RMB Appreciation, Corporate Behavior and Export Trade：

This paper sets up a simplified dynamic discrete selection model to analyze two-stage decision of corporate export behavior and influence of exchange rate under the framework of profit maximization. Then we adopt Heckman selection model to estimate general effects and structural effects of RMB appreciation on export based on the sample data of China Industrial Enterprises from 2005 to 2009. Findings reveal that RMB appreciation has exerted a significant negative impact to corporate export through extensive margins and intensive margins. Meanwhile, due to different corporate strategies of heterogeneous enterprises, RMB appreciation cannot achieve the expected effect of ＂survival of the fittest＂ and is instead unfavorable to the optimization of export structure. RMB appreciatiou drives industry structure of export to evolve towards advanced levels to a certain extent. However, such a positive effect mainly derives from the contribution of foreign-funded enterprises while restricting development space of indigenous firms in the sector of advanced manufacturing.

Cross-border E-commerce and China's Exports during the COVID-19 Pandemic

China's exports experienced a rapid recovery after the outbreak of the 2019 COVID-19 pandemic.A primary engine was cross-border e-commerce(CBEC)trade,which bucked the downward export trend during the pandemic.By exploring the variation in the number of CBEC comprehensive pilot zones across provinces,we identified the causal impact of CBEC on exports using monthly province-product-destination data for 2019 and 2020.We found strong and robust evidence that CBEC contributed to exports during the pandemic by promoting the expansion of incumbent exports(intensive margin)rather than through the expansion of product categories and exporting partners(extensive margin).Specifically,higher pandemic risk suppressed the role of CBEC at the intensive margin while enhancing it at the extensive margin.Exports to developed countries benefited more from CBEC,both intensively and extensively.Compared with final products,a larger number of intermediate products were exported through CBEC after the outbreak of the pandemic.

Does ＂lnternet Plus＂ Promote New Export Space for Firms？ Evidence from China

Based on data from the Chinese Industrial Enterprises Database, this paper investigates the effect of ＂Internet Plus＂ on the trade destination mix at the enterprise level The analysis extends the classic dual margins to three dimensions： destination extensive, destination intensive and destination structural margins. The paper suggests that connecting to the internet not only raises Chinese firms＇propensity to export, but also extends the destination extensive margin. In addition, Internet Plus could create a synergistic effect for internet-enabled enterprises, that is, the development of the destination country＇s internet access benefits domestic firms＇export participation. Finally, the paper finds that lnternet Plus, rather than increasing the intensive or structural margins, leads to the transfer of exports to lower-middle-income countries and helps firms achieve competitiveness and thus increases their profit. The paper provides an explanatory mechanism and empirical evidence for firms ＇use of the internet to optimize export space.

How Do China's Importing Firms Respond to Non-taritf Measures?

After the formation of the World Trade Organization(WTO)in 1995,most countries gradually reduced their import tariffs to a fairly low level.However,the reduced tariffs could not he simply read as a reduction in trade barriers.Indeed,many suspect that countries tend to use more non-tariff measures(NTMs),substituting them for tariff barriers,to protect their domestic economies.This paper uses newly compiled and detailed Chinese NTM data,together with highly disaggregated firm import data and manufacturing firm operational data,to investigate the impact of China s import-related NTMs on firm imports.The main empirical results show that,as in the case of tariff barriers,China s trade policy NTMs mainly inhibit firms'intermediate imports.In contrast,China s public policy NTMs significantly improve the intensive and extensive margins of firm s intermediate imports and raise the prices and quality of imported inputs.The greater the extent to which a firm engages in processing trade,the larger is the promoting effect of public policy NTMs on the firm s import margins far intermediate inputs,and the greater is the restricting ejfect on the prices and the quality of the firm's imported inputs.

China's Penetration of the Korean Market:Stylized Facts and Welfare Effect

China＇s penetration of the world market has been impressive. This paper uses highly disaggregated Korean import data （from 1992 to 2008） to examine China ＇s penetration of the Korean market in the context of the composition of value （the extensive and intensive margins） and the product type （homogeneous and differentiated） in trade. The increase in Chinese imports has been attributed to the rapid increase in the import of new products （the extensive margin） and of existing products （the intensive margin）. However, the growth rate of new products decelerated in the 2000s. The growth in the intensive margin was due to quantity, not price. Chinese imports to Korea did not improve over the period in terms of quality. Although Chinese products became cheaper, they were more differentiated over time. Welfare gains were realized through the expanded introduction of new products from China. However, much of the gains from Korea＇s Chinese product import boom were realized in earlier years （1992 -2000） because even though imported products became more differentiated, the increase in the extensive margin was lower in more recent years （2001- 2008）.

Effects of Probe Support on the Stall Characteristics of a Low-Speed Axial Compressor

In order to investigate the effects of probe support on the stall characteristics of micro compressors, an experiment was carried out on a large-scale low-speed research compressor according to the principle of geometric similarity. A cylindrical probe support intruding to 50% blade span was mounted at 50% chord upstream from the rotor blade leading edge. The static pressure rise characteristic of the compressor is measured, with and without the probe support respectively. The dynamic compressor behavior from pre-stall to full stall was also measured. The results indicate that the stability margin of the compressor is lowered after installing the probe support. The stall inception is aroused by modal wave disturbances. The disturbances developed into two stall cells smoothly before installing the probe support, while the disturbances first developed into a single stall cell then splitting into two stall cells after installing the probe support. The presence of probe support lowers the initial intensity of the rotating stall of the compressor, while it doesn't alter the intensity of the rotation stall after the compressor enters into full stall.