Table of Content

25 January 2023, Volume 0 Issue 1

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Studying and Implementing the Spirit of the 20th CPC National Congress

Theoretical Evolution and Basic Characteristics of People's Democracy in the Whole Process

XIAO Cun-liang, YUAN Feng

2023, 0(1):  3-9. 

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From the perspective of Marxism, the whole process of people's democracy has experienced its own theoretical evolution. Marx and Engels pointed out that bourgeois democracy belongs to limited democracy, while the new democracy replacing the old one should run through the whole process of political, economic and social life. Lenin created Soviet democracy in the process of leading the Russian revolution, and organically combined the leadership of the Party with the construction of Soviet democracy. The Communist Party of China has inherited the Marxist democratic theory, put democracy through political parties, politics, economy and society, and created people's democracy in the whole process. The whole process of people's democracy is a kind of compound democracy, which cannot be realized without the leadership of the Party. It is necessary to organically combine the leadership of the Party and people's democracy.

Studying and Implementing the Spirit of the 21th CPC National Congress

The Evolution Path, Theoretical Characteristics and Era Value of the Concept of a Community with a Shared Future for Mankind

LIU Fang-zhou, LIU Che-yuan

2023, 0(1):  12-12. 

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A community with a shared future for mankind is an important concept put forward by General Secretary Xi Jinping concerning the future and destiny of a country and the problem of global governance. The evolution of the concept of a community with a shared future for mankind has experienced three leaps, from China's dream to a community with a shared future, then to a global discussions, and finally to becoming an important criterion guiding international relations. As far as its theoretical characteristics are concerned, the concept of a community with a shared future for mankind is a scientific inheritance of Marx's“real community”, a scientific application of Chinese traditional culture in the governance of a country, a summary of the experience of the CPC of its centennial struggle, and a practical program for China to deal with global governance issues. The era value of the concept of a community with a shared future for mankind is reflected in the fact that the concept of a community with a shared future for mankind is an important practice for China to realize the dream of rejuvenating a strong country, provides new ideas for building a new type of win-win cooperation relations between major countries and dealing with diplomatic issues, and provides a Chinese solution that transcends the logic of capital for global governance.

Economy & Management

Research on the Impact of Network Characteristics of Disruptive Innovation R&D Alliance on Enterprise Innovative Performance: the Regulatory Role of Institutional Environment

CAO Yang-chun, OU Chun-yao, DAI Hai-wen, ZHANG Guang-yu

2023, 0(1):  24-35. 

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Taking autonomous driving technology as an example and on the basis of the resource-based theory and the institution-based theory, this paper constructs an enterprise disruptive innovation R&D alliance network and discusses the relationship between its network characteristics, institutional environment and enterprise innovation performance. The results show that in the field of disruptive innovation, the network density of enterprises in R&D alliance will have a negative impact on innovation performance, while the relationship strength has a positive effect on innovation performance. Institutional environment plays different regulatory roles in the network characteristics of disruptive innovation R&D alliance and the enterprise innovation performance. Although regional innovation investment alleviates the negative impact of network density on innovation performance, it also reduces the positive effect of relationship strength on innovation performance. Intellectual property protection can not only alleviate the negative impact of network density on innovation performance, but also enhance the positive effect of the relationship strength on innovation performance.

The Executive Changes of the Central Enterprise Groups Would Optimize the Investment Behaviors of the Holding Companies

YANG Xing-quan, ZHAO Rui, YANG Zheng

2023, 0(1):  36-52. 

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Based on the personnel appointment and removal announcements disclosed by the State-owned Assets Supervision and Administration Commission of the State Council, this paper arranges manually the database of senior management appointments and removals of the central enterprise groups from 2009 to 2019 and takes the listed companies controlled by the central enterprise groups (referred to as“holding companies”) as the research objects to examine the impact of the executive changes of the central enterprise groups on the investment efficiency of the holding companies. The findings show that the executive changes in the central enterprise groups will significantly improve the investment efficiency of the holding companies by restraining excessive investment behaviors, and that this enhancing effect is more pronounced in the central enterprise groups where the types of executive job changes are promotions and demotions. The result of the mechanism test reveals that the executive changes in the central enterprise groups will optimize the investment decisions of the holding companies mainly by exerting a deterrent effect to weaken the agency incentives and an incentive effect to strengthen the internal supervision. Further study finds out that the deterrent and incentive effects of the executive changes in the central enterprise groups are more pronounced in the cases of higher industrial competition in the holding company, greater executive power and lower shareholding proportions of the central enterprise groups.

Analysis on the Phased Changes of the Cyclical Fluctuation of China's Inbound Tourism since the Reform and Opening-Up

LIN Wen-kai, XIA Hui-qin, HU Hai-sheng

2023, 0(1):  53-64. 

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Inbound tourism is a key component of China's modern tourism industry system. Correctly understanding the fluctuation law of inbound tourism cycle is of great significance to accurately grasp the development trend of inbound tourism in China, formulate reasonable industrial development policies, and promote the stable and rapid growth of the inbound tourism market. This paper employs HP filter and Markov regime switching model to measure the fluctuation and analyze the periodic changes of China's inbound tourism cycle since the reform and opening up. The results show that during the study period, China's inbound tourism displays the development trend of rising total volume but fluctuating growth rate, that there are three regional states of low-speed growth, medium speed growth and high speed growth in the speed increase dynamic changing process, and that stronger stability and sustainability can be seen in the“low-speed growth regime”and the “high-speed growth regime”. The growth rate of inbound tourist arrivals in China has periodic reciprocating changes between the“low-speed growth regime”, the“medium-speed growth regime”and the “high-speed growth regime”, and the“high-speed growth regime”and the“low-speed growth regime”will achieve“soft landing”and“stable expansion”through the“medium-speed growth regime”. From the perspective of development trend, China's inbound tourism has been in a low-speed contraction state since 2005, and it is more likely to continue to maintain a low-speed promotion in the future. Finally, the corresponding development policies are proposed to reverse the sluggish inbound tourism market and promote the recovery of China's inbound tourism industry.

Insurance and Security

Research on the Payment Risk Measurement of the Basic Endowment Insurance Fund for Urban Employees

SUN Rong

2023, 0(1):  65-75. 

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Due to the impacts of the aging of population, the decline of fertility and other factors, the urban pension funds in China's many cities are facing different degrees of payment risks. In order to accurately measure the payment risks of pension funds and effectively supervise the operation of funds, this paper makes an analysis of the dependent relationship between the income accounts and expenditure accounts with the help of Copula function under the assumption that the income and the expenditure of the funds are dependent, then it establishes a regression model. On this basis, it employs the financial risk measurement method and proposes two new methods to measure the pension account payment risks with a certain degree of confidence. Finally, it makes use of the relevant economic index data of China from 1997 to 2020 to measure the payment risk of the basic old-age insurance account of urban employees from 2022 to 2040 with different degrees of confidence, and it also puts forward the corresponding countermeasures.

The Influence of Risk Perception on Farmers' Decision to Purchase Rice Revenue Insurance: the Moderating Effect Based on Risk Management Behavior

HUANG Hui-chun, QIAN Cheng

2023, 0(1):  76-89. 

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The rice revenue insurance is an important type of insurance of agricultural insurance innovation in China. Based on the questionnaire survey of 461 farmers in 3 cities and 6 counties in Jiangsu Province, this paper conducts an empirical test on the impact of risk perception on farmers' decision to purchase rice revenue insurance, and examines the moderating effect of risk management behavior and the entity types of agricultural business. The findings show that: firstly, the level of risk perception has a significant positive impact on farmers' willingness to purchase and pay for rice revenue insurance; secondly, the natural risk management behavior of the farmers negatively regulates the impact of risk perception on farmers' willingness to purchase and pay for rice revenue insurance; thirdly, from the perspective of the types of business entities, the level of natural risk perception has a greater impact on the purchasing intention of rice revenue insurance of the family farms, the farmers' professional cooperatives and other different kinds of new-type agricultural business entities. Therefore, it is suggested to optimize the terms of rice revenue insurance contracts, improve the agricultural insurance service network, strengthen the construction of agricultural risk big data sharing platforms, and improve the multi-level agricultural risk management systems.

Agricultural Researches

With What Can Local Governments Stabilize Grain Production A Political Economical Analysis of Officials' Incentives

GAN Lin-zhen, ZHONG Yu, PU Ming-zhe

2023, 0(1):  90-101. 

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To ensure grain security, it is not only necessary to protect farmers' enthusiasm to grow grain, but also to stimulate local governments' enthusiasm to stabilize grain production. The significant achievements in grain production in China cannot be achieved without the implementation by local governments and key officials. Ensuring that the central and local governments share the same goals in grain governance through official incentives is an important aspect of policy implementation, but little research has focused on it. Based on the promotion tournament theory, this paper makes use of the panel data of 31 provinces from 2003 to 2019 to construct an official promotion model. Then it analyzes the paths to improve the motivation of local governments to stabilize grain production from the perspective of official incentives and examines whether grain production performance is one of the elements of official promotion. The findings show that grain production performance is conducive to official promotion in the grain-producing regions. In contrast, it is not significant for the promotion of officials in the grain production and marketing balance areas, the main marketing areas and the full samples. This conclusion is verified by the robustness test and the endogeneity test. It is confirmed that in the main grain-producing regions, a channel has been established for local officials to be promoted through stabilizing grain production, and the promotion tournament is an important mechanism to stabilize grain production. In the future, we should optimize the provincial governor responsibility system for grain security, improve the incentive accuracy and pertinence of officials in ensuring grain security, strengthen the use of local grain security assessment results, improve the incentive intensity of grain security officials, enhance the sense of responsibility for stabilizing grain production of the local Party and government officials, and implement the same responsibilities of the Party and government officials in grain security .

Do Agricultural Production Services Increase Grain Yield

LU Hua, HU Hao, CHEN Su

2023, 0(1):  102-113. 

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Based on the theories, this paper expounds the logic mechanism of the impact of agricultural production services on grain yield and quantitatively estimates the impact of agricultural production services at different links on the grain yield per unit area by using the micro-survey data and the econometric method. Then it empirically tests the influencing mechanism. The results reveal that, firstly, fertilization service and agricultural machinery service can significantly increase the grain yield per unit area, and that the fertilization service mainly with technological substitution has a greater effect on grain yield per unit area. Fertilization service and pesticide service have significant promotive effect on the grain yield per unit area of large-scale operation farmers. Secondly, the fertilization and pesticide services can significantly promote farmers to adopt pro-environment fertilization technology and pest control technology. Thirdly, agricultural machinery service, fertilization service and pesticide service have obvious substitution effect on agricultural labor input, and can significantly promote the farmers with large-scale business to transfer farmland into their operation, but no evidence is found to prove that the agricultural machinery service and the fertilization service have significant influence on the farmland transfer of small farmers. The above conclusions imply that, in the future, China should vigorously promote the development of agricultural production service organizations, strengthen the policy support for the fertilization and pesticide links with lower standardization degree and higher probability of moral hazard, reduce the cost of service operation, and give better play to its role in promoting grain yield and farmers' adoption of the pro-environment agricultural technologies.

Realistic Reflection and Improvement Strategies of China's Policy-Based Agricultural Guarantee from the Perspective of Rural Revitalization

LIU Da, WEN Tao

2023, 0(1):  114-125. 

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The policy-based agricultural guarantee is an important task of deepening the reform of the rural financial service system and improving the financial supporting system of the rural revitalization strategy in the new era. At present, China's policy-based agricultural guarantees have achieved remarkable results in improving the financial inclusion, supporting the development of agricultural industries, and helping rural residents increase their incomes. However, a series of problems are also revealed, such as weak substantial function of counter guarantee, imperfect check and supervision system, unreasonable risk sharing and compensation mechanism design, talent training and team building lagging behind, imperfect safeguarding measures, and so on. Therefore, for the next step, it is necessary to improve the institutional design of the policy-based agricultural guarantee from the following five areas: firstly, to speed up the improvement of the design of the relative legal system, energize the science and technology to promote the technological innovation for agricultural guarantee; secondly, to improve the internal management system, strengthen risk identification and risk prevention and control, and correct the phenomenon of doing business away from agriculture; thirdly, to improve the working mechanism of the cooperation among governments, banks and the guarantee companies; fourthly, to optimize the establishment of the guarantee system, strengthen the personnel training and team building, and improve the service quality of the agricultural guarantee institutions; fifthly, to formulate development planning scientifically, improve the supporting guarantee measurements, and optimize the organizing and coordinating mechanisms.

Law & Economy

The Protection of and Limitation on Data Rights in the Mode of Empowerment

TAO Qian

2023, 0(1):  126-136. 

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In the era of digital economy, the empowerment mode can stimulate the investment and innovation in the field of data. The exercise and protection of data right not only concerns the interests of the sources of raw data, but also the interests of the holders of raw data and the interests of the data processors. Therefore, the establishment of data property right system needs to skillfully weigh the relations between data protection and utilization, data concentration and circulation, data quantity and quality, private interests and public benefits. The appropriate approach to data legislation is to confirm the property nature of data and the protection scope by law, to clarify the coexistence and dependent relationship between data property right and personal information right. Data holders have the rights to control and benefit from the data aggregation based on their investments in data collection, storage, security, etc. In such issues as data crawling and mining, while protecting the relevant rights of data controllers from infringement, it is also necessary to set restrictions on the exercise of data right, in order to ensure the value generated by the mobility of data. When constructing the systems, it is necessary to treat differently the public data and the non-public data, the open data and the non-open data, the raw data and the derivative data, to design refined and implied licensing, to reasonably use rights and prevent the rights from abusing rules to delineate the boundary of rights, to facilitate data transactions, and to ensure fair competition.

The Response of Anti-Monopoly Law to Personal Information Protection in “Data Pool”

WANG Wen-jun

2023, 0(1):  137-148. 

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The“Data pool”is an important form of sharing personal information. There is no consensus on whether the personal information in the“data pool”needs the protection of anti-monopoly law. Although it is difficult to analyze the anti-monopoly law property of the personal information in the“data pool”with the traditional price theory, in many cases, personal information itself is the price of services. Through the logical chain of“data-quality-price”, the personal information in the“data pool”can be included in the auxiliary protection scope of the anti-monopoly law. In the digital age, the personal information in the“data pool”can constitute independent consumer welfare, where the protection of personal information is as important as price, and the subsidiary protection is as important as the independent protection. The automatic sharing of data in the“data pool”constitutes exploitative abuse, and the formation of“data pools”by the merger of digital enterprises with a dominant market position is an anti-competitive behavior of exclusive abuse. The“data pool”aggregation of personal information and the personal information collusion should be regarded as a new type of monopoly behavior, but it still does not exceed the three kinds of monopoly behaviors stipulated in The Anti-Monopoly Law, which is a new type of operator concentration and monopoly agreement.