Table of Content

25 May 2022, Volume 0 Issue 3

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Study and Implementation of the Spirit of the Sixth Plenary Session of the 19th Central Committee of CPC

The Exploratory Course and Basic Experience of the Fiscal Policy of the Communist Party of China

LIU Xiao-quan, ZHONG Jin-fang

2022, 0(3):  3-12. 

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The exploration of the financial policy by the Communist Party of China has experienced four periods, i.e., the creation of the new democratic finance in the context of the new democratic revolution war, the implementation of the planned economy under the conditions of the planned economy during the socialist revolution and construction, the construction of the public finance under the conditions of market economy during the period of reform and opening up and socialist modernization, and the establishment of the modern financial system in the context of the national governance during the socialist new era with Chinese characteristics. The role of fiscal policy has undergone an evolution from being an important way to raise funds for the Revolutionary War at the beginning, to an important means of regulating the economy and public services later, and to becoming an important tool of national governance today.

Economy & Management

The Key Issues of the Guarantee of Emergency Supplies against Major Epidemics and Countermeasures from the Perspectives of Multi-Organizations and Multi-Stages

ZHANG Jian-jun, ZHOU Yi-zhuo, HUO Jia-zhen

2022, 0(3):  13-24. 

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The characteristics of major public health emergency, such as high uncertainty, high response requirements, high material demands, long duration and wide coverage, have sharply magnified their destruction to the economic and social operations, and posed great challenges to the theories and practices of supply chain management of the guarantee of the emergency supplies. Taking the multi-organizational collaboration and multi-stage operation of emergency material guarantee as the starting point, this paper sorts out, analyzes, and summarizes the research subjects, issues, methods, outcomes and insufficiencies related to emergency material guarantee from the levels of logistics and production capacity planning before disasters and the production and operation optimization during disasters. Then, faced with the characteristics and challenges of emergency supplies guarantee for major epidemics, it proposes some countermeasures and suggestions, including an emergency facility layout planning based on multi-organizational coordination, an emergency supply chain planning based on flexible production capacity strategy, an emergency supplies scheduling model and strategy design based on multi-organizational intelligent coordination, and a planning model design for supply chain emergency production based on the epidemic model.

Evaluation of Trade Policy, Fiscal Policy and Economic “Dual Cycle”Effect

GENG Shen, QIAO Han

2022, 0(3):  25-37. 

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In order to evaluate the impact of trade barriers and fiscal policies on domestic and foreign economic cycles, this paper constructs a dynamic stochastic general equilibrium model including the heterogeneity of tradable and non-tradable goods manufacturers and the profit markup of imported goods based on the small open DSGE model, so as to further analyze the impact of self-sufficiency degree of commodity on the economy. The findings show that trade barriers and tax-cut fiscal policies can promote the supply of domestic factors, increase the level of output, and inhibit the flow and output of foreign factors. In terms of specific policies, the export tax rebate policy has the best effect, which can promote domestic and foreign trade circulation and stimulate consumption. Reducing consumption tax will improve trade circulation and consumption levels other than commodity exports; reducing labor income tax will promote the export of intermediate goods and consumer goods, improve domestic and foreign consumption level, and restrain the inflow of foreign goods; lowering the capital gains tax will transform the national economy into an export-oriented economy, increasing the two-way trade in intermediate products, increasing the one-way exports of consumer goods, and lowering the consumption welfare of domestic residents; imposing tariffs will transform the economic model into a processing export-oriented type, increasing the import of intermediate products and the export of consumer goods, and reducing the export of intermediate products, the import of commodities and the level of household consumption. Increasing the proportion of non-tradable goods in the household consumption basket can improve the long-term steady balance of domestic and foreign consumer goods and factor products, reduce domestic price levels, and improve economic stability.

A Study of the Regional Innovation Gap from the Perspective of R&D Element Flow

LI Shi-qi, LIU Yun-yang

2022, 0(3):  38-49. 

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Over the past 40 years of reform and opening up, China’s economic development has made a qualitative leap, while at the same time, formed many imbalances. Among these imbalances, the imbalance of regional development is an important aspect. This will not only run counter to the goal of sustainable and stable development of China’s economy, but also bring about a negative impact on China’s economic and social stability. Therefore, from the perspective of R&D element flow and based on the data of 30 provinces (municipalities or autonomous regions) in China from 2002 to 2019, this paper adopts the quadratic assignment procedure in the social network analytical method to study the problem of the regional innovation and development gap. The results show that the R&D personnel flow is conducive to the convergence of regional innovation development, while the R&D capital flow may widen the regional gap in innovation development. This indicates that the correct guidance of the R&D element flow will help to achieve the coordinated development of regional innovation in China.

Insurance and Security

Lowering Social Insurance Fee Rates: How to Consider both Fund Sustainability and Regional Balance

SHI Chen-xi

2022, 0(3):  50-59. 

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The actual effect of reducing the social insurance fee rates is affected by various linked factors such as population, economy and other policies. Considering the impact of the central adjustment system on the capital flow of the pension fund, this paper constructs an actuarial model with the provinces as the research objects to simulate the operation of pension funds and the non-equilibrium of pension expenditures in the eight major economic regions in China, when the reformation of collection agencies, the reduction of rates, and the implementation of delayed retirement policies are simultaneously put into operation. The results show that, without other policy interventions, Heilongjiang, Hebei, Qinghai and other provinces will not have the financial feasibility of decreasing social insurance fee rates. There are greater differences in the pension sustainability among different regions, and this rate reduction policy in the southern coast areas has the longest duration. Without other policy interventions, if the collection rate increases by 10%, the reduction policy implemented nationwide will increase by 3.5 years. If the collection rate reaches 85%, and the delayed retirement policy is implemented simultaneously, the reduction policy can last for 12 to 25 years. Although delayed retirement can improve the sustainability of the fund, it should still choose the way of “small steps and slow walking”, otherwise, it will further widen the imbalance of fund expenditures among different regions.

Differential Demand Analysis and Policy Setting of Forest Insurance Guarantee Level in China: Based on the New Background of Income Disparity and Operation Scale

FU Li-sha, QIN Tao, ZHANG Xi

2022, 0(3):  60-72. 

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With the changes of forestry production and operation environment, the lower and single forest insurance guarantee level cannot meet the actual risk guarantee needs of forest operators in the new situation and under the new background. Therefore, firstly, based on the theory of reasonable hypothesis, this paper explores the differentiated risk guarantee needs of heterogeneous forest operators under the background of income differentiation and large-scale operation. Then, starting from the influencing factors of guarantee level and the way of setting, it explores the policy choice and setting of China’s forest insurance security level under the new background from the two dimensions of improving the security level and increasing the layers of security level. The results show that forest insurance plays the strongest role in ensuring the risks and income of forestry specialized households, followed by forestry households with combined occupations, and non-forest households are the weakest. The overall insurance income level of each forest operation subject increases with the improvement of the guarantee level, and the risk protection demand of forest operation subjects in high-risk areas is higher than that in lower-risk areas. Meanwhile, compared with small forest farmers, the new forestry operation subjects have greater expected benefits due to their participation in insurance against natural risks and financial risks, and have higher requirements for the risk guarantee level of forest insurance. In addition, based on the survey data of the replanting cost of eucalyptus forest, pine forest and Chinese fir forest, the basic guarantee level of forest insurance is set at 1500 yuan / mu, on this basis, the multi-layer guarantee level is improved and set; at the same time, the differentiated multi-layer guarantee level should be set by considering these three kinds of tree species and tree age, so as to realize the “standard raising” and “variety increasing” of forest insurance guarantee level.

Agricultural Researches

Research on Green Innovation Driving Mechanism for High-Quality Development of Grain Industry

GAO Wei-long

2022, 0(3):  73-86. 

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The steady improvement of green total factor productivity is an important way to realize the high-quality development of grain industry. This paper empirically tests the green innovation driving mechanism for high-quality development of grain industry by using GML index method, panel fixed effect model and conditional quantile model. The findings show that the green total factor productivity of grain decreased by 0.3% annually from 1999 to 2018; and the gap between regions is obvious: it is higher in the eastern region than that in the central and western regions. There are significant spatial heterogeneity and phased differences in the driving mechanism of grain green total factor productivity. However, in general, human capital has a positive driving effect on the progress of green technology and the improvement of green technology efficiency, while other factors have a negative driving effect on them. The negative driving factors mainly come from four aspects: deterioration of factor quality, distortion of resource allocation, failure of industrial policy and low-end locking of technology. Therefore, accelerating the upgrading of factor quality, optimizing the resource allocation structure, improving the industrial policy system and improving the ability of scientific and technological innovation will help to activate the innovation power for high-quality development of grain industry.

China’s Grain Subsidy Policy Problems and Countermeasures: An Analysis of Grain Subsidy Policy Based on the “Combination of Insurance and Subsidy”

BAO Guo-liang, YAO Wei

2022, 0(3):  87-95. 

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Since the reform and opening up, the main objectives of China’s grain subsidy policy are: first, to stabilize grain output, second, to stabilize grain prices, and third, to increase farmers’ income. However, through combing, it is found that the long-term adoption of price support as a tool in the grain subsidy policy cannot achieve the above three objectives at the same time, on the contrary, it will lead to such problems as systematic deviation of the policy. In this regard, by introducing the idea of “replacing subsidy with insurance and combining insurance with subsidy”, a regulation tool to protect farmers’ income is added in the link of grain production, so as to enrich the policy tools to achieve the goal of grain regulation. This paper also makes an analysis of the policy idea and mechanism of “combination of insurance and subsidy”, the results show that the application of the grain subsidy policy of “combination of insurance and subsidy” will play significant roles in relieving the financial burden, improving the subsidy efficiency and perfecting the agricultural insurance system.

Transformation Characteristics and Optimization Strategy of Multi-Functional Utilization of Farmland: From the Perspective of Urban Agglomeration

WANG Yu-feng

2022, 0(3):  96-105. 

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Arable land is an important basic resource for human existence and social and economic development, which possesses significant production capacity of goods and materials. This paper examines the impact of the multi-functional transformation and the coordinated development of cultivated land in the urban agglomeration at the middle reaches of the Yangtze River on the alleviation of the complex social contradictions in the process of rapid urbanization and on the promotion of the sustainable development of urban economy. By making use of the social economy and the Landsat monitoring data, it explores the relationship between land use transformation and multi-function level. The findings show that the transformation between cultivated land, forest land, grassland and construction land in the urban agglomeration at the middle reaches of the Yangtze River is the most significant. The land use transformation is significant in Wuhan Metropolitan Area and in the urban agglomeration around Changsha-Zhuzhou-Xiangtan, and in the urban agglomeration around Poyang Lake the land use diversity is better. The productive and economic function -- the social security function of farmland utility as a whole keeps its balance during the fluctuation, the productive and economic function -- the ecological landscape function as a whole keeps a state of balanced development, and the social security function -- the ecological landscape function as a whole keeps a coordinated development in the fluctuation.

Literature, History and Philosophy

The Operation Logic and Practical Limit of Party Building in Resource-Supported Emotional Governance: Taking C Park as an Example

REN Yong, WU Kang-wen

2022, 0(3):  106-115. 

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The grass-roots Party building holds an important position in China’s national governance. As an important part of the grass-roots Party building, the Party building in the industrial parks often has its own internal operation logic. Through the investigation of the case of C Park, it is discovered that there is a kind of Party building operation logic with resource-supported emotional governance. This kind of Party building operation logic in the industrial park is realized through different steps, such as emotional response, emotional restraints and emotional shaping in the grassroots Party building; it also has its own characteristics in such aspects as the basic premise, formal requirements, team support, etc.. But at the same time, from the perspective of the practical process, this type of Party building operation logic in the parks also has corresponding limitations, which are embodied in such aspects as the conflicts between resource supply and demand, the “formalized” tendency of Party building activities, and the limitation of the abilities of the staff. In view of the new situation and new problems in the Party building in the park, it is necessary to continuously optimize the basic premise, the formal requirements and the supporting conditions, so as to better promote the effective development of Party building in the urban grassroots.

Law & Economy

The Framework, Characterization and Regulation of Fintech Platforms

ZHAO Yao

2022, 0(3):  116-125. 

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Fintech platforms are always faced with a qualitative problem: sales or advertising. If one jumps out of the conceptual barriers of traditional attribute definitions and return to the core essence of financial law of “risk prevention and control”, it is not difficult to find that “risk introduction and risk control” constitute the two essential elements of the platforms’ characterization. From this point of view, fintech platforms present a marketization tendency to be more risk-introduced and more controllable because they dominate many businesses such as smart promotion, account association, layout design, commission sharing, and brand mixing. Therefore, in order to regulate the behavior of fintech platforms, in addition to raising the suitability obligation to the platform level at the subject level, rather than transferring it to the holding licensed institution, it is also necessary to pay attention to the challenges and innovations of fintech on the suitability obligation in terms of content. Of course, the four-layered nesting and single-holding organizational structure of financial technology platforms have always constituted the binding conditions for the above-mentioned platform characterization and behavior regulation, which should be seriously taken into consideration.

The Construction Mechanism and Realization Path of Risk Specifications for Personal Information Protection

ZHANG Lu

2022, 0(3):  126-136. 

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The personal information system in the digital age is a pre-emptive protection norm, which aims to prevent the abstract danger that may arise from the abuse of personal information. The risk specification path of personal information protection is in line with the reality of the development of the digital economy and is the best paradigm for personal information protection in the digital age. Risks triggered by personal information processing behaviors can be assessed from the two perspectives of “results” and “behaviors”. The judgment of “high risk” in personal rights violations includes two aspects: the possibility of risk occurrence and the severity of risks. The principle of accountability is the basic principle of the risk regulation path. China’s personal information protection system integrates the two risk regulation paths, i.e., “bottom-up” and “top-down”, but there still exist such problems as differentiated risks, categorized platforms, hierarchical obligations, etc. It is necessary to control the risk path as a whole from the macro level, strengthen the normative guidance of information processors from the meso level, and detail the risk norms under different scenarios on the micro level, so as to form a set of risk controllable, highly efficient and comprehensive protection mechanism.

Between Filing and Licensing: the Transformation Logic and Normative Approach of Off-Campus Online Training Regulation

HUANG Xian-da

2022, 0(3):  137-148. 

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The institutional evolution of the market access threshold of the off-campus online training industry reflects the Internet economic context and the microcosm of the reform of the administrative approval system. Education administrative organs try to replace the regulatory effect of ex-ante supervision with an interim and ex-post supervision system. While removing administrative approval to promote the development of the industry, they also give a play to the linkage mechanism between administrative filing and other innovative supervision methods, so as to form a regulatory mechanism with more precision and efficiency by combining the private regulatory advantages of multiple market players. However, due to the poor connection of supporting measures, the preset supervision mechanism has not played its due role as a substitute. In practice, the administrative licensing-style filing plays a major regulatory role. The tension between the institutional design and the regulatory reality stems from the localization difficulties faced in the process of transplanting and reconstructing the supervision system during and after the event in the Chinese context. The limited resources of education supervision and the path dependence of supervision methods, as well as the inherent insufficiency and weak stamina of private regulation in the online training market, all restrict the actual effectiveness of supervision during and after the event, resulting in a deviation between the purpose of supervision and the effect of reform. Therefore, the educational administrative organs try to reshape the in-process and ex-post supervision with ex-ante supervision, balance the tension between the logic of the market economy and other value goals in the process of regulation, and urge off-campus online training to return to the original intention of the “new education supply mode”.