International Journal of Chinese Culture and Management (9 papers in press)
Chinas economic growth and macroeconomic policy options during the COVID-19 pandemic
by Zhifang Liu, Yuguo Tang
Abstract: The continued spread of the COVID-19 has aroused widespread public concern and worries about the world economy. As a stabiliser and power source for global economic growth, Chinas economic growth is driving global economic development. First, this article conducts a retrospective analysis of Chinas economic growth in the past two decades and finds that the impact of external factors such as the SARS epidemic and the Wenchuan earthquake on Chinas economic growth is temporary. Secondly, this article elaborates on the expansionary fiscal policy and moderately loose monetary policy implemented by the Chinese Government in the context of the pandemic, and it analyses the effectiveness and applicability of macroeconomic policies. Thirdly, this article connects with Western macroeconomic theory and external imbalance theory to make further analysis of the current macroeconomic policy.
Keywords: COVID-19 pandemic; economic growth; fiscal policy; monetary policy.
Motivations behind P2P energy trading: a machine learning approach
by Shan Shan, Yulei Li, Honglei Li
Abstract: Peer to peer (P2P) energy trading as an emerging project of collaborative consumption has attracted interests and attention from recent research. Previous research has paid attention to business models, operation process, but neglected the motivations behind the mechanism of P2P energy trading. At the same time, how to design a peer to peer energy trading platform with selected features thus becomes vital in facilitating user trading experience. This study will use the natural language processing (NLP) method to assess characteristics that influence P2P energy trading. Notably, the data in this study will be collected from Twitter and reviews of Vandebron by using the latent Dirichlet process (LDA) model with Python.
Keywords: P2P energy trading; collaborative consumption; motivations; natural language processing; NLP; latent Dirichlet process; LDA; customer reviews.
What are the impetuses behind e-health applications self-management services ongoing adoption by health community participants?
by Jin Guo, Shan Shan
Abstract: Customers and companies can derive considerable value from exploring e-Health applications health self-management services. Accordingly, estimating such services ongoing adoption by customers is aimed for in this research, with habits, intrinsic and extrinsic variables incorporated into a study model which is then tested. Two hundred seventy three individuals who have used Chinese health self-management applications comprised the data collection sample, being reached via an online questionnaire. Data analysis was undertaken using partial least squares structural equation modelling (PLS-SEM). It was found that the ongoing adoption of health self-management services was perpetuated to a greater extent by intrinsic variables; in terms of strategising for companies e-services, the results can inform this process.
Keywords: health self-management; e-health applications; SDT; extrinsic factors; intrinsic factors; habit.
Research on the China's performance of public expenditure from the perspective of budget balance
by Zhenyang Wang, Kai Wang
Abstract: Based on the panel data of 31 provincial administrative regions in China from 2006 to 2015, this paper uses factor analysis and DEA-Malmquist efficiency evaluation method to design seven result-oriented public expenditure performance index systems in different fields of public finance, and then establishes the generalised method of moments (GMM) with the budget balance measurement indicators of different cycle lengths, so as to empirically test and analyse the impact of annual, cross-annual and multi-year budget balance on the change of public expenditure performance index. The results show that: 1) on the whole, the multi-year budget balance plays a significant role in promoting the performance of public expenditure; 2) specifically, in more developed regions, the effect of using annual budget balance is more obvious; 3) in less developed regions, the use of cross-year budget balance
mechanism is more conducive to the performance of public expenditure to improve.
Keywords: budget balance; public expenditure; expenditure performance; medium-term fiscal planning; DEA-Malmquist; data envelopment analysis; DEA; generalised method of moments; GMM; factor analysis; China.
Has the innovation present situation of Chinese enterprises been improved: an analysis based on the status, problems and solution
by Chao Sun, Jinjing Zhang
Abstract: Innovation is the core of national competitiveness and the leading driving force for economic and social development. With the deepening of the Made in China 2025, the innovation ability of Chinese enterprises has been greatly improved. We analyse the internal factors and external factors that affect the innovation ability of Chinese enterprises. Using five indicators, such as the number of research institutions, the expenditure of new product development, the sales revenue of new products, the number of patent applications, and the number of invention patents, we analyse the innovation ability and innovation characteristics of Chinese enterprises. Furthermore, we compare and analyse the differences of enterprise innovation ability in different industries and under different ownership systems, and elaborate the problems of Chinese enterprise innovation, so as to put forward some suggestions on making innovation plan and improving innovation ability of Chinese enterprises.
Keywords: enterprise innovation ability; evaluation indicator of innovation ability; enterprise innovation system.
Special Issue on: 12th and 31st Chinese Economic Association Annual Conferences E-Commerce Innovation in Technologies and Business Models in China
Analysis of the influence of tax structure on urban innovation: based on panel data analysis of 31 provinces in China
by Peng Jiang, Jinjing Zhang
Abstract: Innovation is the first power to lead Chinas development, and the promotion of urban innovation is an important support to strengthen the core competitiveness of cities and build a modern economic system. Using panel data of 31 provinces in China during 2005-2016 period, we establish a random effect model to analysis the effects of tax structure on urban innovation. We find that the increase in the proportion of indirect tax revenue to total tax revenue will significantly inhibit urban innovation, and the increase in the proportion of direct tax revenue to total tax revenue will significantly promote urban innovation. Accordingly, in order to improve the urban innovation, it is advisable to further optimise the tax structure, expand the scale of individual income tax revenue, promote the legislation of real estate tax, and gradually narrow the revenue gap between indirect tax and direct tax in China.
Keywords: tax structure; urban innovation; indirect tax; direct tax; China.
Studies on venture capital mechanism with creative industry
by Kang Yun
Abstract: The institutional arrangement of venture capital is suitable for the risk characteristics of creative industry. However, due to the characteristics of creative industry, the integration of creative industries and venture capital in China is still in the primary stage, and the development mode is not perfect. Some suggestions are put forward in this paper in view of the main problems of venture capital entering creative industry in China. The first is to speed up the marketisation process of creative industry; the second is to improve the intangible assets evaluation mechanism that adapts to the development characteristics of creative industries; the third is to establish a guarantee mechanism for creative industries; the fourth is to improve the investment and financing system of creative industries; and the last is to give preferential policies to venture capital companies investing in creative industries.
Keywords: venture capital; creative industry.
Study on the development of blockchain industry in China
by Kang Yun
Abstract: As a new and high-tech after AI, blockchain technology has been widely recognised for its great value and application potential. Compared with developed countries, China has the advantages of rich application scenarios, good technology foundation, support of domestic market and relatively inclusive policy environment in the field of blockchain. However, there is still a gap in the original innovation ability, core technologies, rules and standards, quality and supply of talents, etc. Therefore, the following Suggestions are put forward: First, we should make independent innovation and make breakthroughs in core technologies. Second, integrated development of blockchain technology and real economy should be focused on. Third, strengthen supervision and guide the healthy development of the industry. Fourth, cultivate talents and solve the pain points of industry development. Fifth, we need to improve standards and enhance our international voice and rule-making power. Finally, balance interests and promote the implementation of industrial reform.
Keywords: blockchain; industry; integrated application; China.
Special Issue on: Holistic Evaluation and Management of Urban Systems Before, During and After Major Emergencies
An analysis of the impacts of the COVID-19 on Chinas energy transition into a green economy: challenges and outlooks
by Zhen Wang, Cen Zhang, Chen Chen
Abstract: Owing to the economic reform and opening-up policy, China has seen a continued economic boom since late 1970s. It has now become the worlds largest energy producer and consumer. In addition, China is also a frontrunner in energy transition investments over the last decade with a total investment of over $1.2 trillion equal to that of USA, Germany and Japan combined. Despite the outbreak of the COVID-19 pandemic and the subsequent unprecedented turbulence on the global energy market, the trajectory of Chinas energy transition is not diverted but rather accelerated into a green economy according to our research. The paper reviews Chinas energy development and illustrates the influences of the pandemic on its energy transition. To reach carbon neutrality by 2060, four paths are proposed which include utilising fossil energy in a cleaner way, deploying renewables in large scale, diversifying the energy mix, and pushing forward end-use electrification.
Keywords: China; carbon neutrality; energy transition; emissions; energy mix; development.