Table of Content

21 January 2021, Volume 0 Issue 03

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Three Logical Levels of Xi Jinping’s Economic Thought

ZHANG Ding-xin, DAI Li

2019, 0(03):  85. 

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From the perspective of the forms of economic discourse,“Xi Jinping’s economic thought”belongs to the academic titles of the concept of“Xi Jinping’s socialist economic thought with Chinese characteristics in the new era”established by the Party Central Committee in the academic circle. There are three logical levels in it. Among them, the“premise level”is a critical examination and macro-prejudgment of China’s economic development achievements and the state of world economic development, indicating the practical conditions or epistemological premise that Xi Jinping’s economic thoughts are based on; the“target level”is the revelation of the purpose of China’s economic development, which solves such problems as“for whom to produce?”“what to produce?”at the level of contemporary Chinese economics and reflects the value orientation of Marxist political economics and the new level of people’s demands on products (consumer goods); and the“practical operation level”belongs to the new production methods or direct action measures at the new stage of China’s economic development, highlighting the importance of the problem of“how to produce”in contemporary Chinese economics. The analysis of Xi Jinping’s economic thoughts on the above mentioned logical levels can highlight the academic rationality of the achievements of Chinese Marxist economics.

Three Understanding Dimensions of Xi Jinping’s Ecological Civilization Thought

LI Xiu-xiang1, WANG Zhong-hua1,2

2019, 0(03):  86. 

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In May 2018, the National Ecological Environmental Protection Conference officially established Xi Jinping’s ecological civilization thought. Comrade Xi Jinping has illuminated the ecological values, clarified the six principles of ecological civilization construction, and deeply analyzed the necessity of ecological civilization construction, these ideas need to be understood and interpreted from the conceptual dimension. Comrade Xi Jinping has put forward the grand blueprint for the construction of beautiful China, comprehensively expounded the objectives and tasks of ecological civilization construction, clarified the five major systems construction of ecological civilization, and pointed out the overall thinking of ecological civilization construction. These ideas need to be understood from the goal and strategic dimensions. Xi Jinping’s ecological civilization thought is an important part of Xi Jinping’s theory of socialism with Chinese characteristics in the new era. To grasp the core essence of Xi Jinping’s ecological civilization thought from the three dimensions of idea, goal and strategy, we can deeply understand the logical system of Xi Jinping’s socialist thought with Chinese characteristics in the new era and enhance the consciousness of ecological civilization action.

An Empirical Study of the Impact of Innovation Environment on the Technological Innovation Efficiency in the Yangtze River Economic Belt

XI Ming-ming

2019, 0(03):  87. 

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Based on the panel data of 108 cities in 11 provinces along the Yangtze River Economic Belt in 2006-2015, this paper conducts an empirical test of the impact of innovation environment on the regional innovation efficiency by making use of the fixed effect of the special panel metric and the random effect model. Then it conducts a robustness test by employing the space panel autoregressive two-stage least square method. The findings show that the impact of the infrastructure environment at the upper and middle reaches of the Yangtze River Economic Belt on the innovative efficiency is significantly higher than that at the lower reaches, that the promotion effect of economic environment on the innovation efficiency at the upper reaches of the Yangtze River is significant, but not significant at the upper and middle reaches of Yangtze River, that the improvement of the indirect financing environment cannot effectively promote the improvement of regional innovation efficiency, and that the impact of the humanistic education environment and the fiscal environment on regional innovation efficiency is not significant. Thus it is necessary to improve the innovation environment and promote the efficiency of regional technological innovation.

China’s Urban Housing System after 40 Years of Reform and Opening up: Evolutionary Logic and Prospects

WANG Yu-feng

2019, 0(03):  88. 

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China’s urban housing system and its evolution since the reform and opening up 40 years ago have been mainly based on the internal needs at several levels: (1) the development of socialist market economy with Chinese characteristics needs to explore the allocation mode of land resources under public ownership; (2) the rapid urbanization, urban-rural integration and demographic changes require to transform rapidly, orderly and effectively the non-urban land into urban land so as to be used in urban residential construction; (3) the characteristics of relevant financing methods under China’s fiscal and taxation system determine that land should be used as the main source of financing in urban constructions; (4) macroeconomic regulation and control and the development of cities in different regions need to be realized through the residential market, which is a channel with many related industries and obvious regional characteristics. Although the development of China’s urban real estate market has made great achievements, it is necessary to further deepen the reform of relevant fiscal and taxation and social security systems, optimize the land use mechanisms, and improve the efficiency of housing financing in the future urban housing market and corresponding institutional changes.

The Impact of Management Discussion and Analysis Information Content on Bank Loan Contracts: Taking GEM Listed Companies as an Example

WANG Ai-qun, HE Zi-cong, WANG Yi-lin

2019, 0(03):  89. 

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Management discussion and analysis information is an important part in the annual report of listed companies, which is like a pair of“wisdom eyes”lent to investors. The research on management discussion and analysis information has not yet extended to its usefulness in bank loan decisions. Taking the data of listed companies on the GEM of the Shenzhen Stock Exchange from 2009 to 2016 as research samples, this paper conducts such a study. The results show that if banks pay close attention to management discussion and analysis information transmitted by enterprises when making credit decisions, the overall information content and the classified information content of the management discussion and analysis can both affect bank loans, and the prospective information and the risk information concerning the business future development can exert more significant impact on bank loans. These results of this study can improve the theories for the management discussion and analysis information researches, especially offer an important supplement to the non-financial information researches in the context of the market environment of emerging developing countries, and promote the release of more useful management discussion and analysis information from the listed companies continuously and effectively in practice.

Dynamical Diffusion of Stock Market Risks in Complex Networks from the Perspective of Collective Behaviors

LOU Xiao-ling

2019, 0(03):  90. 

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By employing the collective behavior theory and the classical threshold model, this paper firstly studies the characteristics of investors’ behaviors in the stock markets, then based on that, it adds two elements of the complex network and the asynchronous time to establish an extended threshold model. Through computer simulation, it studies the dynamical diffusion of stock market risks in the complex networks. The findings show that:（1）firstly, when the characteristics of risk threshold value are activated, no matter what kind of the network structure is, there will be the stock market disasters; secondly, the expansion of the investor scale can increase the threshold value to activate stock market disasters, thus it can reduce the risk of stock market crash; thirdly, the risk volatility presents an interval effect, when the investment preference heterogeneity is highly convergent or divergent, the possibility of risk diffusion is less and the speed is slower in the complex network, the reason is that the complex network is easy to promote the trend more consistent or discrete, so as to reduce the risk of the whole system. However, in the normal securities markets, the investment preference heterogeneity is located at the intermediate state, the information dissemination of the complex network will drive the speed of risk diffusion to be faster, and the risk will be stronger and wider. Therefore, to take advantage of the power of “Internet Acquaintance Society” to promote the decision-making behaviors for still higher consistentance or higher dissociation can help to reduce overall risk of the financial system. This has certain implications for investors and financial system regulation.

Old-Age Insurance, Non-Farm Employment and Farmer’s Income Difference

YANG Jing1, DENG Da-song1, SHEN Yun2

2019, 0(03):  91. 

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Based on the data of China Health and Retirement Longitudinal Study (CHARLS) in 2015, this paper makes an analysis of the impact and its action mechanism of the basic old-age insurance for China’s urban and rural residents and non-farm employment on the income disparity of rural households by using the methods of ordinary least squares regression (OLS) and quantile regression. In general, the basic pension insurance has a significant effect on the income distribution of farmers, especially for lower-income farmers, the“pro-poor effect”is significant, which reflects that the old-age insurance can indeed reduce the income inequality among farmers in China. From the point of view of the regression of different points of farmers’ income, non-agricultural employment has a strong heterogeneity effect on farmers with different income status, that is, with the increase of the points of farmers’ income, it presents the inverted U-shaped curve characteristics of“first growth then decline”; and the income distribution effect of the middle and higher-end income farmers is the most significant, while that of the lower-income farmers is not obvious.

A Research on Inter-Provincial Redistribution Effect of Central Adjustment System for Basic Pension Funds

GUO Xiu-yun, SHAO Ming-bo

2019, 0(03):  92. 

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By making use of the relevant data from 2012 to 2016, this paper measures and calculates the overall effect and the structural effect of inter-provincial redistribution of the central adjustment system for basic pension funds on the basis of the analysis of the inter-provincial differences of the basic pension insurance development. The findings show that: (1) there are significant differences in the three dimensions, i.e., economic support, system support, and system demand, of each provincial pension insurance system; (2) the central adjustment system has the inter-provincial redistribution effect for balancing interregional pension burden, with the increase of the deposit rate, the redistribution effect will be greater, but the strength of the effect will be weakened; (3) if the contribution regions are relatively concentrated and the benefited regions are relatively decentralized, the result of the measurement will be more consistent with the development level of the pension insurance; (4) it is also found that the central adjustment system has a certain“adverse adjustment”effect, which is a challenge to the social equity of the system.

Will Geographic Differences Help to Boost Innovative Output of Agricultural Parks? An Analysis of the Mechanism Based on Complementarity and Overtaking

XIA Yan-lei

2019, 0(03):  93. 

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By constructing an endogenous growth model with“geographical differences”as the main explanatory variables, this paper makes an analysis of the process and effect of geographical factors influencing the innovation output of the agricultural park through the two mechanisms of“complementarity”and“catching-up”, then the panel data of 106 national agricultural science and technology parks from 2013 to 2016 is used for testing. The findings show that the“geographical differences”have a significant positive impact on the innovative output of agricultural parks, that the mechanism of this impact is either“complementarity”or“catching-up”, but the complementary effect is more obvious than the catching-up effect, and that the existence of“geographical difference”, through the innovative ability with the characteristics of“divergent upgrading”as an intermediary, can drive the innovative output of the parks to show a trend of growth convergence.

Poverty Alleviation and Rural Revitalization: Continued and Successive Practice in County Territory

ZHU Qi-ming

2019, 0(03):  94. 

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Poverty alleviation and rural revitalization are two important strategies to solve the problems of agriculture, farmer and rural area currently in China for the present and also for the tome to come. These two strategies have clear characteristics of continuity and succession at the county level and in the county area. The continuity is the overlapping relationship and integrality in time series, stressing the uniformity, and being reflected through the uniformity of strategy thought, strategy arrangement and supporting policies. The succession is the malposition relationship and interactive relationship in time series, stressing the difference, and being reflected through the time arrangement of the two strategies, the strategic targets, the strategic position and the graduality of the strategic contents. The governments at county level should fully recognize and appropriately handle the relationships of the two strategies, adhere to the policy of combining the far and the near, promote the implementation of rural revitalization while carrying out poverty alleviation.

A Study of the Relationship between Cultural Self-Confidence of the Youth and Aesthetic Education

FANG Qing

2019, 0(03):  95. 

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Cultural self-confidence of the youth and aesthetic education are closely related and complement each other. Cultural self-confidence of the youth is an important component of culture self-confidence and is the important foundation, goal and mission of aesthetic education. Aesthetic education is a major path to realize cultural self-confidence: taking culture self-confidence of the youth as the orientation and aim to carry out aesthetic education, so as to establish the cultural self-confidence of the youth; in carrying out aesthetic education, the relationships between inheritance and reform, between maintaining the self-characteristics and incorporating?things?of?diverse?natures, should be well handled, so as to make Chinese culture more advanced and stronger, and enhance the cultural self-confidence of the youth; taking the Internet as the important platform to carry out the esthetic education of Chinese culture, so as to provide the guarantee for the cultural self-confidence of the youth. In a word, in contemporary times, the cultural self-confidence of the youth has becomes a new direction for aesthetic education, as well as a significant strategy to maintain the advanced nature of Chinese culture, to strengthen the soft power of Chinese culture, to establish the cultural self-confidence of the youth, to cultivate the younger generation to become the socialist constructors and successors in the new era, and to realize the great rejuvenation of the Chinese nation and the peaceful rise of the country.

An Exploration of the Yixian County Hall in Beijing: Based on Local Chronicles and Diaries

HAN Ning-ping

2019, 0(03):  96. 

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Yixian County Hall in Beijing was founded mainly with private capital, of which the major source was the donation from both the officials and merchants, but not excluding the limited support from the local government, at this point, the government and the folk society showed a certain mutual support and complement. The management of Yixian County Hall had its own charter, however, it lacked compelling force. Since the founding of the Hall, its purpose had been established as serving the scholars who were taking examinations and the officials who were waiting for their assignments. Yixian Country Hall focused on imperial examinations, so its nature was a kind of imperial examination hall. Yixian County Hall played a significant role in enhancing regional identity, serving the imperial examinations, and uniting the people, which was helpful for local elite groups to stand out.

On the Accountability of Retaliatory Dismissal

MAO Jing

2019, 0(03):  97. 

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The accountability of retaliatory dismissal includes a series of theoretical combing and rule design, such as the basis of accountability, the mode of accountability, the constraints of the choice of accountability, the quantification of the amount of compensation, and so on. From the point of the basis of the accountability for the retaliatory dismissals, the retaliatory dismissal is in nature a tort behavior, which not only violates the employees’ right to work and other basic rights, but also violates the social and public interests. As for the behavior of retaliatory dismissal, the labor dispute handling agency may adopt a“heavy repairing, light punishment”mode of accountability or a“light repairing, heavy punishment”mode of accountability, the former taking the protection of the basic rights of employees as the foothold, the latter taking the protection of the social public interests as the support point. When choosing the retaliatory dismissal mode, the starting point should be whether the former position can be resumed, and the relevant constraints should be considered from the two perspectives of employer and employee. After the model of accountability for retaliatory dismissal is chosen, the specific amount of compensation should be calculated. The data model of compensatory compensation and punitive damages should be calculated, and the data models of compensatory compensation and punitive damages should be constructed separately to determine the amount of the two accurately.

An Empirical Study of the Influencing Factors on Judicial Freeze of Stock Pledging

GAO Wei-sheng, FAN Zi-yin

2019, 0(03):  98. 

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In recent years, with the rapid development of equity pledging business, the judicial freezing risk of large shareholders’ stock pledge has caused widespread concern. Based on the pledging data and judicial freezing data of listed companies from January 2010 to April 2016, this paper makes an analysis of the influencing factors on judicial freezing of stock pledging and their countermeasures. The results show that supervisory penalties on major shareholders and the industry distribution of underlying securities are the two most important factors affecting judicial freezing. If the major shareholders are punished by the regulatory authorities and the underlying securities belong to high energy consumption and excess capacity industries, the pledge will be faced with greater risk of judicial freezing. In addition, when the pledged shareholders are private enterprises and the holding target belongs to the high energy consumption and excess capacity industries, the major shareholders will be faced with even greater risks of judicial freezing under the circumstances of higher debt ratio. Therefore, to establish information sharing mechanism in the financial industry, to clarify business bottom line thinking and to carry out the task of supply-side reform and reducing production capacity shall be the countermeasures to prevent the risk of judicial freezing of pledge.

An Interpretation of Contemporary Values for Being a Man, for Learning and for Politics: Comment on The Wisdom of ‘The Analects of Confucius’ and Modern Civilization

LI Wei

2019, 0(03):  99. 

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