The development of sustainable sludge management systems requires looking at them with a new vision in which the concepts of SD(Sustainable Development)must integrate those of CE(Circular Economy),both concepts subjec...The development of sustainable sludge management systems requires looking at them with a new vision in which the concepts of SD(Sustainable Development)must integrate those of CE(Circular Economy),both concepts subject to the principles of TD(Thermodynamics),thus allowing the adoption of actions that are all the more effective the more complete the evaluation of the social dimension has been.This involves a new“Way of thinking”which sees the sludge system as the“Locomotive”of the entire wastewater/sludge treatment train and is developed through“Ways of acting”which includes both“Technical”actions to maximize recoveries of useful materials and/or or energy,and“Socio/Institutional”actions to overcome barriers linked to local cultures and traditions,also considering that the specific local context heavily influences the choices capable of satisfying the concepts of CE.It follows the need of issuing realistic and applicable regulations and overcoming social barriers,such as lack of infrastructure and/or qualified personnel,to achieve an effective integration of the concepts of CE with the more general ones of sustainability.展开更多
This article focuses on how digital inclusive finance empowers the development of Liaoning’s marine economy.The research shows that while digital inclusive finance in Liaoning Province has grown rapidly in recent yea...This article focuses on how digital inclusive finance empowers the development of Liaoning’s marine economy.The research shows that while digital inclusive finance in Liaoning Province has grown rapidly in recent years,it still faces shortcomings in usage depth and coverage breadth.At present,digital inclusive finance has a significant empowering effect on Liaoning’s marine economy,but challenges remain,including insufficient coverage and limited application of infrastructure,imperfect data governance and risk control systems for the marine economy,and a mismatch between digital financial products and the needs of the marine industry.To address these issues,the article proposes optimized pathways for digital inclusive finance to support Liaoning’s marine economy:improving digital financial infrastructure to enhance service accessibility and efficiency;strengthening marine economic data governance to build an intelligent risk control system;innovating digital financial products to better align with industrial demands.展开更多
[Objectives]To study the factors influencing the tourism economy in Henan Province.[Methods]Using tourism-related data from Henan Province covering the period from 2000 to 2020,this study constructs a regression model...[Objectives]To study the factors influencing the tourism economy in Henan Province.[Methods]Using tourism-related data from Henan Province covering the period from 2000 to 2020,this study constructs a regression model based on multivariate statistical methods to investigate the determinants of the tourism economy.The dependent variable in the model is the domestic tourism revenue of Henan Province,while the independent variables comprise the number of tourist arrivals,total operational railway mileage,the number of travel agencies,and the per capita disposable income of urban residents.[Results]Both the total railway mileage and the per capita disposable income of urban residents are the primary factors influencing the development of Henan's tourism economy.[Conclusions]It is recommended to reduce uncertainty and liquidity constraints to mitigate residents'precautionary savings behavior,actively expand domestic demand to leverage tourism as an economic driver,and improve infrastructure to support tourism development.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
With increasingly severe global climate change,a low-carbon economy has become an inevitable trend in the development of the international community.Low-carbon economy is not only related to environmental protection b...With increasingly severe global climate change,a low-carbon economy has become an inevitable trend in the development of the international community.Low-carbon economy is not only related to environmental protection but also has a profound impact on international trade.The purpose of this paper is to explore the impact of a low-carbon economy on the development of international trade and put forward corresponding strategy suggestions.By analyzing the connotation,characteristics,and mechanism of the low-carbon economy on international trade,this paper reveals the important role of the low-carbon economy in promoting the optimization of international trade structure,promoting green technology innovation,and strengthening international cooperation.At the same time,given the challenges brought by a low-carbon economy,this paper puts forward strategies such as strengthening policy guidance,promoting green technology innovation,and improving international trade rules to provide a reference for the sustainable development of international trade[1,2].展开更多
With the advent of the digital-intelligence economy era,intelligence and networking have profoundly changed people’s lifestyles and working methods,and also posed new challenges and requirements for enterprise manage...With the advent of the digital-intelligence economy era,intelligence and networking have profoundly changed people’s lifestyles and working methods,and also posed new challenges and requirements for enterprise management.Against this background,modern management has become a new trend in the transformation of enterprise management.Based on this,this paper conducts research on the modernization transformation path of enterprise management in the digital-intelligence economy era,expounds the impact of the digital-intelligence economy on enterprise management in China,analyzes the connotation of modernization of enterprise management,and proposes the modernization transformation path of enterprise management,aiming to provide theoretical reference and practical guidance for enterprises to achieve modern management in the wave of the digital-intelligence economy.展开更多
Against the backdrop of the rapid development of digitalization today,the platform economy,as an emerging economic form,is profoundly changing the operation mode and resource allocation methods of the labor market.The...Against the backdrop of the rapid development of digitalization today,the platform economy,as an emerging economic form,is profoundly changing the operation mode and resource allocation methods of the labor market.The efficiency of labor resource allocation is an important indicator to measure the vitality and potential of economic development in a country or region.It is not only related to the welfare level of workers but also directly affects the productivity level and development quality of the entire society.With the help of modern information technology means such as Internet technology,big data algorithms,and mobile communication devices,the platform economy closely connects originally scattered individual workers with employers,building a large and complex networked trading platform.Based on this,this paper focuses on the impact and role of the platform economy on the efficiency of labor resource allocation,aiming to stabilize the efficient operation of the labor market.展开更多
Green development and the low-carbon economy in China have operated as parallel,distinct systems,with interactions limited to energy,industry,and technology.Guided by the concept of high-quality growth,green developm...Green development and the low-carbon economy in China have operated as parallel,distinct systems,with interactions limited to energy,industry,and technology.Guided by the concept of high-quality growth,green development—centered on sustainability principles and green targets—has focused on green living,production,industrial optimization,system-building,land-use planning,and global ecological objectives,thereby forming a uniquely Chinese green development framework.Similarly,the low-carbon economy,structured around carbon emission goals,development drivers,models of growth,management mechanisms,and international carbon responsibilities,has also developed a distinct framework.Introducing digital intelligence as a new dimension can serve as a coupling point to foster interactive mechanisms between green development and the low-carbon economy.These interactive mechanisms are reflected through smart green cloud collaboration systems and intelligent low-carbon governance platforms,using digital intelligence technology to enhance the synergy between green and low-carbon efforts in energy,carbon management,technology,innovation,governance,and the economy.Through analyzing these mechanisms,and returning to sustainability principles while responding to China's modern development philosophy,a uniquely Chinese theory and framework for green and low-carbon development can be constructed.展开更多
The digital economy has significant positive externalities in promoting the sustainable development of enterprises,providing an important opportunity for enterprises to improve their ESG performance.Through analysis,i...The digital economy has significant positive externalities in promoting the sustainable development of enterprises,providing an important opportunity for enterprises to improve their ESG performance.Through analysis,it is found that the digital economy has a huge impact on enterprise performance,mainly through three mechanisms:promoting environmental performance,strengthening social responsibility,and optimizing the governance structure.The research results of this paper help to expand the understanding of the dividend effect of the digital economy and deepen the theoretical understanding of the sustainable development of enterprises in the context of the digital economy.展开更多
Taking Zhejiang Province as an example,this paper explores the mechanisms and implementation pathways through which the low-altitude economy drives the transformation and upgrading of the tourism industry.It finds tha...Taking Zhejiang Province as an example,this paper explores the mechanisms and implementation pathways through which the low-altitude economy drives the transformation and upgrading of the tourism industry.It finds that the low-altitude economy can effectively promote the development of high-end and diversified tourism in Zhejiang by innovating tourism formats,optimizing resource allocation,and enhancing tourist experiences.Besides,it analyzes the current development status of the low-altitude economy in Zhejiang and its potential for integration with tourism,revealing specific enabling pathways for tourism transformation,including low-altitude sightseeing,aviation tourism,and low-altitude sports.Finally,it proposes policy recommendations such as strengthening policy support,enhancing infrastructure development,and cultivating market entities.The findings aim to provide theoretical references and practical guidance for the high-quality development of tourism in Zhejiang Province.展开更多
The rapid development of the digital economy profoundly impacts global industries,presenting both opportunities and challenges for traditional sectors like petroleum.This study investigates the impact of the digital e...The rapid development of the digital economy profoundly impacts global industries,presenting both opportunities and challenges for traditional sectors like petroleum.This study investigates the impact of the digital economy on the performance of Chinese petroleum enterprises,focusing on the mediating role of total factor productivity(TFP).Utilizing panel data from Chinese petroleum firms(2018–2023),we construct a macro digital economy development index(using the entropy method)and a micro-level enterprise digital transformation index.Empirical analysis employs panel data models and mediation effect models.Findings reveal that regional digital economy development significantly positively affects firms’Tobin’s Q(coefficient=0.516).Enterprise digital transformation significantly enhances Return on Equity(ROE)(coefficient=27.456).Mediation tests confirm that TFP partially mediates the relationship between digital transformation and firm performance.Heterogeneity analysis shows differences based on ownership:regional digital economy development has a slightly stronger effect on state-owned enterprises’(SOEs)market value,while its effect is statistically more significant for private enterprises.Conversely,digital transformation boosts ROE more significantly in private firms.The study concludes with policy recommendations,including promoting digital governance reform in SOEs,increasing support for private firms’digitalization,building a digital technology innovation ecosystem to enhance TFP,and optimizing digital investment structures for better capital market recognition.展开更多
Objective To study the importance of digital economy to promote the innovation development of enterprises under the background of the era of information technology reform.Methods The maximum entropy method was used to...Objective To study the importance of digital economy to promote the innovation development of enterprises under the background of the era of information technology reform.Methods The maximum entropy method was used to measure the comprehensive level of digital economy development at provincial level.Besides,the impact of digital economy on the innovation performance of pharmaceutical industry was investigated empirically by using A-share pharmaceutical companies listed in China from 2013 to 2020 as a research sample,and the mediating mechanism of R&D investment and financing constraints on the impact was examined.Results and Conclusion It is found that digital economy is significantly and positively related to the innovation performance of enterprises.The mechanism test shows that digital economy improves innovation performance through the expansion effect of R&D investment and alleviating financing constraints.In the context that digital economy has become a new driving force for enterprise innovation,the combination of digital economy and real economy should be actively promoted,R&D investment in pharmaceutical enterprises should be increased,and financing channels should be broadened.展开更多
As a novel economic paradigm that drives high-quality economic development,the digital economy(DE)can potentially significantly enhance the utilization efficiency of ecological resources and improve human well-being.B...As a novel economic paradigm that drives high-quality economic development,the digital economy(DE)can potentially significantly enhance the utilization efficiency of ecological resources and improve human well-being.Based on panel data from 285 prefecture-level cities in China spanning 2011-2021,this study empirically investigates the direct effects,transmission mechanisms,and spatial spillover effects of the DE on ecological welfare performance(EWP)using benchmark regression,intermediary effects,and spatial Durbin models.The results show that the DE significantly improved EWP in Chinese cities.This conclusion remains valid even after controlling for relevant influencing factors.Two transmission paths—upgrading of the industrial structure(UIS)and green innovation(GI)—significantly impacted EWP,as verified by the mediation effect model.Additionally,the mediating effect of the UIS was stronger than that of GI.Spatial heterogeneity tests show that the DE had significant effects on the EWP of eastern cities,with little impact on the central and western cities.Accordingly,grounded in regional developmental disparities,the empowering effects of the DE must be fully harnessed to foster an ecological civilization and enhance the well-being of the populace.展开更多
In the backdrop of“dual-carbon”strategic objectives,understanding the influence of the digital economy(DE)on carbon emissions(CEs)is imperative.However,there is limited research on the DE’s negative impact on CEs a...In the backdrop of“dual-carbon”strategic objectives,understanding the influence of the digital economy(DE)on carbon emissions(CEs)is imperative.However,there is limited research on the DE’s negative impact on CEs and the nonlinear relationship between the DE and CE.To address this gap,we collected data from 270 Chinese cities from 2011 to 2021 and used benchmark regression,mediated effects,and panel threshold models to explore the DE’s impact on CEs.The results showed that DE had a nonlinear,inverted U-shaped effect on CEs,with CEs initially increasing and then being suppressed.This conclusion remained consistent even after a series of robustness tests.Overall,the rate of urbanization and breadth of digital financial coverage mediate the relationship between the DE and CEs.Additionally,the combined effects of economic development,environmental regulation,fiscal decentralization,and population size contribute to the DE’s nonlinear impact on CEs.The impact of the DE on CEs varies among nonresource-based,resource-based,and resource-depleted cities and between urban and nonurban agglomerations.This paper’s findings support the development of the DE and the formulation of CE reduction policies.展开更多
文摘The development of sustainable sludge management systems requires looking at them with a new vision in which the concepts of SD(Sustainable Development)must integrate those of CE(Circular Economy),both concepts subject to the principles of TD(Thermodynamics),thus allowing the adoption of actions that are all the more effective the more complete the evaluation of the social dimension has been.This involves a new“Way of thinking”which sees the sludge system as the“Locomotive”of the entire wastewater/sludge treatment train and is developed through“Ways of acting”which includes both“Technical”actions to maximize recoveries of useful materials and/or or energy,and“Socio/Institutional”actions to overcome barriers linked to local cultures and traditions,also considering that the specific local context heavily influences the choices capable of satisfying the concepts of CE.It follows the need of issuing realistic and applicable regulations and overcoming social barriers,such as lack of infrastructure and/or qualified personnel,to achieve an effective integration of the concepts of CE with the more general ones of sustainability.
文摘This article focuses on how digital inclusive finance empowers the development of Liaoning’s marine economy.The research shows that while digital inclusive finance in Liaoning Province has grown rapidly in recent years,it still faces shortcomings in usage depth and coverage breadth.At present,digital inclusive finance has a significant empowering effect on Liaoning’s marine economy,but challenges remain,including insufficient coverage and limited application of infrastructure,imperfect data governance and risk control systems for the marine economy,and a mismatch between digital financial products and the needs of the marine industry.To address these issues,the article proposes optimized pathways for digital inclusive finance to support Liaoning’s marine economy:improving digital financial infrastructure to enhance service accessibility and efficiency;strengthening marine economic data governance to build an intelligent risk control system;innovating digital financial products to better align with industrial demands.
文摘[Objectives]To study the factors influencing the tourism economy in Henan Province.[Methods]Using tourism-related data from Henan Province covering the period from 2000 to 2020,this study constructs a regression model based on multivariate statistical methods to investigate the determinants of the tourism economy.The dependent variable in the model is the domestic tourism revenue of Henan Province,while the independent variables comprise the number of tourist arrivals,total operational railway mileage,the number of travel agencies,and the per capita disposable income of urban residents.[Results]Both the total railway mileage and the per capita disposable income of urban residents are the primary factors influencing the development of Henan's tourism economy.[Conclusions]It is recommended to reduce uncertainty and liquidity constraints to mitigate residents'precautionary savings behavior,actively expand domestic demand to leverage tourism as an economic driver,and improve infrastructure to support tourism development.
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.
文摘With increasingly severe global climate change,a low-carbon economy has become an inevitable trend in the development of the international community.Low-carbon economy is not only related to environmental protection but also has a profound impact on international trade.The purpose of this paper is to explore the impact of a low-carbon economy on the development of international trade and put forward corresponding strategy suggestions.By analyzing the connotation,characteristics,and mechanism of the low-carbon economy on international trade,this paper reveals the important role of the low-carbon economy in promoting the optimization of international trade structure,promoting green technology innovation,and strengthening international cooperation.At the same time,given the challenges brought by a low-carbon economy,this paper puts forward strategies such as strengthening policy guidance,promoting green technology innovation,and improving international trade rules to provide a reference for the sustainable development of international trade[1,2].
文摘With the advent of the digital-intelligence economy era,intelligence and networking have profoundly changed people’s lifestyles and working methods,and also posed new challenges and requirements for enterprise management.Against this background,modern management has become a new trend in the transformation of enterprise management.Based on this,this paper conducts research on the modernization transformation path of enterprise management in the digital-intelligence economy era,expounds the impact of the digital-intelligence economy on enterprise management in China,analyzes the connotation of modernization of enterprise management,and proposes the modernization transformation path of enterprise management,aiming to provide theoretical reference and practical guidance for enterprises to achieve modern management in the wave of the digital-intelligence economy.
文摘Against the backdrop of the rapid development of digitalization today,the platform economy,as an emerging economic form,is profoundly changing the operation mode and resource allocation methods of the labor market.The efficiency of labor resource allocation is an important indicator to measure the vitality and potential of economic development in a country or region.It is not only related to the welfare level of workers but also directly affects the productivity level and development quality of the entire society.With the help of modern information technology means such as Internet technology,big data algorithms,and mobile communication devices,the platform economy closely connects originally scattered individual workers with employers,building a large and complex networked trading platform.Based on this,this paper focuses on the impact and role of the platform economy on the efficiency of labor resource allocation,aiming to stabilize the efficient operation of the labor market.
基金supported by the National Natural Science Foundation of China(Grant No.23FJYB011).
文摘Green development and the low-carbon economy in China have operated as parallel,distinct systems,with interactions limited to energy,industry,and technology.Guided by the concept of high-quality growth,green development—centered on sustainability principles and green targets—has focused on green living,production,industrial optimization,system-building,land-use planning,and global ecological objectives,thereby forming a uniquely Chinese green development framework.Similarly,the low-carbon economy,structured around carbon emission goals,development drivers,models of growth,management mechanisms,and international carbon responsibilities,has also developed a distinct framework.Introducing digital intelligence as a new dimension can serve as a coupling point to foster interactive mechanisms between green development and the low-carbon economy.These interactive mechanisms are reflected through smart green cloud collaboration systems and intelligent low-carbon governance platforms,using digital intelligence technology to enhance the synergy between green and low-carbon efforts in energy,carbon management,technology,innovation,governance,and the economy.Through analyzing these mechanisms,and returning to sustainability principles while responding to China's modern development philosophy,a uniquely Chinese theory and framework for green and low-carbon development can be constructed.
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The digital economy has significant positive externalities in promoting the sustainable development of enterprises,providing an important opportunity for enterprises to improve their ESG performance.Through analysis,it is found that the digital economy has a huge impact on enterprise performance,mainly through three mechanisms:promoting environmental performance,strengthening social responsibility,and optimizing the governance structure.The research results of this paper help to expand the understanding of the dividend effect of the digital economy and deepen the theoretical understanding of the sustainable development of enterprises in the context of the digital economy.
文摘Taking Zhejiang Province as an example,this paper explores the mechanisms and implementation pathways through which the low-altitude economy drives the transformation and upgrading of the tourism industry.It finds that the low-altitude economy can effectively promote the development of high-end and diversified tourism in Zhejiang by innovating tourism formats,optimizing resource allocation,and enhancing tourist experiences.Besides,it analyzes the current development status of the low-altitude economy in Zhejiang and its potential for integration with tourism,revealing specific enabling pathways for tourism transformation,including low-altitude sightseeing,aviation tourism,and low-altitude sports.Finally,it proposes policy recommendations such as strengthening policy support,enhancing infrastructure development,and cultivating market entities.The findings aim to provide theoretical references and practical guidance for the high-quality development of tourism in Zhejiang Province.
文摘The rapid development of the digital economy profoundly impacts global industries,presenting both opportunities and challenges for traditional sectors like petroleum.This study investigates the impact of the digital economy on the performance of Chinese petroleum enterprises,focusing on the mediating role of total factor productivity(TFP).Utilizing panel data from Chinese petroleum firms(2018–2023),we construct a macro digital economy development index(using the entropy method)and a micro-level enterprise digital transformation index.Empirical analysis employs panel data models and mediation effect models.Findings reveal that regional digital economy development significantly positively affects firms’Tobin’s Q(coefficient=0.516).Enterprise digital transformation significantly enhances Return on Equity(ROE)(coefficient=27.456).Mediation tests confirm that TFP partially mediates the relationship between digital transformation and firm performance.Heterogeneity analysis shows differences based on ownership:regional digital economy development has a slightly stronger effect on state-owned enterprises’(SOEs)market value,while its effect is statistically more significant for private enterprises.Conversely,digital transformation boosts ROE more significantly in private firms.The study concludes with policy recommendations,including promoting digital governance reform in SOEs,increasing support for private firms’digitalization,building a digital technology innovation ecosystem to enhance TFP,and optimizing digital investment structures for better capital market recognition.
文摘Objective To study the importance of digital economy to promote the innovation development of enterprises under the background of the era of information technology reform.Methods The maximum entropy method was used to measure the comprehensive level of digital economy development at provincial level.Besides,the impact of digital economy on the innovation performance of pharmaceutical industry was investigated empirically by using A-share pharmaceutical companies listed in China from 2013 to 2020 as a research sample,and the mediating mechanism of R&D investment and financing constraints on the impact was examined.Results and Conclusion It is found that digital economy is significantly and positively related to the innovation performance of enterprises.The mechanism test shows that digital economy improves innovation performance through the expansion effect of R&D investment and alleviating financing constraints.In the context that digital economy has become a new driving force for enterprise innovation,the combination of digital economy and real economy should be actively promoted,R&D investment in pharmaceutical enterprises should be increased,and financing channels should be broadened.
基金funded by the Natural Science Foundation of Shandong Province[Grant No.ZR2022MD104]Rizhao Natural Science Foundation Youth Fund Project[Grant No.RZ2021ZR36]Taishan Scholars Youth Expert Support Plan of Shandong Province[Grant No.tsqn202306183].
文摘As a novel economic paradigm that drives high-quality economic development,the digital economy(DE)can potentially significantly enhance the utilization efficiency of ecological resources and improve human well-being.Based on panel data from 285 prefecture-level cities in China spanning 2011-2021,this study empirically investigates the direct effects,transmission mechanisms,and spatial spillover effects of the DE on ecological welfare performance(EWP)using benchmark regression,intermediary effects,and spatial Durbin models.The results show that the DE significantly improved EWP in Chinese cities.This conclusion remains valid even after controlling for relevant influencing factors.Two transmission paths—upgrading of the industrial structure(UIS)and green innovation(GI)—significantly impacted EWP,as verified by the mediation effect model.Additionally,the mediating effect of the UIS was stronger than that of GI.Spatial heterogeneity tests show that the DE had significant effects on the EWP of eastern cities,with little impact on the central and western cities.Accordingly,grounded in regional developmental disparities,the empowering effects of the DE must be fully harnessed to foster an ecological civilization and enhance the well-being of the populace.
基金supported by the National Social Science Foundation of China(Grant No.22BTJ048)the National Natural Science Foundation of China(Grant No.72403001)+4 种基金the Social Sciences Planning Youth Project of Anhui Province(Grant No.AHSKQ2022D138)the Natural Science Foundation of Anhui Province(Grant No.2408085QG228)the Anhui Province Excellent Young Talents Fund Program of Higher Education Institutions(Grant No.2023AH030015)the Innovation Development Research Project of Anhui Province(Grant No.2023CX507)the Scientific Research Project of Anhui University of Finance and Economics(Grant No.ACYC2022505).
文摘In the backdrop of“dual-carbon”strategic objectives,understanding the influence of the digital economy(DE)on carbon emissions(CEs)is imperative.However,there is limited research on the DE’s negative impact on CEs and the nonlinear relationship between the DE and CE.To address this gap,we collected data from 270 Chinese cities from 2011 to 2021 and used benchmark regression,mediated effects,and panel threshold models to explore the DE’s impact on CEs.The results showed that DE had a nonlinear,inverted U-shaped effect on CEs,with CEs initially increasing and then being suppressed.This conclusion remained consistent even after a series of robustness tests.Overall,the rate of urbanization and breadth of digital financial coverage mediate the relationship between the DE and CEs.Additionally,the combined effects of economic development,environmental regulation,fiscal decentralization,and population size contribute to the DE’s nonlinear impact on CEs.The impact of the DE on CEs varies among nonresource-based,resource-based,and resource-depleted cities and between urban and nonurban agglomerations.This paper’s findings support the development of the DE and the formulation of CE reduction policies.
