Moderating effect of corporate financialization on the impact of climate policy on corporate green innovation:Evidence from China

With intensifying global climate change,humanity is confronted with unparalleled environmental challenges and risks.This study employs the staggered difference-in-difference model to examine the relationship between climate policy and green innovation in the corporate financialization context.Using Chinese-listed company data from 2008 to 2020,our analysis reveals a favorable correlation between China’s carbon emission trading policy(CCTP)and advancements in green innovation.Furthermore,we find that the level of corporate financialization moderates this correlation,diminishing the driving effect of CCTP on green innovation.Additionally,results of heterogeneity analysis show that this moderating consequence is more evident in non-state owned and low-digitization enterprises compared with state-owned and high-digitization ones.Our findings contribute to the existing literature by clarifying the interaction between CCTP,green innovation,and corporate financialization.Our research provides valuable insights for policymakers and stakeholders seeking to strengthen climate policies and encourages green innovation in different types of businesses.

China’s Regional and Global Policy Through the Shanghai Cooperation Organization

China,as a new global power,is expanding its influence across the globe and regions through various strategies and means,including regional and global organizations,in the post-Cold War era.As a result,since the Shanghai Cooperation Organization(SCO)was established in 2001,China,as one of its major founders,had attempted to use the SCO as a platform for influence beyond its borders.This paper aims to investigate China’s growing influence and diplomatic prowess through the SCO.

China's Foreign Policy under New Circumstances (Ⅱ)

The Iraq war and the North Korean nuclear crisis are the two big events that are attracting worldwide attention. The many debates and changes that have arisen around the globe from these two issues, with the former in particular, cannot but cause

Major Features of the New Situation and China's Foreign Policy

Speaking of "China’s foreign policy under new circumstances," there are five features of the new circumstances in my opinion. All these five features will not fundamentally change in accordance with major events such as the Iraq war, and to a certain extent, determine that China’s basic foreign policy need not and will not make major adjustments.

The Behavioral Logic behind India’s Tough Foreign Policy toward China

Conflict between India and China at the Galwan Valley has brought their bilateral relations to the lowest point since the border war in 1962.Although this conflict appeared incidental,it in fact was the inevitable result of India's tough foreign policy featuring"high risk,high yield"pursued by the Modi administration toward China.The subsequent measures of India's tough diplomacy toward China have become more frequent,reflecting both a desire to seek revenge and a deep level of India's logic.Such logic considers not only the policy inertia of India's long-term pursuit of absolute security and dominance in the regional order.but also the intention of Modi's government to overtake China by taking advantages of India's favorable external strategic environment.The existing structural contradictions in China-India relations and the right-leaning tendencies in India's domestic political ecology have laid the groundwork for this conflict to occur and for the Modi administration to pursue a tough foreign policy toward China.This conflict has once again shown the rapid decay of the existing operational mechanism and architecture of thei bilateral relations,which can no longer smooth over the complex interactions between the two major emerging neighbors.As a result,the moment has arrived for China and India to restructure their relations,otherwise their relationship can hardly be continued.

New Visa Policy For Foreigners in China

The Exit and Entry Administration Law of the People＇s Republic of China （hereinafter Exit and Entry Law）, adopted by the National People＇s Congress in June of 2012, took effect on July 1, 2013. Relevant administrative regulations and rules, including those on the visa system and the employment of foreigners, are expected to be updated in accordance with the new law. The changes are aimed at addressing the illegal stay and illegal employment of foreigners living in China. According to the new law, visas for China are divided into four categories： diplomatic visa, courtesy visa, official visa and ordinary visa. The following are some important articles：

Empirical Study of China＇s Outward Foreign Direct Investment for 2001-2008

China＇s outward FDI has been increasing recently, as the country＇s policies over industrialization and national security change. Using financial data of 244 Chinese enterprises, this study empirically investigates the patterns and determinants of China＇s outward FDI from 2001 to 2008 for its seven major destinations. Tobit and multiple regression analyses indicate that early Chinese FDI in 2001 and 2002 is concentrated in the labor-intensive industries in Asia, like those of early Japanese FDI in the early 1970s as well as those of Korean FDI in 1990s. The results also indicate that non-production oriented manufacturers invested in North America, in order to seek for market cultivation, technological advance, R＆D skills, and name brands. We also found that the central state-owned enterprises are the key FDI players in the continents with locational disadvantages

CHINA'S FOREIGN TRADE PROSPECT IN 2002

China’s foreign trade volume hit US$509.77 billion in 2001, the figure represented 7.5% increase over the previous year. Of the total, exports topped US$266.16 billion, 6.8% up over the previous year, imports reached US$243.61 billion, up 8.2%, and accumulated trade surplus climbed to US$22.55 billion. The results were fairly outstanding if we take a general look at the world economy, which experienced significant slowdown in 2001 mainly due to the serious downturns in the United States and Japan. The increase can be attributed to a number of factors including the rise

A Corpus-Based Critical Discourse Analysis of Trump and Biden Administrations’China Policies

The theory of proximization is an effective discourse strategy to study the speaker’s ability to achieve his own legitimacy or reinforce the other’s illegitimacy,and its superiority can be maximized by means of quantitative and comparative analysis.In this study,we collected reports on Trump’s and Biden’s policies on China to build two small corpora,with a total of 11,030 words in the Trump corpus and 17,566 words in the Biden corpus.The critical discourse analysis is combined with proximization theory.With the help of BFSU Qualitative Coder 1.2,Antconc 3.5.7,and Log-Likelihood and Chi-Square Calculator 1.0,a critical cognitive score of the relevant discourse was conducted from the perspective of proximization theory.It has been found that:(1)Both Trump and Biden administrations resort to a large number of spatial proximization strategies to build ODCs converging to IDCs with China as the ODC,posing a threat to internal physical IDCs;(2)in the use of temporal proximization strategy,both administrations use primarily modal verbs and various entities to construct ODCs that extend indefinitely into the present and future,emphasizing the urgency and the threat of the effect and reinforcing the legitimacy of their actions;(3)in terms of axiological proximization strategy,the two administrations differ greatly from each other,indicating that there are still discursive biases.

On China's Foreign Trade Development and Linkage with the Customary Rules of International Trade

Although great differences exist between the trade systems of different countries,internationaltrade must go on in line with the customary international trade rules.As China’s economy developsand the socialist market economic system emerges,China is basically qualified to link up withcustomary international trade rules.In the Ninth Five-Year Plan period,China’s reform of its foreigntrade system aims at setting up a trade system that conforms with international trade practice.Forthe purpose,the author of this article suggests that a neutral trade policy should be adopted inaccordance with the international practice since it does not hinder exports,nor restrict imports toan excessive degree.

The Belt and Road Initiatives and China＇s Middle East Energy Policy

The paper analyses the roots of the Belt and Road Initiative as well as China＇s Middle East Energy Policy in an age of great transformation. China＇s rapidly progressed economic growth leading to a dramatic increase in China＇s energy demand in recent years. The Middle East countries play a critical role in the international energy markets. Stable relations with the Middle East countries become increasingly important for Chinese energy security, and the continued development. The protection of these relations lies at the core of the Belt and Road Initiative. Within The Belt and Road Initiative, Chinese Middle East energy policy proceeds according to the energy cooperation framework known as ＂1＋2＋3＂, which seeks to build a reliable China-Arab strategic cooperative relationship based on long-term friendship. To avoid over dependence on the energy resources of the Middle East, China will also continue to search for other overseas energy sources and protect transportation channels. Despite risks and challenges associated with energy imports from the Middle East, China has cultivated strong relations with states in the region and will develop these economic ties further in the coming years.

China's CDM Policies and Their Development Implications:Major Concerns for CDM Implementation

Most CDM (Clean Development Mechanism) opportunities exist in some large industrializing developing countries. For instance, China is estimated to take 48% of the world potential for CDM project activities. In reality, however, the share by China over the CDM projects registered and CDM projects in the pipeline is less than 10% as of Auguest 2005. This paper will examine the reasons behind, as reflected in China's CDM policies. Further investigation will be made into the use of these policies to boost the country's sustainable development, the sustainable development implications and effects of these policies. In addition, it is noted that incompatibility of some other Chinese laws and policies can be responsible for the low level and slow pace of CDM implementation in China and some suggestions are offered for promoting CDM project activities in China. There also exist barriers at the international level that impedes implementation of CDM project activities. A conclusion is drawn that CDM policies in a developing country like China aim mainly at promotion of sustainable development and to a lesser extent the generation of CERs.

Bush' s China Policy and the Future of Sino-U.S.Relations

The past two years have witnessed great fluctuations ininternational oil prices,and diplomatic efforts,both above andunder the table,by major powers around this issue.The currenttension in the war-threatened Iraq has added more uncertainties to thefuture world oil situation.Will the world oil supply and demand change?What impact would this exert on big powers’ oil strategy choices,geopolitics as well as world economy?What should China do in such asituation?To find the answers to these questions,at the invitation of theeditor of the Contemporary International Relations,seven experts fromChina Institute of Contemporary International Relations gathered to have adiscussion in early February this year.Naturally,they have differentviews over many issues.Still,we hope our readers would find theirdiscussion interesting.Following is the list of participants.

Explaining Japan＇s Shift to Foreign Policy Activism： Security Challenges and Perverse Political Accountability

The paper examines the root causes of Japan＇s rapid shift to foreign policy activism. To explain the causes, I develop the so-called ＂perverse political accountability＂ approach. Specifically, the approach claims that a growing security challenge from China and North Korea, and US policy favoring Japan＇s foreign policy activism structure. Japan＇s domestic political condition that the majority of Japanese people become more conservative and nationalistic. Such shift in the Japanese people＇s preference has been both creating and reinforcing a perverse accountability by which the leaders or parties willing to adopt hard-line foreign policies are better off electorally while the leaders or parties remaining soft-line on foreign affairs are worse off. The perverse accountability not only leads to a severe partisan imbalance between the conservative parties and the leftist parties, but also gives the most conservative party, e.g., the Liberal Democratic Party （LDP）, a greater chance of coming to office and of pursuing assertive foreign policy they favor. Thus, the perverse accountability is at the center of current Japan＇s turn to foreign policy activism. This finding contributes to an enhanced understanding for Japan＇s shift to assertive foreign policy.

The New Situation on the Korean Peninsula and China’s Diplomatic Policy

There are some positive changes on the two sides of the Korean Peninsula in 2018;the situation on the peninsula has released a signal of relaxation;it seems that the Korean Peninsula presents the “double suspension” situation which has been advocated by the Chinese government, and both the two sides of the Korean Peninsula have shown a strong will to ease the tension on the peninsula, and promote the inter-Korean relations to ease and improve the bilateral relations. As a close neighbor of the Korean Peninsula, in the face of the current situation on the peninsula, China should focus on deepening cooperation between China and the United States on the Korean nuclear issue, institutionalize the development of inter-Korean relations, and enhance its capability to resolve the Korean nuclear issue peacefully.

Readjustment in U.S. Foreign Policy

At the dawn of the new century, the Republicans returned to the White House after eight years in opposition. When President George W. Bush and his foreign policy team were striving to realize their diplomatic ambition, the events of September 11 led them to readjust their foreign policy, thereby a remarkable feature can be seen in Mr. Bush’s initial diplomacy.

China's Foreign Trade:from Quantitative Change to Qualitative Change

The latest General Customs'statistics showing that by November 20, 2004,China's foreign trade has topped 1 trillion and reached RMB 1.0017 trillion, marking a new leap of China's foreign trade. After entering the 1 trillion dollar period, it is on a new stage. Foreign trade, as a big stage for China's economic cooperation, shows the six features as No.1, top 3, 10%, US$10 billion, US$100 billion, and US$1 trillion.……