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Abstract: Commercialization transformation and technological transformation serve as critical instruments for driving governmental reform and advancing the modernization of state governance in the 21st century. There are many studies on single transformation of commercialization transformation and technological transformation, but few on the collaborative transformation of the two. This paper employs a single-case study of Elon Reeve Musk’s "Hundred Days' Reform" (a metaphor for rapid innovation cycles) to explore the enabling mechanisms of synergistic commercialization-technological reform in modernizing state governance. The findings reveal that the empowering effect of such synergistic reforms is mediated through adaptive governmental governance. Specifically, this dual reform elevates the modernization of state governance—encompassing the modernization of governance concepts, systems, and capacities—while technological reform (progressing from embedding to matching) plays a pivotal synergistic role. Consequently, advancing commercialization reform through marketization, institutional restructuring, and organizational adjustments fosters adaptive governance. This, in turn, facilitates iterative synergy and coupling with technological reform (from embedding to matching), ultimately propelling the modernization of state governance.Abstract: Commercialization transformation and technological transformation serve as critical instruments for driving governmental reform and advancing the modernization of state governance in the 21st century. There are many studies on single transformation of commercialization transformation and technological transformation, but few on the collaborative tr...Learn More
Abstract: The financing difficulties of small and medium-sized enterprises (SME) have always been a concern. Many scholars have studied their influencing factors, but with the participation of microcredit companies, the influencing factors will change. This study focuses on identifying the key factors influencing SME financing in the context of microcredit company participation. The study synthesizes previous research to identify nine key influencing factors and proposes corresponding hypotheses. A logistic regression model is then established to analyze survey data collected from SMEs in China. The results show that enterprise management standards, reputation, policy support, financial system completeness, and the degree of information symmetry are the most significant factors, all of which are positively correlated with credit availability. The research has also found that microcredit companies have expanded the financing channels for SMEs. The results showed that SMEs could substantially benefit from the expanded financing channels to gain vitality in the financing monopoly of large enterprises. Results also revealed that microcredit companies could help SMEs solve financing information asymmetry, tackle financing allocation constraints, and address structural deficiencies in financing systems. The findings provide significant insights into both theory and practice.Abstract: The financing difficulties of small and medium-sized enterprises (SME) have always been a concern. Many scholars have studied their influencing factors, but with the participation of microcredit companies, the influencing factors will change. This study focuses on identifying the key factors influencing SME financing in the context of microcredit c...Learn More
Abstract: Since the reform and opening-up, China relied on its abundant resource endowment and advantages in cheap labor to deeply participate in the global production division led by developed countries, promoting the rapid expansion of the equipment manufacturing industry. However, participating in global production division of labor in this way has locked China's equipment manufacturing industry in the low-end link of the global value chain. How to break through the low-end lock in the value chain and accelerate the transition to the mid and high end is a key issue that urgently needs to be addressed for China's equipment manufacturing industry to achieve high-quality development. Against the backdrop of unprecedented changes in a century, China put forward a new development pattern of "domestic circulation as the mainstay, and domestic and international dual circulation promoting each other" based on the situation. By stimulating domestic demand, new impetus has been injected into promoting high-quality development of the Chinese economy. Based on this, this paper investigates how domestic circulation influences value chain upgrading in the equipment manufacturing industry. From a value-added decomposition perspective, the study constructs indicators to measure domestic circulation, domestic and international value chains, and overall value chain status. Using inter-provincial input-output data, the empirical analysis finds that domestic circulation significantly enhances domestic value chain upgrading but hinders the upgrading of international and overall value chains. Robustness checks, including variable substitutions and instrumental variable methods, confirm the reliability of these findings. The results suggest that to achieve comprehensive value chain upgrading, enterprises should strengthen their domestic advantages while integrating into global networks. Policymakers should prioritize innovation, balance domestic and international development, and ensure smooth international circulation. This study offers theoretical insights and practical policy implications for enhancing China’s equipment manufacturing value chain.Abstract: Since the reform and opening-up, China relied on its abundant resource endowment and advantages in cheap labor to deeply participate in the global production division led by developed countries, promoting the rapid expansion of the equipment manufacturing industry. However, participating in global production division of labor in this way has locked...Learn More
Abstract: This paper focuses on China’s double carbon goal and addresses the challenges of high carbon emissions from excessive fossil fuel consumption and low energy efficiency, aiming to explore the impact mechanisms of environmental regulation with carbon tax as the core and technological progress on China’s economy and environment. It constructs a dynamic general equilibrium model encompassing four sectors: household, government, polluting enterprises and non polluting enterprises as well as two systems: economic system and environmental system, with parameters calibrated based on China’s actual economic data and existing literature research methods, and dynamic market clearing analysis involving administrative and market behaviors adopted for in-depth research. The study finds that increasing environmental taxes leads to U-shaped growth in residents’ utility with short-term decline due to enterprises delayed technological adjustment and tax transfer while long-term improvement driven by technological progress, and environmental taxes also promote enterprises green technological innovation and output expansion; notably, the synergistic effect of environmental regulation and technological progress significantly boosts enterprise productivity, increases the production share of non polluting goods and strengthens the government’s environmental governance capacity, ultimately achieving a win-win for economic development and environmental improvement. To advance the carbon peaking and carbon neutrality goals, China should prioritize tax-based environmental regulation, improve the national carbon emission monitoring and management platform, vigorously promote industrial structure upgrading, increase support for green technology research and development, expand government investment in pollution control and fully implement supporting policies to optimize the energy structure and ecological environment.Abstract: This paper focuses on China’s double carbon goal and addresses the challenges of high carbon emissions from excessive fossil fuel consumption and low energy efficiency, aiming to explore the impact mechanisms of environmental regulation with carbon tax as the core and technological progress on China’s economy and environment. It constructs a dynami...Learn More
Abstract: Since the construction of the input-output model by Leontiv in the 30s of the 20th century, it has gradually developed into an important analytical tool to systematically describe the correlation and structural characteristics between economic sectors. The model quantifies the quantitative relationship between intermediate products and final demand by constructing an input-output table, and reveals the direct and indirect dependencies between departments with the help of direct consumption coefficients and Leontiev inverse matrices. With the increasing complexity of the economic system, traditional static models have gradually become inadequate in describing dynamic processes and spatial correlations, prompting scholars from many countries to conduct in-depth discussions on model dynamics, multi-regional expansion, and cross-field integration. This paper systematically sorts out the theoretical context, basic framework and development context of the input-output model and its development context in various fields such as environmental economy, international trade, and financial risk, summarizes the key explorations made by scholars at home and abroad in the improvement and frontier expansion of the model, and provides theoretical reference and methodological support for subsequent research.Abstract: Since the construction of the input-output model by Leontiv in the 30s of the 20th century, it has gradually developed into an important analytical tool to systematically describe the correlation and structural characteristics between economic sectors. The model quantifies the quantitative relationship between intermediate products and final demand...Learn More
