Table of Content

25 January 2025, Volume 0 Issue 1

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Studying and Implementing the Spirit of 3rd Plenary Session of the 20th CPC National Congress

The Core Essence of Xi Jinping's Important Discourse on Comprehensively Deepening Reform

Duan Yan, Liu Xin-tian

2025, 0(1):  3-11. 

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In the new era, Xi Jinping has coordinated the international and domestic situations and put forward a series of original, pioneering, and epoch-making ideas and viewpoints in the practical exploration of promoting reform from local exploration and breakthrough to comprehensive deepening, forming Xi Jinping's important discourse on comprehensively deepening reform. This important discourse clearly proposes that the direction of reform is to continuously promote the self-improvement and development of the socialist system, and emphasizes the need to strengthen and improve the leadership of the Party to ensure that the reform always advances in the correct political direction, pointing out the fundamental question of which direction to comprehensively deepen the reform in. It places emphasis on taking the improvement of people's well-being as the starting point and foothold of the reform, closely relying on the people to push the reform forward in the process of reform, realizing that the fruits of reform and development will benefit all the people more and fairly, and clarifying the value orientation of comprehensively deepening the reform with the people as the center. It proposes a series of important methodologies on comprehensively deepening reform, including adhering to integrity and innovation, adhering to a systematic approach, and adhering to a problem oriented approach. This important discourse not only enriches and develops the socialist reform ideas of classic Marxist writers, promotes the practice of comprehensively deepening reforms in the new era, but also makes important contributions to promoting global common development.

The Basis, Mechanism, and Path for Building a New Type of Production Relationship through Comprehensive Deepening of Reform

Li Guo-quan, Cai Fang

2025, 0(1):  12-22. 

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Relying on comprehensive deepening of reform to develop new production relations is an inevitable choice to adapt to the new changes in the movement of fundamental contradictions in Chinese society in the new era. From the perspective of possibility, both of them take the liberation and development of new quality productive forces as the core standard, meet the people's growing needs for a better life as the value attribution, and are unified in the practice theme of Chinese path to modernization. The new production relations are not only a complex system containing various elements in production activities, but also an important link in the organic structure of human social development. From a theoretical perspective, it is necessary to rely on holistic reforms to construct a multidimensional and three-dimensional new type of production relationship; we need to rely on expansionary reforms to enhance the digital interactivity of new production relations; we need to rely on collaborative reform to clarify and improve the focus of the new type of production relations in grasping the logic of the role of“productivity-production relations-superstructure”. From the perspective of practical path, in the process of further deepening reform comprehensively, we must adhere to and improve the socialist basic economic system, and construct a new type of production relations that are compatible with socialism; establish a sound system and mechanism for developing new quality productive forces according to local conditions, and form a new type of production relationship that is compatible with new quality productive forces; accelerate the construction of institutional mechanisms to promote the development of the digital intelligence economy, and develop new production relations that are compatible with the digital intelligence age.

Economy and Management

Catching-Up Paths of Latecomers in Different Disruptive Innovation Market Situations: A Multi Case Study

Hu Hai-bo, Mao Chun-bing, Jiang Hao-tian

2025, 0(1):  23-34. 

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Adopting differentiated innovation strategies in different market contexts is the key for latecomers to catch up. The existing researches mainly focus on the catching-up problem of latecomers in the old market scenario, neglecting the catch-up strategies of latecomers in different market scenarios. Based on three types of market scenarios for disruptive innovation, this study explores the catching-up strategies and paths of latecomers in different disruptive innovation market scenarios through a multi case study method. The findings show that: (1) there are differences in the driving forces and means for latecomers to catch up in different disruptive innovation market scenarios; (2) in different disruptive innovation market scenarios, latecomers adopt different innovation strategies to catch up. In the old market scenario, latecomers mainly adopt exploitative innovation strategies, while in the new market scenario, latecomers mainly adopt exploratory innovation strategies. In the transition from the old market to the new market, latecomers successively adopt exploitative innovation strategies and exploratory innovation strategies; (3) in the context of disruptive innovation market, there are three paths for latecomers to catch up: sustained, disruptive, and compound. Therefore, the latecomers should enter the suitable disruptive innovation market scenarios according to their actual conditions and adopt their matching innovation strategies and catching-up paths.

The Resilience of the Manufacturing Industry Chain Enabled by Digital Economy: Multi-Dimensional Mechanism and Space Spillover

Zhang Li, Chen Kai, Li Han-jun

2025, 0(1):  35-47. 

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Improving the resilience and safety level of the manufacturing industrial chain is not only the need to build a new development pattern, but also the core content of constructing a modern economic system with Chinese characteristics. Based on the panel data of prefecture level cities in China from 2012 to 2022, this study explores the role and spatial effects of the digital economy in enhancing the resilience of the manufacturing industry chain. The findings show that, firstly, digital industrialization has driven the deepening of the data value chain through digital technology, and the digitization of industries has strengthened the basic capabilities of traditional industries through the use of digital technology, jointly driving the modernization and upgrading of the manufacturing industry chain. Secondly, the positive impact of the digital economy on the resilience of the manufacturing industry chain exhibits a non-linear characteristic of increasing marginal effects, indicating that the “Metcalfe's Law”is fully applicable in upgrading the resilience of the manufacturing industry chain. Thirdly, the digital economy can improve the resilience of the manufacturing industry chain by strengthening the synergistic agglomeration effect and enhancing the technological innovation effect of industries. Fourthly, the digital economy has a positive spatial spillover effect on the resilience of the manufacturing industry chain. Therefore, policies for industrial chain reform should be optimized around the external spillover effects of the digital economy, with a focus on technological innovation and industrial synergy agglomeration. Policies should be classified and implemented to further enhance the resilience and independent controllability of the manufacturing industry chain.

Insurance and Security

Investigation and Analysis of the Boost Effect of Agricultural Insurance Technology on Inclusive Insurance

Yu Xing-ran, Jin Fei, Su Fang

2025, 0(1):  48-61. 

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Based on the data of a thousand villages survey conducted by Shanghai University of Finance and Economics in 2023, this paper analyzes the development of the inclusive insurance and other commercial insurance in rural areas, as well as the development of agricultural insurance technology and Internet insurance, then it verifies the boost effect of agricultural insurance technology on inclusive insurance and other commercial insurance by using empirical analysis method. The findings show that agricultural insurance technology plays a significant role in promoting the inclusive insurance, and also has a significant incentive role for rural residents to buy commercial pension insurance in the future. Specifically, agricultural insurance technology has played a positive role in promoting the inclusive insurance by improving the operating efficiency of insurance companies and farmers' satisfaction with insurance. The research conclusions provide a new idea for vigorously developing rural inclusive insurance, enhance the role of promoting inclusive insurance by developing insurance technology, and then radiate the healthy and rapid development of rural commercial insurance, so as to improve the level of farmers' security.

Research on the Construction of Adjustment Mechanism for Basic Pension Benefits of Urban and Rural Residents: Simulative Calculation Based on Guangdong Province

Zhu Huo-yun

2025, 0(1):  62-73. 

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Based on relevant national policies and practical experience at home and abroad, and guided by the principles of stability, adequacy, fairness, affordability, and incentives, this paper constructs an automatic adjustment mechanism for basic pension benefits of urban and rural residents' basic pension insurance, which consists of a trigger mechanism, a fairness mechanism, a constraint mechanism, and a fallback mechanism. It also uses the management data from Guangdong Province and the system dynamics method to simulate and calculate the adjustment status of the basic pension benefits from 2023 to 2035. The simulation results indicate that the constructed compensation adjustment mechanism takes into account the adequacy of compensation, income equity, and fiscal affordability. On this basis, specific policy recommendations are proposed from the aspects of design principles, institutional structure, incentive mechanisms, and fiscal responsibility division, providing useful reference for other regions and even the whole country to establish a mechanism for adjusting the basic pension benefits of urban and rural residents.

Researches on Agricultural, Rural Aress and Farmers

Has Agricultural Socialization Service Improved Farmers' Economic Welfare

Zhang Li-guo, Li Ying

2025, 0(1):  74-85. 

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Agricultural socialized services are crucial initiatives for enhancing agricultural production, which has far-reaching influence on farmers' agricultural production behaviors and economic welfare. Based on the survey data of rice farmers in Jiangxi Province in 2022, this study utilizes an endogenous switching model to analyze the impact of agricultural socialized services on farmers' economic welfare and examines the effects of agricultural socialized services on farmers' economic welfare from the perspectives of labor transfer and agricultural productivity increase. The findings reveal that agricultural socialized services can effectively improve farmers' economic welfare, the robustness test results support this conclusion. The mechanism analysis shows that agricultural socialized services can improve farmers' economic well-being through labor transfer effects and agricultural yield increase effects. Further analysis shows that agricultural socialized services have a more significant positive economic well-being for the new generation farmers with a higher degree of adoption of the services. Therefore, it is necessary to improve the agricultural socialized service system, increase the quality of agricultural socialized services from the two aspects: promoting non-agricultural employment and increasing agricultural production, and provide supporting measures, so as to improve the economic well-being of farmers.

Constructing Three Systems to Promote Agricultural Modernization: From the Perspective of Production Factors

Wang Jia-mei, Hu Xiang-dong

2025, 0(1):  86-99. 

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Agricultural modernization is an important part of realizing Chinese modernization. Based on theoretical analysis and case analysis, under the framework of modern agricultural industrial system, production system and management system, this study explores the path of constructing the three systems of modern agriculture by using multi-case study method from the perspective of agricultural production factor input. The findings show that the construction of modern agricultural production system needs to modernize traditional production factors, increase the input of modern factors, and rely on modern science and technology to promote the specialization, standardization, greening, intelligence and sustainable development of agricultural production. The modern agricultural management system promotes the cooperation and alliance between small farmers and new business entities through the flow of factors; supported by socialized services, it can drive small farmers to gradually move towards modern agriculture. The construction of a modern agricultural industry system is dominated by modern factor inputs. In addition to investment in funds, talents, and management, it is also necessary to fully utilize information technology to extend the industrial chain. Therefore, the system innovation and reform need to be deepened to promote the efficient flow and optimal allocation of agricultural production factors; accelerate the integration and decentralization of modern elements to empower the transformation, upgrading, and green development of traditional agriculture; and build a diversified agricultural service system to enhance the ability of small farmers to integrate with modern agriculture.

New-Quality Productivity Empowering the Value Realization of Agro-Ecological Products: Basic Logic, Mechanism and Key Pathway

Liu Wei

2025, 0(1):  100-111. 

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The value realization of agro-ecological products is an essential requirement for promoting rural revitalization and achieving high-quality development. As a new form of productivity development in the new era, the new quality productivity empowers the logical sorting, mechanism deconstruction, and path exploration of the value realization of agricultural ecological product, which helps to create a new situation for rural revitalization. Based on theoretical logic, value logic, and practical logic, this paper deconstructs the mechanism of how new quality productivity empowers the production, distribution, exchange, and consumption of agricultural ecological products from the perspective of technology-factor-industry. It further proposes a path for empowering the value realization of agricultural ecological products with new quality productivity: In the production process, to strengthen the research, development, promotion and application of the green and digital technologies; in the allocation process, to strengthen the research, development and investment in investigation and monitoring technology and value accounting technology; in the exchange process, to improve the quality of data element supply and establish a data sharing platform; in the consumption sector, to optimize industrial layout and promote deep integration of industries.

Law and Economy

An Analysis of the Market Power under the Antimonopoly Law: Weight Adjustment and Logic Remodeling

Jiang Shan

2025, 0(1):  112-126. 

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Under the anti-monopoly law, market power is the key to determine whether monopoly behavior can be achieved, implemented and have substantial market impact. For a long time, the cognition of market power has been blurred in its quantitative and qualitative dimensions, and has formed an inherent pattern that market power determines the competitive effect as a one-way street, which has failed to guide practical development effectively. To improve the legal interpretation, first of all, we should clarify the institutional expression of market power, establish the internal dimension of the market power evaluation standard, and examine the significance and limitation of market share as an indicator quantitatively and qualitatively. Next, based on the characteristics of the digital market, we should analyze the weight adjustment of traditional evaluation factors after absorbing such key factors as network effect and lock-in effect in market power evaluation, and confirm the logic of evaluation centered on competitive effect analysis. Finally, we should break the conception that the relationship between market power assessment and competitive impact analysis is a one-way street, establish the external logic of two-way correlation between them, and reshape the normative structure and key nodes of market power assessment accordingly.

Ethical Risks and Legal Governance in the Application of Artificial Intelligence in the Financial Field

Jiang Jun, Li Mu-han

2025, 0(1):  127-136. 

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Although artificial intelligence has triggered disruptive changes in the traditional financial business, as a new scientific and technological factor, it has also caused complex social conflicts in the financial field. There is a conflict between the technological logic of artificial intelligence and the ethical logic in reality, and there is a lack of coordination between it and the corresponding financial system and regulatory mechanisms, resulting in ethical risks that differ from those in the traditional financial field. The technological core of artificial intelligence includes three levels: big data, algorithms, and automated decision-making. The above-mentioned technological core has caused certain damage to traditional ethical foundations such as financial rationality in theory. The intelligent technology has caused impacts such as infringement of financial consumers' privacy rights, substitution of self-determination rights, and unclear legal responsibilities. It can be seen that the ethical risks of artificial intelligence in financial sector need to be addressed from a legal perspective for practical and root causes. Therefore, restrictions should be imposed on the application of artificial intelligence technology, big data foundations should be reviewed, and algorithms should be effectively monitored, so as to avoid and control the ethical risks of artificial intelligence.