Temporal and spatial evolution of global major grain trade patterns

The complex and volatile international landscape has significantly impacted global grain supply security. This study uses a complex network analysis model to examine the evolution and trends of the global major grain trade from 1990 to 2020, focusing on network topology, centrality ranking, and community structure. There are three major findings. First, the global major grain trade network has expanded in scale, with a growing emphasis on diversification and balance. During the study period, the United States, Canada, China, and Brazil were the core nodes of the network. Grain-exporting countries were mainly situated in Asia, the Americas, and Europe, and importing countries in Asia, Africa, and Europe. Second, a significant increase in the number of high centrality countries with high export capacity occurred, benefiting from natural advantages such as fertile land and favorable climates. Third, the main global grain trade network is divided into four communities, with the Americas-Europe community being the largest and most widespread. The formation of the community pattern was influenced by geographic proximity, driven by the core exporting countries. Therefore, the world needs to enhance the existing trade model, promote the multi-polarization of the grain trade network, and establish a global vision for the future community. Countries and regions should participate actively in global grain trade security governance and institutional reform, expand trade links with other countries, and optimize import and export policies to reduce trade risks.

Impact of BRICS Trade Facilitation on China's Exports Using Cross-Border E-Commerce

With the rapid growth of the global digital economy, cross-border e-commerce, as an emerging form of trade, has gradually become a powerful engine to promote the development of global trade. BRICS is an important force in the global economy, and the progress of the BRICS countries' trade facilitation level has an important impact on the global trade environment. This paper conducts an in-depth study of the dynamic changes in BRICS trade facilitation from 2013 to 2022, and uses an extended gravity model to analyze the specific impact of this change on China's exports using cross-border e-commerce. The results show that although the BRICS countries have made some progress in trade facilitation, the overall level still needs to be improved, and there are obvious differences among member countries. However, the improvement of trade facilitation among BRICS countries has undoubtedly brought significant positive effects to China's exports using cross-border e-commerce.

Electricity Carbon Quota Trading Scheme based on Certificateless Signature and Blockchain

The carbon tradingmarket can promote“carbon peaking”and“carbon neutrality”at low cost,but carbon emission quotas face attacks such as data forgery,tampering,counterfeiting,and replay in the electricity trading market.Certificateless signatures are a new cryptographic technology that can address traditional cryptography’s general essential certificate requirements and avoid the problem of crucial escrowbased on identity cryptography.However,most certificateless signatures still suffer fromvarious security flaws.We present a secure and efficient certificateless signing scheme by examining the security of existing certificateless signature schemes.To ensure the integrity and verifiability of electricity carbon quota trading,we propose an electricity carbon quota trading scheme based on a certificateless signature and blockchain.Our scheme utilizes certificateless signatures to ensure the validity and nonrepudiation of transactions and adopts blockchain technology to achieve immutability and traceability in electricity carbon quota transactions.In addition,validating electricity carbon quota transactions does not require time-consuming bilinear pairing operations.The results of the analysis indicate that our scheme meets existential unforgeability under adaptive selective message attacks,offers conditional identity privacy protection,resists replay attacks,and demonstrates high computing and communication performance.

An Energy Trading Method Based on Alliance Blockchain and Multi-Signature

Blockchain,known for its secure encrypted ledger,has garnered attention in financial and data transfer realms,including the field of energy trading.However,the decentralized nature and identity anonymity of user nodes raise uncertainties in energy transactions.The broadcast consensus authentication slows transaction speeds,and frequent single-point transactions in multi-node settings pose key exposure risks without protective measures during user signing.To address these,an alliance blockchain scheme is proposed,reducing the resource-intensive identity verification among nodes.It integrates multi-signature functionality to fortify user resources and transac-tion security.A novel multi-signature process within this framework involves neutral nodes established through central nodes.These neutral nodes participate in multi-signature’s signing and verification,ensuring user identity and transaction content privacy.Reducing interactions among user nodes enhances transaction efficiency by minimizing communication overhead during verification and consensus stages.Rigorous assessments on reliability and operational speed highlight superior security performance,resilient against conventional attack vectors.Simulation shows that compared to traditional solutions,this scheme has advantages in terms of running speed.In conclusion,the alliance blockchain framework introduces a novel approach to tackle blockchain’s limitations in energy transactions.The integrated multi-signature process,involving neutral nodes,significantly enhances security and privacy.The scheme’s efficiency,validated through analytical assessments and simulations,indicates robustness against security threats and improved transactional speeds.This research underscores the potential for improved security and efficiency in blockchain-enabled energy trading systems.

Unleashing the Power of Multi-Agent Reinforcement Learning for Algorithmic Trading in the Digital Financial Frontier and Enterprise Information Systems

In the rapidly evolving landscape of today’s digital economy,Financial Technology(Fintech)emerges as a trans-formative force,propelled by the dynamic synergy between Artificial Intelligence(AI)and Algorithmic Trading.Our in-depth investigation delves into the intricacies of merging Multi-Agent Reinforcement Learning(MARL)and Explainable AI(XAI)within Fintech,aiming to refine Algorithmic Trading strategies.Through meticulous examination,we uncover the nuanced interactions of AI-driven agents as they collaborate and compete within the financial realm,employing sophisticated deep learning techniques to enhance the clarity and adaptability of trading decisions.These AI-infused Fintech platforms harness collective intelligence to unearth trends,mitigate risks,and provide tailored financial guidance,fostering benefits for individuals and enterprises navigating the digital landscape.Our research holds the potential to revolutionize finance,opening doors to fresh avenues for investment and asset management in the digital age.Additionally,our statistical evaluation yields encouraging results,with metrics such as Accuracy=0.85,Precision=0.88,and F1 Score=0.86,reaffirming the efficacy of our approach within Fintech and emphasizing its reliability and innovative prowess.

Sharing Smart Services,Jointly Promoting Trade Development

In 2024,the China International Fair for Trade in Services (hereinafter referred to as CIFTIS) opened in the China National Convention Center and Shougang Park on September 12th.The theme of the CIFTIS this time was"global services,shared prosperity",which is not only a window for allowing the world to discover the development of China's service trade,but is also a bridge for promoting global cooperation with regards to the service trade.As one of the world-famous service trade events,the CIFTIS has become an important business card allowing China to open up.The CIFTIS has attracted the attention of the whole world and become a bridge for all parties to share development opportunities,promote industrial growth,and strengthen communication.

World Trade Organization Reform and the Role of the Global South

Under the impact of unilateralism and protectionism,trade disputes among countries have increased in recent years,bringing uncertainty to global trade and jeopardizing the multilateral trading system.The World Trade Organization(WTO)plays a crucial role in the development of the global economy and trade.It also plays a key role in maintaining a fair,open and sustainable international trade environment,and provides a solid foundation for the development of global economy and trade.As the Global South has played an important role in promoting WTO reform and safeguarding the rights and interests of developing countries,it’s important to further strengthen its solidarity,actively participate in the reform of the global trade governance system and promote the building of a more open,fair and balanced global trade environment.

Production and trade trend of oils and oilseeds in BRICS countries

In order to promote agricultural production and trade cooperation among BRICS countries,and ensure the security and stability of the oils and oilseeds industrial and supply chains in China and the world,the production,consumption,trade trend,and cooperation potential of oils and oilseeds in BRICS countries were expounded,and relevant policy recommendations were put forward.Most of the BRICS countries are major agricultural producers,and they are also important agricultural product consumption markets in the world.In 2023/2024,the production and consumption of oilseeds in BRICS countries account for nearly half of the world's total;the production of vegetable oils exceeds a quarter of the world's total,and the consumption of vegetable oils accounts for 40%of the world's total.In 2023/2024,the import and export volume of oilseeds exceeds half of the world's total;vegetable oil imports account for 40%of the world's total,and exports account for about one tenth of the world's total.China's imports of oilseeds and oils from BRICS countries account for 68%and 29%of its global imports in 2023,respectively.BRICS countries are rich in agricultural land resources,have great potential for oils and oilseeds production,obvious complementary advantages in trade structure,and huge space for future cooperation.It is suggested that Brazil should be included in the"Belt and Road"co-construction category to promote the continuous deepening of agricultural cooperation between China and Brazil.It is suggested to explore regional agricultural trade agreements among BRICS countries,promote currency settlement and exchange among BRICS countries,and enhance the facilitation and stability of BRICS trade.It is suggested that China should increase its investment in BRICS countries and export advanced technology and management experience to benefit local agricultural development and achieve a mutually beneficial and win-win situation.

“China Shock”or China Dividend?-China GVC Participation’s Effects on Trading Partners’Technological Progress

This paper explores the effects of China’s global value chain(GVC)participation on technological progress in trading-partner countries based on estimated data on value-added trade between China and 52 trading partners.We find that,first,although China’s exports lowered the total factor productivity(TFP)of its trading partners(competitive effect),its imports greatly increased trading partners’TFP(effect of scale).This implies that China’s GVC participation is beneficial to its trading partners’technological progress in the form of a considerable technology dividend effect.Second,China’s export dividend effect compensates for the negative effect of Chinese competition on trading partners’technological progress;the innovation effects attributable to China’s imports reinforce the positive effects of scale on technological progress.When innovation is factored in,the China dividend thus becomes further reinforced.Third,China’s merchandise imports have a diminishing positive effect on technological progress in trading partners as geographical distance increases,but trade in services transcends geographical boundaries,and the positive technological progress effect of China’s service imports do not diminish as distance increases.We find that the“China dividend”from China’s GVC participation is a significant contributor to technological progress in partner nations,and China’s imports are conducive to innovation and technological progress in developed countries in the long run.

Impact of correlated private signals on continuous-time insider trading

A model of continuous-time insider trading in which a risk-neutral in-sider possesses two imperfect correlated signals of a risky asset is studied.By conditional expectation theory and filtering theory,we first establish three lemmas:normal corre-lation,equivalent pricing and equivalent profit,which can guarantee to turn our model into a model with insider knowing full information.Then we investigate the impact of the two correlated signals on the market equilibrium consisting of optimal insider trading strategy and semi-strong pricing rule.It shows that in the equilibrium,(1)the market depth is constant over time;(2)if the two noisy signals are not linerly correlated,then all private information of the insider is incorporated into prices in the end while the whole information on the asset value can not incorporated into prices in the end;(3)if the two noisy signals are linear correlated such that the insider can infer the whole information of the asset value,then our model turns into a model with insider knowing full information;(4)if the two noisy signals are the same then the total ex ant profit of the insider is increasing with the noise decreasing,while down to O as the noise going up to infinity;(5)if the two noisy signals are not linear correlated then with one noisy signal fixed,the total ex ante profit of the insider is single-peaked with a unique minimum with respect to the other noisy signal value,and furthermore as the noisy value going to O it gets its maximum,the profit in the case that the real value is observed.

Creating a Climate for Sustainable Trade

With climate change becoming direr and the WTO“losing its teeth”at 30,experts renew call for green collaboration among the world’s three largest economies.THIS year marks the 30th anniversary of the World Trade Organization(WTO),which has played an indisputable role in facilitating global trade and boosting global growth.The WTO has a significant role in the era of climate change as it provides a platform for resolving green trade disputes.

Policies Aiming at Stabilizing Foreign Trade Continue to Work

On May 30,t he Ch ina Council for the Promotion of International Trade(CCPIT)held a regular press conference.Zhao Ping,the spokesperson for the CCPIT,said that since the beginning of this year,the number of issued ATA Carnets has increased significantly,reflecting the fact that China’s foreign trade policy portfolio is taking effect,foreign trade enterprises have been more active,and their motivation and enthusiasm for expanding the international market have continued to rise.

How Can Foreign Trade Be Stabilized?

At an economy-themed press conference held on the day of the Second Session of the 14th National People's Congress,Minister of Commerce Wang Wentao admitted that the situation of foreign trade situation is still"very severe"this year.When it comes to the future policies for stabilizing foreign trade,Wang Wentao said that the government will provide better financial services forforeign trade enterprises.

Facilitating Trade Across Borders

“The Government Work Report noted that‘development of the New International Land-Sea Trade Corridor will be accelerated’,”stated Wei Zhaohui,member of the Standing Committee of the 14th National Committee of the Chinese People’s Political Consultative Conference(CPPCC)and director-general of the Guangxi International Expo Affairs Bureau,in an interview after the Second Session of the 14th National People’s Congress on March 5.

Next-Level Relations China-Laos Economic and Trade Cooperation Exchange Conference fortifies bilateral economic ties

On September 5,the ChinaLaos Economic and Trade Cooperation Exchange Conference,themed"Highlevel Opening-up and Building a China-Laos Community with a Shared Future,"took place in Vientiane,capital of Laos.The purpose of the conference was to review the achievements of bilateral economic and trade cooperation and work together to develop the roadmap to high-quality development of China-Laos economic and trade cooperation by focusing on shared goals,pooling strength,and adhering to results-oriented collaboration.

Optimal Operation Strategy of Electricity-Hydrogen Regional Energy System under Carbon-Electricity Market Trading

Given the“double carbon”objective and the drive toward low-carbon power,investigating the integration and interaction within the carbon-electricity market can enhance renewable energy utilization and facilitate energy conservation and emission reduction endeavors.However,further research is necessary to explore operational optimization methods for establishing a regional energy system using Power-to-Hydrogen(P2H)technology,focusing on participating in combined carbon-electricity market transactions.This study introduces an innovative Electro-Hydrogen Regional Energy System(EHRES)in this context.This system integrates renewable energy sources,a P2H system,cogeneration units,and energy storage devices.The core purpose of this integration is to optimize renewable energy utilization and minimize carbon emissions.This study aims to formulate an optimal operational strategy for EHRES,enabling its dynamic engagement in carbon-electricity market transactions.The initial phase entails establishing the technological framework of the electricity-hydrogen coupling system integrated with P2H.Subsequently,an analysis is conducted to examine the operational mode of EHRES as it participates in carbon-electricity market transactions.Additionally,the system scheduling model includes a stepped carbon trading price mechanism,considering the combined heat and power generation characteristics of the Hydrogen Fuel Cell(HFC).This facilitates the establishment of an optimal operational model for EHRES,aiming to minimize the overall operating cost.The simulation example illustrates that the coordinated operation of EHRES in carbon-electricity market transactions holds the potential to improve renewable energy utilization and reduce the overall system cost.This result carries significant implications for attaining advantages in both low-carbon and economic aspects.

Enhancement of Competitiveness of Border Trade Entrepreneurs: Case Study of Su-Ngai Kolok Checkpoint, Narathiwat Province

This research aimed to analyze the enhancement of competitiveness among fruit and vegetable export entrepreneurs,with the case study of the Su-ngai Kolok checkpoint in Narathiwat Province.This research focused on three objectives:(1)examining how competitiveness is enhanced through government support and the development of border trade zones,(2)studying the supply chain dynamics,including strategic factors and opportunities in agricultural product management,and(3)developing a model for border trade to strengthen exporters’capabilities.The research employed qualitative methods,with data collected from 25 informants through interviews and employed descriptive methods.The research results revealed that:(1)government agencies play a crucial role in improving competitiveness by developing border economic zones and trade policies;additionally,(2)the research highlighted the importance of strategic partnerships,network building,and efficient logistics along the value chain;(3)the proposed Border Trade Model includes elements for instance government policy,partnerships,entrepreneurial potential,and transportation channels,aiming to enhance the overall efficiency and effectiveness of vegetable and fruit exporters in the region.

Trading in Fast-ChangingMarkets withMeta-Reinforcement Learning

How to find an effective trading policy is still an open question mainly due to the nonlinear and non-stationary dynamics in a financial market.Deep reinforcement learning,which has recently been used to develop trading strategies by automatically extracting complex features from a large amount of data,is struggling to deal with fastchanging markets due to sample inefficiency.This paper applies the meta-reinforcement learning method to tackle the trading challenges faced by conventional reinforcement learning(RL)approaches in non-stationary markets for the first time.In our work,the history trading data is divided into multiple task data and for each of these data themarket condition is relatively stationary.Then amodel agnosticmeta-learning(MAML)-based tradingmethod involving a meta-learner and a normal learner is proposed.A trading policy is learned by the meta-learner across multiple task data,which is then fine-tuned by the normal learner through a small amount of data from a new market task before trading in it.To improve the adaptability of the MAML-based method,an ordered multiplestep updating mechanism is also proposed to explore the changing dynamic within a task market.The simulation results demonstrate that the proposed MAML-based trading methods can increase the annualized return rate by approximately 180%,200%,and 160%,increase the Sharpe ratio by 180%,90%,and 170%,and decrease the maximum drawdown by 30%,20%,and 40%,compared to the traditional RL approach in three stock index future markets,respectively.

The Influence of the Implementation of Trade Facilitation Systems on the Time Required for Creating Delivery Orders: A Case Study of Tema Port

This study evaluated the impact of Ghana’s Integrated Customs Management System (ICUMS), implemented within the National Single Window initiative, on the efficiency of issuing Delivery Orders (DO) at Tema Port. Filling a gap in the existing literature, the research employed a quantitative approach to assess a specific time-related aspect of the cargo clearance process. Employing an Independent t-test on a dataset spanning 2026 Delivery Orders (924 pre-ICUMS and 1102 post-ICUMS) from July 2020 to July 2023, the study investigated ICUMS’s effectiveness in reducing DO issuance time. Results indicate a noteworthy decrease in average DO issuance time, from 11 days pre-implementation to approximately 9 days post-implementation, a reduction validated by statistical analysis through the independent t-test. In light of these findings, the study recommends ongoing refinement of the implementation, reinforcement of trade facilitation measures, and the adoption of best practices from successful global ports. Continuous stakeholder training and regular assessments of ICUMS performance are also endorsed. The study’s implications support the theoretical framework for Single Window systems and carry significant policy implications, emphasizing the need for collaborative efforts to streamline trade facilitation processes driven by Information Technology. Practically, the results serve as a management tool for stakeholders, highlighting areas for targeted interventions to reduce DO issuance times. Methodologically, this research contributes by applying robust statistical analysis to a specific component within the Time Release Study framework, offering a nuanced understanding of trade facilitation systems’ effectiveness in improving cargo clearance processes.

The Tenth Anniversary of Free Trade Pilot Zones in China:Fundamental Experiences and Enhancement Strategies

Since the 18th National Congress of the Communist Party of China,the country has established 21 Free Trade Pilot Zones(FTZs),achieving significant pioneering results in reform and opening up and creating a strong demonstrative effect nationwide.The basic experience from a decade of FTZs includes:adhering to the centralized and unified leadership of the CPC Central Committee;combining top-level design with encouragement of grassroots innovation;leveraging the distinct characteristics and strengths of FTZs to form a differentiated development pattern;maintaining the integration of opening up with domestic reforms;using openness to drive reforms;and organically combining openness with national security assurance.Under the current and future new circumstances,China’s FTZs face new challenges and tasks.In accordance with the directives of the 20th National Congress of the Communist Party of China,an enhancement strategy for the FTZs needs to be implemented.This involves the following:First,accurately understanding and responding to the changing situation to create strategic opportunities.Second,shifting paradigms to implement innovation-driven strategies,using the new development pattern concept to guide the reform experiments and construction of the FTZs.Third,granting more autonomy to FTZs for reforms,pursuing progress while maintaining stability,and solidly advancing the reform experiments in the FTZs.Fourth,orderly expanding the opening up of the service sector and cautiously advancing the internationalization of the renminbi.Fifth,promoting innovative development in trade to build a strong trade nation.Sixth,establishing synergy with bilateral FTZs,Belt and Road cooperation,and national diplomatic strategies to enhance the linkage effect.