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The traditional model of factor-driven economic growth can no longer be maintained due to an increasing demand to save energy and reduce emissions and a rapid rise in the cost of related factors. The concept of green total factor productivity (GTFP) has emerged as an essential component of high-quality economic growth; consequently, how to boost GTFP through the development of technical advancement has become an important question in recent years. An improved CES production function of labor, capital, and energy is created using the theoretical framework for biased technological growth as its foundation. Subsequently, the mechanisms resulting from the synergy of factor structure, factor efficiency and biased technological progress (BTP) on GTFP are theoretically deduced and empirically analyzed. The conclusion shows that the types of technical advancement are mainly net labor-enhancing and net energy-enhancing technical advancement in China from 2001 to 2017. Due to the biased effect of technical advancement, the relative comparison of the three elements is determined predominantly by excessive capital investment and less by labor and energy. Factor-enhancing technical advancement led to the growth of GTFP, while the synergistic effect of BTP, factor structure and factor efficiency hindered the growth of GTFP. [ABSTRACT FROM AUTHOR]

Based on unique firm-level microdata, this study adopts the conditional logit model to empirically evaluate the impact of the environmental tax on the siting of foreign-invested manufacturing enterprises. We also explore the trade-offs of the environmental tax by assessing its economic costs and benefits. This study finds that the environmental tax has a statistically significant and negative impact on the siting of foreign-invested enterprises, as verified by a series of robustness checks. This result implies a trade-off of the environmental tax, reducing pollutant emissions at the expense of damaging economic growth. Heterogeneous analysis finds that the siting is remarkably more sensitive for foreign-invested enterprises that are sole-venture, in high-polluting industries, small-scale, or hosted by developing countries. The other trade-off is outlined: although the environmental tax reduces the number of newly registered foreign-invested enterprises, it brings some economic benefits by making the structure of foreign investment cleaner and more advanced. [ABSTRACT FROM AUTHOR]

We test the impact of globalization on the inflation process (global slack hypothesis) for 15 emerging economies over the period (1996Q1-2019Q4). The novelty of this article lies in testing the impact of globalization on the inflation process. We introduce the smooth transition regression (STR) model of the Phillips curve to capture the gradual impacts of globalization on inflation dynamics. The main results are as follows. (i) The asymmetries in inflation exist that are not captured by the linear Phillips curve. (ii) The domestic output gap remains a main driving force of inflation. (iii) Globalization based on the trade weighted average of the domestic output gap does not affect the inflation process compared to other variables like the trade openness, import prices, real exchange rate and international oil prices. Our results yield important implications that the central banks of the emerging economies can stabilize inflation and output gap in an effective way, exploiting the inflation-output gap relationship. When economic expansion of the trading partners increases, the process of inflation dynamics changes in two economies (Brazil, and China). [ABSTRACT FROM AUTHOR]

The China-Pakistan Economic Corridor (CPEC) is a cornerstone of China's Belt and Road Initiative (BRI). It aims to enhance regional trade and economic expansion in Pakistan. We adopted systematic review approach to investigate the agricultural trade narrative of the CPEC and identify future research avenues. Our study uses the Web of Sciences and Scopus database to extract the relevant literature. We executed the search query for 2013–2023. We followed the Preferred Reporting Items for Systematic Review and Meta-Analysis (PRISMA) statement to identify the literature. The final analysis includes only 14 articles. We found that the literature mainly focuses on three topics, Gwadar port, road infrastructure, and agricultural complementarity and competitiveness. The review reveals the significant potential of CPEC on the agricultural trade of Pakistan. Based on the review, we point to avenues that could be considered in future research work to fully exploit the potential of CPEC in the agriculture sector of Pakistan. [ABSTRACT FROM AUTHOR]

Amidst global sustainability challenges, green finance emerges as a crucial instrument for advancing sustainable development, garnering increasing attention for its pivotal role in fostering high-quality economic development (HQED), particularly within the dynamic economic landscape of China. This study delves into the nexus between green finance and HQED across 30 Chinese provinces from 2012 to 2021. Employing the entropy method, indices for green finance and HQED index system are calculated, and their interaction is analyzed through a panel data model, incorporating tests for moderating effects of FinTech and green technological innovation, as well as assessing the heterogeneity across diverse regions. The findings highlight green finance's significant role in enhancing HQED, with notable regional disparities. Specifically, the eastern region shows the strongest impact, followed by the central region, while the western and northeastern regions exhibit weaker influences. The study also identifies FinTech and green technological innovation as pivotal moderators, amplifying green finance's positive effect on HQED. These insights underscore green finance's importance in driving sustainable economic growth and highlight the necessity for region-specific strategies to optimize its impact. Policy recommendations based on these findings include prioritizing the development of green finance, formulating region-specific strategies, and leveraging the catalytic roles of FinTech and green technological innovation to enhance the efficacy of green finance in achieving HQED. [ABSTRACT FROM AUTHOR]

Since the Belt and Road Initiative (BRI) was initiated in 2013, China under Xi Jinping has continued to expand its capital to various countries. This expansion is part of China's strategy to shore up its position as a major global economic and political power vis-à-vis the United States. As nearly 70 countries have joined the BRI network, this economic cooperation scheme contributes to economic growth and helps close the infrastructure gap. Nevertheless, the case of China's capital expansion in Africa has shown mixed results, where some economies are becoming more dependent and even facing a debt trap. This article addresses why such economic cooperation has turned into a debt trap for countries in the African region. Applying the concept of Structural Power in examining China's investment in Zimbabwe, Cameroon, and Djibouti, this article argues that the debt trap has been caused by the structural disparity between China as an investor and African countries as investment recipients. China, in this case, has a more dominant "good" aspect, while African countries are more in "need." This article also contends that the debt trap is a strategy carried out by the Chinese government to dominate the African economies in the long run. The three case studies are valuable as they represented different geographical locations in the region and portray a border of lower middle-income countries in general. [ABSTRACT FROM AUTHOR]

This study aims to analysis the influence of economic growth (EG) and energy consumption (EC) on sulfur dioxide emissions (SE) in China. Accordingly, this study explores the link between EG, EC, and SE for 30 provinces in China over the span of 2000e2019. This study also analyzes cross-sectional dependence tests, panel unit root tests, Westerlund panel cointegration tests, Dumitrescu-Hurlin (D-H) causality tests. According to the test results, there is an inverted U-shaped association between EG and SE, and the assumption of the Environmental Kuznets Curve (EKC) is verified. The signs of EG and EC in the fixed effect (FE) and random effect (RE) methods are in line with those in the dynamic ordinary least squares (DOLS), fully modified ordinary least squares (FMOLS) and autoregressive distributed lag (ARDL) estimators. Moreover, the results verified that EC can obviously positive impact the SE. To reduce SE in China, government and policymakers can improve air quality by developing cleaner energy sources and improving energy efficiency. This requires the comprehensive use of policies, regulations, economic incentives, and public participation to promote sustainable development. [ABSTRACT FROM AUTHOR]

The interactive behaviors, such as competition and learning between local and neighboring cities, can lead to spatial spillover effects in policy implementation. Estimating the direct, indirect, and total effects of the carbon emission trading scheme (CETS) on green innovation is crucial to clarify its role and mechanisms. This paper applies the spatial difference-in-differences model to estimate these effects using data from 278 cities in China from 2009 to 2019. The results demonstrate that the CETS implementation catalyzes green innovation in pilot cities, which supports the Porter hypothesis. However, it has a negative impact on green innovation in neighboring cities of pilot cities, with this negative impact diminishing as distance increases. Notably, the total effect of the CETS is significantly negative, indicating that the CETS's average impact on green innovation in all cities is negative. Mechanism analysis reveals that the direct and indirect effects of the CETS on green innovation are strengthened in cities with higher levels of financial development, lower financial pressure, and easier economic growth targets. Notably, in cities with high-level industrial structures, the CETS not only enhances its contribution to green innovation but also mitigates its negative impact on neighboring cities. Furthermore, this paper explores the heterogeneous effects of the CETS from the perspective of its implementation measures. [ABSTRACT FROM AUTHOR]

From the perspective of investment-driven to innovation-driven for high-quality development, this study discussed an influence mechanism of investment structure optimization on the industrial agglomeration degree and its growth path of balanced regional economics. We put forward assumptions about their relationship with a mediator of the regional innovation capability and a moderator of the market-oriented business environment to solve problems of the regional economic gap to accelerate the construction of a unified national market in China. We used the regional industrial data of 31 provinces in China from 2004 to 2017 to verify these hypotheses. Finally, we found that regional innovation capability completely moderates the relationship between investment structure optimization and industrial agglomeration degree, and the market-oriented business environment adequately moderates the relationship. This result shows that regional innovation capability and market-oriented business environment restrict industrial agglomeration degrees and accelerate the integration of diversified capital. So, improving the investment of human capital and R&D capital is the key to solving the regional economic gap. It has enriched the research of high-quality development and provided necessary enlightenment for the practical application of regional industrial economic growth. [ABSTRACT FROM AUTHOR]

The green transformation of industry and sustainable economic development both require considerable investment. In this regard, green finance that is compatible with economic development can help cope with the massive demand for capital. Taken China's Yangtze River Delta (YRD) as an example, this study is to measure the coordination degree between green finance and economic development. First, the concept, content and scope of green finance is defined based on the new financial regulation mechanism. Second, a green finance measurement index is built to calculate the green finance index for 30 Chinese provinces by the CFA test. Third, based on the economic structure index, an economic development index is built. Testing the rationality of green financial index and the economic development index, this paper finally measures the degree of coordination between green finance and economic development in the YRD. The results reveal that, first, green finance is a financial instrument that integrates financial industry development, environmental improvement, and economic growth. The measurement of the green financial development index includes the sum of regional green credit, green investment, green securities, and green insurance. Second, after years' development, the comprehensive score of YRD's coupling coordination degree exceeds 0.8 in 2020, which shows a high level of coordinated development between green finance and economic construction. However, there is a 2-year timing effect between the economic development and green finance index increase, which reveals that green finance development in the YRD requires further policy guidance and support. This study's findings can provide a theoretical reference and case support for the further development of green finance and related policies in China. [ABSTRACT FROM AUTHOR]

Economic development and environmental sustainability have recently become global priorities. This study utilizes the nonlinear autoregressive distribution lag model (NARDL) to investigate the asymmetric effects of natural resource rents on economic growth and environmental quality in China and the United States from 1970 to 2020. The findings indicate that natural resource rents exert asymmetric effects on economic growth and environmental quality in both countries; however, the impact patterns differ between the two countries. In the short term, a decrease in natural resource rents significantly increases GDP per capita in the US, while an increase in natural resource rents has no effect. Moreover, natural resource rents do not influence the ecological footprint in the US. By contrast, China's GDP per capita remains unaffected by natural resource rents, while the ecological footprint is significantly influenced by both positive and negative changes in natural resource rents, exhibiting asymmetric impacts. In the long run, an increase in natural resource rents significantly impacts both GDP per capita and the ecological footprint in the US, while a decrease only impacts the ecological footprint. By contrast, both increases and decreases in natural resource rents impact per capita GDP and the ecological footprint in China. These findings highlight the importance of tailoring country‐specific policies to facilitate sustainable economic development and enhance environmental quality. [ABSTRACT FROM AUTHOR]

The research aimed to: study the features of China's economic growth, study the social responsibility of industrial companies (CSR), study the determinants of the comparative and competitive advantages of the clothing industry in China, study indicators of protection and competitive advantages and measurement methods. The most important findings of the research were the availability of Porter's diamond theory of national advantage and the theory of national advantage. Stakeholders provide a theoretical basis for analyzing the factors that contribute to China's competitive advantage in the global apparel manufacturing industry. The two theories explain the factors that influence global competitive advantage, as well as providing an understanding of the various stakeholders involved in China's apparel industry's competitive advantage. The theories also provide a structure for developing a protocol Interview for this study. [ABSTRACT FROM AUTHOR]

Among Hans Ulrich Vogel's important contributions to Chinese and world history has been his work on the outsized influence China exercised in the early history of globalization. In this brief article, we pay tribute to his careful research and deep insights by describing the interconnected circuits of exchange of three commodities – mercury, silver, and sea otter pelts – through which the early Pacific economy was articulated and transformed. Following Professor Vogel's lead, we explain how the Chinese demand that drove these exchanges fueled competitive economic expansion of European powers in the Pacific, setting in motion political, social, ecological, and economic patterns whose influence endures into the present. [ABSTRACT FROM AUTHOR]

With a remarkable fivefold increase after 2008, China now has as many corporations among the world's largest 500 as the United States. The rate of increase is puzzling—it was twice that of China's economic expansion during a period when the national growth rate declined markedly. The rapid proliferation of corporate giants was due to three developments that distinguished China from all other major economies. The first was the massive and sustained expansion of credit for domestic infrastructure projects in response to the global financial crisis. The second was the allocation of close to $2.3 trillion of China's foreign currency surpluses to finance foreign asset acquisitions and construction projects. The third was a drive to consolidate state firms, primarily those owned by regional governments, into larger conglomerates. All these corporations, along with nonstate firms, rode the updraft of opportunities provided by the infrastructure drive and outward investment. One by-product of this expansion is an extreme concentration of giant firms, both state and nonstate, in sectors related to infrastructure and heavy manufacturing. This corporate profile contrasts markedly with all other major economies, even with Japan's at its height. [ABSTRACT FROM AUTHOR]

As one of China's most significant neighbouring states, Vietnam has been a natural focus of Chinese scholars. This article analyses how Chinese scholars have interpreted changes in the Vietnamese political economy after 1975, usually characterized in English as a period of "reform" and "renovation" that created steady high economic growth in Vietnam. While Vietnamese reform has been positive, Chinese discourse on it has varied from criticizing it to using it as a reference point for Chinese reform. Although previous studies attributed these variations to fluctuating China-Vietnam relations, I argue that shifts in China's domestic reforms also played a role. [ABSTRACT FROM AUTHOR]

Empirical studies have generally found that higher fertility has a negative or insignificant effect on economic growth. This article argues that this is because existing studies have failed to capture the long‐term lagged effects of fertility. By estimating a long‐term lagged panel model using data from 137 countries, I find that higher fertility first reduces and then increases economic growth, and the long‐term average effect is significantly positive. This finding is robust when focusing on countries at different development levels, exploiting exogenous fertility shocks from global family planning campaigns, and capitalizing on within‐country fertility variation resulting from China's one‐child policy. [ABSTRACT FROM AUTHOR]

Low-carbon transformation of the economy is the inevitable orientation of socialism with Chinese characteristics to high-quality development in the new era, while the Chinese decentralized development model determines that the competition of local governments in China is an important factor influencing the green technological innovation on low-carbon transformation of the economy. How to achieve coordinated economic growth and ecological environment has become a problem for local governments. Data from a Chinese provincial panel covering the years 2007–2019 is used to investigate the effects of heterogeneous local government competition (Comp), namely, economic, ecological and service competitions on economic low-carbon transition, and moderating effects of heterogeneous government competition and green technology innovation (GTECH) on the low-carbon economic transition (LCT). The results reveal that there are substantial disparities in the consequences of heterogeneous government competition on low-carbon economic transition (LCT). Among them, economic competition significantly dampens economic low-carbon transition (LCT), and ecological competition and service competition significantly boost economic low-carbon transition (LCT). After performing robustness checks, these results continue to be strongly convincing. The study of moderating effects shows that economic competition can dampen the positive influence of green technology innovation (GTECH) to the economic low-carbon transition (LCT). However, ecological competition and service competition facilitate the promoting effect of green technology innovation on economic low-carbon transition (LCT). [ABSTRACT FROM AUTHOR]

Purpose: We seek to quantify the relationship between urbanization and economic growth in China using recent advances in econometric techniques. Design/methodology/approach: This study adopts a smoothed instrumental variables quantile regression (SIVQR) estimator to obtain consistent estimates of the effects of urbanization on economic growth in China. Our approach accounts for the differential impacts of urbanization across the conditional distribution of economic growth while allowing for an identification strategy that addresses the endogeneity of urbanization. Our main findings reveal that ignoring urbanization endogeneity leads to inconsistent estimates of urbanization effects. Further, we find a positive relationship between urbanization and growth resembling an inverted U-shape. This supports the hypothesis that the beneficial effects of urbanization intensify at initial stages while diminishing beyond a certain threshold, due perhaps to weakening scale economies. Findings: Our main results indicate that the individual productivity gains brought by urbanization outweigh the negative effects thereof that impede productivity, thus contributing to the economic growth in China. Further, we find that ignoring differential impacts of urbanization underestimates the beneficial effects of urbanization for provinces whose quality of governance is in the vicinity of the center of quality distribution. Ignoring the endogeneity of urbanization generates inconsistent estimates of the elasticity of economic growth with respect to urbanization. Finally, we estimate an inverted U-shape resembling relationship between urbanization and growth. Research limitations/implications: First, future studies would benefit from incorporating more data as provinces further east on the mainland become more urbanized and urbanization runs its course. Second, controlling the barriers to rural-urban mobility would contribute to the robustness of the estimated relationship between urbanization and growth once such data became available. Unveiling the impact of government-imposed barriers is key to designing optimal policies that help fuel economic growth in the country. Finally, future research could benefit from information on urbanization sources not considered here such as inter-provincial migration, as such data become publicly available. Practical implications: Quantifying the beneficial effects of urbanization on economic growth can help guide the government in China to further fuel the growth through a set of relevant policy tools that promote urbanization. Social implications: Rural-urban migration in China lays the groundwork for economic advancement in recipient cities and economies, as it may induce scale economies. This can benefit both the economy at large and the migrants. Originality/value: The SIVQR estimator accounts for potential heterogeneous effects of urbanization across the entire conditional distribution of growth while allowing for an identification strategy that addresses the endogeneity of urbanization. An additional distinguishing feature of the current study is our use of the most recent novel, provincial-level data obtained from the National Bureau of Statistics of China. Our focus on a single country allows sidestepping issues arising from the inconsistency of the definition of urban across different countries while accounting for intra-country urbanization drivers intrinsic to China, such as natural features and geographic characteristics. Therefore, our approach has the potential to sidestep the bias resulting from the differences in mechanisms behind urbanization-growth relationships across different countries. [ABSTRACT FROM AUTHOR]

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Sino-Latin American trade have increased substantially for decades. However, the increasing trade imbalances between China and several Latin American countries have yielded growing trade frictions. In this paper, we re-calculate the bilateral trade balance using the value-added content in trade and measure the contribution of Sino-Latin American trade to economic growth. The results show that gross trade statistics seriously overestimate the real bilateral trade imbalance, and China's trade surplus with Mexico decreased by over 50%. The composition of Sino-Latin American trade suggests that most Latin American economies are complementary with Chinese economy. The South-South trade has been increasingly important for both China's and Latin America's economic development. We foresee an optimistic future of relations and continuously increasing trade between China and Latin America. Meanwhile, more efforts should be made to settle trade frictions and intensify Sino-Latin American relations. [ABSTRACT FROM AUTHOR]

The transportation industry (TRAI) is an important source of carbon emissions for China to achieve its peak carbon and carbon neutrality targets. This study analyzes the coupled integration of TRAI economic growth and carbon emissions in 30 Chinese provinces from 2005 to 2020 using a Tapio decoupling elasticity model and an environmental Kuznets curve (EKC) model. Then, a long-term energy alternative planning (LEAP) system model was constructed to predict and simulate the development of TRAI in China. The results of the study are as follows. (1) TRAI shows an inverted U-shaped decoupling in most provinces across the country, and most of the decoupling is usually more volatile in provinces with higher levels of economic development. In addition, COVID-19 positively contributes to the development of TRAI nationwide and in three regions. (2) The Tapio-EKC coupling curves of TRAI and eastern TRAI (ETRAI) nationwide have an inverted N-shape, and central TRAI (CTRAI) and western TRAI (WTRAI) have an inverted U-shape. Twenty-seven provinces crossed the decoupling elasticity inflection point nationwide, all provinces of ETRAI crossed the EKC inflection point, while all provinces of CTRAI and WTRAI did not cross the EKC inflection point; (3) The carbon reduction rates after scenario simulation ranged from 5.07 to 54.94%, with aircraft, ships, private vehicles, and their fuels (aviation kerosene, diesel, and gasoline) being the focus of energy saving and emission reduction. The coupled Tapio-EKC analysis model of this study is universal and can be extended to other provinces, cities, or industries. [ABSTRACT FROM AUTHOR]

The aims of this study is to investigate the relationship between real exchange rate and innovation in China for the period spanning from 1985 to 2020 using an annual time series data collected from different sources. The study employs autoregressive distributed lag bound test and other econometrics techniques to analyse the short‐run and long‐run relationship among the variables. The findings of the study reveal the existence of short‐run and long‐run relationship between real exchange rate (undervalued RMB) and technological innovation. Furthermore, real exchange rate (undervalued RMB) has positive effect on innovation while real exchange rate volatility is negatively affect innovation. Based on the above empirical findings, the study suggests some policy implications which are considered important for fostering rapid and sustainable economic growth. [ABSTRACT FROM AUTHOR]

Improving individual health not only enhances labor productivity but also boosts the productivity of society as a whole. China's economic development is in urgent need of transitioning from being driven by factors to being driven by innovation, which places higher demands on Health Human Capital (HHC). An evaluation system consisting of 18 indicators across four dimensions—basic health, preventive healthcare, medical resources, quality, and healthy environment—was used to calculate the HHC index of 31 provinces and cities in China from 2005 to 2019 using the entropy method. Following that, this study assessed the influence of HHC on economic growth using endogenous growth theory and the Corgis production function. Firstly, we discovered that the level of home healthcare services in China is on a steady incline, with eastern China showing better results compared to western and northeastern regions. Secondly, enhancing HHC will lead to a rise in the local real per capita GDP and foster economic growth, although there may be regional disparities. Thirdly, provinces with a higher level of economic development exhibit a more significant promoting effect, with southern China showing a greater impact than northern China. China should continue to prioritize both efficiency and equity in the allocation of medical and health resources, while also working to reduce the disparities in HHC development among different regions. [ABSTRACT FROM AUTHOR]

Chinese cities are pursuing an energy transition to decouple energy-related carbon emissions (ERCEs) from economic growth. Despite numerous studies focusing on the factors influencing carbon emissions, few have quantitatively analyzed their respective contribution rates, thus leaving a gap in effectively guiding policies. This study took 16 cities in the Yangtze River Delta (YRD) as the study area. The decoupling between ERCEs and economic growth was analyzed during 2000–2020, and the contribution rates of different factors were explored. The results showed that the total ERCEs increased from 413.40 million to 1265.86 million tons during 2000–2020, increasing by over three times. Coal and oil were the dominant energy sources in most cities, but natural gas consumption increased from 0.15% to 5.96%. Moreover, 14 cities showed a decoupling status, indicating a certain win–win situation between economic growth and ERCE reduction. Economic growth greatly increased ERCEs, with its contribution rate ranging from 114.65% to 493.27% during 2000–2020. On the contrary, energy structure and energy intensity both contributed to reducing ERCEs in most cities, and their maximum contribution rates reached −32.29% and −449.13%, respectively, which were the main forces for the win–win situation. Finally, carbon reduction proposals are put forward, which provide theoretical support for achieving the "Double Carbon" goal in the YRD. [ABSTRACT FROM AUTHOR]

In today's highly advanced industrialised and modernised world, China's economy is still growing, and its demand for energy is increasing daily. It is crucial to examine the connection between energy consumption, carbon emissions, and economic growth in order to promote economic growth based on energy conservation and emission reduction. Using Dezhou City in Shandong Province as an example, the study builds a VAR model of carbon emission, energy consumption, and economic growth in Dezhou City based on simplified macroeconomic sub-models, energy sub-models, and environmental sub-models. It then determines the correlation and influence mechanism between the three using tests like ADF unit root and Granger causality. The pertinent elements affecting Dezhou's carbon emissions were then investigated using grey correlation analysis. Finally, based on the study's findings, policy suggestions are made regarding energy use, carbon emissions, and economic expansion. It is necessary not only to restrain high-energy consumption industries and fundamentally optimize the energy consumption structure, but also to find new economic growth points and improve economic growth channels, so as to optimize the industrial structure. In this process, increasing the proportion of the tertiary industry is a key measure. In addition, the government needs to advocate the citizens to adopt a low-carbon lifestyle, and the concept of low-carbon environmental protection will be deeply rooted in the hearts of the people. This study will provide suggestions and theoretical guidance for China's energy consumption and carbon emissions, and help achieve high-quality growth of China and even the world economy. [ABSTRACT FROM AUTHOR]

Rapid economic and energy growth in Asia has led to change in the loadings of black carbon (BC) in the last two decades. This work uses remotely sensed column absorbing aerosol optical depth to quantify BC loading day-by-day and grid-to-grid. Variance maximization is used to uniquely compute an unbiased set of observations of remotely sensed NO2 in space and time of urban and suburban sources, including regions with changing energy and industry. An inversely applied probabilistic MIE algorithm constrains the size, mixing state, and number of BC using four spectral observations. Significant differences in the particle size and mixing state are identified and attributed including: a drop around 2012 when China's national air pollution policies were adopted, a drop ahead of the 2008 Olympics, and flattening from 2015 onward. A case of simultaneous reduction in BC mass and increase in BC number demonstrates PM2.5 controls may not fully control BC. [ABSTRACT FROM AUTHOR]

Carbon mitigation and net-zero targets have an important place on the political agenda for all countries. Countries have been seeking to decouple economic growth and carbon emissions to achieve decarbonization. However, there is a cost of the decarbonization of economies, which can be called as Green Sacrifice Ratio (GSR), and this is critical for developing countries because they have been in the growing stage. By considering the critical role of GSR in achieving net-zero emissions by decarbonizing economies, the study comparatively examines how much environmental quality should be sacrificed for per capita economic growth in China and India. In line with this purpose, the study uses the Fourier-Shin cointegration test and various time series estimators with Fourier approximations for the period from 1989/Q1 to 2022/Q4. Estimation results are as follows: (i) all variables follow the non-stationary process, (ii) the long-run relationship exists between variables, and (iii) Estimation results show that GSR is 0.65% for China and 0.78% for India. Therefore, China and India sacrifice a significant amount of environmental quality for a 1% increase in per capita income level. Also, the ecological cost of increasing economic welfare in India is higher with regard to China. Besides, the results are robust according to the alternative method. Thus, the study recommends that both Chinese and Indian policymakers should revise the economic expansion structure with green growth strategies to prevent irreversible environmental degradation due to higher economic growth. [ABSTRACT FROM AUTHOR]

This paper investigates the spillover effect of government locations on economic growth by exploring more than 180 relocation events of city governments in China. Empirical results demonstrate that government relocations improve regional economic growth measured by night lights. This positive effect decreases with the distance to city governments' new locations. Government relocations are also found to accelerate urbanization. Potential mechanisms include the changes in land conversion and firm birth patterns in the move-in areas. These results indicate that the relocation of local governments can be an effective place-based policy to improve economic growth and urbanization. [ABSTRACT FROM AUTHOR]

Can the expansion of a prosperous middle class help China to rebalance to consumption-led growth? We address this question through analysis of macro- and micro-level data. Using macro statistics, we examine trends in national aggregate consumption and GDP growth from 2000 through 2019. We observe growth in aggregate consumption but do not find convincing evidence of consumption-led growth. Using micro-level household survey data from 2002, 2007, 2013 and 2018, we estimate the size of China's prosperous middle class and its contribution to aggregate consumption growth. We find that the prosperous middle class expanded rapidly but contributed less to aggregate consumption growth than expected. We discuss features of this class that diminished its contribution to consumption-led growth, including its low propensity to consume out of income and its limited expansion beyond urban subgroups. We conclude that the expansion of the prosperous middle class is necessary but not sufficient to bring about rebalancing. [ABSTRACT FROM AUTHOR]

This paper examines how the worship of ancient wisdom affects economic progress in historical China, where the learned class embraced classical wisdom for millennia but encountered the shock of Western industrial influence in the mid-nineteenth century. Using the number of sage temples to measure the strength of classical worship in 269 prefectures, I find that classical worship discouraged intellectuals from appreciating modern learning and thus inhibited industrialization between 1858 and 1927. By contrast, industrialization grew faster in regions less constrained by classicism. This finding implies the importance of cultural entrepreneurship, or the lack thereof, in shaping modern economic growth. "The humor of blaming the present, and admiring the past, is strongly rooted in human nature, and has an influence even on persons endued with the profoundest judgment and most extensive learning." —David Hume (1754, p. 464). [ABSTRACT FROM AUTHOR]

In 2013, China launched her targeted poverty alleviation, and a large amount of fiscal anti-poverty funds have been invested. However, whether the enormous fiscal anti-poverty funds have had a positive impact on the local economy has been ambiguous. This study investigates the impact of fiscal anti-poverty funds on local economic growth, drawing on Chinese fiscal data at the county level. Our results indicate that fiscal anti-poverty funds are not conducive to local economic growth. Further analysis reveals that anti-poverty funds reduce fiscal support for the service industry, manufacturing industry, enterprise development, and technical innovation. This is because impoverished counties are forced to supply extra fiscal anti-poverty funds, which leads to compression of fiscal expenditures in other areas due to local deficient finance. [ABSTRACT FROM AUTHOR]

Using a panel data set comprising 284 prefecture‐level and above cities in China during 2005–2018, this study develops a theoretical mechanism harnessing the spatial Durbin model (SDM) to accumulate evidence and explain how innovation affects China's economic growth. It is found that regional economic growth is facilitated by local innovation activities as well as the absorption capacity of innovation and technology spilled over from other regions. This study also identifies 12 regional innovation poles across the country, which are found to have played a significant role in promoting urban economic development within a physical distance range of 150 km of a given region. This finding attests to the radiation effect from regional innovation poles in cultivating more such poles for China, to promote sustainable high‐quality economic growth, suggesting a route for China to avoid the curse of the middle‐income trap. [ABSTRACT FROM AUTHOR]

Agglomeration economies can bring about positive externalities, while excessive agglomeration backfires. However, existing literature on place‐based policies mainly focuses on policies that enhance agglomeration economies. Few studies discuss dispersion policies coping with the negative externality from excessive agglomeration. Owing to the unclear effects of dispersion policies, we conduct empirical research on the noncapital function relief (NCFR) policy, which is implemented to decrease the agglomeration in Beijing, the capital of China, and promote the development of surrounding areas. Exploiting the difference‐in‐difference model, we find that the NCFR policy implementation significantly facilitates the economic growth of the surrounding areas of Beijing. Changes in the distribution of new firm entry and population are two main channels, while no significant effect on the productivity is found. Furthermore, areas that are less‐developed could benefit more from the NCFR policy. Our findings may enlighten other developing countries in urban economic management. [ABSTRACT FROM AUTHOR]

This study investigates the impact of inflation rate fluctuations on economic growth in China, with a particular focus on potential non-linear characteristics. The global economic impact of the COVID-19 pandemic notably heightens the study's relevance. The research that the unidirectional causal relationship from inflation to economic growth in China first strengthens and then weakens over time. Furthermore, there is an inflation rate threshold effect on economic growth, identified at 2%. Below this threshold, inflation positively influences economic growth, whereas above it, the impact turns negative. This finding underscores the importance of balancing economic growth with inflation control in the formulation of monetary policy. [ABSTRACT FROM AUTHOR]

This paper investigates the moderating role of the macroeconomic environment in the crash risk-policy uncertainty sensitivity. We find that managers have lower risk perception and crash risk is less sensitive to policy uncertainty during periods of economic expansion. Managers' risk perception is the critical channel through which the macroeconomic environment affects the relationship between crash risk and policy uncertainty. Consequently, when firms' managers have an accurate understanding of the future economic environment, the moderating effect of economic growth is lower. This manifests in the weaker moderating effect of economic growth for SOEs and firms with stronger managerial ability, lower managerial ownership, and high media attention, which further supports the risk perception channel. [ABSTRACT FROM AUTHOR]

Farmland mortgages are expected to drive county agricultural economic growth (CAEG) as a crucial component of furthering the reform of the rural land system and the reform of the rural financial system against the new backdrop of the new era. This study gathers panel data from 2045 Chinese counties from 2011 to 2020 and uses the difference-in-differences method and the synthetic control method to systematically examine the effects of China's farmland management right mortgage loan (FMRML) pilot program on CAEG. The FMRML pilot program was implemented in 2016, and this research is presented as a quasi-natural experiment. The findings indicate that there is a "policy trap" and that CAEG has not been successfully promoted by the FMRML pilot program. The reason for this is because the pilot program has made county resource mismatch worse, making it unable to fully realize the promotional effect on CAEG, rather than significantly activating the three key drivers of agricultural economic growth: people, land, and money. The impact of the FMRML pilot policy on CAEG is not uniform, according to the results of the heterogeneity study, with a substantial "blocking" effect only in the central region and no significant influence in the western, northeastern, or eastern regions. The findings propose that in order to optimize agricultural mortgage policy and advance CAEG, China and other emerging nations can benefit greatly from the insights this study offers. [ABSTRACT FROM AUTHOR]

China's economic growth rate has shown a general downward trend since 2010, and in unadjusted figures, the difference between the economic aggregates of China and the United States widened during 2022 and 2023. Consequently, misinformation concerning China's economic trends has appeared both in China and abroad. This study aims to refute the misinformation by demonstrating that China's economy has not fallen into a prolonged recession, and that the downward trend of China's economic growth is not a result of suppressing private enterprises while privileging state-owned firms. The gap between the economic aggregates of the United States and China has not begun to widen, and it is wrong to suggest that China can achieve sustained high-quality development through further privatization, marketization, and liberalization. [ABSTRACT FROM AUTHOR]

In this paper, we aim to analyze the behavior of developed-country acquiring firms in dealing with Cross-Border Mergers and Acquisitions location choices at both national and sub-national levels with the impact of carbon risk and heterogeneous environmental regulations (Government, Civil, and Market Environmental regulations) and to explore their Cross-Border Mergers and Acquisitions performances under different situations. A sample of 874 intra-manufacturing Cross-Border Mergers and Acquisitions completed by developed-country acquirers and conducted in developed countries and China during 2002–2021 was analyzed using logistic regression and multiple linear regression. The results show that: (1) Acquirers with higher carbon risks tend to choose China rather developed country as the target location, while this relationship is not strengthened by the home country's high-level environmental regulations; (2) At the sub-national level, Chinese provinces' government environmental regulations cannot impede acquirers to enter; what's more, the civil environmental regulations even attract these acquirers, this is particularly the case if the acquirer has high carbon risk; (3) Acquirers with higher carbon risks can achieve more performance, no matter whether they choose China as the target country. Our findings add insight into the effect of carbon risks on companies' decisions and the unique characteristics of the heterogeneous environmental regulations in China. What's more, implications are provided for Chinese regulators and policymakers, e.g., listening to the public opinion, improving the governance quality, and attracting foreign investors to help domestic industry upgrading and maintain long-run economic growth. [ABSTRACT FROM AUTHOR]

Since inter-regional commodity trade within a country can flow freely, the intensity of economic relationships (IER) between regions may affect the level of the regional convergence. This relationship is explored using an extended spatial Durbin model with 1992–2010 prefecture data in China. Two sample cases are conducted for spatial heterogeneity. We find that while the intensity of economic relationships plays little role in regional growth, the spatial lag of the intensity of economic relationships does matter. Further, the positive contribution of IER to regional growth gradually increases over time. In addition, IER has a positive effect on convergence velocity at the prefectural level but a negative effect at the provincial level. The modifiable areal unit problem is addressed with both scale effects (provincial level data are adopted) and zoning effect (two kinds of delineation of the study area); for the latter effect, a case study of Central China with two samples from the central region and the central core region was analyzed using zoning effect tests. Bayesian comparison analysis results support the finding that the data-driven model results are consistent with the theory-driven model. Our conclusions are robust with respect to alternative fixed effects, measurement of intensity of economic relationships, and the choice of the spatial weight matrix, but vary across types of spatial units due to market segmentation. [ABSTRACT FROM AUTHOR]

Population aging has become a social issue of concern to the whole world, and as the world's most populous country, how to cope with population aging will be a hot issue that all sectors of Chinese society must think about. This paper uses provincial panel data from 30 provinces in China from 2000 to 2021 to study the relationship between population aging and economic development based on the perspective of health expenditure. The DIFF-GMM model, the fixed effect model (FE), and fixed effect instrumental variable model (FE-IV) are used to test this study. The following two conclusions are drawn from the empirical study: (1) population aging has a significant inhibitory effect on economic development, while health expenditures have a significant promotional effect on economic development; and (2) increased health expenditures help to alleviate the negative impact of population aging on economic development. However, the deepening of population aging will likewise inhibit the positive effect of health expenditure on economic growth. Based on the conclusions of the study, it is recommended that the government and society should continue to increase spending in the field of health protection, encourage and guide residents to carry out self-care, and moderately increase personal health expenditure, to promote economic development with healthy bodies and realize the goal of "Healthy China". [ABSTRACT FROM AUTHOR]

The unavoidable option for socially sustainable development is a low-carbon economy. One of the essential steps for China to attain high-quality development is reducing carbon emissions. It is necessary to realize low-carbon development in Sichuan, as it is not only an important economic zone but also an ecological protected area. The concurrent relationship among energy consumption, carbon emissions, and economic growth was examined in this study using the Tapio decoupling indicator, and the factors affecting energy consumption and carbon emissions in Sichuan were broken down using the logarithmic mean Divisia indicator (LMDI). The findings demonstrate a fundamental relative decoupling relationship between Sichuan's energy use and carbon emissions. Analysis of energy consumption and carbon emissions in Sichuan Province from 2005 to 2020 shows distinct patterns. From 2005 to 2012, in 2014, and from 2016 to 2020, the relationship between energy use and carbon emissions was relatively decoupled, with decoupling values ranging between 0 and 1. Absolute decoupling occurred in specific years: 2010, from 2013 to 2018, and in 2020. These periods are characterized by economic growth alongside reductions in carbon emissions. Factors affecting energy consumption and carbon emissions were consistently analyzed, showing similar impacts throughout the study periods. We find that population and economic growth are the main driving forces of these effects. The effects of energy intensity and industrial structure mainly play restraining roles, and the latter has a slightly weaker effect than the former. [ABSTRACT FROM AUTHOR]

The digital economy (DE) has become a major breakthrough in promoting industrial upgrading and an important engine for high-quality economic growth. However, most studies have neglected the important driving effect of regional economic and social (RES) development on DE. In this paper, we discuss the mechanism of RES development promoting the development of DE, and establish a demand-driven regional DE development model to express the general idea. With the help of spatial analysis toolbox in ArcGIS software, the spatial development characteristics of DE in the Yangtze River Delta City Cluster (YRDCC) is explored. We find the imbalance of spatial development is very significant in YRDCC, no matter at the provincial level or city level. Quantitative analysis reveals that less than 1% likelihood that the imbalanced or clustered pattern of DE development in YRDCC could be the result of random chance. Geographically weighted regression (GWR) analysis with publicly available dataset of YRDCC indicates RES development significantly promotes the development of DE. [ABSTRACT FROM AUTHOR]

The transformation and upgrading of China's manufacturing industry is supported by smart and green manufacturing, which have great potential to empower the nation's green development. This study examines the impact of the Made in China 2025 industrial policy on urban green economic growth. This study applies the super-slacks-based measure model to measure cities' green economic growth, using the double machine learning model, which overcomes the limitations of the linear setting of traditional causal inference models and maintains estimation accuracy under high-dimensional control variables, to conduct an empirical analysis based on panel data of 281 Chinese cities from 2006 to 2021. The results reveal that the Made in China 2025 strategy significantly drives urban green economic growth, and this finding holds after a series of robustness tests. A mechanism analysis indicates that the Made in China 2025 strategy promotes green economic growth through green technology progress, optimizing energy consumption structure, upgrading industrial structure, and strengthening environmental supervision. In addition, the policy has a stronger driving effect for cities with high manufacturing concentration, industrial intelligence, and digital finance development. This study provides valuable theoretical insights and policy implications for government planning to promote high-quality development through industrial policy. [ABSTRACT FROM AUTHOR]

The study focuses on the energy consumption (EC) and environmental pollution caused by carbon consumption in China's development. The Yangtze River Delta (YRD) region is selected as the primary focus of investigation. To gain insight into the relationship between China's economic growth (EG) and carbon reduction (CR), two major research elements, the impact of each on the other is examined. The study mainly uses decoupling models and influence models to analyze the decoupling relationship and effectiveness between CR and EG. The research results showed that there was a difference between long-term and short-term effects. The short-term effect in the YRD region was manifested as a continuously improving decoupling state, while the long-term effect was manifested as the significant impact of population and per capita Gross Domestic Product on CR. The effect value of EC factor was 0.43, while the effect value of CR factor was 0.07. In functional comparison, the role of EC factors was more significant. [ABSTRACT FROM AUTHOR]

Water scarcity has significantly hampered China's economic, social, and environmental development. Ensuring sustainable water utilization is crucial given the mounting water stress accompanying continuous economic growth. A quantitative water resource forewarning model was constructed using the vector autoregressive (VAR) model. By analyzing the key indicators related to water systems and GDP data from 2001 to 2022, the VAR model revealed the long-term dynamic correlation between water consumption and economic growth using generalized impulse response, co-integration, and predictive variance decomposition analyses. The results revealed the presence of a long-term equilibrium between water consumption and economic growth, with a stable co-integration relationship and an optimal lag period of one year. The positive impact of water consumption on economic development increased during the 2001–2022 period, indicating a rising dependence of GDP on water resources. Water usage rose with economic development, while the water resource carrying capacity remained high and continued to grow. Based on the generalized impulse response, co-integration, and predictive variance decomposition analyses, this study predicted water-use-related indicators, providing vital early warnings for China's water environment carrying capacity from 2023 to 2050. This enabled informed decision-making and fostered sustainable water management practices for the future. [ABSTRACT FROM AUTHOR]

The rapid economic development leads to excessive consumption of fossil energy, resulting in a large number of carbon emissions, which makes the sustainable development of China's economy and society face great challenges. Under the background of global warming and environmental deterioration, developing low-carbon economy has become an inevitable choice for China to change its development model and improve its international competitiveness. Technological progress is the first driving force to promote economic growth. However, the influence degree and mechanism of technological progress on the development of low-carbon economy are still unclear. Based on this, the paper proposes the concept of low-carbon GDP, which is used to measure the low-carbon economic development of 30 Chinese provinces. Then, the panel fixed effect model is used to study the effect degree and mechanism of technological progress on low-carbon GDP and the moderating effect of other factors on the relationship between them. The results show that, first, economically developed provinces and regions have higher per capita low-carbon GDP and low-carbon GDP index, but the speed and quality of low-carbon economic development are not necessarily higher. Second, technological progress can promote the growth of low-carbon GDP and make greater contributions to resources-poor regions. Third, improving local education can make technological progress more effective in low-carbon economic development. China needs to upgrade technological development by developing new and high-tech technologies, promoting new urbanization and strengthening education in order to promote low-carbon economic development. [ABSTRACT FROM AUTHOR]

In recent years, as China experiences economic expansion and its corporations become more global, it has notably become a central hub for cross-border mergers and acquisitions (M&A) on the world stage. The Chinese government, in tandem, leverages these international M&A operations to drive industrial transformation and progress in technology. This research investigates the role of China's industrial policies in shaping cross-border M&A activities by examining recent instances. Findings indicate that relaxing financial barriers and applying specific industrial tactics bolster companies' abilities to secure funding, consequently energizing cross-border M&A initiatives. Several firms in these international mergers and acquisitions are intricately connected to political strategies, markedly affecting the formulation of industrial policies. This assertion is corroborated through the analysis of relevant statistical evidence. The study methodically collects and scrutinizes data to quantitatively depict the current landscape and influencing elements of cross-border M&A, thus providing concrete evidence for policy and business strategy formulation. [ABSTRACT FROM AUTHOR]

China is currently proposing to build the world's biggest national park system, but the country's existing natural conservation is easily affected by population growth and economic pressures. The Huangshan National Park construction area holds great ecological significance and is one of 49 national parks to be established in China. It locates in the Yangtze River Delta region, where the conflict between people and land is intense. Based on this, this paper quantifies the species richness, ecosystem services, and landscape diversity values, counts the index of human activity intensity, calculates the protection advantage and irreplaceability values of each planning unit, and completes the boundary delineation of the Huangshan National Park construction area through the analysis of marginal benefits. Finally, this study delineates the boundary of Huangshan National Park with a 37% protection ratio, which is primarily located in the central and southern regions of the research area, covering an area of approximately 9498.41 km2. This study develops a scientific boundary delineation solution for the Huangshan National Park construction area, which provides a reference for the spatial management and control of Huangshan National Park and a theoretical foundation for the boundary delineation of Chinese potential national parks in the future. [ABSTRACT FROM AUTHOR]

Fragile ecosystems that are affected by erosion from high pollution environmental loads pose a serious threat to human health and well-being. The evaluation of regional environmental loads has become a major issue for eco-environmental conservation and management. As a key region in central China, Hubei Province relies on ecosystems and the environment, which offer an important foundation for sustainable development and continuous improvements in social productivity. For this study, seven influencing factors were selected, and a correlation degree model was applied to assess Hubei Province's environmental loads during the period from 1995-2019. The results show that the overall environmental loads exhibit a fluctuating decreasing trend in response to economic growth and development actions. Moreover, as eco-environmental pollution problems have been addressed and improved over time, the ecosystem operating status has been gradually optimized. Finally, the paper concludes with a proposal of specific measures designed to mitigate Hubei Province's ecological loading from the perspectives of industrial structure, public awareness and technological innovation. [ABSTRACT FROM AUTHOR]

Many regions or countries seek to transition to a low-carbon economy, but there is ambiguity about how carbon emissions change with economic growth. This paper captures characteristics of carbon emissions in China using the Tapio Method. To detect driving factors of carbon emissions in economic growth, we adopt the Log-Mean Divisia Index decomposition method. The results of the paper are as follows: (1) Economic growth in most regions of China has outpaced the growth rate of carbon emissions, showing the characteristics of decoupling. (2) Metropolitan cities have a greater impact on the level of decoupling in neighboring provinces and municipalities. (3) The decoupling of carbon emissions from economic growth is caused by declining energy intensity in China. (4) The energy mix and industrial structure have little impact on the growth rate of carbon emissions. In addition, some policy implications are summarized according to the findings of this paper. [ABSTRACT FROM AUTHOR]