Journal of Jiangxi University of Finance and Economics

Chinese Path to Modernization: A Three-Dimensional Interpretation Based on“Spanning-Stability-Surpassing”

FU Wen-jun

2023, 0(2): 3-12.

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The Chinese path to modernization is a scientific path to comprehensively promote the great rejuvenation of the Chinese nation. The three-dimensional interpretation framework of“spanning-stability-surpassing”can effectively explainthe internal logic of the Chinese path to modernization.The Chinese path to modernizationis neither“the old closed and rigid way”nor“the evil way to change the flag”; but a scientific socialist way to leaping over Caudine Forks. While carrying the mission of the times of saving China and developing China, the Chinese path to modernizationwill guarantee a continuous stabilityand a healthy developmentof the social conditions after the“spanning”. The Chinese path to modernization is also a scientific way to achieving“double transcendence”in the interaction of theory and practice and leading to the new form of human civilization. The Chinese path to modernizationis just the effective connection between the basic principles of scientific socialism and China's reality creatively achieved by Chinese people. It is the finest example of the sinicization and modernization of Marxism. It is the way of the negation of“spanning-stability-surpassing”. The Chinese path to modernization is a scientific way to leading Chinese people to build a beautiful homeland and to realize the national rejuvenation whole-heartedly and leading Chinese nation to building China into a“Model of the Times”of socialist modern power.

Promoting the Chinese-Type Modernization Construction by Improving the Quality of Party Building: From the Perspective of Amending the Party Constitution at the 20th CPC National Congress

LIN Ke, WANG Jian-hua

2023, 0(2): 13-23.

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The Party Constitution is the guide to action for all Party members. The Party Constitution, revised and approved at the 20th National Congress of the Communist Party of China, puts forward new requirements for each Party member from the three levels of the spiritual strength, governing ability and organizational system of the Party. The whole Party should draw strength from carrying forward the great spirit of Party building and transform it into individual consciousness leading to Chinese-type modernization.During the process of constantly learning and innovating theories, it should strengthen the ideals and beliefs, promote the practical work, and strengthen the governing ability of the Party. In adhering to the Party's organizational line in the new era, it should promote the Party's organizational construction by comprehensively and strictly governing the Party, so as to improve the Party's organizational system. It can be seen that the revision of the Party Constitution adheres to the concept of problem orientation and system, reflects the new achievements and new experiences of the Party's construction, and reflects the contributions made by the CPC members to the development of Marxist party building theory with the historical responsibility and creative spirit. The methodology it contains has formed a new idea to improve the quality of Party building, which can ensure that the CPC is always a strong core of leadership to promote the Chinese-type modernization construction.

Research on the Radiation Impact of Public Health Fiscal Expenditure in Provincial Capitals

SONG Li-ying, CUI Fan

2023, 0(2): 24-37.

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The radiation impact of public health fiscal expenditure in provincial capitals is an important perspective to explore the construction path and development mode of provincial public health system. Based on the“siphonic effect”and“diffusing effect”, this paper uses the panel data of 233 prefecture-level cities to conduct theoretical construction and empirical exploration on the radiation impact of public health financial expenditure in provincial capitals. The results show that, in terms of the radiating capacity, although the radiating capacity of public health financial expenditure in provincial capitals is increasing, only the relative changes of the radiating capacity in central and northeast provincial capitals are consistent with the absolute changes, and the radiation intensity is increased and the scope is expanded. In terms of the radiation effect, the“diffusing effect”is greater than the “siphonic effect”, and the radiation impact of public health financial expenditure in provincial capitals is generally positive, that is, through the“double engine”drive of increasing the share deviation and strengthening structural advantages, it can significantly stimulate the incremental expansion of the public health financial expenditure in non-provincial capital cities. Further analysis shows that the radiation impact and action path of public health financial expenditure in provincial capitals have significant regionalheterogeneity, Therefore, in order to promote the network construction and coordinated development of urban clusters of modern public health system, we should give full play to the demonstration effect of provincial capitals and provide supporting measures according to local conditions.

A Study on the Impact of the Party Committee Participation in Corporate Governance on SOEs' Performance of Environmental Responsibility

YU Han, SONG Zeng-ji

2023, 0(2): 38-52.

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In recent years, the effect ofcorporate governanceof state-owned enterprises participated by Party committees has become the focus of academic circles. In the context of thegreen transformation implemented by enterprises, which is promoted vigorously by the state, this paper constructsthe quantitative evaluation indexfor the Party committee participation in corporate governance of SOEs with a total of 32 secondary indicators from four dimensions in accordance with The Regulations on the Work of CPC Grassroots Organizations in State-Owned Enterprises (Trial), and with reference to the policies and regulations related to the Party committee participation in corporate governance of SOEs. Taking the heavily polluting state controlled companies listed in A-share market from 2013 to 2020 as samples, this paper studies the impact of the Party committee participation in corporate governance on the fulfillment of SOEs' environmental responsibilities. The empirical results show that the Party committee participation in corporate governance can effectively promote the environmental protection investment of SOEs. At the same time, with the implementation of the“mixed ownership reform”in SOEs, the Party committee participation in corporate governance can effectively reduce the adverse impacts on the environmental protection investment of SOEs in the process of the“mixed ownership reform”.

The Resilience of High-Tech Industry Empowered by Digital Economy: Internal Mechanism and Empirical Test

ZHANG Liang-cheng, GUO Rui-shuo, SHU Chang-jiang

2023, 0(2): 53-66.

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As a cutting-edge technology industry, the high-tech industryis confronted with such a question as how can it achieve its high-quality development and improve its resilience in the face of external shocks, which has become a hotspotfor present researches. Based on provincial panel data from 2011 to 2019, this paper makes a calculation to obtain the numerical values of digital economy, business environment and high-tech industry resilience with the entropy method. Then based onthe theoretical analysis, it empirically tests the impact effect of digital economy on the resilience of high-tech industry, the impact mechanism and the adjustment effect of business environment with the econometric model. The results show that, the digital economy has a positive impact on the resilience of high-tech industries on the whole, and a good business environment can enhance the promotion of the digital economy on the resilience of high-tech industries. The heterogeneity test shows that the promotion effect of digital economy on industrial resilience varies from region to region, and the spillover effect on the eastern region is greater. The result of further impact mechanism test shows that the digital economy will promote the resilience of high-tech industries by promoting industrial upgrading and improving industrial innovation capacity.

Research on the Impact of Reducing Pension Payment Rate and Delaying Retirement on Pension Funds Adequacy

LUO Qing-ju

2023, 0(2): 67-78.

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The General Office of the State Council issued The Comprehensive Plan for Reducing Social Premium Rates in 2019. This Plan explicitly cuts the unit contribution rate of basic pension insurance for urban workers to 16%, which will pose a greater challenge to the adequacy of pension insurance funds. With the help of the OLG model, this paperstudies the impact of the two policies of reducing the pension insurance contribution rate and delaying retirement on the adequacy of the pension insurance funds. The findings show that, firstly, implementing the pension insurance contribution reduction policy alone will directly lead to a significant decline of fund income in the current pooling account at the steady state period, and indirectly cause an increase in the pooling account fund expenditure and individual account fund income and expenditure through affecting the per capita capital stock and wage level at the steady state, which will exert a certain impact on the adequacy of funds. Secondly, the implementation of the delayed retirement policy alone will directly and indirectly result in a decline and then an increase in the income of the pooling account funds and the individual account funds, a significant decline in the expenditure of the pooling account funds, and a slight decline in the expenditure of the individual account funds. Thirdly, the implementation of the delayed retirement policy in the context of fee reduction will significantly reduce the challenges to the adequacy of funds brought by the fee reduction policy, and both the pooling fund gap and the total fund gap are likely to shrink to the pre-fee reduction level with the gradual delay in the retirement age.

The Selection Effects in China's Supplementary Medical Insurance Markets

YANG Pan-xu

2023, 0(2): 79-92.

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Based on the date of China Family Panel Studies 2018, this paper chooses the Bivariate Probit model and the instrumental variable Probit model to test the correlation between health risks and insurance and to study the selection effects in the supplementary medical insurance markets. The results show that the “health risk-insurance”correlation is significantly negative in the supplementary medical markets. The groups self-assessed as relatively healthy people are more willing to participate in the supplementary medical insurance. This paper confirms the robustness of the empirical results by making a robustness analysis with the more objective proxy variables and the adjusted hospitalization costs as the proxy variables of health risks. The results of the heterogeneity analysis show thatthe health risks and risk aversion jointly make clear that the selection effect is advantageous selection in China's supplementary medical insurance markets. In the relatively immature supplementary medical insurance markets, personal information is multi-dimensional; the relative risk aversion can exert a significantly impact on the decision to participate in the supplementary medical insurance.

Win-Win Comprehensive Income: The Driving Mechanism and Policy Arrangement for the Choice of Industrial and Commercial Capital Entering Rural Areas

SHENG Fang-fu, XUE Hua

2023, 0(2): 93-102.

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From the research perspective of accelerating the common prosperity of farmers and rural areasin China, this paper uses the chain decision analysis method to discuss the tandem type decision mechanism for such choices as whether industrial and commercial capital should enter rural areas, what type and field of rural areas to enter, and how to enter. This study holds that the choice of whether industrial and commercial capital should enter the rural areas is to seek the optimal solution under the existing constraints. The main line of the series optimal solution is the win-win comprehensive income covering economic, political, social and other dimensions as well as the multiple subjects including industrial and commercial capital, villages and villagers. The above conclusions suggest that it is better to encourage and guide industrial and commercial capital to participate in the rural revitalization strategy during the process of common prosperity. The policy system design and policy arrangement should focus on the mechanism of investment choice of industrial and commercial capital based on win-win comprehensive income, and the differentiated policies should be implemented with targets, so as to achieve reasonable returns of industrial and commercial capital while promoting the common development of villages and villagers, thereby to help achieve Chinese-style common prosperity.

Proactive Personality, Innovative Behavior and Farmers'Entrepreneurial Performance

ZHU Zhen-bing, XU Sheng, ZHANG Fan

2023, 0(2): 103-115.

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It is crucial to stimulate farmers' endogenous motivation and improve their entrepreneurial performance in order to promote rural economic and social development. From the perspective of individual psychological characteristics, this paper constructs the relationship model between farmers' proactive personality and entrepreneurial performance,collects the data from 541 entrepreneurial farmers in 6 provinces, and conducts a test on the model with the ordinary least squares and the asymmetric confidence interval method based on bootstrapping. The results show that the proactive personality has a significant positive impact on farmers' entrepreneurial performance, and that the proactive personality has a significant positive impact on the exploitative innovation behaviors and the exploratory innovation behaviors of the entrepreneurial farmers. It is found through further intervening mechanism analysis that the proactive personality can affect the entrepreneurial performance by taking advantage of the partial mediation of theexploitative innovation behaviors and the exploratory innovation behaviors. The mediating effect of the exploitative innovation between the proactive personality and the entrepreneurial performance is stronger than that of the exploratory innovation. In theory, the results of this study expand the understanding of the factors affecting farmers' entrepreneurial performance and enrich the researches of the grassroots innovation. In practice, it is suggested that the cultivation of proactive personality should be included in farmer training projects, and farmers' innovation should be emphasized and supported, so as to promote the high-quality development of farmers' entrepreneurship.

Multivariate Construction of Literary Geographical Space in Song Dynasty: Taking Urban CI in Song Dynastyas the Center

ZHU Jie, ZHU Wen-rui

2023, 0(2): 116-125.

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Due to the rise of urban development in the Song Dynasty, the number of urban CI increased sharply. The urban CI covered a lot of aspectsof urban life and had a wide range of contents, which were unprecedented in the previous generation. They enjoyed profound representativeness in the construction of literary geographical space.From the perspective of the outer space, urban CI in Song Dynasty is based on the real scenes of the real cities, takes the urban material space as the describing objects, truly restores the literary activities and scenes of the Song Dynasty, and constructs a three-dimensional and regional literary geographical space.From the perspective of the inner space, through the spatial experience and memory of the cities, the poetsof Song Dynasty take the urban geographical space as the carrier and symbol of the poets'emotions, and construct a literary geographical space containing implicitly the universalfeelings of the man of letters in the Song Dynasty.From the perspective of space-time structure, the urban Ci of the Song Dynasty adopts the combination of space-time consistency, space-time dislocation and multiple space-time convolution and interleaving to cross integrate the urban geographical space from different angles and levels, and finally achieve the multi-element construction of literary geographical space from outside to inside and from point to surface.

The E-CNY and Renminbi Internationalization under the International Monetary Power Theory: An Exploration Based on the Feasibility and Reality

SHEN Wei, ZHAO Er-ya

2023, 0(2): 126-137.

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The e-CNY is a legal tender in its digital form issued by the People's Bank of China. Both the decentralized and centralized features of the e-CNY as well as its sound monetary functions indicate its possibility to play a role in further promoting internationalization of RMB. Under the theory of international monetary power, the internationalization of RMB is not only a manifestation of international monetary power but also a means to obtain and exercise such a power. In terms of the theoretical feasibility, the digital currencies of the central banks may help the countries with sovereign currency to reduce their continuing and transitional adjustment costs, and help them to shape their participant identities as well. In terms of the realistic possibility, the US Dollar hegemony is still the largest obstacle faced by Renminbi internationalization in the context of the issuance of digital RMB. However, the financial sanctions constantly initiated by the Western countries also provide opportunities for the e-CNY to reconstruct the participant identities. Besides, the e-CNY can also provide a basis for the creation of a synthetic hegemonic currency, thereby alleviating the spillover effect caused by the current fluctuations in the value of the US dollar and promoting the multi-polarization of the international monetary and financial system.

Construction of the Appraisal Procedurebefore Taxation Legislation

YI You-lu, WAN Wen-bo

2023, 0(2): 138-148.

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The appraisal procedure before taxation legislation refers to such an appraisal procedure that the particular evaluation subject performs on the necessity and feasibility of the tax items being legislated, the legitimacy and reasonableness of tax law drafts and thecost-effectiveness and expected impact of tax legislationbefore the tax law drafts are submitted for voting in accordance with certain steps, time series and methods. This evaluation process before taxation legislation has several functions, such as preventing vacant evaluation system, optimizingthe configuration of the resources beingevaluated, excluding willfulness and arbitrariness, and justifying the evaluation results. The construction of the process should follow the principles of participation, openness, fairness, proportionality. The basic evaluationprocess before taxation legislation includes the three stages of starting, executing andresponding, each should abide by the corresponding request of the process.

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