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Traditional financial basis, knowledge threshold and digital finance for farmers

GUO Feng;WANG Yaopei

Journal of Finance and Economics,2020,Vol 46,No. 01

【Abstract】 This study examines the current relationship between digital finance and traditional finance by using micro survey data. Because of various reasons, there are many blank areas and groups in traditional financial services, especially in remote rural areas. Therefore, the emergent digital finance is expected to fill the blank, and serve the areas and groups that traditional finance has yet served. Meanwhile, expanding business in rural areas has indeed become an important strategy for some Internet finance companies. However, we must clearly realize that the application of new digital financial technology, which is a combination of Internet technology and financial business, needs basic financial knowledge and Internet skills. Without basic financial knowledge and Internet skills, people may not be able to use digital financial services skillfully and effectively. Therefore, although Internet finance could overcome geographical obstacles and cut the cost in remote rural areas with low population density and economic activity density, from the perspective of the demand side, it is not so easy to enjoy these modern digital financial services. Therefore, examining the relationship between traditional financial basis and farmers’ use of digital finance through scientific empirical analysis will contribute to deepen our understanding of the digital financial pattern. In this study, we use the first hand micro survey data from the Thousand-Village Survey of Shanghai University of Finance and Economics to investigate the influence of traditional financial foundation and family members’ education level on the use of digital finance. Using the special survey data of rural inclusive finance will help us inspect the value of traditional financial basis in influencing rural households to use new digital financial services. We find that the higher the frequency of using traditional finance is, the greater the possibility of using digital financial services will be; and the higher the education level of farmers’ household is, the higher the probability of using digital finance will be. In order to overcome the endogenous problems, we take “the time required for family to reach the bank outlet” and “how many ATMs in the village” as instrumental variables for the family to use traditional financial services, and carry out two-stage least square regression. In addition, in order to more intuitively examine the relationship among traditional finance, family education level and digital finance, we also make a brief analysis of the reasons why farmers do not use digital finance and the willingness of households who do not use Internet finance at present, which also confirm that the lack of financial basis and education is the strongest marginal obstacle affecting the spread of Internet finance. Digital finance also relies on the mass basis laid down by traditional finance. This study is a supplement to the existing literature because when discussing the relationship between Internet finance and traditional finance, the existing literature can only start from the macro and policy perspective, lacking the micro basis. From the perspective of policy reference value, it is also of great practical significance for us to understand the practical value of the new digital finance and formulate the rural financial policy of digital finance going into the countryside.

The development of digital currency: typical characteristics, evolution, and guidelines for regulation

GUAN Yiming;WU Xuchuan

Financial Economics Research,2020,Vol 35,No. 03

【Abstract】 In recent years, with the application of numerous financial technologies, digital currency has maintained rapid development. Central banks worldwide have been amazed by the progress, and many have started pilot and testing programs for digital currency. It seems inevitable that paper notes will eventually be replaced with digital currency. This study analyzes the effects of digital currency and its trends from the perspectives of the essences of digital currency, the driving forces behind its existence, and its evolutionary path, functioning, channels of influence, and regulation regime. Conclusions in this article suggest that central bank digital currencies (CBDC) are comparable to real currency in terms of monetary functions. The issuance of CBDC would have profound implications for economic growth, financial systems, and monetary policies. Therefore, to actively and prudently promote digital currency experiments, China must build a regulatory framework for digital currency, drive innovation in relevant technologies, and conduct forward-looking research in related theories.

Digital finance and farmers’ entrepreneurship

HE Jing;LI Qinghai

Chinese Rural Economy,2019,No. 01

【Abstract】 This article reveals that digital finance can effectively stimulate farmers’ entrepreneurial enthusiasm and improve entrepreneurial performance. The study divides the impact path into credit constraint mechanism, information constraint mechanism and social trust mechanism. It finds that digital finance not only eases farmers’ credit constraints and improves the information dissemination and acquisition like traditional finance, but also enhances the social trust of farmers through unique social trust channel, ultimately promoting farmers to set up enterprises and enhance their performance. It finds that the impact of digital finance is mainly on non-agricultural entrepreneurship and survival-based entrepreneurship, and the impact on agriculture-related entrepreneurship and development-oriented entrepreneurship is not obvious. It also finds that internet-based digital finance instead of bank-based digital finance has effect on entrepreneurship. Finally, comparing with other farmers, digital finance has a greater impact on those with lower human capital, physical capital and social capital groups, that is, the impact of digital finance is inclusive.

Japan’s digital economy development initiatives focus on connected industries

LIU Ping;SUN Jie

Contemporary Economy of Japan,2019,Vol 38,No. 04

【Abstract】 The rapid development of the digital economy represented by big data, artificial intelligence, block chain, quantum computing and other network information technologies drives the model of society from the information economy society to the digital economy society, thus making the world economic situation change dramatically. In order to develop new advantages in the new round of international competition, Japanese government formulated and released a series of digital economic development initiatives as a national strategy. It proposes to concentrate on all the policy resources that can be invested to develop digital economy which is called the connected industries. It also clarifies five main develop industry sectors, their goals and promotion agencies. The Japanese government quickly passed legislation to ensure that special policy measures are implemented to promote the development of the connected industries, including special taxation systems and investment promotion policies, as well as systems that promote the opening and sharing of government data. In addition, it is planned to start talent cultivation from primary education and to implement effective programming education in all primary schools. The development of the connected industries is seen as a key way for Japanese companies to implement digital transformation, achieve productivity revolution, and thereby enhance Japan’s international competitiveness, and a new symbol after Made in Japan and retrofit innovation.

Spatial spillover effect of digital inclusive finance on farmers’ off-farm income

LIU Dan;FANG Rui;TANG Yingmei

Financial Economics Research,2019,Vol 34,No. 03

【Abstract】 Based on the related data of Chinese China’s 29 provincial-level administrative regions from 2011 to 2015, we used for reference the research findings of the digital inclusive finance index obtained by the research group of the Institute of Digital Finance, Peking University and used a spatial econometric model to empirically investigate the spatial spillover effect of digital inclusive finance on farmers’ off-farm income. The findings are summarized as follows. (1) Digital inclusive finance had a positive spillover effect on farmers’ off-farm income in China’s different provincial-level administrative regions. (2) Digital inclusive finance not only significantly promoted the increase in off-farm income of local farmers, but also had a positive spillover effect on the off-farm income of the farmers in adjacent provincial-level administrative regions. Therefore, it is recommended to further extend the coverage scope of digital inclusive finance, strengthen the innovation in financial products and digital inclusive finance, improve the infrastructure of digital inclusive finance, and promote regional development of digital inclusive finance, thus increasing the off-farm income of farmers.

Research on the modernization of the digital governance system and capacity: principle, framework and component

BAO Jing ;JIA Kai

Cass Journal of Political Science,2019,No. 03

【Abstract】 The rapid progress of information and computing technology and the iterative development of new industries have pushed the evolution of society. As entering the era of digital society, the digital governance system and capacity have become an essential part and natural extension of the national governance system and capacity. While traditional theories pay more attention to the technical impacts of the technological revolution on the production relationship, the modernization of the digital governance system and capacity emphasizes the transformation of the production relationship itself. We should stick to “equal emphasis on development and security” and “overall consideration of both domestic and international situations” as two principles. Based on that, the digital governance system should be built at three levels, namely the technical, behavioral and organizational level, and the digital governance capacity should be composed of three elements respectively.

Digital economy, financial inclusion, and inclusive growth

ZHANG Xun;WAN Guanghua;ZHANG Jiajia;HE Zongyue

Economic Research Journal,2019,Vol 54,No. 08

【Abstract】 The Internet revolution is driving a rapid development of the digital economy and of digital finance in China. Over the past 10 years, traditional financial institutions have improved the channels of access for households and significantly reduced their budget constraints. With the rapid expansion of digital finance, China has seen dramatic improvements in the accessibility and affordability of financial services, particularly for people who were formerly excluded from accessing them. Digital finance has offered low-cost services to hundreds of millions of under-served people, and has thus benefitted financial inclusion and inclusive growth in China. This paper presents an initial attempt to investigate whether access to digital finance generated by the Internet revolution helps to promote inclusive growth in China. We match an index of digital financial inclusion (which measures digital finance development in China) with data from a representative household survey conducted by the China Family Panel Studies (CFPS). The index of digital financial inclusion is the product of a joint project by the Institute of Digital Finance (at Peking University) and Ant Financial, which is one of the largest global fintech enterprises. The index is constructed with user data from Ant Financial, and it shows that China’s financial inclusion has been progressing rapidly with the help of digital finance. This financial inclusion has enabled regions that were lagging behind in their overall levels of economic development to outperform the economically advanced regions. By matching the index of digital financial inclusion with the CFPS data, we find that digital finance has helped to increase rural household income. Thus, digital finance has helped to promote inclusive growth in China. How does the development of digital finance contribute to China’s financial inclusiveness? The main mechanism lies in the contribution of digital finance to entrepreneurship. Previous studies have shown that entrepreneurship is essential for job creation and economic growth. The factors that affect entrepreneurial activity can be generally categorized into micro factors and macro factors. The micro factors are the individual and family characteristics of entrepreneurs, such as their income, gender, age, human capital, social capital, and risk preference. The macro factors are the broader political and economic statuses, or the cultural and social environments in which entrepreneurs are situated. Among these factors affecting entrepreneurship, the availability of funding is the most important element. As entrepreneurs need funds to start their firms, financial constraints tend to significantly reduce people’s ability to become entrepreneurs. Previous studies have shown that financial constraints have a negative impact on entrepreneurship. Therefore, it is widely accepted that financial development can promote entrepreneurial activity by mitigating the liquidity-related constraints on potential entrepreneurs. In this paper, we argue that digital finance makes it easier for households to borrow money, and it significantly reduces the financing barriers faced by innovative residents. In modern China, residents can use mobile phones to pay for most transactions, including shopping in local markets or online platforms (e.g., Alibaba or Taobao), dining in restaurants, or paying utilities bills, even if they do not have credit cards. More importantly, most mobile phone transactions can help people to gain a digital-defined credit record, which facilitates their ability to borrow through fintech channels. In this way, fintech increases the likelihood that households can engage in entrepreneurship activity, especially in the case of formally lagging groups. We also examine how digital finance interacts with both physical capital and social capital in promoting entrepreneurship. We conclude that households with less physical or social capital have benefited more from digital finance. Based on our findings, we suggest three policy options that can further promote inclusive growth with the help of digital finance. First, fintech development should be further promoted, especially in lagging areas such as rural China or West China. Second, special attention should be paid to the development of financial depth and digital service provision, as these features can significantly alleviate financial constraints and promote entrepreneurship. Finally, public spending on education should be maintained, given that fintech is more beneficial for residents with higher levels of education.

Libra: the model and governance of digital currency as an instrument for cross-border payment, clearing and settlement

YANG Dong

Oriental Law,2019,No. 06

【Abstract】 Libra as the digital currency of Facebook, the US social networking company, is actually considered a new cross-border payment instrument. Through the network of validator nodes in different countries and establishment of corresponding virtual accounts, Libra can construct a self-clearing cross-border payment system to evade financial regulation in the corresponding countries. Libra, with its stability mechanism of currency value, has certain advantages compared with the relatively unstable legal tender in some countries, and may result in severe threat to a country’s financial stability and monetary sovereignty. In particular, Libra has also created a competitive impact on the industrial status of non-bank payments in China. In order to cope with the risk of digital currency as cross-border payment and clearing instruments, we should change China’s cross-border payment and governance system of digital currency, adjust the old restrictive model of regulation, relax the channels for digital currency development, build a sandbox-style supervisory mechanism, and promote the development of Regtech.

Social conflicts in the digital age: taxation and welfare behind the yellow vests movement

LIU Tao;WANG Yingqi

Chinese Journal of European Studies,2019,Vol 37,No. 04

【Abstract】 This paper focuses on the yellow vests movement in France and analyzes its development and causes. Social protests and trade union movements had once been an important force in the golden age in driving the establishment of the French welfare state. However, since the 1970s, with the slowdown of economic growth, fiscal austerity, and transformation in social structure, welfare resources have been tightened and social conflicts on distribution become increasingly intensified. As a consequence, the French welfare state is caught in the perpetual imbalance between welfare and finance. At the same time, along with the rise of the anti-establishment force, the welfare confrontation between the elites and the public in the sense of social semantics and social structure has led to repetitive competition between the two groups in the two welfare battlefields of tax increase or tax reduction. All of this constitutes an important social-historical background of the yellow vests movement. Under the pressure of various social centrifugal forces, the reform of the French welfare state has been directionless and forced to delay. It is highly likely that major relevant social reforms and welfare system reforms will be blocked again under the solidified structure of social conflicts.

Measurement method and application of China’s return on digital capital

WANG Chunyun;WANG Yafei

The Journal of Quantitative & Technical Economics,2019,Vol 36,No. 12

【Abstract】 Research objectives: this paper discussed the measurement method of the return on capital, and examined the basic path of improving the return on capital. Research methods: this paper established a measuring framework for the return on capital based on the theory of capital services, and constructed a method for measuring the return on digital capital based on the rental price of capital approach and capital services theory developed by Jorgenson. Research findings: China’s return on capital ranged from 8.06% to 23.67%, and showed a downward trend from 16.02% in 1992 to 8.54% in 2017. China’s capital structure has been further optimized in digital economy. The proportion of capital services of digital capital has increased from 2.38% in 1992 to 6.11% in 2017, which plays a positive role in improving China’s return on capital. The return on capital of the primary and secondary industries is on the downward trend, while that of the tertiary industry is on the upward trend. The return on capital of transportation, warehousing, communications and real estate rental services, which are ICT-producing industries and ICT-using industries, has increased from 12.17% in 1997 to 26.94% in 2007, and dropped slightly to 11.94% in 2017. Research innovations: this paper introduces the theory of capital services into the measurement approach of the return on capital, and quantifies the role of digital capital such as ICT in the return on capital of the whole society and industry. Research value: this paper provides policy reference to further optimize the structure of capital investment and improve the return on capital.

Space expansion and competition mechanism innovation of chain retailers in the age of digital economy

LIU Xiangdong;LIU Yushi;CHEN Chengzhang

China Industrial Economics,2019,No. 05

【Abstract】 The spatial expansion and competition of trading activities are important topics for geography, economics and other disciplines. The rational distribution of retail enterprise plays an important role in the development of urban and rural economy, the allocation of circulation resources, and the satisfaction of consumer demand. For a long time, as a modern circulation mode, franchise management has received sustained attention from both of the industry and the government. However, in recent years, such traditional spatial expansion mode based on store expansion has fallen into a “growth dilemma.” It is subject to the dual constraints of internal mechanism and external environment, and hard to provide continuous driving force for enterprise growth. The reason is that although this kind of extensive growth reduces the spatial resistance in a simple and direct way, it cannot avoid the “Cannibalization Effect.” In the era of digital economy, reconciling this contradiction becomes feasible at the technical level, profoundly affecting the spatial distribution characteristics and evolutionary dynamic mechanism of commercial activities. Nowadays, the Internet-based “e-commerce” has been able to avoid the constraints of physical space by directly blurring the store, and some more cutting-edge retail models which combine online and offline are showing a more prominent advantage in reducing consumer space resistance. Therefore, this paper combines the methods of model deduction and case study to explore the innovative mechanism of space expansion and competition, in order to provide useful suggestions for the transformation of traditional enterprises and the high-quality development of circulation industry.

New mechanism of retail in the internet and digital age based on Marxian economics and case study

XIE Lijuan;ZHUANG Yiqun

Finance & Trade Economics,2019,Vol 40,No. 03

【Abstract】 This article is aimed to explore the essence of retail and its new mechanism in the context of the internet and the digital economy. According to Marxian circulation theory, we pointed out that from the perspective of either social reproduction or commercial capital, in the essence, retail is exerting the function of intermediating supply and demand as a key exchange factor. It is necessary to attach importance to the function of retail in demand identification and production guidance. Retail commercial capital is supposed to ensure greater intermediating efficiency through specialized retail activities. The internet and digital technology are still restricted by the basic law of social reproduction and the limitation of the essence of retail, though the specific intermediating mechanism has changed. With the exploitation of long-tail demand and the transformation of the logic between production and distribution, a flexible production system driven by digitalization is a new mechanism of retail in deeply intermediating supply and demand and an embodiment of a new economic growth momentum led by digital retail. The case study method was further applied to support the above mechanisms.

Digital technology, BOP business model innovation and inclusive market building

XING Xiaoqiang;ZHOU Pinglu;ZHANG Zhu;TANG Xinhui

Management World,2019,Vol 35,No. 12

【Abstract】 Based on the change of information carriers in the era of mobile Internet and the information asymmetry of the BOP group, from the perspective of digital technology and business model innovation and the interaction between the two, this paper mainly discussed the characteristics and mechanisms of how internet enterprises enhance inclusive market building by improving the BOP group’s status in information production and consumption. Through the case studies of two leading enterprises in China’s short video industry and adopting the grounded theory, this paper summarized the construct dimensions and main characteristics of digital technology and business model innovation related to BOP and established a theoretical framework for the collaborative enhancement of inclusive market building by digital technology and BOP business model innovation. This paper found that platform enterprises support the BOP group to produce and consume content mainly by adopting digital content technology and digital connection technology. They then empower the BOP group, enabling them to have equal access to create and share value by “intelligent + artificial” content recommendation, BOP social network expansion, and shared value acquisition and other innovative strategies and methods. In this process, BOP local resource and information are widely disseminated and their market value is activated, the BOP group’s market awareness and abilities are improved, and the inclusive market building is promoted. This paper deepens the research on inclusive innovation in digital economy, and also makes theoretical contributions to BOP entrepreneurship, business model innovation, and information poverty governance.

Analysis on the deepening and expansion of the “American Template” of digital trade rules based on the USMCA

ZHOU Nianli;CHEN Huanqi

Journal of International Trade,2019,No. 09

【Abstract】 The digital trade negotiations under the framework of the United States-Mexico-Canada Agreement (USMCA) are based on the rules of the Trans-Pacific Partnership Agreement (TPP). In addition to directly inheriting some of the provisions in the TPP, USMCA has made a series of upgrades to the digital trade rules in the TPP. The improvement of USMCA compared with the TPP digital trade rules is mainly embodied in the following aspects: extending the non-discriminatory treatment of digital products to broadcast service products; removing the “consideration of the regulatory needs of all parties” in the “free flow of cross-border data” clause; clearly identifying the specific agreements and principles to be followed by parties in terms of “personal information protection”; excluding “regulatory exceptions” and “public safety exceptions” in the non-mandatory data storage localization provisions; and expanding “barring the disclosure of open source” terms to infrastructure software and introducing “encryption protection” provisions; as well as promoting cooperation among parties in various areas such as information technology, cybersecurity, and small- and medium-sized enterprises. In addition, USMCA introduces extension rules that are not covered by the TPP, including “exemption of interactive computer service provider’s liability from third-party infringement” and “government data disclosure” terms. In light of the U.S. position made in USMCA negotiations, this paper predicted that in the post USMCA era of trade negotiations, the digital trade rules of the “American template” will mainly continue to develop and evolve in two aspects: continuing to promote the internationalization of the domestic digital economy in the U.S. and urging parties to open up specific digital service sectors.

Digital trade negotiation and rule competition: a study based on text quantification of regional trade agreements

HAN Jian;CAI Jiwei;XU Yayun

China Industrial Economics,2019,No. 11

【Abstract】 This paper sorted out the multilateral and bilateral digital trade provisions, the American template, the European template and the electronic commerce provisions of China’s trade agreements. Using natural language processing analysis to compare and analyze the heterogeneity of these provisions, this paper had an empirical study on the factors affecting the digital trade provisions by countries. We find that the fragmentation of digital trade provisions under regionalism is serious. Developed countries such as the United States, Singapore, Australia, and Canada often have strong negotiating power and play the role of rule-makers. China’s cross-border e-commerce has a great potential for development and plays an important role in promoting global digital trade governance. The larger the economy is, the greater the economic similarity is, and the closer the bilateral distance is, the more likely it is to sign trade agreements with digital trade provisions. The greater the gap in Internet penetration, national risk and digital trade openness is, the smaller the possibility of signing digital trade terms between large countries is. In addition, the above factors also affect the heterogeneity of digital trade provisions. In the future, the direction of China’s digital trade negotiations should give priority to the countries of the Belt and Road Initiative. In terms of specific provisions, Internet access restrictions, data storage and source code issues should be gradually incorporated. While ensuring data security and gradually increasing the openness of the digital domain, China must also find a balance between digital trade regulation and development.

Impact of Shanghai Disneyland on Shanghai tourist flow network: from the perspective of tourists’ digital footprints on the Lvmama website

YU Haiyan;DAI Zefan;XU Xin;FENG Xuegang

Tourism Tribune,2018,Vol 33,No. 04

【Abstract】 The opening of Shanghai Disneyland placed great expectations on promoting the development of related tourism industries in Shanghai and the Yangtze River Delta region. To understand the impact of Shanghai Disneyland on Shanghai’s tourism industry structure, we explored the changes in Shanghai’s tourist flow network after the opening of Shanghai Disneyland from the perspective of tourists’ digital footprints. First, we collected the ticket purchase and review data for 38 star scenic spots in Shanghai from the website of the Chinese online travel agency, Lvmama. We then constructed Shanghai’s tourist flow network based on the social network analysis method, using scenic spots as the nodes and the frequency of tourist flow between the spots as the edges. To show the impact of the opening of Shanghai Disneyland on Shanghai’s tourist flow network, we compared Shanghai’s tourist flow network before and after the opening using the following network indicators: network central potential, degree centrality, closeness centrality, betweenness centrality, and role analysis. We obtained the following findings: (1) Shanghai Disneyland changed the structure of Shanghai’s tourist flow network. Before Shanghai Disneyland opened, Shanghai Wild Animal Park and Oriental Pearl Tower were the twin cores of Shanghai’s tourist flow network. After Shanghai Disneyland opened, it joined the above attractions in forming the third corner of a core triangle in Shanghai’s tourist flow network. The three spots have close connections between them, especially Shanghai Disneyland and Oriental Pearl Tower. (2) Shanghai Disneyland significantly increased the total number of tourists and simultaneously centralized Shanghai’s tourist flow network. Most of the popular scenic spots were found to benefit from Shanghai Disneyland, while other scenic spots with few connections to the core scenic spots may risk being marginalized gradually. (3) Shanghai Disneyland has a strong attraction for tourists, but it has a smaller bridging effect than Oriental Pearl Tower and Shanghai Wild Animal Park. In summary, Shanghai Disneyland has a limited capacity for tourist transfer between scenic spots. (4) Shanghai Disneyland has a direct and obvious regional driving effect to Pudong New Area’s scenic spots, such as Jinmao Tower and Shanghai World Financial Center. However, it has limited driving effects on scenic spots in Shanghai’s other administrative districts. Comparatively, the tourist attraction capability of Oriental Pearl Tower and Shanghai Wild Animal Park is not as strong as that of Shanghai Disneyland, but these have a better tourist transfer effect to other scenic spots in Shanghai. Based on these findings, we propose three suggestions as follows. Shanghai could develop its tourism industry around Shanghai Disneyland; each scenic spot should try to build a business linkage with Shanghai Disneyland or use a strategy of differentiation from Shanghai Disneyland in their operations; and the government should guide the promotion of new developments in the Shanghai tourism industry. This paper adopts an innovative method to analyze the impact of Shanghai Disneyland on Shanghai’s tourism industry from the perspective of changes in Shanghai’s tourist flow network. This study enriches and expands the content of tourist research. Our conclusions could also provide some guidance for the future development of the tourism industry in Shanghai.

Russia’s strategy for the development of the digital economy and policy orientation

GAO Jixiang

Russian Central Asian & East European Market,2018,No. 04

【Abstract】 The promulgation of the “Digital Economy of the Russian Federation” Program indicates that the development of the digital economy has become Russia’s national strategy. The difficulties lie in its small economic proportion, low rate of growth, wide gap, shortage of qualified labors, insufficient IT capability and poor condition for participants and so forth. To boost the growth of the new industry, Russia has implemented a series of key measures focusing on specifying objectives, perfecting laws and regulations, and improving government institutions.

Digital trade: definition, practical significance and research prospects

MA Shuzhong;FANG Chao;LIANG Yinfeng

Journal of International Trade,2018,No. 10

【Abstract】 Against the background of the intelligent transformation of manufacturing, this paper proposes the definition of digital trade based on the practice of digital trade in China and multi-way interpretations of digital trade. Digital trade is a new type of trade activity in the digital economy era. It relies on modern information networks and ICT to exchange physical goods, digital products, digital services, digital knowledge, and digital information. Digital trade will promote the transformation of consumer Internet to industrial Internet, and the intelligent transformation of manufacturing ultimately. This paper further analyzes the similarities and differences between digital trade and traditional trade and proposes the internal and external attributes of digital trade. Digital trade contributes to making new ground in pursuing all-round opening because it presents a trend of cost reduction, disintermediation and so on. With the development of digital trade, many propositions in traditional international economics have been challenged, and new economic facts are worth to be learned, which is an opportunity for China’s international economics research.

Approaching digital economy from the perspective of political economics

PEI Changhong;NI Jiangfei;LI Yue

Finance & Trade Economics,2018,Vol 39,No. 09

【Abstract】 Digital economy is a more advanced and sustainable economic form. Information and communications technology, as the core technology, has played an unprecedented role in promoting the development of social economy in all aspects. This paper firstly explains the concept of digital economy based on economics, and then analyzes the social reproduction process of digital information products and the characteristics of digital industry before proceeding to discuss the features of the micro-agents of digital economy and the sharing economy by adopting the basic principle of political economics. The emergence of digital economy poses challenges to the traditional economics and there is a pressing need for theoretical research and innovation to explain the new economic phenomenon.

Patterns and determinants of labor supply of digital platform workers: an analysis based on U ride-hailing platform drivers

YANG Weiguo;WANG Qi

Population Research,2018,Vol 42,No. 04

【Abstract】 This paper examined the basic demographic and labor supply characteristics of digital platform workers in China by using drivers’ survey data on U ride-hailing platform. A preliminary explanation of their differences in the labor supply at the individual level was presented. The result showed that overall the platform workers did not provide a high level labor supply and their labor supply showed a dispersed distribution. There was also inconsistence in the distribution of labor supply intensity and labor supply continuity. Drivers’ differences in education and hukou status could well explain their differences in the labor supply intensity but failed to account for their differences in labor supply continuity on the platform. The competitive income on the platform could well motivate drivers with low educational levels and non-local hukou, but it could not explain the labor supply behavior of drivers with high educational levels. Digital platform workers were featured by large internal heterogeneity. The issues of social risk bearing and social assimilation for digital platform workers merit more attention.

Development of digital finance in China: present and future

HUANG Yiping;HUANG Zhuo

China Economic Quarterly,2018,Vol 17,No. 04

【Abstract】 We summarized the development of digital finance in China during the past decade and reviewed the related literature from three aspects, including the development of digital inclusive finance in China and how it supported the real economy, the impact on the traditional financial markets, and the characteristics and risks of China’s P2P online P2P lending markets. We listed several questions about the future development of China’s digital finance for further research.

Can digital finance promote entrepreneurship?

XIE Xuanli;SHEN Yan;ZHANG Haoxing;GUO Feng

China Economic Quarterly,2018,Vol 17,No. 04

【Abstract】 In this paper we matched the provincial-level data of digital inclusive financial index from the Institute of Digital Finance at Peking University with the registration information of new enterprises that measured the degree of entrepreneurial activity in the region, and studied the relationship between the development of digital finance and entrepreneurship. After considering factors such as endogeneity problem, we found that the development of digital finance played a significant role in promoting entrepreneurship. Moreover, the coverage breadth, the depth of use and degree of digital support services of digital finance also promoted entrepreneurship significantly. At the same time, in the analysis of the mechanism, we found that the development of digital finance had a strong encouragement effect on entrepreneurship for the provincial-level regions with low urbanization rates and the enterprises with small registered capital, which reflected the inclusiveness of digital finance.

Digital-based performance training: concepts, advances and applications

YAN Qi;LIAO Ting;ZHANG Yujia

China Sport Science,2018,Vol 38,No. 11

【Abstract】 Digital-based performance training is the recent trend in the field of exercise science around the world, which attracts more and more attention from research institutes in China. Digital-based performance training is the use of digital monitoring devices to provide instant performance feedback during strength training, while supporting the timely adjustment during the training process. Basically, it is a bidirectional control mechanism. Digital-based performance training is of great importance not only to optimize the training efficiency in unit time, but also to enhance athletes’ motivation and to achieve personal accurate strength training for elite athletes. This paper has covered the following aspects: a systematic review of the concepts and advances of digital-based performance training in national and international literature; an exploration of main methods applied on digital-based performance training; case reports of a large number of elite athletes in practical applications; a discussion on the effectiveness of digital-based performance training for improving the training quality for elite athletes. We predict that digital-based performance training will become an important direction of the development of strength training in the near future.

Research and application of the multispectral digital system for identifying pigments of Mogao murals

CHAI Bolong;XIAO Dongrui;SU Bomin;FENG Wei;YU Zongren

Dunhuang Research,2018,No. 03

【Abstract】 Multispectral photography investigation technology has previously been used to reproduce the content of obscure murals and to analyze the use and distribution of the pigments in these murals. As for the murals of Mogao grottoes, a “multispectral photography image standard database of the Mogao grotto mural pigments” has been established by a rigorous system of selection and verification from the captured multispectral images of the 24 known types of pigments established by previous research results. Based on comparable terms, one can obtain the classification and distribution status of pigments of Maogao grotto murals through an analysis conducted by trained professionals comparing and analyzing the images of the murals captured under spectral conditions aligned with the pigment spectrum from the database. Individual differences in the perception of colors, however, are likely to lead to subjective inconsistencies, recognition difficulty, low precision and so forth, and it is not a process that untrained individuals can complete to produce satisfactory results. This study adopts the multispectral photography system to develop a multispectral digital image identification system for mural pigments based on the color data obtained from multispectral images. The process begins by selecting RGB values of the target pigment from obtaining multispectral images of wall paintings and converting them in HSV color space. By automatic querying, the most numerically similar HSV color values are then matched with pigment values from the multispectral image database, thus providing a scientific identification of pigment categories to a high degree of accuracy and efficiency that avoids the problems related to subjective manual comparisons.

?Value co-creation in the digital world: constructs, themes and research prospects

ZHU Liangjie;HE Jiaxun;HUANG Haiyang

Business Management Journal,2017,Vol 39,No. 01

【Abstract】 Value co-creation in the digital world has been frontier and hot spot of the studies in the marketing field. From existing research achievements, the studies are still at growth stage. On the basis of sorting out related literature, this article reviews the development of studies on value co-creation in the digital world. Firstly, we take value co-creation in the digital world as an extension of value co-creation in the digital world, define the basic concepts of value co-creation in the digital world, and puts focus on sorting out the three core dimensions of value co-creation, namely new changes of interaction, integration and empowerment in the digital world. Secondly, on the basis of summarizing basic study framework of value co-creation, this article concludes three important research themes of value co-creation in the digital world, namely value co-creation of social media, value co-creation of brand communities and value co-creation and brand building in the digital world. At last, this article proposes some prospects to help domestic scholars in developing related research。

The strength of classical contract law in the digital era-in the context of digital single market strategy of the European Union

JIN Jing

Chinese Journal of European Studies,2017,Vol 35,No. 06

【Abstract】 Confronted with ubiquitous challenges in the digital era, contract law witnesses no disruptive threat because the classical contract law has demonstrated unprecedented institutional resilience and methodological strength. The EU Digital Single Market Strategy involves three types of digital contracts, namely, contract for the supply of digital content, contract for cloud computing, and machine-to-machine contract. The EU is the first region in the world that has endeavored to establish rules for digital contracts by abandoning the idea of digital goods and clarifying the concept of “supply of digital content” with abstract definition, incomplete enumeration and exceptional circumstances. The “supply of digital content” transcends the existing contract categories of sales contract and service contract. However, there are still huge potentials for the application of traditional categorization based on characteristic performance and application or quasi-application of typical contract rules. At the same time, the standard configuration of mixed contracts has become a critical theoretical focus. Exemption and limited-liability clauses in cloud computing contracts give prominence to the significance of standard terms. Smart contract appears to have surpassed the theory of incomplete contracts, but instead of being a de facto contract, it is simply an automatic procedure of protocol execution. Machine-to-machine contract also fails to threaten the theory of contract conclusion. The liability issue could be resolved by broadening the application scope of agency from “person” to “person and machine” with the reference to agency or communication rules. Digital content and intellectual property law have intrinsic connections as well as contradictions. As “defect in title” is the core morality of digital content defect, it is paramount to strike a balance between negative agreements on nature, copyright licensing and usage restrictions.

Diversified and heterogeneous digital culture: the presentation and display of the digital culture of Dunhuang Grottoes

WU Jian

Dunhuang Research,2016,No. 01

【Abstract】 Taking advantage of the digital presentation provided by Dunhuang Research Academy and requirements of the “Belt and Road” Initiative of cultural tourism, massive amounts of digital data documenting the Dunhuang Grottoes can now be transformed into various digitalized visual works, rendering immovable cultural relics accessible for people around the world through new methods of visual expression and new patterns of tourism. Careful organization and layout, research and design combining art and high-end technology, and virtualilty and reality combined spaces will create a brand new diversified and heterogeneous digital culture.

Application of the integration of culture and technology in cultural heritage protection: a case study of the digitization of Dunhuang Mogao Grottoes

CHEN Zhenwang;FAN Jinshi

Dunhuang Research,2016,No. 02

【Abstract】 Culture and technology are always going hand in hand, with one subtly influencing the other. Against the historical background of the integration of culture and technology, this article aims to describe the significant value of the integration of culture and technology in cultural heritage protection from an interdisciplinary perspective. By using the example of the digital conservation and exhibition of Dunhuang Mogao Grottoes, the authors further explore the specific application of the integration of culture and technology from both theoretical and practical dimensions, thus proposing practical approaches to the realization of the integration of culture and technology in cultural heritage protection.

Mathematical governance in the rural targeted poverty alleviation

WANG Yulei

Sociological Studies,2016,Vol 31,No. 06

【Abstract】 Mathematical governance in the rural areas is a typical application of technological governance in rural poverty alleviation and development in China. The information competency of the state can be well improved by the localization, systematization and localization of the statistics. Based on the extensive fieldwork, the author finds out that due to the long multilevel contracting production of the mathematical techniques, where the logic and motivations of the agents’ behaviors differ from each other, the reliability of statistics cannot be guaranteed. More importantly, the statistics are the outcome of the state information penetration and administrative intervention, rather than growing from the activities of the grassroots. Thus it is isolated from the local governance process and rural social life.

From the digital divide to the connectivity dividend difference: a connectivity capital perspective

QIU Zeqi;ZHANG Shuqin;LIU Shiding;XU Yingkang

Social Sciences in China,2016,No. 10

【Abstract】 The basic digital divide used to be that of access. The development of internet infrastructure has reduced this divide and increased application and coverage, but it has triggered an internet dividend difference. Within the framework of internet capital, we have used the case of the internet market to investigate the source of this difference and the mechanisms that affect it. We found that the decline of the access divide has brought about platform development and increased connectivity, giving people the opportunity to use the internet to their benefit to transform the assets they have previously invested in into differentiated combinatorial internet capital. In particular, although differences in conversion scales and rates are influenced by two“multiplier effects,” they are more affected by internet platforms. This is ultimately expressed in dividend differences.

Digitization of Historical Relics in the Dunhuang Caves: A combination of research, technology, and art

WU Jian

Dunhuang Research,2015,No. 02

【Abstract】 This article discusses the cave-temple digitization from the perspectives of research, technology, and art. Firstly, research is foundation for the Dunhuang Caves digitization. It’s necessary to get knowledge of Dunhuang studies to tap its academic value; in accordance with the Law for the Preservation of Antiques, adopt scientific antiques protection concept; make use of professional knowledge of photography and computer to make the digitization project, so as to guide practical work. Secondly, establish workflow and standard specification of digitization, and continuously introduce new technology to adopt multiple technological means to store the data permanently. Finally, enhance application of digitization achievements, developing thought to show audience the Dunhuang Cave of the highest value for the purpose of art.

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