This research examines the relationship between supply chain finance innovation and environmental governance effectiveness among SMEs,with technological capability as mediator and institutional support as moderator.Un...This research examines the relationship between supply chain finance innovation and environmental governance effectiveness among SMEs,with technological capability as mediator and institutional support as moderator.Unlike previous isolated analyses,this study develops an integrated framework capturing the interplay between financial mechanisms and environmental outcomes.The innovative analytical approach incorporates“hard”and“soft”indicators,blockchain-based environmental performance management,and regulatory-financial integration.Hierarchical regression analysis of data from 1,682 manufacturing SMEs(2019–2023)reveals that supply chain finance innovation significantly improves environmental governance effectiveness(β=0.412,p<0.01),with 32.9%mediated through technological capability.Institutional support demonstrates substantial moderating effects(β=0.228,p<0.01),emphasizing the combined influence of finance innovation and technological capability on environmental outcomes.Cross-sectional analysis shows these effects are stronger among larger firms,private enterprises,and in developed regions.The findings enhance understanding of how financial innovation interacts with environmental sustainability through technological capability while highlighting institutional support’s importance.This research contributes to policy formulation and practice by demonstrating how innovative financial mechanisms can encourage improved environmental governance among SMEs.展开更多
Green finance,as an important policy to promote high-quality economic development,has become a focus of attention in the academic and policy circles for its promotion of industrial structure optimization.Based on the ...Green finance,as an important policy to promote high-quality economic development,has become a focus of attention in the academic and policy circles for its promotion of industrial structure optimization.Based on the data of six provinces in Central China from 2010 to 2023,this paper constructs a comprehensive index of green finance development by using entropy value method and empirically analyses the impact of green finance on industrial structure optimization.The results show that the level of green finance development has a significant contribution to the optimization of the industrial structure in the central region.Accordingly,this study provides suggestions for deepening green finance reform and accelerating industrial transformation and upgrading.展开更多
In China’s era of high-quality development,green technological innovation has become a key driver of economic growth.Drawing on data from A-share listed companies in China from 2008 to 2022,this paper systematically ...In China’s era of high-quality development,green technological innovation has become a key driver of economic growth.Drawing on data from A-share listed companies in China from 2008 to 2022,this paper systematically examines how supply chain finance(SCF)promotes green technological innovation.The results show that:(a)SCF significantly enhances green technological innovation in core enterprises,which impacts patents for both green invention and utility models;(b)SCF uses three main pathways to drive innovation:easing financing constraints,accelerating digital transformation,and optimizing corporate governance;and(c)The innovation-enhancing effect of SCF is more pronounced in firms with high environmental investment,and non-heavy-polluting industries.This study enriches the theoretical framework for green technological innovation by incorporating financing,digitalization,and governance perspectives,and also provides micro-level evidence and practical insights for leveraging SCF to empower the real economy.展开更多
This study exploits China's"Pilot Program for the Integration of Science and Technology with Finance"as a quasi-natural experiment to investigate the effect of Sci-Tech Finance on corporate financial res...This study exploits China's"Pilot Program for the Integration of Science and Technology with Finance"as a quasi-natural experiment to investigate the effect of Sci-Tech Finance on corporate financial resilience and its underlying mechanisms.Using panel data of A-share firms listed on the Shanghai and Shenzhen stock exchanges from 2000 to 2024 and using a staggered difference-in-differences(DID)model,we find that corporate financial resilience significantly improved after the Sci-Tech Finance policy,as evidenced by reduced earnings volatility and more sustainable profit growth.Heterogeneity analyses show that the effect is more pronounced during periods of high economic policy uncertainty(EPU)and in regions with less developed traditional banking systems.Mechanism analyses suggest that Sci-Tech Finance strengthens firm financial resilience by alleviating financing constraints,mitigating information asymmetry,optimizing investment efficiency,and promoting green innovation.We provide novel evidence on the role of Sci-Tech Finance in stabilizing firm performance and fostering long-term value creation,thereby contributing to the broad literature on high-quality economic development.展开更多
The interaction between supply chain relationships and corporate finance has become a focal issue in academic and practical circles,especially under the dual drivers of globalization and marketization.This paper syste...The interaction between supply chain relationships and corporate finance has become a focal issue in academic and practical circles,especially under the dual drivers of globalization and marketization.This paper systematically reviews existing research on this topic,covering theoretical foundations from perspectives such as agency theory,stakeholder theory,and co-opetition game theory,which explain the nature of customer-supplier relationships.It also combs through empirical studies from four core angles:competition-cooperation,signal transmission,spillover effects,and information transfer,summarizing findings on how supply chain relationships impact corporate investment,financing,operations,and performance,as well as existing controversies.The aim is to clarify the research context,identify theoretical and empirical gaps,and provide theoretical support and direction for deepening future research on supply chain and corporate finance.展开更多
Economic growth affects natural resources and the environment directly and indirectly;however,the exact role that natural resources play in environmental sustainability remains unknown.This paper revisits the relation...Economic growth affects natural resources and the environment directly and indirectly;however,the exact role that natural resources play in environmental sustainability remains unknown.This paper revisits the relationship between natural resources and CO_(2)emissions by considering the role of green finance vis-à-vis the aggregated and disaggregated analysis.Empirical panel data estimation analyzes a sample of emerging countries over the 2001-2019 period using the recently developed econometric cross-sectional auto-regressive distributed lag(CS-ARDL)technique.The findings show that natural resource components(natural gas,mineral rent,oil rent,and coal rent)are negatively associated with environmental pollution.In contrast,overall natural resource consumption helps reduce carbon emissions.However,we find that green finance contributes to carbon emission reduction.In contrast,education causes pollution by contributing to carbon emissions.We offer policy recommendations about the effectiveness of green financing for the sustainable use of natural resources in diminishing pollution.展开更多
Utilizing data from 5,481 village-level service stations(VS)in Baoding,China,this study empirically investigates the impact of digital inclusive finance(DIF)and VS infrastructure on rural e-commerce(RE)development.Res...Utilizing data from 5,481 village-level service stations(VS)in Baoding,China,this study empirically investigates the impact of digital inclusive finance(DIF)and VS infrastructure on rural e-commerce(RE)development.Results demonstrate that DIF significantly promotes RE by reducing transaction and financing costs(β=0.783,P<0.01).VS as physical infrastructure significantly drives RE growth(β=0.654,P<0.01).Crucially,DIF and VS exhibit synergistic effects(interactionβ=0.421,P<0.01),producing a“1+1>2”enhancement.Regional economic development,population density,and education levels positively influence RE.Current challenges include financial misallocation,infrastructure deficits,and skill gaps.We propose a“One Core,Three Wings”framework—Core:Develop tailored financial products for specialty industries(luggage,textiles,mushrooms);Wings:(1)Upgrade digital infrastructure,(2)Optimize policy synergy,(3)Enhance inclusive capacity through elderly-friendly technologies and training.Implementation strategies include establishing risk-sharing mechanisms,expanding VS functionality,and creating DIF-RE-VS alliances to foster sustainable rural revitalization.展开更多
Blockchain technologies have been used to facilitate Web 3.0 and FinTech applications.However,conventional blockchain technologies suffer from long transaction delays and low transaction success rates in some Web 3.0 ...Blockchain technologies have been used to facilitate Web 3.0 and FinTech applications.However,conventional blockchain technologies suffer from long transaction delays and low transaction success rates in some Web 3.0 and FinTech applications such as Supply Chain Finance(SCF).Blockchain sharding has been proposed to improve blockchain performance.However,the existing sharding methods either use a static sharding strategy,which lacks the adaptability for the dynamic SCF environment,or are designed for public chains,which are not applicable to consortium blockchain-based SCF.To address these issues,we propose an adaptive consortium blockchain sharding framework named ACSarF,which is based on the deep reinforcement learning algorithm.The proposed framework can improve consortium blockchain sharding to effectively reduce transaction delay and adaptively adjust the sharding and blockout strategies to increase the transaction success rate in a dynamic SCF environment.Furthermore,we propose to use a consistent hash algorithm in the ACSarF framework to ensure transaction load balancing in the adaptive sharding system to further improve the performance of blockchain sharding in dynamic SCF scenarios.To evaluate the proposed framework,we conducted extensive experiments in a typical SCF scenario.The obtained experimental results show that the ACSarF framework achieves a more than 60%improvement in user experience compared to other state-of-the-art blockchain systems.展开更多
China and ASEAN(Association of Southeast Asian Nations)have concluded the negotiations for the China-ASEAN Free Trade Area 3.0.The recent ASEAN Summit also initiated“the ASEAN Community Vision 2045”,highlighting vas...China and ASEAN(Association of Southeast Asian Nations)have concluded the negotiations for the China-ASEAN Free Trade Area 3.0.The recent ASEAN Summit also initiated“the ASEAN Community Vision 2045”,highlighting vast cooperation potential and broad prospects for collaboration between the two sides in green and sustainable development.Under such background,this article issues new areas and opportunities for collaboration in climate-related fields for addressing the“Energy Trilemma”problems,based on the considerations of natural resource endowments and current cooperation status of both sides,in expectations of promoting inclusive and sustainable regional growth while achieving mutual benefits and win-win development for all parties involved.展开更多
Digital economy has become a new driving force for China’s economic growth,continuously boosting economic development and rapidly integrating into various fields of China’s economy and society.The advent of the digi...Digital economy has become a new driving force for China’s economic growth,continuously boosting economic development and rapidly integrating into various fields of China’s economy and society.The advent of the digital economy era has reshaped the development pattern of the financial industry.The rapid development of financial technology has promoted the transformation of financial formats and put forward higher requirements for financial talent training in the new era.Digital finance is not only a key part of the transformation and upgrading of China’s financial industry but also an integral component of China’s modern financial ecosystem.Against the backdrop of the digital economy,cultivating digital finance talents in vocational colleges is of great significance to China’s economic development.This paper analyzes the predicaments faced in digital finance talent training,explores in depth the reform of digital finance talent training modes,and proposes policy suggestions for the digital finance talent training system based on the development characteristics of digital finance.展开更多
Driven by the dual forces of China’s financial powerhouse strategy and advancements in artificial intelligence,digital finance has experienced rapid growth,rendering traditional financial legal regulations inadequate...Driven by the dual forces of China’s financial powerhouse strategy and advancements in artificial intelligence,digital finance has experienced rapid growth,rendering traditional financial legal regulations inadequate to meet its regulatory demands.Key challenges include lagging legislative regulation,limited applicability of the standard regulations,and diminished effectiveness of the supervisory regulations.These challenges stem from the“single-entity”regulatory approach which is inadequate to meet its regulatory needs of mixed operations of digital finance,the misalignment between“static”administrative regulations and the dynamic evolution of financial technology(fintech),and the uneven allocation of regulatory resources,which constrain regulatory precision.To achieve a dynamic balance between the development of digital finance and its regulation,the adoption of inclusive legal regulation is imperative.The technological empowerment theory integrates the principles of finance with the“people-centered”concept and the social good,which thereby safeguards the rights and interests of digital finance consumers.As a pivotal standard for shaping inclusive legal regulation,digital justice should not only uphold fairness in the regulation of processes but also advance the organic integration of scenario-based justice and the principles of Law 3.0.In the future,China should foster multi-stakeholder collaborative governance to ensure the orderly allocation of the regulators’power.This effort should be supported by a comprehensive toolkit of technological regulations,which can dynamically balance incentive regulation with binding regulation while simultaneously enabling the efficient flow of regulatory resources within specific application scenarios.Such strategies would provide a viable pathway toward the goal of achieving inclusive legal regulation in digital finance.展开更多
The banking industry is placing increasing emphasis on green finance to address climate change,support sustainable development,and align with environmental,social,and governance(ESG)goals,as well as sustainable invest...The banking industry is placing increasing emphasis on green finance to address climate change,support sustainable development,and align with environmental,social,and governance(ESG)goals,as well as sustainable investments to fund environmentally friendly projects.In an era of growing regulatory pressure and rising demand for sustainability from investors and stakeholders,green finance has become a vital tool for banks to enhance operational efficiency.It can reduce operational costs by financing energy-saving projects,improve asset quality by funding low-risk sustainable projects,and even attract capital from environmentally responsible capital markets.Additionally,green finance helps improve risk management frameworks by financing projects that align with long-term sustainable development objectives.This paper explores the relationship between green finance and the operational efficiency of three major banks—RHB Bank,Industrial and Commercial Bank of China(ICBC),and Deutsche Bank.The article focuses on analyzing how these banks integrate green finance into their strategies and the overall impact of these initiatives on operational performance,primarily cost reduction.展开更多
Against the backdrop of the rapid development of the digital economy,corporate financial management faces unprecedented challenges and opportunities.This paper will start with the concept of financial shared services ...Against the backdrop of the rapid development of the digital economy,corporate financial management faces unprecedented challenges and opportunities.This paper will start with the concept of financial shared services to deeply explore the role and significance of the financial shared service model in the digital transformation of corporate finance.It analyzes the existing problems in the current process of digital transformation of corporate finance and proposes corresponding solutions,providing valuable references and guidance for enterprises to achieve digital transformation of finance.展开更多
This paper begins with a discussion of the trust issues that agricultural supply chain finance faces.It then examines the constraints of using blockchain technology to enhance trust in agricultural supply chain financ...This paper begins with a discussion of the trust issues that agricultural supply chain finance faces.It then examines the constraints of using blockchain technology to enhance trust in agricultural supply chain finance in accordance with the technological and institutional logic of combining blockchain with supply chains.This study then proposes the creation of an agricultural“blockchain+supply chain”information service platform and a financing trust mechanism that can effectively ensure the authenticity of the initial information input on the blockchain,consistency between on-chain transaction data and off-chain physical transactions,the controllability of risks in the set up and execution of smart contracts,and the removal of information constraints,resource allocation constraints,and institutional constraints in the agricultural supply chain financing.This aims to improve the efficiency of financing in agricultural supply chains and contribute to the industrial development of rural areas and rural revitalization.展开更多
This paper explores the application of blockchain in Hainan’s supply chain finance,analyzing its impact on enhancing market transparency,optimizing processes,and addressing challenges like information asymmetry and i...This paper explores the application of blockchain in Hainan’s supply chain finance,analyzing its impact on enhancing market transparency,optimizing processes,and addressing challenges like information asymmetry and inefficient credit transmission.It examines technical and security issues such as scalability and cross-chain interoperability,proposing solutions like layered architectures and privacy computing.The study highlights blockchain’s role in empowering cross-border trade,tropical agriculture,and SME financing,aiming to provide a reference for Hainan Free Trade Port’s financial digital transformation.展开更多
With the global advancement of the concept of sustainable development and environmental protection work,especially under the systematic deployment of green development in the report of the 20th National Congress of th...With the global advancement of the concept of sustainable development and environmental protection work,especially under the systematic deployment of green development in the report of the 20th National Congress of the Communist Party of China,the development of green finance in China has an increasingly significant impact on enterprise operation and management.Against the backdrop of the continuous deepening of green finance,it has multi-dimensional and profound impacts on enterprises’investment and financing decisions,resource allocation,and development strategies.Based on this,this paper focuses on the level of enterprises’investment and financing strategies,deeply analyzes the specific impacts of green finance development on enterprises,analyzes them in combination with practical problems,and then proposes corresponding optimization countermeasures,aiming to provide theoretical support and practical references for enhancing the core competitiveness of enterprises in the context of green finance.展开更多
The global climate crisis has become the focus of attention,and China vigorously pursues low-carbon economic development,for which the implementation of green finance is continuously enhanced,so does the development o...The global climate crisis has become the focus of attention,and China vigorously pursues low-carbon economic development,for which the implementation of green finance is continuously enhanced,so does the development of green finance contribute to low-carbon economic development?This paper constructs a green finance and low carbon economic development index system containing several indicators,and measures them using the entropy weight method of spatial-temporal extreme difference.This paper conducts an empirical study based on the data of 30 provinces and cities from 2005 to 2020,and the results of the study find that green finance has policy incentive effect and institutional incentive effect,and can significantly and positively affect the development of low-carbon economy,and the findings still hold after endogeneity test and robustness test.The mechanism test shows that green finance can influence low-carbon economic development by promoting industrial structure upgrading,green technology innovation and FDI inflow;moreover,the positive promotion effect of green finance is more obvious in the western region and non-Yangtze River Economic Zone region;finally,the moderating effect test reveals that the institutional environment and the level of technology market development can enhance the relationship between green finance and low-carbon economic development.展开更多
The development of artificial intelligence has brought tremendous changes to enterprises and also pose higher demands on financial professionals.Through literature research,this paper explores the viewpoints of domest...The development of artificial intelligence has brought tremendous changes to enterprises and also pose higher demands on financial professionals.Through literature research,this paper explores the viewpoints of domestic and foreign scholars and industry experts on the impact of Artificial Intelligence(AI)on corporate financial management and the role transformation of financial professionals.It analyzes the current application status of AI technology in finance.The results indicate that AI will replace some repetitive and highly procedural tasks,such as simple data entry and bookkeeping.AI can improve the processing speed and accuracy of corporate financial data.With its learning capabilities,AI can assist financial professionals in addressing knowledge gaps.However,AI cannot completely replace human thinking,judgment,and decision-making,especially in areas like emotional communication and aesthetic experience.This requires financial professionals to continuously improve their overall qualities,leverage their strengths,and achieve complementary advantages with machines,jointly promoting innovative financial development in the era of artificial intelligence.展开更多
As an important tool to achieve sustainable economic and environmental development,green finance can effectively alleviate the financing constraints of small and medium-sized enterprises(SMEs),especially in promoting ...As an important tool to achieve sustainable economic and environmental development,green finance can effectively alleviate the financing constraints of small and medium-sized enterprises(SMEs),especially in promoting green transformation plays a key role.SMEs play an important role in economic growth,innovation,and job creation,but due to a lack of collateral,imperfect credit history,and opaque financial information,they face great obstacles in the financing process,especially in the early capital investment required for green transformation.Green finance,through innovative financial instruments such as green credit and green bonds,provides new financing channels for SMEs,helping them reduce financing costs,optimize financing structure,and promote their green transformation and sustainable development.This paper analyzes the current situation and root causes of SMEs’financing dilemma from the perspective of green finance,and probes into the influence of green finance policies on financing behavior.展开更多
Digital financial inclusion provides financial services through digital platforms,aiming to improve the ability of MSMEs and low-income groups to access financial resources,thereby easing their financing constraints a...Digital financial inclusion provides financial services through digital platforms,aiming to improve the ability of MSMEs and low-income groups to access financial resources,thereby easing their financing constraints and promoting economic growth and inclusive development.As an innovative financial model,digital financial inclusion utilizes modern technological means to significantly improve the accessibility and convenience of financial services,especially in areas where traditional banking services are under-covered.Digital finance has promoted the popularization of financial services such as micro-credit,micro-savings,and micro-insurance,and helped improve the financing environment of low-income groups and small and micro enterprises.At the same time,digital financial inclusion promotes financial literacy education and digital inclusion construction,and enhances the acceptance and use of digital financial instruments by the general public,which is the key to achieving sustainable development of digital financial inclusion.Therefore,digital financial inclusion can better ease the financing constraints of small and medium-sized enterprises and promote economic development.展开更多
文摘This research examines the relationship between supply chain finance innovation and environmental governance effectiveness among SMEs,with technological capability as mediator and institutional support as moderator.Unlike previous isolated analyses,this study develops an integrated framework capturing the interplay between financial mechanisms and environmental outcomes.The innovative analytical approach incorporates“hard”and“soft”indicators,blockchain-based environmental performance management,and regulatory-financial integration.Hierarchical regression analysis of data from 1,682 manufacturing SMEs(2019–2023)reveals that supply chain finance innovation significantly improves environmental governance effectiveness(β=0.412,p<0.01),with 32.9%mediated through technological capability.Institutional support demonstrates substantial moderating effects(β=0.228,p<0.01),emphasizing the combined influence of finance innovation and technological capability on environmental outcomes.Cross-sectional analysis shows these effects are stronger among larger firms,private enterprises,and in developed regions.The findings enhance understanding of how financial innovation interacts with environmental sustainability through technological capability while highlighting institutional support’s importance.This research contributes to policy formulation and practice by demonstrating how innovative financial mechanisms can encourage improved environmental governance among SMEs.
基金Project of Hunan Federation of Social Sciences,“Research on the Coupling Coordination Relationship between Green Finance and Industrial Structure Optimization in Hunan Province”(Project No.:XSP2023GLC027)。
文摘Green finance,as an important policy to promote high-quality economic development,has become a focus of attention in the academic and policy circles for its promotion of industrial structure optimization.Based on the data of six provinces in Central China from 2010 to 2023,this paper constructs a comprehensive index of green finance development by using entropy value method and empirically analyses the impact of green finance on industrial structure optimization.The results show that the level of green finance development has a significant contribution to the optimization of the industrial structure in the central region.Accordingly,this study provides suggestions for deepening green finance reform and accelerating industrial transformation and upgrading.
基金supported by the Chongqing Municipal Education Commission Science and Technology Project(KJQN202000506).
文摘In China’s era of high-quality development,green technological innovation has become a key driver of economic growth.Drawing on data from A-share listed companies in China from 2008 to 2022,this paper systematically examines how supply chain finance(SCF)promotes green technological innovation.The results show that:(a)SCF significantly enhances green technological innovation in core enterprises,which impacts patents for both green invention and utility models;(b)SCF uses three main pathways to drive innovation:easing financing constraints,accelerating digital transformation,and optimizing corporate governance;and(c)The innovation-enhancing effect of SCF is more pronounced in firms with high environmental investment,and non-heavy-polluting industries.This study enriches the theoretical framework for green technological innovation by incorporating financing,digitalization,and governance perspectives,and also provides micro-level evidence and practical insights for leveraging SCF to empower the real economy.
文摘This study exploits China's"Pilot Program for the Integration of Science and Technology with Finance"as a quasi-natural experiment to investigate the effect of Sci-Tech Finance on corporate financial resilience and its underlying mechanisms.Using panel data of A-share firms listed on the Shanghai and Shenzhen stock exchanges from 2000 to 2024 and using a staggered difference-in-differences(DID)model,we find that corporate financial resilience significantly improved after the Sci-Tech Finance policy,as evidenced by reduced earnings volatility and more sustainable profit growth.Heterogeneity analyses show that the effect is more pronounced during periods of high economic policy uncertainty(EPU)and in regions with less developed traditional banking systems.Mechanism analyses suggest that Sci-Tech Finance strengthens firm financial resilience by alleviating financing constraints,mitigating information asymmetry,optimizing investment efficiency,and promoting green innovation.We provide novel evidence on the role of Sci-Tech Finance in stabilizing firm performance and fostering long-term value creation,thereby contributing to the broad literature on high-quality economic development.
文摘The interaction between supply chain relationships and corporate finance has become a focal issue in academic and practical circles,especially under the dual drivers of globalization and marketization.This paper systematically reviews existing research on this topic,covering theoretical foundations from perspectives such as agency theory,stakeholder theory,and co-opetition game theory,which explain the nature of customer-supplier relationships.It also combs through empirical studies from four core angles:competition-cooperation,signal transmission,spillover effects,and information transfer,summarizing findings on how supply chain relationships impact corporate investment,financing,operations,and performance,as well as existing controversies.The aim is to clarify the research context,identify theoretical and empirical gaps,and provide theoretical support and direction for deepening future research on supply chain and corporate finance.
基金supported by funding from the Wuhan Technology and Business University Doctoral Research Fund Project[Grant No.D2024007].
文摘Economic growth affects natural resources and the environment directly and indirectly;however,the exact role that natural resources play in environmental sustainability remains unknown.This paper revisits the relationship between natural resources and CO_(2)emissions by considering the role of green finance vis-à-vis the aggregated and disaggregated analysis.Empirical panel data estimation analyzes a sample of emerging countries over the 2001-2019 period using the recently developed econometric cross-sectional auto-regressive distributed lag(CS-ARDL)technique.The findings show that natural resource components(natural gas,mineral rent,oil rent,and coal rent)are negatively associated with environmental pollution.In contrast,overall natural resource consumption helps reduce carbon emissions.However,we find that green finance contributes to carbon emission reduction.In contrast,education causes pollution by contributing to carbon emissions.We offer policy recommendations about the effectiveness of green financing for the sustainable use of natural resources in diminishing pollution.
文摘Utilizing data from 5,481 village-level service stations(VS)in Baoding,China,this study empirically investigates the impact of digital inclusive finance(DIF)and VS infrastructure on rural e-commerce(RE)development.Results demonstrate that DIF significantly promotes RE by reducing transaction and financing costs(β=0.783,P<0.01).VS as physical infrastructure significantly drives RE growth(β=0.654,P<0.01).Crucially,DIF and VS exhibit synergistic effects(interactionβ=0.421,P<0.01),producing a“1+1>2”enhancement.Regional economic development,population density,and education levels positively influence RE.Current challenges include financial misallocation,infrastructure deficits,and skill gaps.We propose a“One Core,Three Wings”framework—Core:Develop tailored financial products for specialty industries(luggage,textiles,mushrooms);Wings:(1)Upgrade digital infrastructure,(2)Optimize policy synergy,(3)Enhance inclusive capacity through elderly-friendly technologies and training.Implementation strategies include establishing risk-sharing mechanisms,expanding VS functionality,and creating DIF-RE-VS alliances to foster sustainable rural revitalization.
基金supported by the National Key Research and Development Program of China (2022YFC3302300)National Natural Science Foundation of China under Grant (No.61873309,No.92046024,No.92146002)Shanghai Science and Technology Project under Grant (No.22510761000)。
文摘Blockchain technologies have been used to facilitate Web 3.0 and FinTech applications.However,conventional blockchain technologies suffer from long transaction delays and low transaction success rates in some Web 3.0 and FinTech applications such as Supply Chain Finance(SCF).Blockchain sharding has been proposed to improve blockchain performance.However,the existing sharding methods either use a static sharding strategy,which lacks the adaptability for the dynamic SCF environment,or are designed for public chains,which are not applicable to consortium blockchain-based SCF.To address these issues,we propose an adaptive consortium blockchain sharding framework named ACSarF,which is based on the deep reinforcement learning algorithm.The proposed framework can improve consortium blockchain sharding to effectively reduce transaction delay and adaptively adjust the sharding and blockout strategies to increase the transaction success rate in a dynamic SCF environment.Furthermore,we propose to use a consistent hash algorithm in the ACSarF framework to ensure transaction load balancing in the adaptive sharding system to further improve the performance of blockchain sharding in dynamic SCF scenarios.To evaluate the proposed framework,we conducted extensive experiments in a typical SCF scenario.The obtained experimental results show that the ACSarF framework achieves a more than 60%improvement in user experience compared to other state-of-the-art blockchain systems.
文摘China and ASEAN(Association of Southeast Asian Nations)have concluded the negotiations for the China-ASEAN Free Trade Area 3.0.The recent ASEAN Summit also initiated“the ASEAN Community Vision 2045”,highlighting vast cooperation potential and broad prospects for collaboration between the two sides in green and sustainable development.Under such background,this article issues new areas and opportunities for collaboration in climate-related fields for addressing the“Energy Trilemma”problems,based on the considerations of natural resource endowments and current cooperation status of both sides,in expectations of promoting inclusive and sustainable regional growth while achieving mutual benefits and win-win development for all parties involved.
文摘Digital economy has become a new driving force for China’s economic growth,continuously boosting economic development and rapidly integrating into various fields of China’s economy and society.The advent of the digital economy era has reshaped the development pattern of the financial industry.The rapid development of financial technology has promoted the transformation of financial formats and put forward higher requirements for financial talent training in the new era.Digital finance is not only a key part of the transformation and upgrading of China’s financial industry but also an integral component of China’s modern financial ecosystem.Against the backdrop of the digital economy,cultivating digital finance talents in vocational colleges is of great significance to China’s economic development.This paper analyzes the predicaments faced in digital finance talent training,explores in depth the reform of digital finance talent training modes,and proposes policy suggestions for the digital finance talent training system based on the development characteristics of digital finance.
基金funded by a general project of the National Social Science Fund of China“Research on the Construction of the Implementation Mechanism of the Paris Agreement under the Concept of a Community with a Shared Future for Mankind(Project No.:20BFX210)”a Humanities and Social Sciences Special Project of the Fundamental Research Funds for the Central Universities“Research on Legal Issues and Countermeasures for Promoting High-Quality Green Development in the Belt and Road Region”(Project No.:2022CD-JSKPY28).
文摘Driven by the dual forces of China’s financial powerhouse strategy and advancements in artificial intelligence,digital finance has experienced rapid growth,rendering traditional financial legal regulations inadequate to meet its regulatory demands.Key challenges include lagging legislative regulation,limited applicability of the standard regulations,and diminished effectiveness of the supervisory regulations.These challenges stem from the“single-entity”regulatory approach which is inadequate to meet its regulatory needs of mixed operations of digital finance,the misalignment between“static”administrative regulations and the dynamic evolution of financial technology(fintech),and the uneven allocation of regulatory resources,which constrain regulatory precision.To achieve a dynamic balance between the development of digital finance and its regulation,the adoption of inclusive legal regulation is imperative.The technological empowerment theory integrates the principles of finance with the“people-centered”concept and the social good,which thereby safeguards the rights and interests of digital finance consumers.As a pivotal standard for shaping inclusive legal regulation,digital justice should not only uphold fairness in the regulation of processes but also advance the organic integration of scenario-based justice and the principles of Law 3.0.In the future,China should foster multi-stakeholder collaborative governance to ensure the orderly allocation of the regulators’power.This effort should be supported by a comprehensive toolkit of technological regulations,which can dynamically balance incentive regulation with binding regulation while simultaneously enabling the efficient flow of regulatory resources within specific application scenarios.Such strategies would provide a viable pathway toward the goal of achieving inclusive legal regulation in digital finance.
文摘The banking industry is placing increasing emphasis on green finance to address climate change,support sustainable development,and align with environmental,social,and governance(ESG)goals,as well as sustainable investments to fund environmentally friendly projects.In an era of growing regulatory pressure and rising demand for sustainability from investors and stakeholders,green finance has become a vital tool for banks to enhance operational efficiency.It can reduce operational costs by financing energy-saving projects,improve asset quality by funding low-risk sustainable projects,and even attract capital from environmentally responsible capital markets.Additionally,green finance helps improve risk management frameworks by financing projects that align with long-term sustainable development objectives.This paper explores the relationship between green finance and the operational efficiency of three major banks—RHB Bank,Industrial and Commercial Bank of China(ICBC),and Deutsche Bank.The article focuses on analyzing how these banks integrate green finance into their strategies and the overall impact of these initiatives on operational performance,primarily cost reduction.
文摘Against the backdrop of the rapid development of the digital economy,corporate financial management faces unprecedented challenges and opportunities.This paper will start with the concept of financial shared services to deeply explore the role and significance of the financial shared service model in the digital transformation of corporate finance.It analyzes the existing problems in the current process of digital transformation of corporate finance and proposes corresponding solutions,providing valuable references and guidance for enterprises to achieve digital transformation of finance.
基金an initial outcome of the Research on the Trust Mechanism of Agricultural Supply Chain Financing in the Context of “Blockchain+Supply Chain” Integrated Governance (Project No:20AGL021)a key project under the National Social Science Fund of China (NSSFC)+3 种基金the Research on the Trust Mechanism of Online Bank Lending System Based on Online Social Capital of Long-tail Rural Households (Project No:19BGL155)a project under the NSSFCthe Research on the Cost Formation Mechanism of Data Factor Transactions and the Design of Transaction Mechanism (Project No:23CJY068)a youth project under the NSSFC
文摘This paper begins with a discussion of the trust issues that agricultural supply chain finance faces.It then examines the constraints of using blockchain technology to enhance trust in agricultural supply chain finance in accordance with the technological and institutional logic of combining blockchain with supply chains.This study then proposes the creation of an agricultural“blockchain+supply chain”information service platform and a financing trust mechanism that can effectively ensure the authenticity of the initial information input on the blockchain,consistency between on-chain transaction data and off-chain physical transactions,the controllability of risks in the set up and execution of smart contracts,and the removal of information constraints,resource allocation constraints,and institutional constraints in the agricultural supply chain financing.This aims to improve the efficiency of financing in agricultural supply chains and contribute to the industrial development of rural areas and rural revitalization.
基金2024 Hainan Provincial Higher Education Institutions Scientific Research Self-Funded Project“Research on‘Blockchain+Supply Chain Finance’and Financing of Small and Medium-sized Enterprises in Hainan Free Trade Harbor”(Hnky2024ZC-23)。
文摘This paper explores the application of blockchain in Hainan’s supply chain finance,analyzing its impact on enhancing market transparency,optimizing processes,and addressing challenges like information asymmetry and inefficient credit transmission.It examines technical and security issues such as scalability and cross-chain interoperability,proposing solutions like layered architectures and privacy computing.The study highlights blockchain’s role in empowering cross-border trade,tropical agriculture,and SME financing,aiming to provide a reference for Hainan Free Trade Port’s financial digital transformation.
基金Exploration of the Impact of Financial Reforms in the Hainan Free Trade Port on Enterprises,General Project(Project No.:HKKY2024-13)。
文摘With the global advancement of the concept of sustainable development and environmental protection work,especially under the systematic deployment of green development in the report of the 20th National Congress of the Communist Party of China,the development of green finance in China has an increasingly significant impact on enterprise operation and management.Against the backdrop of the continuous deepening of green finance,it has multi-dimensional and profound impacts on enterprises’investment and financing decisions,resource allocation,and development strategies.Based on this,this paper focuses on the level of enterprises’investment and financing strategies,deeply analyzes the specific impacts of green finance development on enterprises,analyzes them in combination with practical problems,and then proposes corresponding optimization countermeasures,aiming to provide theoretical support and practical references for enhancing the core competitiveness of enterprises in the context of green finance.
基金supported by grant from the Zhejiang A&F University Scientific Research and Development Fund Talent Start-up Project:Impact and Mechanism Analysis of Green Finance on Low-Carbon Economic Development(2023FR031).
文摘The global climate crisis has become the focus of attention,and China vigorously pursues low-carbon economic development,for which the implementation of green finance is continuously enhanced,so does the development of green finance contribute to low-carbon economic development?This paper constructs a green finance and low carbon economic development index system containing several indicators,and measures them using the entropy weight method of spatial-temporal extreme difference.This paper conducts an empirical study based on the data of 30 provinces and cities from 2005 to 2020,and the results of the study find that green finance has policy incentive effect and institutional incentive effect,and can significantly and positively affect the development of low-carbon economy,and the findings still hold after endogeneity test and robustness test.The mechanism test shows that green finance can influence low-carbon economic development by promoting industrial structure upgrading,green technology innovation and FDI inflow;moreover,the positive promotion effect of green finance is more obvious in the western region and non-Yangtze River Economic Zone region;finally,the moderating effect test reveals that the institutional environment and the level of technology market development can enhance the relationship between green finance and low-carbon economic development.
文摘The development of artificial intelligence has brought tremendous changes to enterprises and also pose higher demands on financial professionals.Through literature research,this paper explores the viewpoints of domestic and foreign scholars and industry experts on the impact of Artificial Intelligence(AI)on corporate financial management and the role transformation of financial professionals.It analyzes the current application status of AI technology in finance.The results indicate that AI will replace some repetitive and highly procedural tasks,such as simple data entry and bookkeeping.AI can improve the processing speed and accuracy of corporate financial data.With its learning capabilities,AI can assist financial professionals in addressing knowledge gaps.However,AI cannot completely replace human thinking,judgment,and decision-making,especially in areas like emotional communication and aesthetic experience.This requires financial professionals to continuously improve their overall qualities,leverage their strengths,and achieve complementary advantages with machines,jointly promoting innovative financial development in the era of artificial intelligence.
文摘As an important tool to achieve sustainable economic and environmental development,green finance can effectively alleviate the financing constraints of small and medium-sized enterprises(SMEs),especially in promoting green transformation plays a key role.SMEs play an important role in economic growth,innovation,and job creation,but due to a lack of collateral,imperfect credit history,and opaque financial information,they face great obstacles in the financing process,especially in the early capital investment required for green transformation.Green finance,through innovative financial instruments such as green credit and green bonds,provides new financing channels for SMEs,helping them reduce financing costs,optimize financing structure,and promote their green transformation and sustainable development.This paper analyzes the current situation and root causes of SMEs’financing dilemma from the perspective of green finance,and probes into the influence of green finance policies on financing behavior.
文摘Digital financial inclusion provides financial services through digital platforms,aiming to improve the ability of MSMEs and low-income groups to access financial resources,thereby easing their financing constraints and promoting economic growth and inclusive development.As an innovative financial model,digital financial inclusion utilizes modern technological means to significantly improve the accessibility and convenience of financial services,especially in areas where traditional banking services are under-covered.Digital finance has promoted the popularization of financial services such as micro-credit,micro-savings,and micro-insurance,and helped improve the financing environment of low-income groups and small and micro enterprises.At the same time,digital financial inclusion promotes financial literacy education and digital inclusion construction,and enhances the acceptance and use of digital financial instruments by the general public,which is the key to achieving sustainable development of digital financial inclusion.Therefore,digital financial inclusion can better ease the financing constraints of small and medium-sized enterprises and promote economic development.
