology of insecurity, and researches the two aspects of governmental regulation and social responsibility It analyzes the current situation of occupational health and safety from the aspects of prevention and control of occupational diseases, prevention and control of safety accidents and monitoring of unsafe psychology, and studies the current situation of post-performance evaluation of the development of OHS management system from the aspects of government supervision and social responsibility, aiming at providing countermeasure suggestions for the sustainable development of OHS management system in China. The research indicates that in the context of the new economic normal, effectively safeguarding workers' occupational health rights and interests, promoting sustainable and robust economic and social development, as well as enhancing the sustainability of China's occupational health and safety management system have emerged as challenging yet pivotal areas for comprehensive exploration.

Study on the influence of digital inclusive finance on the development of provincial fishery economy and regional economic convergence in China

In recent years, the rapid development of digital inclusive finance in China has affected many aspects of social development, especially economic development, which has a good driving force. At the same time, the development of the fishery economy has been challenged by many aspects, and digital inclusive finance may inject new development momentum into the development of the fishery economy. Using the digital financial inclusion index and relevant data on the fishery economic development of 31 provinces, autonomous regions, and municipalities in China from 2013 to 2020, this paper empirically analyzes the impact of digital financial inclusion on provincial fishery economic development through the dual fixed effect panel data econometric model of controlled region and time. The main conclusions are as follows: The benchmark regression results show that digital inclusive finance can positively promote the development of the fishery economy at the significance level of 1%, and the digital development degree of digital inclusive finance also has a significant role in promoting the development of the fishery economy. After the endogeneity test of the system GMM model and a series of robustness tests, the model results are still significant. The results of the moderating effect model show that technological innovation plays a positive moderating role in the impact of digital inclusive finance on the development of the fishery economy, while the upgrading of the industrial structure plays an inhibitory role. Based on the results of the β convergence model, it can be found that there is no convergence in the level of fishery economic development among provinces. The development of digital inclusive finance will play a greater role in promoting areas with better fisheries and economic development, thus widening the development gap between regions. Finally, the paper discusses the effect of the conclusion and the improvement, which is of reference significance for the coordinated development of the fishery economy based on finance between regions.

Influence of financial inclusion and industrial robots on the efficiency of China's OFDI: A heterogeneous spatial stochastic frontier analysis

Enhancing the efficacy of China's outward foreign direct investment (COFDI) constitutes a significant avenue for realizing the sustainable development of China's economy. This study analyzes panel data from 63 countries from 2010 to 2021 to create a heterogeneous spatial stochastic frontier model to examine how financial inclusion and industrial robotics in host nations affect COFDI efficiency. The findings are as follows. To begin with, COFDI manifests positive spatial spillover effects across countries. Moreover, from a spatial perspective, financial inclusion diminishes COFDI efficiency, whereas the interaction between financial inclusion and industrial robots increases its efficiency. Industrial robots, thus, counteract the diminishing impact of financial inclusion on COFDI efficiency. Additionally, concerning the heterogeneity of location choice and investment motivation in COFDI, the interaction between financial inclusion and industrial robots in developed economies augments COFDI efficiency as opposed to emerging market economies. Conversely, technology-seeking investment mitigates the adverse effects of financial inclusion on the efficacy of COFDI when juxtaposed with resource-seeking investment. This study provides theoretical insights and practical recommendations for improving the efficiency and guiding the destination selection of COFDI.

Competitive Authenticity: Chinese Beauty Influencers Leverage the Hashtag #ReconcileWithPlainFace to Intensify Their Rivalries

Abstract: In China’s complex and layered digital landscape, women influencers are redefining Asian beauty ideals and challenging traditional narratives. This study investigates the uses and implications of the hashtag “# YuSuyanHejie / #ReconcileWithPlainFace.” Originating on Douyin, the Chinese version of TikTok, this hashtag explicitly promotes a makeup-free appearance. As a piece of marketing rhetoric, the hashtag is reminiscent of the recent strategic shift by Western brands from featuring unrealistic, “flawless” models to promoting “real” beauty that features “average,” everyday women. Increasingly, Chinese influencers now present viewers with makeup-free, “authentic” profile images that challenge traditional and repressive beauty norms. Ironically, such claims seem to intensify, rather than relax, the incredibly fierce competition that already characterizes the online beauty community. Through digital ethnography, this paper examines the interactions between Chinese influencers and their followers to analyze the construction of, and tensions within, the dissonant concept of competitive authenticity. This study contributes to an understanding of gender, labor, and “authenticity” within China's digital economy and demonstrates the ways in which influencers weigh self-representation against both commercial incentives and societal expectations.

The Impact of Export Tax Rebates on Industrial Upgrading: A Literature Review

As China's economy gradually shifts towards a stage of high-quality development, issues such as insufficient demand and overcapacity are becoming increasingly prominent. The development model of extensive economy is no longer sustainable, and the economic operation is facing huge risks and challenges. The adjustment and upgrading of industrial structure has become an inevitable choice. In this context, the export tax rebate policy, as one of the important means to promote foreign trade and industrial upgrading, not only has significant practical value for in-depth exploration and analysis, but also has profound significance for guiding future policy formulation and practice. This article aims to systematically integrate and extract existing research results, deepen the understanding of the mechanism and impact of China's export tax rebate policy in promoting industrial upgrading, and provide some research clues for further research by domestic and foreign scholars.

The Impact of Fed Rate Hikes on The Chinese Economy

The United States is the world's largest economy and a major financial center. As the central bank of the United States, the Federal Reserve's monetary policy decisions not only have a significant impact on the country's economic and trade development, but also lead to changes in global capital flows, exchange rate fluctuations, and international trade conditions. Since March 2022, persistent high inflation and overheating of the economy have led the Federal Reserve to raise interest rates dozens of times. As of September 2023, the Federal Reserve's interest rate has increased from 0 to 5.5%. The total rate hike by the Federal Reserve has reached 550 basis points. As the US dollar is the world's reserve currency, China's economy inevitably experiences varying degrees of impact. Therefore, studying the impact of the Federal Reserve's rate hikes on the Chinese economy will help our country formulate better response measures and reduce its adverse effects on our economy.

A STUDY ON THE IMPACT OF DAIRY COMPANIES' SOCIAL RESPONSIBILITY ON CONSUMERS' PURCHASING INTENTION

In the context of China's booming economy, the issue of corporate social responsibility frequently arises, impacting the sustainable development of human society. Dairy companies, an industry crucial to national health and nutrition, have garnered significant attention for fulfilling their social responsibilities. This study focuses on the field of dairy products. From the perspective of consumers, by reviewing and sorting out existing literature, the core variables involved are conceptually defined, providing a solid foundation for subsequent research. Based on the core variables, we constructed a theoretical model and proposed relevant hypotheses. To verify the hypothesis, this study uses a questionnaire survey method to collect the data required for empirical research. Finally, the empirical research results conclude that dairy companies' economic responsibility, safeguarding consumer rights, protecting the environment, and undertaking charitable activities all influence consumers' purchase intentions. The impact of dairy corporate social responsibility on consumer purchase intentions is significantly positive, with consumer corporate identity playing a partial mediating role and dependent self-construal positively moderating this impact. Following a thorough analysis, this study offers recommendations on how dairy companies can effectively fulfill their social responsibilities, thereby enhancing their strategic business operations.

The generative logic and value implications of Xi Jinping’s "Theory of the Two Hands": An analysis of Xi Jinping’s key exposition on the relationship between government and market

The generation of Xi Jinping’s "Theory of the Two Hands" is logically inevitable. This theory embodies the theoretical continuity and advancement of Marxist classicists and their successors' understanding of the relationship among planning, market, and fundamental social systems. It represents a historical necessity that builds on the Chinese Communist Party’s experience in advancing China’s economic reform, as well as an urgent practical need to refine the socialist market economy in the new era. Xi Jinping’s "Theory of the Two Hands" addresses three dimensions—content and essence of the issue, delineation of roles and functions, and methods and objectives of resolution—thus exploring the government-market relationship across six distinct layers. This approach scientifically answers questions concerning the nature of the problem, the roles and functions involved, the methods of handling it, and the goals it seeks to achieve. Not only does it expand new horizons in contemporary Marxist political economy, but it also deepens the understanding of the laws underlying socialist construction with Chinese characteristics, advancing the socialist market economy of China to a new stage of high-quality development.

Institutional ownership drives a new strategy for green total factor productivity development of Chinese listed companies: Effects, mechanisms, and implications

The low-carbon transformation of China's economy is urgent, and the innovation of core technologies related to it cannot be without financial support. Given the limited availability of green funding, it is imperative to seek the help of social funding more widely. Among them, the impact of institutional ownership (IO) on the green total factor productivity (GTFP) at micro level cannot be ignored. This study employs a panel fixed-effects model to examine the influence of IO on the GTFP of 4582 Chinese A-share listed companies and explore potential pathways. The research findings indicate that: (1) IO can improve the GTFP of investee companies. (2) this impact may occur through the influence of IO on the invested company's financing constraints, R&D expenditures, green innovation, environmental performance, ultimately driving its GTFP. (3) different types of institutional investors exhibit varying performance in promoting the GTFP of the invested company. Particularly, pressure-sensitive institutional investors with strong business relevance to the invested companies demonstrate impressive results. (4) IO exhibits a more significant promoting effect on the GTFP of listed companies in specific samples. This study provides a new strategy for promoting green economic growth in China, and summarizes some targeted policy implications.

Carbon governance or trade gaming: China's approach to addressing the EU's carbon border adjustment mechanism

The EU's Carbon Border Adjustment Mechanism (CBAM) poses a significant challenge for developing countries, especially China, a key player in the global market and a major carbon emitter. We use the GTAP-E model to evaluate CBAM's impact on China's economy and carbon reduction efforts, and propose two response strategies: carbon governance approaches and international trade gaming. Our findings show that CBAM may lead to a slight decrease of 0.003% in China's GDP and a 0.004% reduction in carbon emissions. It also generates ripple effects across the supply chain, notably affecting energy-intensive upstream industries. We find that the combination of carbon pricing and trade agreements is more effective than trade protection measures in minimizing economic losses from CBAM. This is achieved through mechanisms such as sharing carbon reduction costs and promoting decarbonization on both the supply and demand sides. Furthermore, improving carbon governance can enhance the green competitiveness of Chinese products. Going forward, China should maintain trade agreements with developing countries and enhance its carbon pricing mechanism to better align with global climate governance. Our study offers valuable policy insights for developing countries as they navigate the challenges posed by CBAM.

Spatio-Temporal Evolution and Interactive Relationship Between Digital Economy and Green Development in China

A digital economy parallel with green development holds profound significance for achieving sustainability. The primary objective of this study was to explore the synergistic interaction effects between the digital economy and green development in China and forecast their future development. This study analyzed the spatio-temporal characteristics of provincial digital economy and green development in China by integrating a combined assignment method, an unconditional spatial kernel density estimation method, and a standard deviation ellipse model. The interplay between the digital economy and green development was examined using a panel vector autoregression model. Additionally, digital economy and green development levels were forecasted using univariate time series and radial basis function kernel ε-support vector regression models. The results indicate that both the digital economy and green development levels in China exhibited an upward trend from 2013 to 2021, with the digital economy increasing at a faster rate. However, both domains demonstrated regional disparities in their development processes. The mutual interaction between the digital economy and green development intensified as the lag period increased. The digital economy contributed 21% to green development, whereas green development contributed 18% to the digital economy. The initial effect of the digital economy on green development was negative, however, this impact gradually diminished over time. Additionally, the influence of green development on the digital economy was shown to follow a consistent trend of transitioning from negative to positive across the eastern, central, and western regions. Therefore, it can be seen that the digital economy exerts a sustainable impact on green development, albeit with a one-phase lag. This research provides a scientific basis for the deep integration of the digital economy and green development, thereby fostering sustainable socioeconomic growth.

Research on the Development of SPDB’s Green Finance Business from the Perspective of Green Economy

Currently, China is at a critical stage of restructuring its economy and transforming its development model. The development of green finance can further optimize the industrial structure, allocate socio-economic resources in a rational and efficient manner, continuously promote the green and healthy upgrade of industries, and deeply facilitate the sustainable development of China's economy and society. Green finance is increasingly becoming a new trend in the development of financial institutions, especially in the banking industry. As one of the first commercial banks to engage in green finance, Shanghai Pudong Development Bank (SPDB) offers valuable insights for the study of green finance development, providing a reference for other commercial banks. This article analyzes the current state of SPDB’s green finance development, identifies existing challenges, and proposes countermeasures for the development of SPDB’s green finance business.

Prospects of China's Entertainment Consumption Economy Based on Entertainment APP Data Analysis

China's entertainment apps have blossomed in many aspects, covering videos, movies, games, music, animation, live broadcasts, etc. Data collected from major entertainment apps might be helpful to outline the preferences and personalities of Chinese entertainment consumption groups, and thus to make a prospect for China's entertainment consumption economy. Based on the analyzed data, it can be seen that while some professional entertainment apps are developing towards the "small and beautiful" vertical track, comprehensive platform apps are undergoing an ambitious expansion of power. It is clear that the multi-dimensional social interaction of active Chinese entertainment people has highlighted people's spiritual needs, and the development of the industry will undoubtedly show the integration of entertainment and technology, entertainment and food/sports, and entertainment and tourism. The entire industrial chain should be layout based on multi-dimensional needs, and the precise output should be supplemented by scientific and technological means.

Coupling Coordination Analysis of China’s Tourism Inclusive Green Growth System and Its Dynamic Evolution

With this research, we aim to outline and analyze China’s tourism inclusive green growth system and explore its dynamic evolution in terms of economic growth, environmental sustainability, and social inclusiveness. By establishing an evaluation index system and using the entropy weight method, grey correlation, and the coupling coordination model, we analyzed the development level, subsystem correlation strength, and coupling coordination degree of China’s tourism inclusive green growth from 2004 to 2022. The main findings are as follows: (1) The tourism inclusive green growth index is generally on an upward trend. The economic growth subsystem is sensitive to emergencies, the social inclusion subsystem demonstrates strong robustness, the environmental sustainability subsystem shows resilience, and the overall system has strong adaptability. (2) From 2004 to 2010, the tourism economy dominated green growth; from 2011 to 2016, the three pillars of tourism inclusive green growth were driven in a coordinated manner; from 2017 to 2018, social inclusion dominated green growth; from 2019 to 2020, the epidemic caused fluctuations; and from 2021 to 2022, economic recovery became the main driving force. (3) From 2004 to 2022, the coordination among the tourism economy, social inclusion, and environmental sustainability significantly improved, especially after 2015. This research emphasizes the balance among economy, society, and environment in China’s tourism development and promotes the realization of multi-dimensional win–win results.

The Expansion of Monetary Policy Collateral Promotes Green Innovation of Heavily Polluting Enterprises

Since the reform and opening up, China's economy has developed rapidly, and behind the high growth is the problem of inefficient energy consumption and environmental pollution. China's economy has entered a stage of high-quality development, focusing on innovation-driven and green development, and the Fifth Plenary Session of the 19th Central Committee proposed to promote green development and develop green credit. In this paper, we use a difference-in- difference model to verify the impact of green credit assets on the green innovation of heavily polluting A-share listed enterprises in accordance with the quasi-natural experiment of the inclusion of green credit assets in the MLF qualified collateral framework in June 2018. Results: (1) The expansion policy improved the level of green technology innovation of heavily polluting enterprises; (2) R&D investment intensity plays a strong intermediary role and can promote the green transformation of enterprises; (3) The nature of property rights affects the micro effect of the policy, and the expansion policy has a greater impact on the state-owned heavy polluting enterprises.

Correlation and Impact of SSEC and SZI Empirical evidence based on VAR model

Today, the world economy is experiencing globalization and diversification, and China's economy is also developing rapidly, also the development speed of the capital market has been significantly improved. Among them, the impact of the development of the securities industry on China's capital market cannot be ignored. As the two major stock exchanges in China, the Shanghai Stock Exchange and the Shenzhen Stock Exchange are not to be underestimated in the securities market. Therefore, the Shanghai Securities Composite Index (SSEC) and the Shenzhen Securities Component Index (SZI) represent the direction of China's stock market to a certain extent. Therefore, this paper will start from the perspective of SSEC and SZI, select the data for a total of 10 years from 2009-2018, and try to construct the VAR model, and finally draw the impulse response function graphs of both of them. The basic conclusions of the study are the SSEC has a relatively large impact on the capital market, while the SZI has a relatively small impact on the capital market. Therefore, the inspiration for investors is that the SSEC is more informative and useful when making investments.