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Original Research Article

by Yitong Niu
97 Views, 0 PDF Downloads
With people paying more and more attention to energy, low-carbon and environment-friendly lifestyle has become the main direction pursued by modern people. With the continuous improvement of people's quality of life, the demand for automobiles is growing,Combined with people's emphasis on energy conservation, developing new energy automobile industry is the necessary trend of modern economic and social development. At present, the development of China's new energy automobile industry is still in the primary stage, and it will face many problems, such as the related technologies of new energy automobile, which need to be further improved, and there is still a certain lack of capital investment in the new energy automobile industry,All these problems need to be further optimized and adjusted by enterprises and the government according to the actual situation. This article will mainly take this as the topic and discuss the related contents.
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Original Research Article

by Huiteng Huang, Yumeng Xue
49 Views, 0 PDF Downloads
The article uses the data of A-share listed companies in China's Shanghai and Shenzhen stock exchanges from 2007 to 2017 to analyze the internal mechanism of economic policy uncertainty, corporate financialization and corporate innovation, and empirically studies the impact of corporate financialization on economic policy The mediating effect in the relationship between certainty and enterprise innovation. The results show that economic policy uncertainty effectively promotes corporate innovation, and corporate financialization plays a significant mediating effect in the promotion of economic policy uncertainty to corporate innovation. The results of a regulated mediating effect model further show that the mediating effect There are heterogeneous characteristics among enterprises of different sizes, different ownership properties and different enterprise growth.
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Original Research Article

by Qianlan Huang, Yuzhao Gao, Xingluo Zhu
48 Views, 0 PDF Downloads
Based on the time series data from 2001 to 2016, this paper studies the impact of rising housing prices on real economy investment and several internal economic mechanisms by establishing an intermediary effect model. The results show that (1) Real estate growth is not necessarily beneficial to the growth of the real economy, and excessively high housing prices will hinder the development of the real economy. (2) Rising housing prices will affect entity investment through a partial mediating effect of company profits. (3) Stabilizing housing prices and improving the profitability of real estate companies are of great significance for ensuring the healthy development of my country's real estate industry and guiding the economy from virtual to reality.
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Original Research Article

by Feiyang Lv, Qifeng Ma, Yangjianxin Zhou, Yifei Li
48 Views, 0 PDF Downloads
This article selects 22 years of data from 1998 to 2019 in my country to conduct stability test, co-integration test, Granger causality test and error correction model analysis on fiscal education expenditure, economic growth, and fixed asset investment. The relationship between my country's fiscal education expenditure and economic growth. The results found that there is a long-term equilibrium relationship between fiscal education expenditure, economic growth and fixed asset investment. Economic growth and fixed asset investment growth are the Granger reasons for the changes in fiscal education expenditure. The impact of economic growth on fiscal education expenditure has a higher contribution rate in the later period. Although financial education expenditure can promote economic growth, its impact on economic growth is lagging behind.
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Original Research Article

by Ruiqian Sun, Zihui Chen
56 Views, 0 PDF Downloads
This paper selects the data of high-tech enterprises on the ChiNext from 2014 to 2016, and comprehensively analyzes the relationship between financial subsidies, tax incentives, R&D investment and innovation performance. The results show that: financial subsidies have a positive incentive effect on R&D investment and innovation performance; tax incentives are a negative hindrance to R&D investment and innovation performance; R&D investment has a significant positive effect on enterprise innovation performance. The use of the stepwise test method and the Bootstrap method to test the intermediary effect of R&D investment shows that research investment has a complete intermediary effect between tax incentives and innovation performance; there is an intermediary effect between financial subsidies and corporate innovation performance, but complete intermediation or partial intermediation has not Can reach agreement.
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Original Research Article

by Jinqin Jiang, Jiaqi Tang, Linjin Lu
55 Views, 0 PDF Downloads
In 2014, the people's Bank of China set up a digital RMB research group. After six years of research and experiment, it finally ushered in the test stage of closed pilot project, which is expected to be popularized in the near future. Digital RMB is a legal digital currency developed by the people's Bank of China. As a new legal currency, it is expected to compete with Libra. by its advantages of low cost and high efficiency This paper summarizes the current research on digital RMB, discusses the background, characteristics, positioning and relationship with commercial banks based on block chain technology, analyzes the current application of big data and artificial intelligence from the level of digital finance, and puts forward relevant policies for reference to provide new ideas for the development of digital currency.
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Original Research Article

by Jie Chen
46 Views, 0 PDF Downloads
To establish statistical model of measurement, this paper analyses the five major domestic economic data whether impact on domestic credit amount, for the purpose of the data cointegration test to eliminate the spurious regression result in error, and through the OLS regression estimate and error correction model is established for dynamic balance of feedback in the short term, then use VAR impulse response function to feedback the long-term dynamic equilibrium, the last three parameters exponential smoothing model is set up to predict the future scale of the credit. According to the conclusion, the total domestic credit scale is a series with cycle fluctuation, seasonal effect and long-term trend. Domestic money supply and domestic fiscal revenue are the main factors affecting the scale of domestic credit. In other words, the fluctuation of domestic credit model tends to return to the normal level, which is balanced and restricted by the medium and long term stable co-integration relationship of the model. To absorb the impact of domestic fiscal revenue or an increase in the domestic money supply, banks adjust for changes in the size of credit, and then show little change. In the short term, the two variables significantly affect the credit scale, but the long-term impact is not significant. Under the condition of constant economic environment, it will still show a steady rise in the future, and the trend of annual cycle is increasing month by month.
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Original Research Article

by Kejia Li, Yirong Li, Wenbo Liu, Yuancai Wei
53 Views, 0 PDF Downloads
Although government procurement is used as a demand-side innovation policy tool in many countries, how government procurement affects corporate technological innovation is still controversial, and its mechanism has not been empirically tested. The research in this paper finds that, from the perspective of enterprises, government procurement should be measured from the scale of government procurement contracts obtained by enterprises and the degree of support from government purchasers. The scale of procurement contracts obtained by enterprises and the degree of support obtained by enterprises from purchasers have an impact on the input and output of enterprise technological innovation. It has a significant positive role in promoting, and technological innovation investment plays an intermediary role in it.
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Original Research Article

by Jundong Chen, Biao Zhong
78 Views, 0 PDF Downloads
Financialization of non-financial companies, referring to investing more on financial assets instead of main business, is a noticeable trend among Chinese listed companies, especially in recent years. Based on the annual panel data of Chinese A-share non-financial listed companies on the Shanghai Stock Exchange and the Shenzhen Stock Exchange from 2014 to 2019, this article analyzes the relationship between financialization and the growth of main business. Results suggest that financialization of non-financial companies has a “crowding-out effect” on industrial reinvestment, and state-owned enterprises, compared with private listed companies, are less likely to be affected by the increase of financial assets.
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Original Research Article

by Jiasheng Zhu, Chenxiao Yan, Zirui Shao, Yao Guo
45 Views, 0 PDF Downloads
Although the level of China's financial industry has developed rapidly, but the domestic problem of urban-rural development imbalance is becoming more and more serious, which has formed a serious obstacle to the development and progress of social economy. In order to explore the relationship between the level of China’s financial development capacity and the income gap between urban and rural residents, this paper surveys relevant data from 30 provinces, municipalities and regions in a total of 17 years from 2002 to 2018, and introduces the income gap between urban and rural residents, the scale of financial development, and efficiency. Established a PVAR model based on related variables such as financial development structure, and then conducted co-integration test, Granger causality test, GMM estimation, impulse response and variance decomposition. The empirical results show that there is a long-term equilibrium relationship between various variables, and the urban-rural income gap It is the Granger reason for the scale of financial development, but there is no reverse causality. Through dynamic analysis, it is found that the urban-rural income gap is mainly affected by its own reasons. The scale of financial development can narrow the urban-rural income gap to a certain extent, and the efficiency of financial development is to a certain extent. Will widen the income gap between urban and rural areas, and the explanatory effect of the financial development structure can be ignored.
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Original Research Article

by Jiangfeng Chen, Yuzhou Yang
47 Views, 0 PDF Downloads
Since 2005, FSSC has been expanding at an annual rate of more than 25% worldwide and has formed an emerging market of more than $2 billion. Therefore, it is of great practical significance to explore the enlightenment of enterprise FSSC construction. Through literature reading and in-depth study of ZTE FSSC, this paper summarizes its characteristic solutions in the construction process, integration of industry, finance and taxation, talent strategy, management system, and other aspects. It draws crucial enlightenment with technology application and human resource management as important starting points.
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Original Research Article

by Yi Sheng
67 Views, 0 PDF Downloads
Since the reform and opening up, China 's private enterprises have achieved unprecedented rapid development. However, with the expansion of enterprise scale, it is also facing a severe test. Therefore, the financing of private enterprises in this situation is worth exploring. This paper first analyzes the financing status of private enterprises in Zhejiang, and on the basis of the financing status, puts forward countermeasures and suggestions for the causes of financing bottlenecks in China on the basis of the financing status.
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Original Research Article

by Wanting Xie
47 Views, 0 PDF Downloads
This paper takes China's A-share listed companies on Shanghai and Shenzhen stock exchanges in 2019 as samples. Through understanding the capital structure, analyzing the actual cases of capital structure and enterprise performance, and studying the indicators of enterprise performance, we can obtain the relative comprehensive indicators of enterprise performance, so as to find out the correlation between enterprise performance and its asset-liability ratio.
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Original Research Article

by Chenghan Li
51 Views, 0 PDF Downloads
This study analyses ARIMA Model and Holt-Winters Smoothing. In this report, the GDP of Australia is taken as an example to illustrate the differences between these two models and to decide which model could show a better performance in term of forecasting. RMSE (Root Mean Square Error) is used as an indicator to compare the forecasting results of ARIMA Model and Holt-Winters Smoothing. After analysing, Holt-Winters Smoothing is found that could provide a more accurate result. This report provides people with basic ideas that how to use basic forecasting techniques to explore the future trends of some economic indicators.
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Original Research Article

by Sung-Baig Choi
38 Views, 0 PDF Downloads
According to the credit-rating agency in Japan, Tokyo Shoko Research, the sales of 27 affiliates of Mitsubishi Group amount to 410 trillion yen, and the number of related companies is as large as 40,000. This is comparable to the total number of companies in Singapore or Finland. The total sales of companies in Japan amount to 1,625 trillion yen, among which, the 3 major groups (Mitsubishi, Mitsui, Sumitomo) account for 60 percent (961 trillion yen). This implies that a number of companies in Japan deal with these 3 major groups in whatever form it may be. Business groups in Japan have taken lead of the economic growth of Japan as strong stockholders that maintain close unity and mutual cooperation. Recently, however, their unity seems to be weakened, which is expected to affect Japanese companies’ competitiveness in any form.
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Original Research Article

by Cong Li, Zhiming Liu, Ying Ma, Lulu Zhang
37 Views, 0 PDF Downloads
This article uses the 2012-2017 GEM listed companies as a sample, and uses a multiple linear regression model to group regressions of companies with different technical levels and different organizational forms, and discusses the adjustment effect of corporate technology level and organizational form on financial subsidies and R&D investment. The empirical test shows that financial subsidies have a significant role in promoting R&D expenditure of enterprises, and their role in stimulating R&D expenditure of non-high-tech enterprises is more obvious than high-tech enterprises, and the role of promoting R&D expenditure of non-state-owned enterprises is higher than state-owned enterprises.
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Original Research Article

by Ya Wang, Tiantian Huang, Han Chen, Siyu Liu
37 Views, 0 PDF Downloads
This article takes China’s A-share listed companies from 2004 to 2019 as a research sample to examine the impact of macroeconomic fluctuations on the operating debt behavior of listed companies and the relationship between corporate operating debt decision-making and corporate value under the background of macroeconomic fluctuations. The results find that: During the economic downturn, companies use operating liabilities more actively during the economic downturn, and operating liabilities have a stronger effect on the promotion of corporate value; during economic downturns, companies with stronger residual operating debt capacity have higher corporate value. This paper has enriched the empirical evidence of the relationship between macroeconomic fluctuations and micro-firm financial behavior, and has certain enlightenment significance for company managers to grasp the law of macroeconomic development and make scientific and reasonable debt decisions.
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Original Research Article

by Mingke Duan, Xia Gao
56 Views, 0 PDF Downloads
In the past 40 years of Reform and opening up, with the rapid development of China’s economy and the effective implementation of the government’s poverty alleviation policy, all impoverished counties have been lifted out of poverty by the end of 2020. As an important means of adjusting income gap, the government’s fiscal transfer payment has the potential effect of reducing poverty. Based on the panel data of 29 provinces from 2007 to 2018, this paper uses Pooled OLS regression and GMM analysis methods to study the poverty reduction effect of fiscal transfer payment on rural areas. The results show that the increase of fiscal transfer payment has a significant impact on the reduction of rural poverty in China.
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Original Research Article

by Xiulin Xu, Huan Liu, Lihong Yang
55 Views, 0 PDF Downloads
Public investment is an important means of promoting stable economic development, quelling economic fluctuations, and the government’s macro-control. However, in the process of my country’s continuous deepening of reforms, public investment has exposed problems such as waste of resources, corruption, and policy incoherence. The performance level of public investment is relatively low. Based on the perspective of performance auditing, this article discusses the key points of public investment performance auditing, the institutional issues of public investment and the path of influence on public investment. Finally, this article puts forward policy opinions on improving public investment performance through public investment performance auditing.
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Original Research Article

by Yixuan Yan
88 Views, 0 PDF Downloads
A report of the 19th National Congress of Communist Party of China (2017) stated that the core of innovation-driven development is technological innovation. For finding future economic development strategies in China, based on national time-series data from 2000 to 2019, this study mainly focuses on how technological innovation input affects economic growth. A multiple linear regression model was constructed; the results showed that both research and development (R&D) fund input and personnel input play a positive role in influencing economic growth in China, and the impact of R&D expenditure is more significant than that of R&D personnel. On this basis, we found the long-term stationary equilibrium relationship between technological innovation input and economic growth by applying the unit root test and cointegration analysis. Finally, two-stage least square specification was used to eliminate issues caused by endogeneity. Based on the above conclusions, the paper proposed policy suggestions for economic growth.
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Original Research Article

by Xiaoyu Du
225 Views, 0 PDF Downloads
With the development of world economic globalization, China has been deeply integrated into the global economy. At the same time, with the increasing improvement of China's world economic level, the environmental problems caused by economic development are becoming more and more serious, followed by a new type of non-tariff trade barriers, that is, the formation of green trade barriers. At this stage, the serious impact of green trade barriers on China's foreign trade has greatly restricted the development of China's foreign trade. This paper briefly introduces the rise, performance and causes of green trade barriers, mainly introduces the impact of green trade barriers on China's foreign trade, and expounds the countermeasures to actively deal with green trade barriers.
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Original Research Article

by Yi Shen
77 Views, 0 PDF Downloads
In recent years, with the deepening of the concept of Internet +, "artificial intelligence", "big data" and other technologies are profoundly affecting the business management and financial management mode of enterprises. How to make good use of "Internet +" technology to realize the integration of business and finance is the future trend of enterprise development under the background of Internet +. Based on the understanding of the influence of Internet + on the integration of business and finance, this paper analyzes the problems existing in the integration of business and finance under the background of Internet +, and proposes that enterprises should realize the close integration of business and finance through the transformation to management accounting, the establishment of a shared database, and the training of professionals in the integration of business and finance.
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Original Research Article

by Pengyun Wang, Yingdai Guan, Weixin Zhang
55 Views, 0 PDF Downloads
At the beginning of 1970s,Fischer Black and Myron Scholes have made the unprecedented work in the domain of the option pricing theory,and proposed the first complete option pricing model,which named the Black—Scholes pricing formula . It has been accepted by the theoretical and industrial world for its wide application,and becomes the secondary great revolution in the financial domain. However,in the actual financial market,a mass of finance practice has indicated that there is a serious warps between the hypothesis of Black-Scholes model and the actual markets. This dissertation introduces the option elementary knowledge briefly,and then carries out a specific study on the the history of option pricing theory as well as factors that influence option price.
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Original Research Article

by Lingyan Meng
40 Views, 0 PDF Downloads
Human resource management is a very important part of modern corporate management. With the strengthening of globalization and in the context of the new economic era, corresponding reforms and innovations are necessary for human resource management, so that enterprises can constantly improve their comprehensive competitiveness and occupy a favorable position in the market. This article mainly analyzes the content of human resource management in the new economic era, aiming at further improving the human resource management level of modern enterprises to adapt to the development needs of China.
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Original Research Article

by Jiejie Fan
96 Views, 0 PDF Downloads
In the context of financial innovation, new financial products emerge one after another. For commercial banks, their risk management coefficient increases. How to evaluate the risk of new products, establish the corresponding system, upgrade the relevant technology and introduce the corresponding policies have become the top issues for commercial banks. In order to solve this big problem, commercial banks and government agencies can cooperate with each other to make use of popular big data systems to visualize risk management, together with the training and input of talents, and the introduction and implementation of government policies, commercial banks' risk management will be further promoted. The compensation measures in the electronic measurement system are also discussed in this paper.
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Original Research Article

by Hanjing Lou
39 Views, 0 PDF Downloads
With the continuous development of economic globalization, in order to meet the different needs of enterprises in production and operation, the scale of multinational companies is also increasing, and has played a certain role in economic development. The ultimate goal of an enterprise is to maximize profits, and in order to achieve this goal, multinational enterprises usually use transfer pricing to operate. Transfer pricing has both advantages and disadvantages. Although it can help enterprises reduce tax burden, it will also produce tax-related risks, and even affect the economic development of regions or countries. In view of this situation, through the analysis of the tax risks involved in the transfer pricing of multinational enterprises, some corresponding countermeasures are put forward.
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Original Research Article

by Mengmeng Wang, Yingjia Duan, Yujun Hu
42 Views, 0 PDF Downloads
The development of the Huaihe River Eco-economic Belt has been upgraded to a national strategy to provide new opportunities for the rapid economic development of the Huai River Basin. Taking the Huai River Ecological Economic Belt as the research object, this article aims to analyze the regional pattern change of tourism economic development from 2006 to 2018 from the perspective of the gradient of tourism economic development level, absolute difference (extreme deviation, standard deviation) and relative difference (extreme ratio, coefficient of variation). The results show that, from the perspective of time, the differentiation of tourism economy in the Huaihe Economic Belt fluctuates and shrinks with the passage of time; from the perspective of space, the eastern region is a developed tourism region while the central and western regions are less developed. On the whole, the development of tourism in the Huai River Eco-economic Belt is uneven and the polarization phenomenon is more prominent, but the relative difference tends to shrink and the situation has improved greatly.
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Original Research Article

by Jie Dong, yang Li, Hui-na Wei
39 Views, 0 PDF Downloads
At present, oximetry is an important indicator for monitoring patients. How to build a model to describe the model of oxygen saturation and apply it in medical practice has attracted widespread attention in the world. This article first used the DFA algorithm to detrend the original data. Then the sample entropy is calculated separately from the singular and plural scales. The mean value, variance of oximetry, regression parameters, single-scale sample permutation entropy, and multi-scale sample permutation entropy are used as the characteristic value of the typical model of oximetry. Finally, we used fuzzy clustering and Spearman's rank correlation coefficient and Kendall tau rank correlation coefficient, and then concluded that the overall oximetry content of the elderly is decreased, the stability is weak, and the regularization is not strong.
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Original Research Article

by Shiqi Liu, Qidan Jiang, Huiqing Li
42 Views, 0 PDF Downloads
This paper uses the data of per capita cultural consumption and per capita disposable income of urban and rural residents from 2000 to 2020 to study the marginal tendency of cultural consumption of urban and rural residents in my country through the dummy variable model. Empirical research shows that both urban and rural residents' cultural consumption and income show a significant positive correlation. By comparison, it can be found that the rural residents in China are significantly backward than urban residents in such respects as total cultural consumption volume, proportion of cultural consumption in their incomes, and the consumption ability related to cultural marginal propensity. Therefore, when formulating corresponding policies, it is particularly necessary to formulate appropriate policies to promote the development of rural cultural undertakings in accordance with the actual conditions in rural areas of China.
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