Journal of Jiangxi University of Finance and Economics

The Theoretical Source, Ideological Connotation and Value of the Times of Xi Jinping's Important Expositions on Urban Construction

LIU Lyu-hong, LI Shao-jun

2022, 0(5): 3-13.

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Cities are the centers of economic, political, cultural and social activities in China, which are playing a decisive role in the overall cause of the Party and the state. Since the 18th National Congress of CPC, Xi Jinping has delivered a series of important expositions around the topics of “what kind of cities to construct”and“how to construct cities”, which have formed a set of systemically integrate and logically precise theoretical system. Its theory comes from Marx and Engels' urban thought, the urban construction theory of the Communist Party of China, the wisdom of Chinese traditional urban construction and the frontier concept of foreign urban construction. Its ideological connotation includes eight aspects of the cities in the new era, such as the nature and function, construction objectives, fundamental positions, construction principles, governance logic, internal requirements, international vision, and leadership. The appearance of these important expositions have developed Marxist urban theory and the thought of urban construction with Chinese characteristics, providing a fundamental route for China's urban construction to follow in the new era, and providing Chinese wisdom for the urban construction of all countries in the world today.

The Logical Expression of Socialist Development Economics with Chinese Characteristics

LIU Mei-ping

2022, 0(5): 14-24.

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General secretary XIJinping points out thatdevelopment is the master key to solving all problems. China has developed to be the world's second largest economy, the secret of its success lies in having the guidance of the theory of socialist development economics with Chinese characteristics. This theory takes unconventional economic development as the practical logic and western development economics and Soviet political economics textbooks as the critical logic to break through the constraints of the traditional simple economic growth theory of production factors. On the basis of clarifying economic development goals in the vertical and horizontal coordinates of the space-time dimension, it takes the overall economic development as the main line, the development idea, strategy, motive force, main body, and mode as the five elements of overall economic development, the basic social system, the core of national political leadership and a good international environment as the supporting pillars of economic development, so as to construct the theoretical logic of socialist development economics with Chinese characteristics, therefore,an overall transmutation has been realized from the economic growth theory of production factors to the elements theory of overall economic development.

Accumulation of“Quantity”or Leap of“Quality”: Does Economic Policy Uncertainty Help Promote Corporate Green Innovation?

LIU Xing-hua, HONG Pan

2022, 0(5): 25-41.

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Green innovation is the driving force of corporate sustainable development and the inherent requirement for promoting the stable and steady economic growth. Based on the financial data of A-share listed companies from 2010 to 2019, this paper empirically examines the impact of economic policy uncertainty on corporate green innovation from the three dimensions: total volume, quantity and quality. The findings show that economic policy uncertainty can positively stimulateenterprises to carry out green innovation and R&D. Faced with the uncertainty due to policy adjustments, enterprises pay more attention to the“quantity”of green patents than to the“quality”of green patents. In terms of the heterogeneity of property rights, economic policy uncertainty can significantly enhance the green innovation of state-owned enterprises.Corporate social responsibility has an obvious“reputation effect”, which can play a significant positive moderating role, and this moderating effect is more significant in non-state-owned enterprises. Enhancing the environmental information disclosure of the polluting enterprises will significantly inhibit the green innovation ability of enterprises under uncertain economic policies. The results of the mediating effect show that the uncertainty of economic policy can significantly enhance the risk preference of enterprise management and thus promote corporate green innovation.

Does Cross Regional BehavioralInteraction Exist in Private Investment?

YANG Qing, YUAN Chun-hui

2022, 0(5): 42-59.

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Private investment decision-making is subjective and decentralized, which may be affected by investment in related areas. Based on the inter-provincial panel data from 2004 to 2019, this paper conducts an empirical study of the cross regional interactive behaviors of private investments in China. The results show that: (1) after controlling the influences of economy, government and market factors, China's private investment exhibits significant positive spatial correlation, in which there exist complementary behavioral interactions; (2) the spillover effect, the competition and cooperation effect and the information effect are the important causes for the cross regional behavioral interaction of private investments; (3) the competition and cooperation effect is dominant among the three types of mechanisms, in which the capital flow between the regions with similar economic structure and the energy-based cooperation between the eastern region and the western region are the chief forms of the competition and cooperation effect; the information effect plays an important role in the investment interactions of the small and medium-sized enterprises, there exists significant“Peer Effect”, while the impact of spillover effect is weaker. In view of this, the local governments should pay attention to the policy amplification effect of private investment interaction, smooth the channels of factor flows and guide the effective aggregation of factors.

Can the Comprehensive Reform of Fee Reduction Alleviate the Pressure of Pension Fund Revenue and Expenditure: From the Perspective of Room for Feasible Fee Reduction

JIN Gang, SONG Jing-xiang

2022, 0(5): 60-76.

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Based on the implementation of the Comprehensive Plan for Reducing Social Insurance Rates in 2019, this article establishes an actuarial model to predict the population changes from 2021 to 2050 in accordance with the data of the seventh population census and the latest family planning policy of the state. From the perspective of room for feasible fee reduction, it explores the impact of the comprehensive fee reduction reform on the fund balance of the employee's basic endowment insurancepayments under different assumptive conditions, such as the tracebackassumptions, the optimistic assumptions, the assumptions of fertility level improvement, the risk assumptions, and the expansion assumptions of comprehensive fee reduction reforms respectively. The findings show that the comprehensive reform of fee reduction can effectively alleviate the pressure of fund revenue and expenditure, but the higher the replacement rate and the longer the target time point, the weaker its effect will be.Reducing the replacement rate is the core of the fund balance of the employee' basic endowment insurance system and the formation of the room for feasible fee reductions. The inclusion of delayed retirement, partial transfers of state-owned capital and institutionalized financial subsidies into the comprehensive reform of fee reductions can effectively enrich the basic pension insurance fund, ensure the long-term balance of the pension insurance fund, and provide room for further fee reduction reforms. Then, further deepening the comprehensive reform of employee pension insurance premium reduction and determining a delayed retirement plan as soon as possible with the expansion of the premium base and fund income source can achieve the dual goals of balancing fund revenue and expenditure and alleviating corporate burdens.

Family Intergenerational Support, Willingness to Contribute and the Design of Multi Pillar Pension System

LONG Chao-yang, YANG Yi-nan

2022, 0(5): 77-88.

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Through an intergenerational overlapping model of endogenous economic growth, this paper examines the mechanism of intergenerational support mode within families in the benefit defined Pay As You Go pension system, so as to provide theoretical reference for the pillardesign of China's urban pension system. The results show that due to the intergenerational support mechanism of“filial piety to parents”and“raising children for the aged”existing in the families, the contribution rate out of the willingness of the working generation in the early stage of system construction is higher than the optimal contribution rate to promote output growth. However, the optimal contribution rate of the second generations is at a lower level. At the present contribution rate out of willingness of the insured members, further reducing the pension insurance contribution rate and establishing pension pillar with financed fund from outside of the premium-paying pension insurance system to solve the pension payment gap of the present retired generation can generate the Pareto improvement of pension scheme design, which will not only improve the efficiency of intergenerational redistribution, but also promote the growth of output. Therefore, it is suggested that financial funds at all levels should be used to establish a“zero pillar”of basic pension as the first layer of pension payment, on this basis, the construction of China's urban multi-level and multi pillar pension system can be promoted.

A Political Economic Research on Environmental Tax Regulating Agricultural Non-Point Source Pollution

ZHOU Zhi-bo

2022, 0(5): 89-102.

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The practice of implementing the“green tax system”reform in developed countries since the 1990s has proved that the environmental tax system has achieved great success in regulating pollution, especially industrial point source pollution. However, in regulating agricultural non-point source pollution, it is still faced with a number of political economic dilemma: there is still a gap in social cognition, the environment protection awareness of the government and the public is not insufficient; it is difficult to reach institutional consensus due to the governments of all the countries being confined to the party politics and department interests; and the demands on the institutional design of environmental tax regulating agricultural non-point source pollution are higher, and there are greater difficulties at the practical level of collection and management. However, a large number of literatures show that the regulation of agricultural non-point source pollution by environmental tax is feasible in theory;in the long term, the environment tax system should be promoted to the field of agricultural non-point source pollution. The key of the institutional practice lies in the political economic problems in solving the environmental tax reform and the improvement of the political feasibility of the environmental tax system. In the future, China should deepen the environmental tax reform in the field of agricultural non-point source pollution, adhere to the principle of fiscal neutrality, establish a special fund system for special use, adopt the trial operation mode of environmental tax, and implement the“two-way incentive”policy.

The Impacts of Rural Industrial Revitalization on Rural Residents' Consumption Upgrading

XU Yu-ming, ZHOU Hao

2022, 0(5): 103-115.

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Based on the panel data of 30 provincial-level administrative regions except Tibet from 2005 to 2019, this paper constructs an evaluation index system for China'srural industrial revitalization and establishes a static fixed effect model and a dynamic GMM model to explores the impact of rural industrial revitalization on rural residents' consumption upgrading from the two aspects: the level of rural residents' consumption and the upgrading of consumption structure. The findings show that: (1) except Beijing and Shanghai, the index of the rural industrial revitalization of all the provinces shows an overallsteady upward trend. Although it still presents aeast-centre-west stepping down trend in space, the average annual growth rate of the central and western regions is greater than that of the eastern region; (2) the revitalization of rural industries has a significant positive effect on the overall consumption level and the upgrading of consumption structure of rural residents; (3) the revitalization of rural industries has a positive effect on the eight major consumption expenditures of rural residents, among which the effect coefficients on clothing, household equipment, culture, education, entertainment and medical care expenditures are more significant. Therefore, to promote the consumption upgrading of rural residents by the revitalization of rural industry, and at the same time,to guide the development of rural industries by consumption upgrading can jointly provide strong support for the construction of China's new“dual circulation”development pattern, the implementation of the rural revitalization strategy and the achievement of the goal of common prosperity.

The Evolutionary Path and Successful Experience of Chinese Communist Party's Red Movies

SHEN Lu, LIU Xin-ting

2022, 0(5): 116-127.

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In the early days of film entering China, the Communist Party of China successfully led the“Left-wing film movement”from the Marxist view of literature and art, thus forming the Party's red film culture system, which became the important guiding principle and an important part of the national film industry. The subsequent creation waves of“people's film”and“main theme film”have written important chaptersin the history of contemporary Chinese film. In the new era of the development of the socialist cause, the red film tradition and its inner development path have further coexisted into a“new mainstream film”, representing the national film industry level and the image of cultural soft power, pushing the red film cause led by the Party to a new historical and cultural height. The reason why thered film industry of Chinese Communist Party can make continuous progress is that it has always adhered to the fundamental direction of“serving the people”, practiced Marxist literary view with the times, and enjoyed adeep perception of Chinese cultural experiences and a sharp understanding of the world cultural trend.

The Allocation Mode of China's Real Estate Tax Legislative Powerand Legislative Countermeasures

TANG Jian-fei, WANG Qiao

2022, 0(5): 128-137.

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In the allocation of real estate tax legislative power, there are mainly centralized mode, decentralized mode and compound mode in western developed countries. The allocation model of western developed countries lacks suitability for the complex context of China, and it cannot meet the objective needs of China's real estate tax legislation. China's current allocation model has many limitations in such aspects as the concept of decentralization, the content of decentralization and the way of decentralization. The findings of this study show that when carrying out unified legislation for China's real estate tax, the allocation of the legislative power is urgently needed to be transformed from the traditional decentralized model to a“compound equilibrium”allocation model. The“compound equilibrium”allocation mode does not simply emphasize tax decentralization or power shifting to lower level, but pursues the complex and balanced way of tax power allocation. In order to promote the construction of the “compound equilibrium”allocation mode of real estate tax legislative power, China should take corresponding legislative measures in the future in terms of legislative concept, legal system, legal effect level and procedural mechanism.

Antitrust Law Regulation of Platform Power

LAN Jiang-hua

2022, 0(5): 138-148.

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Platform operators have the power to formulate rules, control access, and allocate resources in the platform markets. Driven by the self-interest of platform companies, this power is easy to be abused, thereby damaging the interests of other entities. Platform power is essentially a re-expression of market power, and anti-monopoly law regulations with the “gene” of limiting power should be applied on it, without resorting to other public law theories or establishing a new legal system. Anti-monopoly regulations have often been ignored and underestimated as a tool to limit platform power, mainly due to the rigidity and lagging behind of traditional regulatory frameworks, which ignores the diversification of platform market power sources and abuses the platform power resulting in the damage to the particularity of diversification and dynamism. Therefore, it is necessary to innovate the identification method of market dominance, include the elements of platform power, broaden the analytical dimension of competition damage, and pay attention to the impact of platform power abuse on the competition process and market structure. In order to avoid inhibiting the incentive of autonomy and damage the value of the platform system itself, it is also necessary to regard the reasonable autonomy as one of the legitimate reasons and clarify its establishment conditions.

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