10 Finance Measures Constituted by the Party's Central Committee to Support Enterprise Reform

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Research on Efficiency of Financial Supports in Agricultural Industrialization in China

The agricultural industry development in China has been very successful, but there exist some problems, such as weak financial support strength. With the help of DEA-Malmquist index method, this paper evaluated the efficiency of the agricultural industrialization＇s financial supports, made a deep study of its influencing factors, which have an extremely important influence on the perfect agricultural industrialization＇s development.

Sustainable Development of New Rural Finance in China

Rural finance is the weakest link in China's financial system. There are still many problems in the traditional rural finance, such as poor business conditions, imperfectly competitive financial markets, and credit information asymmetry; the phenomenon of farmers' loans difficulty has not been fundamentally changed. In order to improve the current situation of rural finance, the state proposes to develop new rural finance and innovate upon rural financial system. The new rural finance has many good development advantages, such as adequate information, flexible operation, and good potential quality of the assets. It is necessary to innovate upon financial products and services, establish the purpose of serving agriculture, countryside and farmers, strengthen the supervision of credit, and improve the financial infrastructure construction, so as to achieve sustainable developments.

Research on Financial Support for the New Types of Agricultural Management Entities from the Perspective of the Rural Revitalization Strategy

Both the escape from the predicament of traditional financial support in rural areas and the cultivation of new types of agricultural management entities underlie,at a micro level,the improvement of a new-type of agricultural management system,and offer an important guarantee for the implementation of a rural revitalization strategy.In reference to the demands of carrying out reform,activating factors,invigorating entities and stimulating markets during the implementation of this rural revitalization strategy,we are applying a financing preference theory that infers and analyzes the excessive preference for new-type agricultural management entities(family farms,specialized farmer cooperatives,specialized large family farms,and modern agricultural enterprises)regarding government subsidies(quasi-equity financing).Our analysis has identified crucial factors in the issue and predicts that government subsidies(quasi-equity financing)will crowd out financial support funding(quasi-debt financing),and we offer empirical proof obtained through statistical modeling.As our results indicate,financing costs,free cash flows,and the perceived income adequacy(PIA)of new-type agricultural management entities all have significant influence upon decision-making for debt financing by such entities.Therefore,with the concrete contents of the formulation of policies concerning the financial support for rural agricultural strategy,one not only needs to consider the further decrease of financing costs,but also should take into account both the designing of cash flow mechanism in the process of paying both principal and interest,and the improvement of bankruptcy rules for agricultural management entities to accelerate the transformation of family farms,specialized farmer cooperatives,and specialized large family farms,towards modern agricultural enterprises.Meanwhile,upgrades to the supply chains of the agriculture industry,improvements to the construction of the rural financial information system,building an accounting system that meets the requirements of the rural revitalization strategy,and giving full play to the policies for financial support,which assume an important role in activating factors and markets during the implementation of the rural revitalization strategy,are also anticipated.

Influence of Outflow of Rural Funds on Financial Support for Agriculture

Since the reform and opening-up,rural finance has made enormous contribution to rural economic development.However,with commercialization reform of financial institutions,the conflict between outflow of large funds and shortage of funds for rural economic development becomes prominent,leading to serious degradation of agricultural support function of rural finance.From the perspective of outflow of rural funds,this paper analyzes the problem of"deviation from agriculture"of rural financial business,and derives the conclusion that it is necessary and urgent to restore agricultural support function of rural finance.Then,it discusses restoration path for agricultural support function of rural finance.Finally,it comes up with some effective paths in accordance with existing problems in agricultural support function of rural finance.

Research on financial support in new rural reconstruction

The new rural reconstruction in China cannot develop without financial support. At present, the limitations on rural finance supply constitute one of the bottlenecks in the ＂Three Nongs＂ （agriculture, countryside and farmers） problems. The paper starts from the present situation, analyses the reasons why rural finance has current difficulties and puts forward proposals for policy reform.

区域市场一体化与企业数字化转型

区域市场一体化作为构建全国统一大市场的关键环节,是信息高效流通、资源有效配置的有力保障,对推动企业数字化转型起到重要支撑作用。基于“软信息—硬信息”分析框架的研究表明,区域市场一体化会促进企业数字化转型。这一结论在替换变量等一系列稳健性检验和内生性处理后依然成立;机制分析表明,区域市场一体化能破除软信息—硬信息瓶颈,通过数字知识获取和外部融资支持渠道促进企业数字化转型;异质性检验结果表明,区域市场一体化对企业数字化转型的影响效应在地区—行业—企业层面呈现差异,对东部沿海和基础设施较完善的地区、对竞争度较高和资本密集型的行业、对主动变革型和规模较小企业的促进作用更明显。

政策性农业保险对水土流失治理成效的影响研究

基于2009—2022年中国省级面板数据,采用面板数据固定效应模型,实证分析政策性农业保险对水土流失治理成效的影响效应和作用机制。结果表明:政策性农业保险对于水土流失治理成效具有显著促进作用,该结论在替换核心变量的测算方法、剔除直辖市、采用系统GMM方法和工具变量方法等稳健性检验后仍然成立。从区域来看,政策性农业保险对西部地区的水土流失治理成效尤为突出。从粮食产区来看,政策性农业保险对粮食产销平衡区的水土流失治理成效最为明显。从影响机制来看,政策性农业保险主要通过发挥脱贫攻坚、农业繁荣和金融普惠等效应提高水土流失治理成效。据此,建议将政策性农业保险发展嵌入乡村振兴战略,有效衔接贫困治理和防范规模性返贫风险,统筹地区发展差距和优化第一产业结构,加快完善多层次可持续农村金融服务体系。

金融科技驱动下中小企业融资机制的重构与优化策略研究

随着互联网技术的飞速发展,互联网金融为中小企业融资开辟了新途径和新模式,并且在中小企业融资中发挥着重要作用。中小企业传统融资模式在融资过程中面临诸多挑战,例如资本结构单一、企业自身实力不足及银企之间信息不对称等。因此,为解决困境,互联网金融凭借其低成本和广泛的融资渠道,为中小企业提供了新的解决方案。尽管互联网金融为解决中小企业的融资问题提供了新途径,但同时也存在一些风险。基于此,中小企业需要加强自身管理,提升信用水平,积极利用互联网金融平台拓宽融资渠道,才能更好地应对互联网金融环境下的融资问题,实现稳健发展。

Support Vector Machines Networks to Hybrid Neuro-Genetic SVMs in Portfolio Selection

Corporate net value is efficiently described on its stock price, offering investors a chance to include a potentially surplus value to the net worth of the overall investment portfolio. Financial analysis of corporations extracted from the accounting statements is constantly demanded to support decisions making of portfolio managers. Econometrics and Artificial Intelligence methods aim to extract hidden information from complex accounting and financial data. Support Vector Machines hybrids optimized in their components by Genetic Algorithms provide effective results in corporate financial analysis.

Implications of Overseas Farmland Financial Development for Financial Service Innovation in China's Rural Areas

Currently,there are many problems requiring to be solved urgently in the rural economic development in China,including farmers' difficulties in getting loans,difficulties in agricultural financing of small and medium-sized enterprises,disconnection of funds chain and serious information asymmetry.The roots of these problems are inadequate financial support and single as well as backward service pattern.The development of rural economy and improvement of farmers' life depend in large measure upon rural financial service system.Rural financial business system in western developed countries mainly consists of policy finance,cooperative finance and commercial finance[1].Development of land finance provides powerful fund circulation for rural finance.Western countries have relatively advanced legal systems and policies for rural financial support with land mortgage and land guarantee as the main methods,which can be used as reference,such as construction of rural financial system,innovation of rural financial service as well as supervision and control of rural financial risks.Through introducing relevant features of foreign farmland finance,this article discusses service innovation in the reform of China's rural financial system.

The Belt and Road Initiative and Financing Constraint for Chinese Enterprises

In the context of China’s proactive implementation of the Belt and Road Initiative(BRI),unraveling the BRI’s effect on corporate behavior is of vital importance to China’s policymaking on overseas investment.With the BRI’s enactment as a quasi-natural experiment,this paper employs the difference in differences(DID)method to investigate the BRI’s effect on the financing constraint for Chinese enterprises.Our study finds that the BRI’s implementation has significantly reduced financing constraints for BRI enterprises,and the effect is more significant for emerging advantageous industries and export-oriented node cities.

Supportive tactics for innovative and sustainability performance in emerging SMEs

For this research,we examined the influence of access to domestic and international financing on sustainability performance with a mediating role of innovative performance and a moderating role of access to government support.Data were collected from 317 small and medium-sized enterprises(SMEs)through structured questionnaires.The results indicated that access to domestic and international financing significantly contributes to sustainability and innovative performances.Accordingly,we found a partial mediating role of innovative performance between access to domestic financing and sustainability performance as well as between access to international financing and sustainability performance.Access to government support significantly moderates the relationship between access to domestic finances and innovative performance as well as between access to international finances and innovative performance.Practitioners and policymakers should encourage national and international financial institutions and banks to facilitate SMEs by lending them funds for innovative activities and sustainability performance.Moreover,the government should support SMEs,so that they can contribute to economic growth and the gross domestic product.The implications from these matters will be further discussed in this paper.

共同富裕目标下数字金融对农民收入的影响研究

本文利用2014—2021年我国29个省(区、市)的县级数据实证研究共同富裕目标下数字金融对农民收入的影响。研究结果表明:数字金融有利于增加农民收入,同时,缩小城乡收入差距和缩小农村内部收入差距,进而促进农民农村共同富裕;数字金融显著提升西部地区和受教育程度高的农民收入;数字金融通过扩大非农经营规模和促进非农就业规模来增加农民收入;政府支持在数字金融与农民收入的关系中具有调节作用,即随着政府支持力度增大,数字金融与农民收入的正向关系会增加。根据相应研究,本文提出拓展数字金融的使用、提高数字金融的素养和重视政府对数字金融的指导作用的政策建议。

数字金融推动新质生产力发展的逻辑解析、困境审视及路径设计

“新质生产力”概念是马克思主义生产力理论的最新成果,是加快实现中国式现代化的重要动力。数字金融推动新质生产力发展,主要依靠核心要素培育、科技创新支持、产业场景塑造三大逻辑,充分发挥资源配置功能,集中体现“新质”变化。数字金融紧密对接生产力变革的各个领域,提供人才、技术、资金支持,打造生产方式新质态、生产流程新质效,推动发展新技术、打造新产业、创造新动能,超前布局战略性新兴产业与未来产业发展。当前,各参与方应当注重推进数字金融服务普惠化与差异化,强调创新驱动在新质生产力发展中的核心地位,明确政策引领和法规监管对数字金融应用方向的指导规范作用,充分承担参与主体责任,为数字金融推动新质生产力发展铺平道路。

金融促进乡村全面振兴的立法进路

金融是现代经济的核心支撑,对乡村振兴具有不可或缺的推动作用。2024年中央一号文件提出“创新乡村振兴投融资机制”“发展农村数字普惠金融”,将金融服务乡村振兴的要求提到了新的历史高度。为有效纾解当前乡村金融供给不足、供需结构错位以及金融发展不充分、不平衡等难题,亟须坚持党的全面领导、坚持以人民为中心,以高质量发展和高水平安全为核心理念,从法治层面构建金融促进乡村振兴的制度规范,强化金融推动乡村资源要素高效配置的功能属性,以金融供给新模式、新生态推动农业农村现代化建设,促进乡村可持续发展。

意定监护制度的实践探索与完善对策研究——基于北京、上海经验的调研分析

意定监护是我国《民法典》确立的一项新制度,目前该制度的内容还比较粗略,在实施过程中出现监护人的权利义务不明确,应承担的责任不具体、监护人职责不明晰,监护人的权益保护机制匮乏、民事行为能力认定机械化,造成适用主体范围受限、监护监督机制不完善,监督方式滞后、被监护人群呈现出多元化趋势,特殊人群的需求未能得到兼顾等新问题与新挑战。通过梳理与总结北京、上海等地区的有益探索,可以总结出一些可供借鉴的宝贵经验。针对实践需求与发展趋势,我们应着眼于制度的有效实施,坚持问题导向,适时通过立法解释、司法解释和地方立法,继续细化意定监护配套规则,不断优化意定监护实施的配套机制,积极培育社会公共监护组织等,逐步化解制度实施过程中的难点与问题,形成一整套意定监护法律制度与配套机制,使意定监护制度成为适应我国人口老龄化与长寿的时代发展要求,有效服务于人口多元化、个性化养老新需求的先进制度。

基于支持向量机的农业中小企业供应链金融信用风险评价

农业供应链金融的发展,有效缓解了中小企业融资难的问题,但如何有效评估其信用风险尤为重要。针对农业中小企业,构建了供应链金融信用风险评估指标体系,并运用支持向量机建立了风险评估模型。经过对41组农业中小企业的数据进行训练和检验,发现该模型可以更准确地评估农业中小企业的信用风险,从而帮助商业银行等金融机构采取更有效的应对措施。

高水平开放下供应链金融国际化转型策略与政策支持体系研究

供应链金融作为推动国际贸易和投资发展的重要手段,面临着国际化转型的现实需求。本文分析了供应链金融国际化的高水平开放背景和发展趋势,指出我国供应链金融国际化转型面临的全新机遇与挑战,结合我国的典型实践经验,进一步探讨了不同的供应链金融国际化转型策略,以及供应链金融国际化转型的政策支持体系,包括关税政策、贸易便利化政策、自由贸易协定、金融支持政策和金融监管政策等在内的政府支持政策,以及涉及跨境融资、跨境结算、跨境风险管理和跨境金融创新政策在内的金融机构支持政策等,以期进一步推动供应链金融国际化转型与高质量发展,为政府、金融机构和相关企业决策提供有价值的参考借鉴。