High-quality Development Of China Research Articles

Speculative culture and corporate high-quality development in China: mediating effect of corporate innovation

This paper associates the speculative culture with the corporate total factor productivity (TFP), aiming to explore the influence of speculative culture on corporate high-quality development. The results reveal that the presence of a speculative atmosphere varies across different regions in China, leading to uneven development among companies located in these regions. Specifically, companies situated in regions with a weaker speculative culture demonstrate higher TFP. The finding suggests a causal relationship between speculative culture and corporate high-quality development by adopting an instrumental variable test using natural calamities. Moreover, the research indicates that speculative culture can impact corporate high-quality development by influencing their innovation activities. Additionally, the study identifies heterogeneous effects of speculative culture on companies of different sizes and levels of analyst attention. The implications of this research shed light on the influence of speculative culture on the real economy, providing insights into the informal institutional factors contributing to the corporate high-quality development in different geographical areas. These findings contribute to the promotion of economic high-quality development at the geographical level and inform related policy formulation.

Revealing the Eco-Environmental Quality of the Yellow River Basin: Trends and Drivers

The Yellow River Basin (YB) acts as a key barrier to ecological security and is an important experimental region for high-quality development in China. There is a growing demand to assess the ecological status in order to promote the sustainable development of the YB. The eco-environmental quality (EEQ) of the YB was assessed at both the regional and provincial scales utilizing the remote sensing-based ecological index (RSEI) with Landsat images from 2000 to 2020. Then, the Theil–Sen (T-S) estimator and Mann–Kendall (M-K) test were utilized to evaluate its variation trend. Next, the optimal parameter-based geodetector (OPGD) model was used to examine the drivers influencing the EEQ in the YB. Finally, the geographically weighted regression (GWR) model was utilized to further explore the responses of the drivers to RSEI changes. The results suggest that (1) a lower RSEI value was found in the north, while a higher RSEI value was found in the south of the YB. Sichuan (SC) and Inner Mongolia (IM) had the highest and the lowest EEQ, respectively, among the YB provinces. (2) Throughout the research period, the EEQ of the YB improved, whereas it deteriorated in both Henan (HA) and Shandong (SD) provinces. (3) The soil-available water content (AWC), annual precipitation (PRE), and distance from impervious surfaces (IMD) were the main factors affecting the spatial differentiation of RSEI in the YB. (4) The influence of meteorological factors (PRE and TMP) on RSEI changes was greater than that of IMD, and the influence of IMD on RSEI changes showed a significant increasing trend. The research results provide valuable information for application in local ecological construction and regional development planning.

How does green credit guidelines affect environmentally friendly enterprises' ESG? A quasi-natural experiment from China.

Following decades of extensive economic development, promoting the transition to greening and decarbonization in economic development have become inevitable choices for controlling environmental pollution and achieving high-quality development in China. Green Credit Guidelines (NIGCG) is a major policy innovation to promote green credit and further improve sustainable economic development. The influence of these guidelines on environmentally friendly enterprises' sustainable development capacity, proxied by environmental, social, and corporate governance (ESG), has not yet been discussed. Therefore, this study takes the NIGCG issued in 2012 as a quasi-natural experiment, and adopts a propensity score matching-difference-in-differences (PSM-DID) model to test whether the NIGCG has affected ESG in environmentally friendly enterprises from 2009 to 2022. Our results indicate that the NIGCG significantly boosts environmentally friendly enterprises' ESG, and this finding remains robust to a series of tests. In addition, a mediating effect analysis reveals that the NIGCG affects enterprises' ESG through research and development (R&D) investment, verifying the Porter hypothesis in China. Finally, we determine that the role of NIGCG in promoting ESG is significantly reflected in the non-politically connected enterprises and enterprises in the eastern region. The empirical results suggest that the authorities should stimulate enterprises' R&D investments through supporting policies, such as tax reimbursement and government subsidies, and formulate differentiated policies according to the characteristics of enterprises and their regions, so as to improve the effect of NIGCG.

Research on the Impact of Digital Finance on the High-quality Development of China's Economy

At present, China's economy is in a period of transformation and development. Facing multiple challenges at home and abroad, it is particularly important to explore a new path of high-quality economic development. The rise of digital finance has provided a new perspective on this. The present paper aims to study the supporting role of digital finance in the high-quality development of China's economy and reveal the action mechanism between the two. Through the literature analysis method, this paper sorts out the relevant literature of digital finance to support high-quality economic development, defines the concept of digital finance and high-quality economic development, analyzes the economic and ecological effects of digital finance from the perspective of macro to micro, and points out the possible research directions in the future. The research results show that digital finance plays a positive role in promoting the high-quality development of China's economy by improving the efficiency of financial services and promoting technological innovation.

The heterogeneous effects of non-hydro renewable energy and water resources on industrial development of the Yellow river and Yangtze river basins

Exploring the relationship between non-hydro renewable energy (NHRE) and water resources can help achieve high-quality development in China’s industrial sector under the constraints of water conservation. This study investigated the interrelationships and regional heterogeneity of capital, labor, water and NHRE in the industrial sectors of 158 cities in the Yellow River Basin (YRB) and Yangtze River Basin (YZRB) in China using a heterogeneous stochastic frontier model. Based on reconstructed NHRE consumption data, it is found that the NHRE output elasticity (OE) in the NHRE-rich YRB (median value: 0.1) was lower than that in the NHRE-scarce YZRB (0.24), while the water OE in the water-rich YZRB (0.07) was lower than that in the water-scarce YRB (0.09). Classification analysis of infrastructure construction revealed that the energy OE in NHRE outflow regions (0.11) was lower than in NHRE inflow regions (0.28). This study also optimized the allocation of projected NHRE additions in China by 2030 and found that the optimized strategy can generate an additional industrial output of 8.8 × 1011 Yuan and save 8.6 × 107 tons of water compared to existing strategies. The results indicated that a win-win situation of industrial growth and water conservation could be achieved by reallocation of NHRE.

Historical development, impact mechanism and future trends of nitrogen footprint in Wuxi City, China

Human activities have changed the biogeochemical cycle of nitrogen, leading to a large amount of reactive nitrogen (Nr) into the environment, aggravating a series of environmental problems, affecting human and ecosystem health. Cities are the core areas driving nitrogen cycling in terrestrial ecosystems, however, there are numerous influencing factors and their contributions are unclear. The nitrogen footprint is an important index to understand the impact of human activities on the environment, however, the calculation of urban nitrogen footprint needs a simplified and accurate system method. Here we use a nitrogen footprint calculation model at the urban system level based on system nitrogen balance, and a multi-factor extended STIRPAT (stochastic impact by regression on population, affluence, and technology) model suitable for analyzing the impact mechanism of nitrogen footprint to estimate nitrogen footprint of Wuxi City during 1990–2050. We find that: (1) from 1990 to 2020, the total nitrogen footprint of Wuxi City was in an increasing trend, but the per capita nitrogen footprint was in a decreasing trend. The per capita nitrogen footprint of 22.36 kg capita−1 in 2020 was at a lower level globally. (2) Nr discharge from fossil fuel combustion and Haber-Bosch nitrogen fixation accounted for the main proportion of nitrogen footprint. (3) Dietary choice (Ad), GDP per capita (Ag), urbanization rate (Au), population (P), and fossil energy productivity (Te) were the key factors contributing to the increase of the nitrogen footprint, which resulted in an annual increase of 1.39 %. While nitrogen footprint productivity (Tn), nitrogen use efficiency in crop farming (Tc), and nitrogen use efficiency in animal breeding (Ta) were the key inhibit factors that inhibit the increase of nitrogen footprint, and these factors slow down the annual growth rate of nitrogen footprint by 0.39 %. (4) The continuous growth of nitrogen footprint in the baseline and population growth scenarios will bring more environmental problems and greater environmental governance pressure to Wuxi City, while the sustainable scenario that includes comprehensive means such as economic adaptation and technological improvement is more in line with the requirements of high-quality development in China. Several mitigation measures are then proposed by considering Wuxi's realities from both key impact factors and potential for nitrogen footprint reduction in different scenarios, which can provide valuable policy insights to other cities, especially lakeside cities to mitigate nitrogen footprint.

Will China’s carbon-trading policy foster coordinated innovation in green technologies?

Accelerating green innovation is crucial for achieving high-quality development in China. Despite this importance, empirical evidence on the harmonization techniques in the context of carbon-trading policies has been remarkably thin. To address this gap, we employed the difference-in-difference (DID) and spatial difference-in-difference (S-DID) models using panel data from 2007 to 2017 for 30 Chinese provinces. Our findings reveal that the carbon-trading policy contributes significantly to the coordinated advancement of green technologies across Chinese provinces and exhibits a local siphoning effect. Specifically, the pilot areas of the policy have attracted talent from neighboring regions, which has fostered local cooperation and promoted coordinated innovation in green technologies within the region.

Study on the Unbalanced and Inadequate Problems of High-quality Development in China's Ethnic Regions

Study on the Unbalanced and Inadequate Problems of High-quality Development in China's Ethnic Regions

A Study of Tesla's Impact on China's New Energy Vehicle Market

Nowadays, the issue of carbon emission is getting more and more attention, and China also attaches great importance to the development of the new energy industry. China is steadily developing its new energy automobile industry, and at the same time, new energy automobiles have provided a new "track" for the transformation and upgrading as well as the high-quality development of China's automobile industry. In this context, this paper provides an in-depth study of Tesla's market strategy and its impact on China's new energy vehicle market, outlining the complex interplay between market dynamics, government policies, and corporate strategies, and covering a number of important aspects, including government support, market expansion, consumer demand, competition and pricing strategies, product differentiation, infrastructure development, technological advances, and raw material foreign trade relations. Overall, these results and data show that Tesla's impact on China's new energy vehicle market is very important, intensifying the competition in China's new energy vehicle market, prompting similar new energy vehicle companies in China to innovate, improving the industrial level of China's new energy vehicle companies, and helping to improve China's policies in this area.

The opportunities and challenges of generative AI for the development of the accounting Industry

Against the backdrop of rapid information technology development, generative AI technology has become a key driver in advancing the accounting industry. This paper discusses the opportunities that generative AI, represented by ChatGPT, brings to the accounting industry. These opportunities include driving workflow automation, enhancing review efficiency, and aiding scientific research. The article discusses challenges related to the authenticity and usability of output data, privacy and security of accounting data, and the shortage of technical talent. The author proposes strategies to address these challenges, including fostering critical thinking and awareness, strengthening the training and development of GPT models specific to accounting, enhancing data and privacy protection, and promoting relevant training for accounting professionals. This study addresses the research gap in the application of ChatGPT in the accounting industry. Its practical significance lies in promoting technological advancement and high-quality development in China's accounting industry.

Research on the Coupled and Coordinated Development and Optimization Path of Low Carbon Economy and New Urbanization

Currently, China has entered a stage of high-quality development, and urbanization is an important issue in China's modernization process. Urbanization faces many challenges such as food security, resource and energy shortages, and environmental pollution. To solve this problem, we must take a new path of sustainable development towards urbanization. The new type of urbanization adheres to the principle of people-oriented, taking the path of green, circular, and low-carbon. It can unleash huge domestic demand potential and is an important driving force for the healthy and high-quality development of China's economy and society. A low-carbon economy emphasizes increasing energy output, reducing energy consumption and pollution, thereby reducing emissions and improving economic benefits. Low carbon economy is not only a new economic form and development model in the era of ecological civilization, but also the best economic form and development model for the construction of new urbanization.

Assessing the impact of environmental regulation on enterprise high-quality development in China: A two-tier stochastic frontier model

With the heightened concern of environmental sustainability, the relationship between environmental regulations and enterprise high-quality development(HQD) has become increasingly intertwined. However, the specific impact of environmental regulation on enterprise HQD remains unclear. Based on the panel data of A-share listed manufacturing companies in China from 2010 to 2020, this study constructs a two-tier stochastic frontier model to measure the bilateral effects of environmental regulation on enterprise HQD. The empirical results indicate the following: 1. The positive effect of environmental regulation makes the HQD of enterprises 54.995% higher than the frontier level, while its negative effect results in HQD being 16.215% lower than the frontier level. 2. The net effect of environmental regulation on enterprise HQD is positive over time, and it overall displays a W-shaped fluctuating downward trend. 3. Heterogeneity analysis, categorized by various criteria, shows that enterprises that are in non-heavily polluting industries, audited by listed accounting firms, state-owned enterprises, with higher investor attention, and in regions with lower intensity of environmental regulation, experience a greater net positive effect from environmental regulation. Policy implications are discussed to enhance the effectiveness of environmental regulation and high-quality development of enterprise

Measurement, regional differences, and driving factors of high-quality development level of crop seed industry in China

Objective: To promote the development of China’s crop seed industry with high quality, guarantee food security and sustainable agricultural development, scientific design of the evaluation index system for high-quality development of the seed industry and conduct of metric analysis are the keys to promoting the revitalization of the seed industry and the construction of a strong agricultural country. Methods: This paper focused on the high-quality development of China’s crop seed industry as the main research object by combining previous research findings of studies based on the connotation of high-quality development of the crop seed industry and constructed the evaluation index system of high-quality development of China’s crop seed industry which covers five dimensions, namely, innovation-driven development, green and sustained development, coordinated and comprehensive development, opening-up and strengthened development, and share-and-promote development, The Entropy method, Dagum’s Gini coefficient, Kernel’s density estimation, and panel regression methods were used to comprehensively analyze the spatial and temporal evolution, regional differences, and driving factors of the level of high-quality development of the crop seed industry in 30 provinces (municipalities and autonomous regions) of China from 2011 to 2020. Conclusions: After systematic analysis, it was concluded that (1) the overall level of high-quality development in China’s crop seed industry has stabilized, and progress has been made. (2) The overall inter-regional differences among the four major regions showed a gradual upward trend, with the inter-regional differences serving as the primary source of the differences and the contribution rate of various inter-regional differences demonstrating an upward trend. (3) Innovation capacity, the cultural and educational level of rural residents, the development of rural infrastructure, national financial support, and market-oriented approach are important factors driving the high-quality development of the crop seed industry in Chinese provinces (districts and municipalities).

Exploring the Development Path of China's Carbon Trading and Carbon Finance Market

Based on the research of domestic and foreign scholars on the carbon finance market, this article summarizes the development history and model innovation of domestic and EU carbon markets, and compares similarities and differences. Finally, based on the case of the EU carbon finance market, this paper summarizes experience from several aspects such as market mechanisms and supporting measures, and proposes an innovative model for promoting the development of carbon trading markets through carbon finance markets. By organically combining the two, countermeasures are proposed to promote the sustained and high-quality development of China's carbon trading market, and to fully play a role in realizing China's carbon neutrality vision.

The Influencing Factors of Carbon Emissions in the Industrial Sector: Empirical Analysis Based on a Spatial Econometric Model

To promote the low-carbon, high-quality development of China’s industrial sector and achieve the national carbon peak goal as soon as possible, this study explores the influencing factors of carbon emissions among industrial sectors. Based on the panel data of 36 industrial sectors in China from 2009 to 2021, the spatial effects and characteristics of industrial sectors are examined by the spatial Durbin model (SDM) based on analyzing the spatial correlation among industrial sectors. The results show the following: (1) Moran’s I statistical results show that China’s industrial carbon emissions have a strong positive spatial correlation, and with time, the spatial correlation between industrial sectors gradually increases. (2) The empirical results of the whole industrial sector show that the property rights structure, capital intensity, and energy structure are the main driving forces promoting carbon emission reduction; the grouping analysis results show that the impact of FDI and property rights structure on the carbon emissions of the industrial sector in different sample groups is different. Among them, the energy structure and research and development play a role in reducing carbon emissions in each sample group. (3) Therefore, in the future, to reduce carbon emissions in the industrial sector, it is necessary to inhibit growth factors and promote the role of reduction factors; optimizing the energy structure and improving the rationality of the property rights structure are effective ways to achieve energy conservation and emission reduction.

The impact of the digital economy on high-quality agricultural development--Based on the regulatory effects of financial development.

The digital economy, as a new economic form with high information density, provides a new driving force for the realization of high-quality agricultural development. Panel data of 31 provinces in China from 2011 to 2020 were selected for analysis. The static panel data interaction effect model and panel threshold model were used to verify the nonlinear influence mechanism and heterogeneity of financial development in the process of the digital economy affecting high-quality agricultural development. The findings are as follows. (1) During the study period, the high-quality development of China's agriculture showed a steady upward trend; however, the regional differences were significant, and the eastern part was larger than the central and western part. (2) The digital economy can promote high-quality agricultural development. (3) The digital economy has a double threshold effect in the process of affecting high-quality agricultural development, which depends on the level of financial development. When the threshold is exceeded, the digital economy has a more significant promoting effect on high-quality agricultural development. (4) The impact of the digital economy on high-quality agricultural development is heterogeneous. From the perspective of different regions, the impact effect is greatest in the eastern region, while the effect is smaller in the central and western regions. From different resource endowments, the positive impact effect is greatest in the major grain-selling areas, followed by the major grain producing areas, but the positive digital economy driving effect is not significant in the balance of production and sales areas. Finally, three policy suggestions are proposed. First, the Chinese government should increase investments in and support for digital technology to promote the integration of the digital economy and agriculture. Second, the Chinese government should promote the development of digital inclusive finance in areas with financial development below the threshold. Third, different regions should implement differentiated digital economies to promote high-quality agricultural development.

Study on the Influence of Digital Economy on High-quality Trade Development Under the "Double Cycle" Pattern

With the deepening of globalization and the rapid development of digital technology, digital economy has become a new important force to promote economic growth. The new development pattern of "double cycle" proposed by China focuses on realizing the mutual promotion of internal circulation and external circulation on the basis of expanding domestic demand. This paper aims to explore in the "binary" development pattern, based on the benchmark regression study how digital economy has a positive impact on trade quality development, the results show that the digital economy to improve the level of trade facilitation, promote the trade structure optimization, accelerate the trade pattern innovation, and by promoting the proportion of trade in services effectively promote the high quality development of China's trade. At the end of the paper, the countermeasures and suggestions are put forward.

The impact of artificial intelligence technology innovation on economic development -- from the perspective of generative AI products

The new generation of artificial intelligence products, represented by ChatGPT and Wenyan Yixin, is rapidly and extensively integrating into human production and life at an unprecedented pace, breadth, and depth. Generative artificial intelligence possesses distinct characteristics and functionalities compared to rule-based artificial intelligence, exerting a more prominent dual impact on the high-quality development of China's economy. On the one hand, it can promote high-quality economic development through empowering effects such as innovation-driven effects, enhanced production efficiency, and industrial transformation and upgrading effects. On the other hand, it may give rise to deep-seated risks, including labor market disruptions, market monopolization issues, national security risks, and misinformation phenomena, which could hinder high-quality economic development. It is crucial to have a correct understanding and a scientific approach, leveraging its positive effects while proactively addressing negative impacts, guiding it to better serve the needs of China's high-quality economic development.

A three-level meta-frontier directional distance function approach for carbon emission efficiency analysis in China: convexity versus non-convexity

Achieving carbon peaking and carbon neutrality goals is a fundamental requirement for advancing high-quality development in China. Carbon emission efficiency (CEE) indicates the proportion of optimal emissions to actual emissions in the production system, providing a basis for reasonable carbon emission reductions. To facilitate the realisation of China's goals, this paper analyses CEE and the carbon emission reduction potential in China from 2001 to 2020. Considering the heterogeneity of both regions and industries, this paper proposes a three-hierarchy meta-frontier directional distance function (DDF) method to measure CEE under convex and non-convex assumptions of production possibility set (PPS). The empirical results show that the assumption of convex or non-convex axiom on the innermost PPS has a great impact on efficiency distribution, and the distribution of technology gap rate (TGR) is more affected by the selection of convex or non-convex assumption compared with the distribution of CEE. Currently, China's carbon emission efficiency remains low, mostly due to management inefficiency. The primary industry has more advanced emission reduction technologies than the other two industries. The eastern region has a large potential for carbon emission reduction because of its high carbon emission base, despite its high efficiency.

Can smart cities reduce labor misallocation? Evidence from China

The marketization of factors in China lags behind that of products, and this lag is directly manifested as insufficient effective supply of labor, rising labor costs of enterprises, and serious distortion of labor resource allocation, which to a great extent restricts the economic transformation from “quantity” to the “quality” growth. The labor allocation effect of smart cities plays an important role in promoting the transformation to high-quality development in China, but there is still a lack of empirical research testing this effect. Based on panel data of 151 cities at the prefecture level and above for the period 2006–2018, this paper uses a DID model to evaluate the impact of smart city pilot projects on labor misallocation. The results show that, first, smart cities can significantly reduce labor misallocation, and this finding holds under a series of robustness tests. Second, smart cities can reduce labor misallocation through the formation of industrial agglomeration and the upgrading of the industrial structure. Third, the effect of smart cities was more significant in central and eastern cities and large-scale cities than in western cities and small and medium-scale cities. Fourth, smart cities have a significant spatial spillover effect on the reduction of labor misallocation.