Improving PetroChina's Company Value: a Corporate Governance Perspective

In China, the concept of corporate governance does not have a long history, and the implementation of corporate governance has been growing up with the process of China's enterprise reform especially the SOEs (state-owned enterprises) reform and economic growth. In the last two decades, China's enterprise reform has been the focus of economic reform and system reform, and the importance of corporate governance became clearly recognized among the join stock corporations which had undergone or are ongoing the corporatization progress.

Evolution and Governance of the Structure of Marine Economic Networks in China’s Coastal Areas: Based on Sea-related A-share Listed Companies

Data on discrete,isolated attributes of the marine economy are often used in traditional marine economic research.However,as the focus of urban research shifts from internal static attributes to external dynamic linkages,the importance of marine economic net-work research is beginning to emerge.The construction of the marine economic network in China’s coastal areas is necessary to change the flow of land and sea resources and optimize regional marine economic development.Employing data from headquarters and branches of sea-related A-share listed enterprises to construct the marine economic network in China,we use social network analysis(SNA)to discuss the characteristics of its evolution as of 2010,2015,and 2020 and its governance.The following results were obtained.1)In terms of topological characteristics,the scale of the marine economic network in China’s coastal areas has accelerated and expan-ded,and the connections have become increasingly close;thus,this development has complex network characteristics.2)In terms of spatial structure,the intensity of the connection fluctuates and does not form stable development support;the group structure gradually becomes clear,but the overall pattern is fragmented;there are spatial differences in marine economic agglomeration radiation;the radi-ation effect of the eastern marine economic circle is obvious;and the polarization effect of northern and southern marine economic circles is significant.On this basis,we construct a framework for the governance of a marine economic network with the market,the government,and industry as the three governing bodies.By clarifying the driving factors and building objectives of marine economic network construction,this study aims to foster the high-quality development of China’s marine economy.

GDI and GSI: China’s New Propositions for Global Governance

In the post-pandemic era,the global economic and security landscapes are fraught with complexities and uncertainties.Among them,four risk flashpoints merit attention:Certain countries are raising interest rates to subdue inflation,despite their already high levels of debt;the bulk commodities market is experiencing volatility,leading to global turbulence and change;trade protectionism is at the forefront of major-power rivalry in political and economic spheres;and regional security crises are compounding international tensions.Behind those flashpoints are contradictions that obstruct world peace and progress,including development imbalances,governance gaps,and structural tensions in global security.In the face of uncertainties,it is crucial for China to seize strategic opportunities and transform crises into favorable situations.China has launched the Global Development Initiative(GDI)and the Global Security Initiative(GSI)to contribute to global prosperity and security.The two initiatives demonstrate China’s commitment to addressing global deficits in peace,development,security,and governance.

Corporate Governance, Sustainable Development and Value Creation Some Evidences From Italian Listed Companies

Modern corporate situations, characterized by the globalisation of the markets and of the information, highlight the need to link the potential of a not transient growth to the adequate reconciliation of all the expectations converging around the entrepreneurial formula and not only of those attributable to shareholders. In such a defined context, corporate governance tends to evolve from a situation of primary care for the expectations of shareholders （shareholder＇s view） and for the correlated financial responsibility, to a wide consideration of all the stakeholders （stakeholder＇s view） and related responsibilities （financial, environmental, social, administrative）. The correct carrying out of governance processes requires, therefore, a clear focus on sustainable development and on the related assumption of a concept of global responsibility. The decisions made by the governing bodies must be driven by the purpose to create value in the long term according to conditions of fairness and sustainable development. To sum up, this research aims to deepen the existing connections between corporate governance, sustainable development and value creation on the basis of the empirical analysis of a limited number of listed Italian companies afferent to the public utilities sector. The paper, based on a deductive approach, is composed of two distinct but strictly connected parts： the first theoretical and the second empirical. The empirical research consists of a content analysis of the most recent documents （sustainability reports and annual reports） worked out by the selected companies. The results obtained about the degree respect of sustainable development conditions by each company are linked to the related value dimension （social, economic, competitive and environmental performance） aimed at verifying if the assumption of a corporate governance approach inspired by sustainability is susceptible of favouring the company development in a medium long term. From the delivered research it emerges how public utilities that promote behaviours in line with the sustainability conditions are marked out by stable growth paths. Conversely, the companies that assume a vision mainly addressed to the economic dimension, neglecting the other areas are generally compromised in the performance realized.

The effects of corporate governance compliance on market valuation in Malaysia

This study investigates the effects of corporate governance compliance on market valuation in Malaysia using a sample of 164 companies listed on the Main Board in Bursa Malaysia from 5 different industries （consumer, trading ＆ services, industrial, constructions and properties） within 2001 to 2005. Throughout, this study will use correlation and regression analysis in the SPSS software to determine the effects of corporate governance practices on Market Valuation. In analyzing firms＇ market valuation, we will use the Tobin＇s Q formula and for the corporate governance compliance, we will look at 4 criteria to compare with market valuation, which are （1） Board of Director＇s composition, （2） Board of Director＇s remuneration （salaries）, （3） Board of Director＇s training and development, （4） Board of Director＇s meeting. In order to determine the effects between the corporate governance compliance and market valuation, we will use regression analysis. Based on the correlation analysis, the first null hypothesis must be rejected and the alternative hypothesis is accepted, in which dependent variable and independent variables are significantly correlated with BOD remuneration and BOD training availability. Overall, there is a significant relationship between Tobin＇s Q and independent variables （BOD remuneration and BOD training）. This study also recommends that for the company who did not comply with the code, they should follow the best practice because it will be a pivotal weapon in facing with the fierce competition in era globalization.

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.

Cooperation and Divergence between China and the United States in the Governance of Global Climate Change

China and the United States are two key players in global climate governance.What about their relations in the field of climate change and how should we view these relations? An analysis of their relations in global climate governance is of great significance both for global multinational negotiations and their bilateral relations. The two parties have enhanced their cooperation on climate change since 2009 in terms of increasing willingness, broader scale, more diverse mechanisms and higher effectiveness. With the U.N. Paris Climate Conference 2015 approaching, China-US cooperation will inject much momentum into the multilateral process of reaching an ambitious agreement. However, there are also sharp divergences between China and the U.S. regarding principles, rules, and legal means. These divergences might become prominent during the Paris Conference and need to be addressed at the bilateral level.

Patterns of international governance in the Arctic and China's approach

The process of rapid change in the Arctic is creating both opportunities and challenges. This paper highlights interactions between different actors in the Arctic in response to multidimensional environmental, political, commercial, and human challenges. It shows that international governance in the Arctic can be characterized by global, multilateral, and regional patterns derived from different mechanisms such as the Arctic Council or the Ilulissat declaration platform, and these interactions are based on common acknowledgment of challenges, mutual interests, and coordinated actions. The paper also examines China＇s participation in international governance in the Arctic. Distinguish from non-Arctic states in a general sense, China as an important stakeholder has both the rights and the capacity to be engaged in multilevel governance patterns. The substantive contribution of China＇s participation--an explorer in scientific cooperation, a pioneer promoting environmental protection, a potential consumer and investor in relation to economic opportunities, and a promoter of local development^are deeply interdepended with the future of development of three ~overnance patterns relatin~ to international ~overnance in the Arctic.

CHINA'S SELF-CONFIDENCE AND CONSCIOUSNESS IN GLOBAL GOVERNANCE

'China should make greater contributions to mankind.'Such contributions are now to be found more and more on the level of global governance.As General Secretary Xi Jinping observed in his New Year Address of 2016,'the world is too big,and challenges are too many,to go without the voice from China being heard,without solution ideas from China being shared,without the involvement of China being needed'.

Government's Responsibility for Control of Agricultural Environmental Pollution in China

In this paper,the current situation of agricultural environmental pollution caused by the increase of chemicals input in agriculture in China was analyzed,and it is found that agricultural pollution is related to agricultural industrial policies,urban-rural economic structure,funds input in pollution control,comprehensive environmental management,laws of pollution control,and so forth. To control agricultural pollution effectively,it is needed to implement integration of agricultural and environmental policies,establish environmentally friendly agricultural technology popularizing system,implement integrated planning and management of a basin,and set up and improve legislation to protect agricultural environment.

The Transformation of Environmental Governance from the Point of the Interaction between Government and National People's Congress

Taking cadmium pollution in X River as an example, the interaction between National People＇s Congress and local government was de- scribed. How the local government transforms its role in environment protection with the help of several deputies to National People＇s Congress was expounded from the angle of social construction, which also enlightened the way to build an environment protection road with Chinese characteristics.

The transformation of China＇s economic and government functions

The content of China＇s economic transformation is not single, and this article argues that it includes three parts. The first is the reform of economic system, the second is the change in the pattern of economic growth, and the third is the adjustment of economic structure. Government is the leading force of China＇s economic transformation, and repeated reform of government institutions has brought about some changes to government functions. But problems are obvious that lag changes of government functions have become an obstacle in China＇s economic transformation. This article describes the historical evolution and the reality of China＇s economic transformation, and analyzes the main reasons of lag changes in government functions, and reveals that the transformation of government functions is the key for successful transformation of China＇s economy.

On the Government's Responsibility in China's Rural Land Transfer

There is an urgent need for China's rural land transfer in order to develop modern agriculture,ensure food security,transfer rural population,and accelerate industrialization and urbanization.At present,there is still disordered transfer of rural land in China,making the interests of the transferors and transferees difficult to be effectively guaranteed;there is inefficient transfer,leading to decline in actual agricultural production level after transfer;there is jobless transfer,leading to difficult placement for rural surplus labor after transfer,seriously restricting rural land transfer.Therefore,the Chinese government's legal responsibility,economic responsibility and social responsibility in rural land transfer should be further strengthened.

Chinese science diplomacy in Arctic climate governance based on a survey and interviews with Chinese scientists

Science diplomacy is attracting increasing attention in the international relations literature.This study investigates how Chinese scientists understand this term and explores China’s dynamic praxis in Arctic climate governance.It conducts a theoretical and practical examination of science diplomacy in terms of three dimensions—science in diplomacy,diplomacy for science,and science for diplomacy—thus achieving a high degree of consistency.A multi-method approach,combining qualitative and quantitative research methodologies and involving the adoption of a literature review,participant interviews,and questionnaires,is adopted.Data were collected from interviews with 16 Chinese scientists involved in Arctic climate governance and from 130 valid questionnaires collected from Chinese natural scientists working in the climate change field.Drawing on qualitative and quantitative findings,the study reveals that the three-dimensional framework of science diplomacy can provide insight into Chinese scientists’understandings of the topic.In contrast to the participants’vague theoretical responses,the outlines of China’s Arctic climate governance can be clearly identified within this framework.The study concludes by underlining the tension between theory and practice in terms of science diplomacy and highlighting the emerging challenges for China in developing its Arctic science diplomacy against the background of the COVID-19 pandemic and Russia-Ukraine conflict.Moreover,it is suggested that,to further develop China’s Arctic science diplomacy,it is vital to take account of the deficiencies in China’s science diplomacy.The study’s empirical results contribute to an understanding of the dynamic nature of science diplomacy in the Chinese context.

Deepening China's Investment System Reform——The State Development Investment Corporation

The Chinese government set up the State Development Bank against the background of the Chinese economic system being transformed from planned to market. In May 1995, the State Development Investment Corporation was established. Does this mean that China’s investment system reform is advancing at a much

Foreign Investment & China's Shipbuilding Industry——Interview with General Manager Wang Rongsheng of China Shipbuilding Industry Corporation

"China’s shipbuilding industry has boomed in the last 15 years since the end of the 1970s and has drawn attention of international shipbuilding and shipping circles even though a gap still remained between China and advanced shipbuilding countries including Japan and South Korea. China ranks among advanced shipbuilding countries relying on its own investment and enterprise development. China has opened its shipbuilding industry to the outside world for wider cooperation and more foreign involvement."

International Markets for China's Electronics Products An Interview with Ouyang Zhongmou, President of the China Electronics Import-Export Corporation

It’s estimated that by the year 2000, the international electronics market will be worth US$ 2 trillion, making the electronics industry the world’s largest. How to expand its share of this international market will be a challenge for the China Electronics Import-Export Corporation. Recently, our reporter interviewed Mr. Ouyang Zhongmou, president of CEIEC. Question: How is your corporation getting on as China’s largest foreign

A Giant of China's Cleaning Industry——The Blue Star Chemical Cleaning Group Corporation

First business: to clean a tea pot. Income: RMB 0.20 (less than 10 US cents at the time). Second business: to clean a boiler. Income: RMB 1, 200. Three months later, incomereached RMB 240, 000. Ten years later, the company had 350 subsidiaries across China and four joint ventures abroad, with an annual output value of more than RMB 300 million. The data are simple but intriguing, recording the history of the Blue