The legalization of government budgets and the disclosure of financial information are the core goals of the reform of public budget governance, which are crucial for achieving the modernization of local financial governance. From the new perspective of legalizing government budgets,and taking advantage of the implementation of the new Budget Law in 2015, this study empirically analyzes the impact of budget system reform on the efficiency of local financial governance by employing the Intensity Dual Difference Model（DID）. The findings show that the implementation of the new Budget Law is conducive to the disclosure of financial information, thereby improving the efficiency of local fiscal expenditure. Further analysis shows that the legalization of government budgets can improve the efficiency of local fiscal expenditures by improving fiscal transparency and strengthening government audit supervision. The more perfect the market institutional environment, the higher the efficiency of government governance, and the higher the level of public attention, the more obvious the improvement effect of the implementation of the new Budget Law on the efficiency of local financial expenditure will be. Therefore, it is necessary to accelerate the construction of the rule of law in government budgeting, promote the transparency of financial information, improve the long-term mechanism of budget supervision, constraints, and performance management, improve the governance capacity of local governments, establish a budget collaborative governance system with good interaction between the government and the public, and fully leverage the financial governance effect of the implementation of the new Budget Law.
This paper uses the Staggered Difference in Differences (DID) method to study the effects of green local government special bonds on carbon emission intensity based on China's provincial panel data from 2014 to 2021. The carbon emission reduction effect of issuing green local government special bonds is more significant when the financial pressure is higher. The carbon emission reduction effect of green local government special bonds is more significant in regions with high local financial emphasis on environmental protection, and also more significant in economically developed regions and eastern regions and the pilot areas of green finance.
With the fast development of information technology, to push the reconstruction of value chain through digital transformation has become an important strategic measure for many enterprises. From the theoretical perspective of digital empowerment, this paper explores how traditional enterprises can use digital technology to empower value creators in digital transformation, and then studies the continuous restructuring of enterprise value chain by combining the vertical single case study of Renhe Group, a traditional pharmaceutical enterprise. The findings show that:（1） during the process of digital transformation of the traditional enterprise, corporate value chain reconstruction experiences the evolution path of “optimization of internal value chain--integration of industrial value chain--construction of ecological value chain”;（2） digital technology can exert effect on enterprise value chain reconstruction, mainly through the empowerment on employee, customer, cooperation, process and product;（3） digitization drives ecological value chain construction to be the new competitive model, the construction ecological value chain is the main direction for enterprise value chain reconstruction in the era of digital economy. During the digital transformation of the traditional enterprises in the era of digital economy, to present the evolution path model of value chain reconstruction provides some management enlightenment for the traditional enterprisesto obtain systematic competitive advantages by constructing an ecological value chain with the help of digital technology.
As a leading force in a new round of scientific and technological revolution and industrial transformation, artificial intelligence（AI） is bound to have a profound impact on the high-quality development. Based on the panel data of 283 cities in China from 2008 to 2019 and bringing the employment structure of the labor force with different skills into the analytical framework of AI and high-quality development, this paper conducts an empirical study. The findings show that the application of AI can promote the upgrading of urban industrial structure, raise the level of urban technological innovation and green and low carbon, so as to further promote the high-quality development of the cities. From the perspective of theoretical mechanism, the application of AI can promote high-quality urban development by reducing the employment share of low-skilled labors and increasing the employment share of high-skilled labors. From the perspective of different regions, the application of AI in the eastern region can significantly promote the high-quality development of the cities, and the high-skilled labor force will strengthen the impact of AI on the high-quality development; while the application of AI in the northeast region will significantly inhibit the high-quality development,and the low-skilled labor force will intensify the inhibition of AI on the high-quality development.The above conclusions suggest that the application of AI should be actively promoted to enable the high-quality development. Meanwhile, different regions should formulate differentiated AI development strategies according to the objective realities, such as employment structure and so on.
Cultural confidence is a more fundamental, profound, and enduring force in national development, and the sustainability of cultural product trade is an important aspect of high-quality development of cultural trade. This paper for the first time uses the survey data of the world values to quantify cultural confidence. Based on the data of bilateral sextant cultural product trade statistics from 76 countries and regions worldwide from 2008 to 2017, it studies the impact of cultural confidence on the duration of cultural product export trade with the analytical method of discrete time survival model. The research results indicate that the cultural confidence, with full recognition and firm confidence in China’s own excellent cultural values and cultural vitality as the important content, will play a significant promoting role in the sustainability of cultural product export trade. Social trust is an important channel for cultural confidence to promote the duration of cultural product export trade.Cultural confidence also plays a regulatory role in the relationship between cultural distance and the duration of cultural product trade, indirectly promoting the sustainability of cultural product export trade. Therefore, attaching great importance to the cultivation and enhancement of cultural confidence is of great guiding significance for promoting the sustainable development of China’s cultural product trade. The government should increase the excavation, protection, and promotion of excellent traditional culture, and expand the international influence and the influencing range of Chinese culture. Enterprises should fully attach importance to the integration and innovation of ethnic cultural elements in cultural products, making unique ethnic cultural resources the deepest foundation and richest nourishment for maintaining the long-term competitive advantage of cultural products.
