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Published in last 1 year |  In last 2 years |  In last 3 years |  All Please wait a minute... For Selected: Download Citations EndNote Ris BibTeX Toggle Thumbnails Select Can the Digital Economy Promote Provincial Export Dual Margin Expansion? Huang Xiao-min, Liang Jun-wei Contemporary Finance & Economics    2026, 0 (9): 110-124.   Abstract （30）            Knowledge map    Save As a new engine driving China's economic growth, the digital economy plays a crucial role in stabilizing trade. This paper utilizes product-level trade data from China’s Customs Database and the CEPII-BACI Database from 2015 to 2021 to measure the extensive and intensive margins of provincial exports and empirically examines the impact and underlying mechanisms of the digital economy on these margins. The findings indicate that the digital economy significantly promotes the extensive margin of provincial exports, while its impact on the intensive margin is not statistically significant. This effect varies across industries, regions, and importing countries. Specifically, the digital economy exerts a stronger promoting effect on the extensive margin in data-intensive and technology-intensive industries. However, in sectors characterized by high information transparency and intense competition, the digital economy may suppress the intensive margin of exports. Moreover, the higher the digital economy development levels of both trading partners, the more pronounced the expansion of the extensive margin. The signing of Free Trade Agreements (FTAs) can further enhance the digital economy’s effect on expanding the extensive margin. Further analysis reveals that trade costs, intermediate goods imports, and international innovation cooperation are key channels through which the digital economy influences the extensive margin expansion of exports. Based on these findings, the government should strengthen digital infrastructure and international cooperation, promote enterprise innovation and the digital transformation of traditional industries. At the same time, it is essential to actively participate in the formulation of international digital trade rules and deepen economic and trade cooperation with developed countries to comprehensively enhance the supportive role of the digital economy in export development. Reference | Related Articles | Metrics | Comments（0） Select Green Technology Transfer and Regional Environmental Pollution Control Li Lin-na, Lin Hong-ying, Wang Yu, Di Jie Contemporary Finance & Economics    2026, 0 (9): 125-138.   Abstract （31）            Knowledge map    Save Against the backdrop of building a nationally integrated market for technology factors, promoting the diffusion and application of green technologies through market mechanisms has become a critical pathway for strengthening regional environmental pollution control and advancing the green transition. Using green patent transfer data for Chinese prefecture-level cities from 2006 to 2022, this study systematically examines the impact of green technology transfer on regional environmental pollution control and its underlying mechanisms through two-way fixed-effects models, instrumental-variable methods, and word-frequency analysis. It further proposes pathways for overcoming bottlenecks in green technology transfer from a full-cycle perspective. The results show that green technology transfer significantly improves regional environmental pollution control, and this finding remains robust after a series of robustness checks. Mechanism analysis indicates that green technology transfer improves regional environmental pollution control through two channels. The resource allocation effect is reflected in the optimized allocation and restructuring of green technological resources, while the indigenous innovation effect is reflected in the enhancement of local green innovation capacity. A full-cycle analysis of green technology transfer covering demand, process, and application further shows that its positive effect on environmental pollution control becomes significantly stronger as regional emphasis on environmental protection increases, social support conditions improve, and technological absorptive capacity strengthens. Accordingly, efforts should be made to improve market mechanisms for green technology transactions, strengthen regional innovation capacity, and establish a full-cycle support system, thereby effectively fostering a virtuous cycle of technology transfer, environmental pollution control, and green development. Reference | Related Articles | Metrics | Comments（0） Select Theoretical Logic and Practical Effects of“the Belt and Road Initiative”in Promoting Globalizationunder the Background of high-standard opening-up Wang Qing, Yang Quan Contemporary Finance & Economics    2026, 0 (8): 98-111.   Abstract （21）            Knowledge map    Save The Belt and Road Initiative (BRI) has contributed Chinese wisdom to the development of globalization and construction of a more balanced and inclusive globalization model. Interpreting the effective exertion of its functionsfrom a global perspective is conducive to providing practical evidence for the high-quality development and steady progress of the BRI. From both theoretical and empirical dimensions, this paper systematically explores the mechanism and effect of the BRI on the process of globalization. It reveals that the BRI has a significant globalization promotion effect. Heterogeneity analysis reveals that the globalization promotion effect of the BRI is more significant in countries with high and medium-high income, high level of financial development, current account deficit, and those situated along the Land Silk Road. Mechanism research demonstrates that the BRI has a positive effect on the global participation of countries along the route through connectivity in policy, infrastructure and trade. Therefore, China should continue to adhere to the major strategy of high-standard opening up, deepen high-quality development of the BRI, further promote“the Five Channels”, construct mechanisms for sustainable development cooperation, benefit distribution, and support systems. This will help solve the real-world dilemma of globalization and advance the building of a community with a shared future for mankind. Reference | Related Articles | Metrics | Comments（0） Select Cost Reduction and Efficiency Improvement: How Does the Unified National Market Enhance Firms’ Total Factor Productivity Tang Xiao-bing, Zeng Xiang-yan Contemporary Finance & Economics    2026, 0 (8): 112-124.   Abstract （25）            Knowledge map    Save Exploring how the unified national market affects corporate total factor productivity (TFP) is essential for deepening its construction and revitalizing microeconomic entities. Using data from Chinese A-share listed firms and provincial-level observations from 2010 to 2023, this paper empirically examines the TFP-enhancing effect of the unified national market. The results show a significant positive effect. Mechanism analysis indicates that this effect operates through two channels: reducing production costs and improving supply-demand matching efficiency--a“cost reduction and efficiency improvement”pathway. Heterogeneity analysis reveals that the effect is significant in the eastern and western regions and in areas with low administrative monopoly. It is particularly pronounced in labor-intensive industries and among firms facing high financing constraints, with high leverage ratios, or with high director network centrality. Accordingly, we propose unwavering efforts to advance the unified national market, remove hidden barriers in regions with severe administrative monopolies, smooth the transmission channels of cost reduction and efficiency gains, and enhance firms’ ability to align with and integrate into the national market. This will help translate the advantages of China’s mega-market into tangible TFP growth. Reference | Related Articles | Metrics | Comments（0） Select Research on the Impact of Promotion of Integration of Domestic and Foreign Trade on the Domestic Value-Added Rate of Enterprises’ Exports Li Ming-guang, Xu Pei-yuan, Wang Ya-bei Contemporary Finance & Economics    2026, 0 (7): 98-113.   Abstract （18）            Knowledge map    Save Strengthening the reform of integration of domestic and foreign trade, fully tapping into the potential of the massive domestic market, is crucial for shaping new export competitive advantages centered around high added value. By incorporating the intermediate goods into a classic heterogeneous firm trade model and extending the theoretical framework established, this paper studies the impact and mechanisms of domestic and international trade integration on the domestic value-added rate of enterprise exports(DVAR), and conducts an empirical test based on micro-level enterprise data from China. The findings show that the integration of domestic and foreign trade, which balances domestic sales and exports, can effectively enhance the DVAR of enterprise exports, and this conclusion remains valid after correcting for reverse causality, omitted variable issues, and multiple robustness tests. Moreover, heterogeneity analysis results show that the positive effect is mainly reflected in the eastern region, foreign capital and general trade enterprises. Mechanism examination research reveals that domestic and international trade integration can increase the DVAR of Chinese enterprise exports through domestic substitution of intermediate goods and the promotion of R&D innovation. Therefore, improving the institutional systems for domestic and international market circulation, and then facilitating enterprises’ integration of domestic and foreign trade to build an independent and controllable domestic supply chain system, which in turn reduces reliance on imported intermediate goods and enhances the innovation drive and capability of enterprises, is a key pathway to shaping new competitive advantages in China’s export by leveraging the vast domestic market. Reference | Related Articles | Metrics | Comments（0） Select Artificial Intelligence, Industrial Integration, and Industrial Chain Resilience Liu Jin, Li Xiao-hong Contemporary Finance & Economics    2026, 0 (7): 114-126.   Abstract （11）            Knowledge map    Save Artificial intelligence, as a new generation of general-purpose technology, has been applied in various fields such as intelligent manufacturing, supply chain management, and risk warning, continuously expanding its application scenarios. It promotes the optimization and reorganization of production factors, reshapes the industrial division of labor pattern, and enhances the efficiency of resource allocation. Its innovative development has become an important driving force to overcome the resilience dilemma of the industrial chain and is also becoming the core engine for the new round of technological revolution and industrial transformation. Based on the panel data of 281 cities in China from 2011 to 2023, a dual machine learning model was used to systematically examine the impact of artificial intelligence on the resilience of industrial chains. The findings are as follows: First, AI promotes industrial chain resilience. This effect is more pronounced in cities with digital ecological advantages, such as those possessing data trading platforms, high levels of financial technology development, and well-established digital infrastructure, as well as in non-resource-based and non-old industrial base cities. Second, AI enhances the resilience of industrial chains through deepening industrial integration. Third, the impact of artificial intelligence on the resilience of industrial chains has a nonlinear threshold characteristic. The effect of technological investment is a single threshold effect, and it can only activate its enabling role by crossing the critical value; digital talents show a dual threshold, and their reserves need to successively break through two critical points to enable the gradual and stepwise rise of the promoting effect of artificial intelligence. Therefore, it is necessary to further strengthen the deep integration of artificial intelligence and industrial chains, consolidate the foundation for resilience improvement; build a comprehensive supporting policy system for industrial integration, form a coordinated promotion path; strengthen the threshold management of key supporting elements, implement phased investment and cultivation plans, and especially increase investment in common technology research and development platforms for artificial intelligence, computing infrastructure, and other fields with public goods attributes. Reference | Related Articles | Metrics | Comments（0）