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As we enter the digital era, the digital economy provides an opportunity for China's manufacturing industry to achieve 'smart manufacturing' and provides important support for China to move from a 'big manufacturing country' to a 'strong manufacturing country'. This paper constructs an indicator system for the level of digital economy development in Chinese cities by determining the connotation of China's digital economy based on the characteristics of its digital economy development. Based on the application of entropy value method to measure the level of digital economy development of cities, we empirically investigate the impact of the level of digital economy development of cities on the innovation efficiency of manufacturing industry using mixed panel data of listed Chinese A-share manufacturing companies and cities from 2011 to 2019. The empirical study finds that the level of urban digital economy development is conducive to improving the overall innovation efficiency, innovation quality efficiency and innovation quantity efficiency of enterprises, and overall, the digital economy has a significant contribution to the innovation efficiency of manufacturing industry. There is regional, firm size and industry heterogeneity in the impact of urban digital economy development level on manufacturing innovation efficiency, and this heterogeneity is further manifested in the types of manufacturing innovation efficiency. For example, the urban digital economy enhances the innovation efficiency of small-scale firms mainly through the quantity of innovation rather than the quality of innovation. [ABSTRACT FROM AUTHOR]

Power and influence are important concepts in world politics. In this process, every country tries to maximize its interests and influence over other countries. The present world order, soft power, plays an important role in influencing others' policy-making processes in one's favor to establish a world order. This paper aims to give an overview of Chinese soft power and find out whether Chinese soft power is creating a debt trap or becoming a shared interest for both Bangladesh and China. Based on secondary sources, the paper has found that although Chinese soft power, especially its growing investment in Bangladesh, is a part of establishing its influence, it is a shared interest rather than a debt trap. Different infrastructure development projects are opportunities for Bangladesh, as that will open the door to economic development if Bangladesh can effectively utilize them, although China's investment can put Bangladesh's economy under pressure. However, economic and political instability, fragile institutions, growing corruption, leadership crisis, etc. are more harmful to its economy and can lead to an economic crisis. [ABSTRACT FROM AUTHOR]

This paper summarizes the new progress in building China's national carbon market since 2020, and analyzes the connotation of China's carbon peaking and carbon neutrality goals ("dual carbon" goals) and its significance to socio-economic development in China. Through case analysis, this paper expounds the role of China's recent carbon trading activities in promoting the transition toward green and low-carbon socio-economic development. On that basis, this paper conceives a top-level design for building the national carbon market that serves the "dual carbon" goals: building and improving the national carbon market that fundamentally serves as an emission reduction tool, developing the institutions and systems of the national carbon market with a focus on emission cap, creating a multilevel and diversified carbon trading scheme centered on the national carbon market, exploring a mechanism that takes carbon emission reduction as the core and promotes the synergistic effect of the carbon market with other environmental rights trading markets, and pursuing the healthy and orderly development of carbon finance that aims to serve carbon emission reduction. [ABSTRACT FROM AUTHOR]

China faces a critical economic structural transformation with increasing financial instability and uncertainty, necessitating a greater need for accurate measurement of systemic financial risk. In the paper, this work analyses the systemic financial risk in China between 2011 and 2020 based on financial development, fragility and risk indicators and the world economy to construct a comprehensive index of systemic financial risk (CISFR). The results show an upward trend in China's financial risk in the past 10 years and a mid-to-high level fluctuation in the past five years, mainly driven by risks in the banking system, securities market and real estate market. In 2021–2022, China's financial system is still in a high-risk stage, and high systemic risks are still an important economic issue. The study's comprehensive index method can be extended to emerging economies. It reflects the main driving factors of financial risk by assigning weights to basic indicators from a multidimensional perspective, thus providing a reference for policymakers to prevent and control financial risk. [ABSTRACT FROM AUTHOR]

The paper uses 2018 data to construct a numerical general equilibrium model containing 26 economies, and adds global value chain and added-value trade into the structure, and systematically simulates the economic effects of China's response to three scenarios of nine categories of CPTPP policy selection. In line with the simulation results, under the four scenarios in which China takes unilateral measures to deal with the impact of CPTPP, the policy effectiveness from high to low separately includes: the construction of China–Japan–Korea free-trade agreement, the entry into force of RCEP and the further opening-up. In the two scenarios in which China joins the CPTPP, the effect of joining the agreement with the first batch of expansion countries is better, while the effect of joining the CPTPP later is slightly worse. After the United States returned to CPTPP, China chose three scenarios in which the economic effects, from high to low, were to optimize the business environment, take no measures and join CPTPP with the United States. Among the three different options, the economic benefit of China's active choice to join CPTPP is the best. Second is the effect of China's unilateral measures on CPTPP. However, once the United States returns to CPTPP, it will bring adverse impact on China. The effective measure to deal with it is to optimize the business environment to reduce the cost of the trade. [ABSTRACT FROM AUTHOR]

With the rapid development of economic globalization, the stock markets in China and the US are increasingly linked. The fluctuation features and cross-correlations of the two countries' markets have attracted extensive attention from market investors and researchers. In this paper, the fractal analysis methods including multifractal asymmetric detrended cross-correlation analysis (MF-ADCCA) and coupled detrended cross-correlation analysis (CDCCA) are applied to explore the volatilities of CSI300 and SP500 sector stock indexes as well as the cross-correlations and coupling cross-correlations between the two corresponding sector stock indexes. The results show that the auto-correlations, cross-correlations and coupling cross-correlations have multifractal fluctuation characteristics, and that the cross-correlations are asymmetric. Additionally, the coupling cross-correlation strengths are distinct due to the different influence of long-range correlations and fat-tailed distribution. Further, the co-movement between China and the US sector stock markets is susceptible to external market factors such as major economic events and national policies. [ABSTRACT FROM AUTHOR]

With China's economic transformation into a high-quality development stage, the importance of credit system construction has become increasingly prominent. The problems existing in the current telecom credit system include: (1) insufficient coverage of credit features; (2) traditional credit assessment models are difficult to reflect user credit status objectively, comprehensively and timely; (3) user demand for credit management and credit services are ignored. Due to these deficiencies, a new multi-level credit system is necessary to meet the rapid development of market economy. Telecom operators have large amount of precious data, with the advantages of large-scale, high-precision and data-diversity, which can provide new ideas for the construction of credit system. This work focuses on the current problems and conducts research as follows: design a Telecom Credit Assessment Model based on Boosting and Stacking ensemble techniques, called TCAMBS, to improve the evaluation accuracy, and to select the best model according to the experimental results. On the one hand, this work can promote the innovation of telecom credit assessment models and provide new ideas for the construction of the credit system. On the other hand, this work will also help telecom operations to improve the quality of telecom credit services. [ABSTRACT FROM AUTHOR]

The interconnection of traffic infrastructure and the logistics industry's efficient operation is a basis for the reconstruction of industrial spatial structure and economic optimization of the urban cluster. In this paper, the Undesirable-SBM DEA model was used to calculate the logistics eco-efficiency (LEE) of the five coastal urban clusters for 2009–2017, and the panel fixed-effect Tobit model was used to analyze the LEE evolution mechanism. Findings show that the overall score for LEE in China's five coastal urban clusters is in a downward trend, and the gap in LEE between the cities is increasing. The temporal and spatial distribution of the LEE score has evolved from the pyramid structure of "the number of high-efficiency cities is the largest, followed by medium-efficiency in-between, and the least being low-efficiency cities" to the inverted triangle structure of "the number of low-efficiency cities is the largest, followed by medium-efficiency in-between, and the least being high-efficiency cities". The evolution of the spatial distribution of LEE in various urban clusters shows heterogeneous characteristics. The cities with middle- and high-investment volumes of logistics resources are mainly the core and sub-core cities, but most of them have low LEE scores. The employee excess rate is the main reason for the loss of LEE. Energy prices and government intervention significantly and negatively affect LEE, while environmental regulations positively and significantly affect the excess of capital stock and employees. The impact of influencing factors, such as economic development and environmental regulations, on LEE and input excesses is different among the five coastal urban clusters. [ABSTRACT FROM AUTHOR]

This research uses a time-varying difference-in-differences (DID) model to assess the impact of the water resource fee to tax (WRFT) policy on water pollution in China from 2004 to 2020. The study finds that the WRFT policy can reduce chemical oxygen demand (COD) emissions by 17.7% and ammonia nitrogen (NH3-N) emissions by 31.6% on average. These findings are supported by various robustness tests, such as the parallel trend test, the placebo test, and the changing standard errors. The study also finds that the impact of the WRFT policy is stronger in regions with higher economic development levels and lower water pollution levels, but does not show heterogeneity in water resource abundance. The mechanism analysis suggests that the WRFT policy achieves the effect of reducing water pollution by reducing sewage discharge, increasing intensity of water pollution prevention, and promoting green R&D innovation. The study addresses potential endogeneity issues such as reverse causality, sample self-selection, and omitting variable bias. Based on these findings, the study offers some policy recommendations to further enhance the WRFT policy effects and reduce water pollution in China. [ABSTRACT FROM AUTHOR]

China and Pakistan celebrated the 10th anniversary of the launch of the China–Pakistan Economic Corridor (CPEC) in 2023. Over the past decade, the CPEC has been developed amid controversies and challenges, and has achieved notable successes, especially in large-scale infrastructure construction, which has laid the foundation for Pakistan's economic development in the long term. However, the ever-changing domestic and international environment has not alleviated the challenges and risks facing the future development of the CPEC. Domestic instability in Pakistan, as well as intensifying strategic competition between the United States and China, could affect the future of the CPEC. [ABSTRACT FROM AUTHOR]

The shortage of water resources has seriously restricted the sustainable development of China's economy. Contracted water-saving management (WSMC) has emerged as an important measure to effectively alleviate this problem. However, the rationality and fairness of benefit allocation affect the stakeholders' enthusiasm for participating in the project. The lack of a water-saving benefit allocation scheme is one of the critical obstacles hindering the implementation and promotion of the project. This study identifies the core stakeholders in WSMC projects in Field-project in an irrigation district. Then, with comprehensive consideration of the importance, cost input, risk-taking, and effort of each participant, we examined the benefit allocation scheme in the WSMC projects of Field-project in an irrigation district by building a model based on Nash Equilibrium, Shapley value method, and modified Shapley value method. We found that the case in which the WUA E implements the WSMC project alone yields the lowest total revenue of the schemes considered, and each participant's benefit is also at the lowest. Nash Equilibrium can achieve the maximum expected return for both participants. With the Shapley value method, the WUA E earns the largest benefits, accounting for 57.5% of total revenue, followed by the WSSE D. Under the calculation principle of the modified Shapley value model, the WUA E's benefit decreases significantly, implying that the revenues previously earned by the WUA E are transferred to the WSSE D. This result is due to the below-average levels of importance, cost input risk-taking, and effort for WUA E in the project. It can be seen that the modified Shapley value method is more suitable for benefit allocation of the WSMC project of Field-project in an irrigation district. Finally, a typical case study in China on a shared WSMC project of Field-project in an irrigation district showed how the proposed method works. Then, we proposed policy implications for promoting project implementation from three perspectives: stakeholders, income distribution, and risk management, and identified the limitations of the research and outlined the future research directions. [ABSTRACT FROM AUTHOR]

Sustainable development places a premium on recognizing people at risk of energy poverty, defined as the incapability to get a sufficient level of residential energy services. Therefore, this study analyses the relationship between economic development and rural energy poverty in Chinese regions. Using statistics from the China Families Panel Studies, it is observed that the Great Chinese Drought increased the risk of living in poverty. We conclude that there is wide variation in China's regions regarding economic liberalization and the country's energy deprivation. In provinces with different degrees of poverty, there is an inverse U-shaped association between economic growth and the country's energy poverty. The country's energy poverty reduced or even eliminated by advancing economic development to a specific degree. Many socioeconomic indicators at the home level are connected with energy poverty in various ways depending on the dimension, implying that individualized criteria are required to classify vulnerable families in each size and country-level considerations. [ABSTRACT FROM AUTHOR]

Technological singularity has seriously affected all the social, environmental, and economic genesis factors in mankind's history. The problem of assessing the quality of life in the digital economy is acquiring new nuances including social services. The objective of this study is to investigate unique impacts of digital transformation on economic, environment, and social progresses on the quality of life improvement in China. Environmental statistical data on the impact of investments in social, state, and other spheres of economic activity are analysed at the machine learning level. Application of high-performance computing (HPC) and big data technologies for obtaining data on socio-economic statistics in real-time, the presence of feedback in the Web 4.0 concept, transfer of a significant part of economic processes to internet platforms provide the information necessary for analysis. As a result, a basis is proposed for implementing software products in the form of institutional decision-making support systems for a long horizon of planning investments in the quality of life. [ABSTRACT FROM AUTHOR]