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Alternative institutions have played a significant role in the difficult and tenacious development process of private enterprises in recent decades. the paper applied 306 listed companies' data from January 2012 to December 2022 to investigate the relationship between institutional gap and enterprise behavior. Based on the identified, classified, and explained formal and alternative institutions, it proposed the concept of 'institutional gap' to infer the overlapped content of these two states. Concluding from the empirical results, Chinese private enterprises that introduced state-owned equity outperformance in management, financing and entering industries with high barriers. Moreover, the channel of state-owned equity introduction is compared with entrepreneurs' political participation. Although introducing state-owned equity is a crucial approach, the establishment and improvement of relevant legal systems is suggested, such as formal regulations and laws. The government should deepen the reform of the economic system to improve the business environment, so private enterprises consciously rely on market mechanisms to allocate resources efficiently and rationally, instead of actively seeking connections with the government to obtain benefits. The supervisory role of checks and balances shareholders should be exerted to the greatest extent to maintain and increase the value of state-owned assets, rather than allowing the controlling private shareholders to use them as resources acquired political capital. [ABSTRACT FROM AUTHOR]

Promoting high-quality economic development, boosting high-level ecological environment protection, and integrating deeply digital economy and energy efficiency has become a general trend. This paper, based on 284 prefecture-level Chinese cities from 2008 to 2018, uses the entropy weight method and super-efficient SBM-DEA model to measure the digital economy and energy efficiency (decompose into energy pure technical efficiency and energy scale efficiency), respectively. After the spatial and temporal evolution characteristics, a fixed-effect model is constructed to study the impact of the digital economy on energy efficiency. The research results show that: (1) the development of the digital economy effectively promotes energy efficiency, mainly reflected in the improvement of pure technical efficiency of energy; (2) the development of both the digital economy and the energy efficiency in China has complex spatial and temporal evolutionary characteristics, and there is heterogeneity in the impact of the digital economy on energy efficiency at the temporal and spatial levels; and (3) digital economy effectively improves energy efficiency by reducing unnecessary energy consumption through the R&D innovation effect. The development of the digital economy has far-reaching significance on the optimization and upgrading of the economic system, accelerating the improvement of energy efficiency and achieving green transformation. [ABSTRACT FROM AUTHOR]

Atmospheric resources provide important support for human economic and social systems through their unique ecosystem service functions. Implementing the off-office auditing of atmospheric resources for leading cadres holds great strategic significance for fundamentally solve air pollution problems. Exploring the compilation of an atmospheric resource balance sheet is a necessary pre-step in the implementation of outgoing audits. In this paper, atmospheric resources are innovatively divided into atmospheric capacity resources and atmospheric quality resources from the perspective of the ecosystem service functions of atmospheric resources. The value of atmospheric resource assets is calculated by combining the environmental capacity value method and the environmental loss evaluation method. This study evaluates atmospheric ecological achievements based on the atmospheric resources balance sheet and related accounts as the data carrier and opens up the key "blocking point" of the off-office auditing of atmospheric resources. This paper takes Anhui Province as an example and applies the accounting results of the prepared atmospheric resource balance sheet to evaluate the atmospheric resource ecological achievements of leading cadres from 2016 to 2020. The results clearly reflect the ecological achievements and shortcomings of local leading cadres during their tenure. [ABSTRACT FROM AUTHOR]

As a new concept for systematically evaluating ecosystem services, Gross Ecosystem Product (GEP) provides an effective means to comprehensively reveal the overall status of the ecosystem, the impact of economic activities on the ecological environment, and the effectiveness of ecological protection efforts. GEP accounting has been conducted in various regions; however, GEP's application in natural reserves still requires further exploration. Taking the Qinling Mountains as the research area, this paper aims to assess the relationship between GEP and economic development on the basis of the GEP accounting system. The results indicated that: (1) From 2010 to 2020, GEP tended to increase continuously and exhibited a distribution pattern with high value regions in the east and west, and low value regions in the north and south. (2) Over the years, the coupling coordination degree between GEP and GDP was in a consistent upward trend. In 2020, a good coupling coordination state between GEP and GDP was achieved in most districts and counties. (3) With the relative development between GEP and GDP, the social economy of most districts and counties lagged behind GEP in 2010. The number of districts and counties lagging in GEP in 2020 increased, while the number of regions with a balanced development of GEP and GDP was still relatively discouraging. (4) In general, elevation, contagion, temperature, population density, and precipitation were the main drivers of coupling coordination degree between GEP and GDP. If the relationship between economic development and ecological environmental protection can be reasonably balanced, it will further promote the sustainable development of nature reserves, and provide a scientific basis for sustainable policy-making in other similar areas. [ABSTRACT FROM AUTHOR]

State-owned multinational enterprises (SOMNEs) constitute a substantial portion of Chinese outward foreign direct investment (FDI). From an institutional affiliation perspective, this paper examines the differences in the two economic systems (state-owned vs. privately owned) for engaging in outward FDI. Leveraging a sample of Chinese outward FDI projects between 2004 and 2018, we conduct analysis on FDI frequency, location choices, and FDI motives. We also consider the moderating effects of the temporal and space dimensions. The results inform us that the two economic systems are complementary in promoting outward FDI from the home country. [ABSTRACT FROM AUTHOR]

The exploration and promotion of new energy constitute a significant initiative for numerous countries in their pursuit of sustainable development and efforts to alleviate climate change. However, the influence of a multitude of uncertain factors on the evolutionary path of new energy is currently poorly studied. By establishing a dynamic evolution model for new energy under polymorphic uncertainty, this paper analyses the complex interaction between new energy, economic growth, and carbon trading over the period 2020–2060, using China as a case study. We employ numerical simulation and sensitivity analysis to investigate the evolutionary trajectories of the new energy system under various parameter value scenarios. We show that the evolutionary trajectories will undergo substantial fluctuations before 2030, subsequently stabilizing from 2030 onwards. The study highlights that an excessively rapid pace of new energy development is detrimental to new energy systems, whereas energy storage system deployment has the opposite effect. There exists a significant risk of the system collapsing as a result of slow new energy development, over-building energy storage facilities, or over-intervening in carbon trading. We also find that overdevelopment of energy storage system may have greater negative impacts on the economic system than underdevelopment. [Display omitted] • Dynamic evolution model of new energy under polymorphic uncertainty is constructed. • New energy production elasticity and energy ratio are innovatively constructed. • Excessive intervention in carbon market can lead to the collapse of new energy system. • Overdeveloped energy storage hinder the synergy of new energy and economic growth. [ABSTRACT FROM AUTHOR]

Tax incentives are an important driving force for enterprises to ease financing constraints and promote innovation. Current studies focus on the tax-reduction effect of corporate tax incentive policies, paying less attention to the tax uncertainty engendered by tax reform. This study explores whether the predictability of corporate tax burdens is a key restrictive factor in corporate innovation. It focuses on the impact of tax uncertainty arising from the tax reform process on enterprise innovation, proposing a multidimensional measurement method to identify corporate tax uncertainty. The results show that tax uncertainty significantly inhibits corporate innovation and that its influence channels operate mainly through corporate financing constraints and information transparency. Further heterogeneity analysis reveals that a better regional economic system environment, greater tax enforcement effort, and digital transformation can restrain the negative impact of tax uncertainty on enterprise innovation. These findings enrich the literature on the factors influencing corporate innovation behavior and extend the research on tax reform, providing an innovative perspective for interpreting enterprises' tax burden. Furthermore, it offers practical implications for tax reduction reforms and guidelines for enterprise innovation. [ABSTRACT FROM AUTHOR]

• We reconstructed a complex wetland with nature-based solutions. • This eco-economic system was driven by renewable emergy flows and high exergy. • The mulberry-related industry provided good economic benefits. • The stable equilibria of the eco-economic coupling mode represented a state of synergistic symbiosis. Nature-based solutions (NBS) are effective approaches for solving ecological and economic problems related to wetland reconstruction, while emergy and exergy are well suited for evaluating reconstructed eco-economic systems. In this paper, we executed a wetland reconstruction project involving a mulberry-fir woodland and dike-pond complex (MFWDPC) with NBS in the water-level fluctuation zone of the Three Gorges Reservoir (TGR), China. We evaluated the coupling mode of this eco-economic system by using emergy and exergy theories. After wetland reconstruction, the emergy density that entered the MFWDPC was 1.48E + 18 sej yr−1 hm−2, in which the naturally renewable flow accounted for 96.31 % of the emergy inflows, and the emergy sustainability index (ESI) for the eco-economic system was 708.88. The exergy and specific exergy were 2.41E + 14 j yr−1 and 2.08E + 08 j yr−1 kg−1, respectively, and the emergy/exergy ratio was 1.55E + 03 for the MFWDPC. In addition, mulberry trees with strong flooding tolerance provided good economic benefits due to the use of these plants in reconstructed eco-economic systems. Our study of NBS for wetland reconstruction helps in understanding the synergistic symbiosis between ecosystems and economic systems, thereby promoting the reconstruction of degraded wetlands in China and other regions. [ABSTRACT FROM AUTHOR]

• A composite index named GLCDES is developed to dynamically assess the level of Green Low-carbon Circular Development. • The combined-assignment VIKOR model based on game theory is developed to thoroughly estimate the construction level of GLCDES. • Southwest China's Green Low-carbon Circular Development Economic System construction level is examined from 2012 to 2021, showing how the long-side principle governs each region's value. • Selecting and strengthening the long side in combination with its reality is an effective way to improve the construction level of GLCDES. Emission peak and carbon neutrality are critical components of China's overall ecological civilization, and the establishment of a sound Green Low-carbon Circular Development Economic System (GLCDES) is a fundamental countermeasure for solving China's resource, environmental, and ecological problems. This paper used the new development concept as entry points to establish a comprehensive evaluation index system encompassing six subsystems: development dynamics, production and living systems, green benefits, low-carbon benefits, circularity benefits and socio-economic benefits. The combined-assignment VIKOR model, based on game theory, was used to thoroughly estimate the construction level of GLCDES by combining panel data from four southwestern provinces, including Chongqing, Sichuan, Guizhou and Yunnan, from 2012 to 2021. The study discovered that: the construction level of GLCDES in all four southwestern provinces increased over the past ten years, but the increase was not significant, the four development effectiveness indices, including green, low-carbon, circularity and socio-economic, were significantly improved, the development dynamics index was not significantly enhanced, and the index of production and living systems declined in fluctuation from year to year. The construction level of GLCDES between regions was very uneven and can be divided into two echelons, with the gap between Chongqing and Guizhou being particularly obvious. Regions can be categorized into three major categories based on the number of dominant subsystems. According to the above results, the total value of the dynamic comprehensive evaluation of each region is governed by the principle of the long side, which is an effective way to improve the construction level of GLCDES by selecting and strengthening the long side in combination with its reality. [ABSTRACT FROM AUTHOR]

Hong Kong presents a test case of China's willingness to adapt Western liberal values of individual freedom and the rule of law in a corner of China. The Western model of governance, along with its common law system and capitalist economic system, has been permitted to operate side by side with the Chinese socialist system within the framework of Chinese sovereignty and the People's Republic of China's (PRC) political and legal system. The formation and implementation of the policy of 'one country, two systems' (OCTS) entail Chinese law-makers' selective integration of international and Western rules of governance into the Hong Kong and China context to serve the interests of the PRC party regime. This article explores the approaches taken by the PRC to the governance of Hong Kong in light of the regime's political and economic goals and how the Western concept of rule of law and autonomy is perceived and substantiated in terms of the communist ideology. The author argues that the intrinsic value of OCTS lies in seeking complementarity and coexistence between the Western liberal norms of governance and Chinese communist ideology, and that this intrinsic value should be upheld and remain in full force to serve as a normative consensus between China and the West. [ABSTRACT FROM AUTHOR]

In this paper, the development of the blue economy is considered from the perspectives of integrity, relevance, and operability. First, to further expand blue living space and achieve blue growth, development thinking must shift from supporting the development of a single agent to supporting the coordinated development of multiple agents. Thus, we set a list of 116 blue products. Second, we construct a conceptual model of the national blue economic system space. Taking China as an example, the product data, firm data and province data in China's blue economic system are collected and processed based on the needs of the study, and the basic dataset for constructing China's blue economic system space is obtained. Third, based on the blue product space, the blue firm network and the blue province network of China, as well as the mapping relationship that existed among them in 2010, China's blue economic system space in 2010 is constructed. Finally, evolutionary maps of China's blue economic system space from 1985 to 2018 are drawn to identify the spatial structure and characteristics of China's blue economic development. We use application examples to verify that the national blue economic system space can play an important role in assisting countries in conducting systematic multicriteria assessments of blue growth strategies, and the use of such a complex network makes countries more likely to formulate evidence-based policies without being influenced by vested sectoral interests. [ABSTRACT FROM AUTHOR]

The contemporary economic landscape has placed significant emphasis on the digital economy and economic resilience, progressively emerging as pivotal focal points for examining the high-quality development of economic systems. However, there remains to be more research on several critical topics. This includes the characteristics of coordinated development between the digital economy and economic resilience systems and their interdependence. In response, this study formulates a comprehensive evaluative framework for digital economy development and regional economic resilience, grounded in the intrinsic mechanisms of both domains. It conducts a thorough evaluation employing entropy weight-TOPSIS methodology. Additionally, leveraging coupling theory, a coordination model's coupling degree serves as the foundational framework for scrutinizing the symbiotic advancement of the digital economy and economic resilience, along with their interdependent nature. The research sample comprises data from 31 provinces and municipalities in China (excluding Hong Kong, Macao, and Taiwan) from 2011 to 2020. Spatial autocorrelation and Geodetector methodologies probe the evolutionary traits and driving factors underlying the coordinated developmental relationship between these two systems. The findings indicate an upward trajectory in China's annual comprehensive development index for digital economy development (from 0.233 to 0.458) and regional economic resilience (from 0.393 to 0.497). The coupling and coordination between the two systems, measured from 0.504 in 2011 to 0.658 in 2020, demonstrate a consistent growth pattern with an average annual increase of 3.01%. These levels exhibit continuous improvement, with comprehensive economic zones manifesting hierarchical results within the coupling range of [0.5, 0.8]. Notably, agglomeration development evinces a pronounced spatial positive correlation, while local Moran scattering points are primarily concentrated in localized migration leaps. Factors such as foreign-funded enterprises' total import and export volume, online payment capability, and fiber-optic cable length greatly influence the coupling relationship. In contrast, other variables exhibit a lower and more fluctuating degree of weighted impact. This study establishes a foundation for the synergistic and effective development of the digital economy and economic resilience within the Chinese region. Simultaneously, it offers valuable insights for research of related subjects in global contexts. [ABSTRACT FROM AUTHOR]

At present, the new energy industry represented by photovoltaics has become the main force to realize the optimization of China's energy structure and the goal of "double carbon"; with the absence of land resources, the waterborne bifacial photovoltaic has ushered in a new opportunity. Therefore, in order to address the problem that the maximum power point tracking (MPPT) of photovoltaics (PV) could not take into account, the dynamic economic performance in the control process, an economic model predictive control (EMPC), is proposed in this work to realize the MPPT of the waterborne bifacial PV power generation system. Firstly, the model of the bifacial PV module is constructed by combining the ray-tracing irradiance model and considering the effect of water surface albedo on the irradiance absorbed by the module. Secondly, the EMPC controller is designed based on the state-space model of the system to maximize the power generation as the economic performance index, and to solve the optimal input variables time by time to achieve a rolling optimization with the operational requirements of the system itself as the constraints. Thirdly, the MATLAB/Simulink (R2022a) simulation experimental results verify that the EMPC strategy could be utilized to achieve MPPT of the waterborne bifacial PV power generation system, according to the changes of environment. Finally, it is also demonstrated that the bifacial PV power generation system that employed the EMPC strategy outperformed the traditional MPPT algorithm, with respect to both output power tracking velocity and accuracy, and the power generation could be improved by about 6% to 14.5%, which significantly enhances the system's dynamic process economics. [ABSTRACT FROM AUTHOR]