China's Economy Research Articles

China's Response to Capital Market Liberalization

Looking back at the Asian financial crisis of that year, although the outbreak of the crisis is closely related to the Asian countries' own inherent defects in institutional mechanisms, it is also related to the opening of the capital market, but the opening of the capital market is not an important factor that led to the financial crisis in China, so China should not close the capital market, but rather should be free to open up the scenarios, and the content of my research is to explore the Chinese response to the issue of the opening of the capital market. Through analysis, this paper argues that China cannot face the opening of the capital market overnight; it still needs to carefully consider the opening of the capital market and take many factors into account. It should be gradual rather than faster, and a more thorough opening up is better. To make a comprehensive judgment on the opening up of the capital and financial markets in the light of China's current national conditions. The following aspects should be considered: keep an eye on China's real economy situation and launch more pragmatic initiatives; strengthen the risk prevention capability; improve the various mechanisms of the capital market.

Pollution Emission Intensity and Domestic Value-Added Rate of Firms' Exports: An Empirical Analysis Based on China’s Microdata

Abstract With the development of global economic integration, global value chains (GVC) have become the mainstay of the global economy. China's low-end embedded model relying on its labor advantage can no longer bring new economic benefits, and the ensuing environmental problems are intensifying. Therefore, there is an urgent need to explore a win-win path for the greening of China's economy and the improvement of GVC status. Using micro-firm data, the article explores the role of pollution emission intensity of China's firms in influencing the domestic value-added rate of their exports. The study finds that (1) the increase of pollution emission intensity of Chinese enterprises has a significant inhibiting effect on their export domestic value-added rate; (2) the pollution emission intensity of Chinese enterprises under different regions, different ownership and different trading methods has differentiated effects on their export domestic value-added rate. Among them, the pollution emission intensity of state-owned enterprises, enterprises in western regions and processing trade enterprises have a more significant inhibitory effect on the domestic value-added rate of their exports; (3) the increase of total factor productivity of enterprises can slow down the negative effect of enterprise pollution emission intensity on the domestic value-added rate of its export. Keywords: Enterprise Pollution Emission Intensity, Export Domestic Value-Added Rate, Global Value Chain Embeddedness.

Development and status quo of digestive endoscopy in China: An analysis based on the national census in 2013 and 2020.

Technique and practice of digestive endoscopy are undergoing speedy development all over the world. This study aimed to evaluate its status quo and development in China. All hospitals performing digestive endoscopy in mainland China participated in the national census in 2013 and 2020. Retrospective data of hospitals, endoscopists, volumes, and qualities were collected via an online structured questionnaire, and its accuracy and rationality were verified by logical tests and manual reviews. Data from other countries were used to compare with that of China. From 2012 to 2019, the number of hospitals performing digestive endoscopy increased from 6,128 to 7,470 (1.22-fold), in which primary healthcare played a minor role. The median hospitals per 100,000 inhabitants per provincial region increased from 0.49 (IQR, 0.39-0.57) to 0.55 (IQR, 0.49-0.63). The endoscopists increased from 26,203 to 39,638 (1.51-fold), but their average workload even expanded. Overall volume increased from 28.8 million to 44.5 million (1.55-fold), and most types of endoscopic procedures recorded a high growth rate. Contrastingly, the specific utilization rates were low and paled in comparison with some developed countries. Nationwide, regional utilization rates showed a significant correlation with GDP per capita (P <0.001). Overall qualities of digestive endoscopy were excellent, but certain results of quality indicators posed a huge challenge, such as the detection rates of adenoma and early cancers. Impressive progress has been made in digestive endoscopy with rapidly expanding economy in China. However, primary healthcare, utilization rates, and income-related inequality of regional services were needed to be improved to promote public health better.

The Development of China's Digital Economy: Challenges and Countermeasures

With the rapid development of digital technology, China's digital economy is facing unprecedented opportunities and challenges for growth. This paper explores the challenges in four key areas of data security, digital divide, market monopoly and innovation, technology dependence and talent gap in China, and puts forward corresponding countermeasures and suggestions. In terms of data security and privacy protection, the importance of improving the legal system, enhancing technological protection capabilities, enhancing public awareness and corporate responsibility was emphasized. To address the digital divide, a comprehensive solution was proposed to strengthen infrastructure construction, provide customized education and training, and encourage public-private cooperation. In response to the challenges of market monopoly and innovation, it is suggested to strengthen market supervision, support the development of small and medium-sized enterprises and establish an innovation incentive mechanism. In terms of technology independent research and development and personnel training, it puts forward strategies to increase investment in key technologies, improve the education system, attract international talents and promote industry-university-research cooperation. The paper concludes that by implementing these countermeasures, China can not only solve the current problems it faces, but also occupy a more important position in the global digital economic landscape. These analyses and recommendations provide valuable insights for policymakers and have important practical significance for promoting the healthy development of China's digital economy.

Estimation of industry-level basic digital capital services in China: A variable depreciation rate estimation method based on DSGE

Accurately measuring the input of digital capital is of great significance for understanding the development pattern of China's digital economy, nurturing new quality productivity, and achieving high-quality development. However, existing representative studies often assume a constant depreciation rate for capital goods, which does not align with reality. In this paper, we address this limitation by introducing dynamic stochastic general equilibrium (DSGE) model that estimates the variable depreciation rate for each capital good. By setting the depreciation rate as a function of capital maintenance expenditures and utilization rates, we provide a more realistic approach. The empirical results obtained through Monte Carlo simulation demonstrate that the trend of depreciation rates for all types of capital goods aligns with China's economic development. Additionally, we find that investment-specific technology shock plays a significant role in affecting changes in the depreciation rates of capital goods. This shock leads to an increase in capital utilization rates and a decrease in capital maintenance expenditures, resulting in higher depreciation rates. Notably, the depreciation rate of basic digital capital is more sensitive to exogenous shock compared to non-digital capital. Furthermore, the paper estimates the basic digital capital service of 19 industries in China from 1981 to 2020. The results indicate a steady increase in the services provided by basic digital capital, with particularly rapid growth observed in industries such as information transmission, software and information technology services, and the financial sector. When comparing our estimation results with those of representative literature, we find that the national-level productive capital stock and the basic digital capital services estimated using our methodology closely align with existing literature. This validation confirms the effectiveness of our methodology and the reliability of the estimated industry-level basic digital capital services.

Quality of life and regional economic development: Evidence from China.

With the development of China's economy entering a new stage, the quality of life, which centers on the well-being of residents, provides an essential hand in promoting the transformation of the regional economy from high-speed development to high-quality development. Based on a panel threshold regression model, we examine in this paper whether quality of life helps regional economies realize developmental convergence. The research shows that: (1) The quality of life overall can promote regional economic development and passes the series test with relatively robust results. (2) The quality of life has a non-linear effect on regional economic growth, which is mainly manifested in the fact that the impact is more significant in regions with higher levels of quality of life and weaker in regions with lagging quality of life and may widen the gap between regions at the same time. (3) We categorize the study regions to test further regional heterogeneity based on regional location and development status. At the Quality of Life Level-I regions, their influence on economic development has a more substantial pulling effect. Therefore, each region should seize the strategic opportunity to improve the quality of life, focus on the balanced development of the quality of life, strengthen policy support and social security, and strive to promote the coordinated development of China's regional economy.

Study on the Motivation of Nonlinear Trajectory of Corporate Financialization and the Impact of Financial Performance

With the continuous changes in the global market environment and the intensification of trade friction between China and the United States, the downward pressure on China's real economy has increased. Entity enterprises have been involved in the financial and real estate and other virtual economy, in order to obtain high profits, the entity enterprise "de-realization to virtual" phenomenon is becoming more and more serious. In recent years, the state has introduced a series of policies to guide manufacturing enterprises to "return to the real", of which "deleveraging" in the supply-side structural reform has become an important means to regulate the disconnection between the real and the virtual economy. How to guide and promote the manufacturing enterprises to "return to reality" is the key to promote the high-quality development of China's economy, but how the impact needs to be studied in depth. Taking Huamao shares as a case study, this study selects 15 key financial indicators between 2010 and 2022, and applies the entropy method to quantitatively analyze the differential impact on financial performance of the company's financialization behavior between 2010 and 2019 and its de-financialization process from 2020 to the present. By deeply exploring the non-linear development trajectory of financialization and its specific impact on the financial performance of the company, this paper reveals that Huamao's financialization behavior, while promoting investment returns, has generated investment substitution effects and in turn has generated obvious crowding-out effects on the company's main business, thus weakening the profitability of the company. In view of this, it puts forward relevant policy suggestions for the financialization of manufacturing enterprises, which helps to guide industrial capital to return to the main business and accelerate the upgrading and transformation of manufacturing industry under the background of revitalization of the real economy vigorously advocated by the state and has certain guiding significance, and emphasizes the importance of returning to the manufacturing industry and the necessity of returning to the industry as the core engine for promoting the long-term and stable growth of China's economy in order to provide a reference path for the development of other financialized real enterprises. It emphasizes the importance and necessity of the return of the manufacturing industry as the core engine for promoting the long-term stable growth of China's economy, with a view to providing a reference path for the development of other financialized real enterprises.

Research on the Exploration of China's Financial Supervision Based on the Smoke Index

In recent years, with the rapid development of China's economy and the continuous development of Internet technology, China has ushered in a "financial boom". At the same time, the financial risks of illegal fund-raising such as P2P online loan platforms have gradually been exposed. In order to effectively warn and prevent these risks, the Beijing Leading Group for the Fight against Illegal Fund-raising and the Technology Company jointly developed the "Smoke Index", and with the establishment of the General Administration of Financial Supervision, financial supervision has increasingly become an important measure to protect financial security in China. This article aims to explore its promoting role in China's financial supervision with the help of the smoke index, and take this as an entry point to provide a new direction for the steady development of China's economy.

A Study of the Heterogeneous Application of China-Based Teaching Methods in International Trade and Business Law Courses

For China's teaching methods in international trade and business law courses, the audience's professional knowledge system framework, China's teaching methods in international trade and business law courses in the heterogeneity of the application of the basis lies in the professional way of thinking differences. Since the reform and opening up, the domestic trade has been closely integrated with the development of China's economy and the need for foreign trade activities, China wants to develop trade and strengthen economic exchanges with countries around the world, should understand and comply with the international commercial law and international trade practices, prior to the negotiation of the contract should strive to be detailed and clear, specific and complete, and should be strictly abide by the terms and conditions of the process, and should not be all to our own, since a set of, and thus causing many problems and losses and affecting the credibility of the country. Many problems and losses and affect the credibility of the country. This is particularly important for students of international trade and business law, the importance of international trade and business law programme. As for the teaching methods in China, there are two kinds of teaching methods in international trade and business law: the heterogeneous application of direct teaching method is reflected in the differentiated explanation of the basic concepts and principles of international trade and business law, while the heterogeneous application of case teaching method is shown in the differentiation of the case selection and implementation process. For the above two methods, the author proposes other teaching methods for reference.

The Evergrande Effect: Unraveling the Housing Crisis in China and its Global Ramifications

The Chinese real estate market, epitomized by the tumultuous trajectory of Evergrande Group, stands at the forefront of global economic discourse. This abstract encapsulates the intricate interplay of factors shaping this market, from speculative dynamics and urbanization trends to regulatory interventions and systemic risks. It examines the fallout of Evergrande's collapse, illuminating its ripple effects on China's economy and the reverberations felt across international financial markets. As policymakers grapple with the aftermath and chart a course forward, this abstract offers insights into the challenges and opportunities inherent in navigating the complex terrain of the Chinese real estate landscape.

Research on the Healthy Development of China's Digital Economy

With the rapid development of information technology, digital economy has made great progress in China. However, the healthy development of digital economy faces a series of problems and challenges. This paper analyses the current development of China's digital economy by sorting out the concepts and characteristics of digital economy, discusses the problems facing the development of China's digital economy, and puts forward corresponding countermeasures and suggestions. The study finds that although the development of China's digital economy has made remarkable achievements, there are still problems such as imperfect infrastructure, insufficient innovation capacity, imperfect policies and regulations, and security risk challenges. In order to promote the healthy development of China's digital economy, it is necessary to strengthen the construction of digital economy infrastructure, enhance the innovation capacity of the digital economy, improve digital economy policies and laws and regulations, and strengthen the security of the digital economy. Meanwhile, the healthy development of China's digital economy faces both prospects and challenges. Against the backdrop of China's economic transformation and upgrading, the digital economy will become an important force driving economic development, but it also needs to deal with the challenges of technological change, data privacy protection and talent training.

THE VIRTUAL DEGREE OF LEVERAGED CAPITAL WITHIN CHINESE ENTERPRISES

The transition of China's tangible real economy to an intangible economy, along with phenomena such as capital idling and shadow banking, has significantly altered the relationship between financial markets and actual enterprises. As leveraged capital flows into real enterprises, it is crucial to discern how much is allocated to operational endeavors versus financial market investments. Leveraging the logic of asset allocation and capital acquisition in real enterprises, we developed a model to discern the allocation of leveraged capital. Through descriptive analysis, we delineate the landscape of Chinese listed companies' utilization of leveraged capital for financial assets. Our findings reveal that the proportion of Chinese enterprises holding leveraged capital has steadily risen, surpassing 86.53%, with an increasing trend in leveraged enterprises utilizing capital for financial asset acquisition, growing from 35.02% to 79.12% annually. Among leveraged enterprises investing in financial assets, the portion of leveraged capital directed toward such investments escalates annually, from 20.44% to 46.37%. However, as leveraged capital increases, the ratio allocated to financial assets diminishes. Approximately 14.38% of all leveraged enterprises allocate more than 50% of their financial assets through leveraged capital, with the proportion of enterprises solely reliant on leveraged capital for financial asset purchases steadily increasing, reaching 23.35% in 2020, predominantly concentrated in the manufacturing sector. This research holds theoretical significance for understanding the dichotomy between the virtual and tangible applications of leveraged capital at the microlevel. It uncovers the logical mechanisms governing leveraged capital and disparate asset allocations, fostering opportunities for quantitative exploration of the interplay between finance and the tangible economy. Additionally, our insights provide valuable reference points for regulatory bodies seeking to fortify oversight over leveraged capital utilization.

Systematic evaluation of integration between China's digital economy and sports industry: Two-stage grey relational analysis and vector autoregressive model.

The development of the digital economy constitutes a key component of China's endeavors to advance towards "Digital China." The sports industry functions as a new catalyst for high-quality economic growth. This study systematically evaluated the integration between these two sectors. First, we conducted two levels of grey relational analysis to assess their integration between 2016 and 2021. Second, we conducted a VAR analysis to determine whether their integration between 2009 and 2021 represents a causal relationship. At the macro level, the grey relational analysis reveals that the sports industry (grade = 0.770) ranked second among China's eight key economic sectors in terms of digital economy integration. At the meso level, a wide variation (ranging from 0.606 to 0.789) existed in the grade of integration between the digital economy and the sub-sectors of the sports industry. According to the VAR model, the digital economy does not Granger cause (p = 0.344) the growth of the sports industry. This study yielded two added values to the existing literature: First, there exists a sectoral imbalance in the digitization process; second, the explosive growth of the sports industry was not primarily caused by the digital economy. Accordingly, the "sports + digital" complex is still in the first wave of technological integration. We propose three policy recommendations, namely, sectoral synergistic development, overtaking via esports IP, and new economy and new regulation. Collectively, these findings provide updated insights for the digital transformation towards "building a leading sports nation" and "Digital China."

Carbon emission reduction enabled by informatization construction: an analysis of spatial effects based on China's experience.

The "dual-carbon" objective presents a huge challenge for China and the world, with profound implications for the advancement of China's eco-friendly economy. Additionally, informatization development has a significant impact on the level of carbon emissions in both local and neighbouring regions. Therefore, we employ panel data from 30 provinces in China spanning the years 2012 to 2021, and use the Kernel density estimate and Moran's index to explore informatization level and carbon emissions space agglomeration characteristics. We elucidate the nonlinear relationship and heterogeneity between informatization improvement and carbon emissions based on the spatial Durbin model. The primary findings are as follows. Firstly, we discover a distinct spatial clustering phenomenon which the informatization level is high in coastal areas and low in inland areas, whereas carbon emissions are low in the south and high in the north. Secondly, the effect of the informatization level on carbon emissions is shown as a U-shaped and non-linear correlation, signifying inhibitory and subsequently promoting phases. Thirdly, we reveal the negative influence on carbon emissions caused by spatial lag terms of the informatization level, and find that a higher local informatization level will have an inhibitory effect on carbon emissions in neighbouring areas. Finally, there is a spatial heterogeneity in the impact of the informatization level on carbon emissions, which presents the U-shaped relation between informatization level and carbon emissions varies across the North-South subregion and the three major economic subregion of China.

Application of network data security based on wireless sensor technology in the development of digital sharing economy

Nowadays, when the existing algorithms are fused in the feature function network feature, they do not consider the different effects of different features on the saliency detection task. In order to solve this problem, this paper proposes a saliency feature fusion network based on multi-focus mechanism to complete the saliency detection task. While recognizing the important role of the network, it must also be realized that because most network users do not understand the details of network composition and network system analysis, the security of computer network data is relatively low. Unscrupulous hackers use their network technology and software to invade unauthorized networks and hosts without authorization. Therefore, network data security is very important. The competition and monopoly of the digital sharing economy platform has always been a hot topic of increasing attention from domestic and foreign economists. The platform economy is based on an efficient data collection and transmission system, a digital platform supported by continuously developing computing power and powerful data processing algorithms, which greatly promotes the development of social productivity. The core trend of the development of China's digital economy is the ecologicalization of the digital sharing economy. Small industrial platforms rely on massive user resources collected by a large platform to quickly connect the upper and lower channels of the industry to transform and form a new industry ecosystem.

Comparison of Extraction accuracy of Sugarcane from different resolution satellite images using Deep lab V3+ Mode

Abstract. Sugarcane is an annual or perennial persistent rooted tropical and subtropical herb that grows in tropical and subtropical regions. As China's production ranks among the world's leading, sugarcane industry is an important part of agricultural economy in China. As the largest sugarcane production center in China, Guangxi is one of the most suitable areas for sugarcane cultivation in China and even in the world. Sugarcane industry, as an agricultural advantageous industry in Guangxi, not only has a significant image to the national economy of the region, but also is closely related to the issue of security of national sugar supply. Continuous cropping of sugarcane is very common in Guangxi, which is very helpful for the concentration selection of sugarcane samples. The wide application of satellite remote sensing monitoring technology has become an indispensable means of natural resources monitoring. Using optical satellite remote sensing image to identify and extract sugarcane planting areas is of great significance to quickly and conveniently grasp the information of sugarcane distribution and yield. In this paper, the precision of sugarcane extraction from GF1 and GF2 satellite images is analyzed by using deeplab V3 + model, the effect of optical remote sensing images with different resolution on sugarcane extraction accuracy was studied to provide better data support for dynamic monitoring of sugarcane planting.

How does technological progress affect low carbon economic growth? Evidence from regional heterogeneity in China.

The rapid economic development leads to excessive consumption of fossil energy, resulting in a large number of carbon emissions, which makes the sustainable development of China's economy and society face great challenges. Under the background of global warming and environmental deterioration, developing low-carbon economy has become an inevitable choice for China to change its development model and improve its international competitiveness. Technological progress is the first driving force to promote economic growth. However, the influence degree and mechanism of technological progress on the development of low-carbon economy are still unclear. Based on this, the paper proposes the concept of low-carbon GDP, which is used to measure the low-carbon economic development of 30 Chinese provinces. Then, the panel fixed effect model is used to study the effect degree and mechanism of technological progress on low-carbon GDP and the moderating effect of other factors on the relationship between them. The results show that, first, economically developed provinces and regions have higher per capita low-carbon GDP and low-carbon GDP index, but the speed and quality of low-carbon economic development are not necessarily higher. Second, technological progress can promote the growth of low-carbon GDP and make greater contributions to resources-poor regions. Third, improving local education can make technological progress more effective in low-carbon economic development. China needs to upgrade technological development by developing new and high-tech technologies, promoting new urbanization and strengthening education in order to promote low-carbon economic development.

Spatial differentiation and influencing factors of red tourism resources transformation efficiency in China based on RMP-IO analysis

This study employs modified data envelopment analysis (DEA) models and spatial autocorrelation methods to analyze the characteristics of red tourism transformation efficiency and categorize them into efficiency zones. By utilizing geographic detector models, the interactive driving mechanisms behind spatial differentiation are revealed, providing valuable insights for the high-quality transformation and development of China's red tourism economy. The application of modified DEA models facilitates the evaluation of red tourism resource transformation efficiency by decomposing comprehensive efficiency into single-factor efficiency for individual input and output variables. The results indicate that: (1) Expansion of tourism factors is crucial for achieving red tourism resource transformation in China, with low efficiency in resource endowment investment acting as the primary constraint. (2) Local spatial correlation between production efficiency and resource transformation efficiency demonstrates a decreasing trend from east to west, leading to the classification of China’s red tourism resources into five types of efficiency zones. (3) Endogenous ability factors predominantly affect red tourism resource transformation efficiency, with interaction between internal and external factors driving spatial differentiation.

The shifting motherhood penalty and fatherhood premium in China's gig economy: Impact of parental status on income changes

The fatherhood premium and motherhood penalty are key concepts in the study of gender income gaps. Using an ordinary least squares model, influencing mechanism analysis and Oaxaca‐Blinder decomposition, we examine changes in Chinese gig workers’ income by gender, before and after parenthood. The results indicate that, in the Chinese gig economy, the motherhood penalty is vanishing, while the fatherhood premium has evolved into a fatherhood penalty owing to work pressure and the gender segregation of occupations in the gig economy, requiring men to balance their time and energy between work and childcare in a way that is not as prevalent in other sectors.

Analysis of the Impact of RMB Appreciation on China's Economy

Due to the epidemic war and other causes, the global economic development effect is not good situation, China's economy still maintains a strong development momentum, so many countries for the appreciation of the renminbi began to sound, improve the exchange rate which is undoubtedly a very favorable situation for our country, so this article would like to think that the motivation of the appreciation of the renminbi and the impact of the analysis of the summary and generalization of the elaboration.