Data-Empowered High-Quality Economic Development: Mechanisms and Pathways

To achieve high-quality economic development,it is imperative to prioritize the real economy and foster new factors for economic growth.Data,as a new factor of production,plays a pivotal role in facilitating the seamless integration between digital technology and the real economy.It possesses inherent attributes and techno-economic characteristics that enable the extraction of value across various processes,including production,transaction,consumption,and regulatory supervision.The integration with digital technology enhances the productivity and efficiency of the real economy by facilitating service sector digitalization,accelerating the growth of the new real economy,and supporting the virtual economy in its role of serving the real economy.At present,unleashing the value of data is hindered by inadequate fundamental systems for the data,a lack of activity in the transaction market,and the underutilization of the data as a factor of production by enterprises in the real economy.Therefore,it is advised that data be fully utilized to develop the real economy through the four-pronged approach of“enhancing support for the high-quality provision of the data,expediting the integration of the data into the real economy,promoting the high-quality development of the real economy,and enhancing public service and governance systems”.

Does green finance drive high-quality economic development?-Based on empirical evidence from China

Green finance,as an important branch of modern finance,has far-reaching significance that is not limited to the financial sector.By promoting green investment and optimizing resource allocation,green finance plays a crucial role in reducing environmental pollution and carbon emissions.At the same time,it can also promote the quality of economic growth and achieve the harmonious development of economy,society and environment.Based on China's provincial panel data from 2008 to 2022,the direct impact and indirect transmission mechanism of green finance on high-quality economic development are analyzed by constructing a dynamic panel model and a mediation effect model.It is found that green finance not only directly promotes the high-quality development of the economy,but also indirectly promotes the sustainable and healthy growth of the economy through the transmission channel of technological innovation.This mediating effect of technological innovation is as high as 78.65%,which shows the close connection between green finance and high-quality economic development.In addition,the study also found that the direct promotion effect of green finance on high-quality economic development has significant regional heterogeneity.The results of this study suggest that when formulating relevant policies,it is necessary to fully consider the actual situation of each region and tailor them to the local conditions to ensure the in-depth promotion of green finance and the overall development of the economy.

Factor Price Distortion,Technological Innovation,and High-Quality Economic Development

The entropy method is used to measure the high-quality economic development levels of 30 provinces(autonomous regions,municipalities)in China from 2011 to 2020,and the impacts of factor price distortion,technological innovation,and their interaction terms on high-quality economic development are analyzed based on Tobit regression.The results show that highquality economic development of 30 provinces(autonomous regions,municipalities)in China is on the rise;factor price distortion has an inhibitory effect on high-quality economic development,while technological innovation has a promoting effect on high-quality economic development,and both of them have a lag effect;technological innovation level can help alleviate the negative impact of factor price distortion on high-quality economic development;and sub-regional research shows that the inhibitory effect of factor price distortion on highquality economic development in the east is significantly higher than that in the central and western regions,but the positive effect of technological innovation and the interaction terms between the two on high-quality economic development is significantly lower than that in the central and western regions.Accordingly,it is proposed to optimize top-level design for the two-wheel drive for high-quality economic development,strengthen the primary role of enterprises in innovation to promote high-quality economic development,and optimize the market-oriented allocation of factors to improve the efficiency of resource allocation.

Economic Growth Expectation Targets,Elastic Constraints,and High-Quality Economic Development

Based on the panel data of 30 provinces(autonomous regions,municipalities)in China from 2006 to 2019,the empirical study finds that the target values of economic growth expectation can promote high-quality economic development,and there is an inverted U-shaped relationship between elastic target constraints and high-quality economic development.The elastic constraints can reduce the investment rate and improve the total factor productivity(TFP),which promotes high-quality economic development,but its mediating effect accounts for a small proportion.With the improvement of the marketization degree,the inhibiting effect of elastic constraints on high-quality economic development reduces.The analysis of the heterogeneity between the new or old normal and the levels of economic development shows that in the future,developed regions should set high target values and low elastic constraints,and underdeveloped regions should set high elastic constraints on the target values of economic growth expectation.

The Impact of Digital Finance on High-Quality Development of the Chengdu-Chongqing Economic Circle

This paper developed a comprehensive evaluation system that was able to quantify the levels of high-quality development across the cities within the Chengdu-Chongqing economic circle,and investigate the impact that digital finance had on the cities’high-quality development and the underlying mechanisms through which it achieved this.This comprehensive evaluation system was constructed using statistical data from these cities for the period 2014 to 2020 while also taking China’s high-quality development philosophy into account.The key findings revealed that:(a)Digital finance was able to significantly promote high-quality development in the Chengdu-Chongqing economic circle;(b)Digital finance had a significant positive effect in promoting innovative,coordinated,green,open,and shared development;(c)Digital finance was able to stimulate the high-quality development in the Chengdu-Chongqing economic circle by boosting entrepreneurial dynamism;(d)Digital finance had a significant impact on the high-quality development of the axis areas,while its impact was less discernible in non-axis areas.The insights from this research offer a deeper understanding of the factors that drive high-quality development,the role digital finance plays,and the mechanisms through which digital finance is able to propel high-quality development at the city cluster scale.

Defusing Triple Pressure to Promote High-Quality Economic Development Rapidly

Since the 18th National Congress of the Communist Party of China(CPC),the quality of China's economic development has been continuously improved.However,the year 2022 witnessed a subdued economic growth rate.The triple pressures continue to evolve,with contraction in demand as the primary contradiction facing China's macro economy in the short term.In contrast to major economies in the world,China grapples with a low economic growth-inflation index combination,a pace of economic expansion trailing behind its potential,and a mounting unemployment rate.The impact of supply on price increases weakens,while the global industrial and supply chains are amidst continuous adjustments.Both the consumer confidence index(Ccl)and the purchasing managers'index(PMl)remain low.The expectation for the depreciation of the RMB against US dollar is weakening.In 2023,China will continue to improve the financing environment and carry out a proactive fiscal policy.Simultaneously,there is a moderation trend in the trajectory of the interest rate of the Federal Reserve System hikes.Taken together,these factors(triple pressures)are expected to mitigate the contraction in demand,thereby steering the economy toward robust growth.However,it is crucial to recognize that low economic growth in the long term may compromise the quality of economic development.The year 2023 is the first year of accelerating Chinese modernization after the 2Oth National Congress of the CPC.China should integrate the strategy to expand internal demand with its efforts to deepen supply-side structural reform.This can foster the coordinated growth of both economic quality and speed,making a good start for Chinese modernization.

Government Investment and High-Quality Economic Development——Measurement and Analysis Based on Input-Output Method

Analysis of how government investment promotes economic development and employment is important for improving government’s decision-making and promoting high-quality economic development in western China.In this paper,the authors take Xinjiang as an example to conduct such an analysis.Firstly,based on the competitive input-output table of Xinjiang,the non-competitive input-output tables of 2007,2012 and 2015 are compiled in this paper.Secondly,the contribution of Xinjiang government investment,especially the major government investment projects,to the valueadded of Xinjiang,other provinces and cities in China and abroad are calculated.Thirdly,this paper uses the non-competitive input-output table to compile the sectoral employment vector,and uses the input-occupancy-output technique to measure how government investment promotes employment.The results show that Xinjiang government investment contributes the most to the value-added of Xinjiang and other provinces and cities,but less to foreign countries;the government investment create the most job opportunities in projects including transportation projects and livelihood projects etc.

How Digital Economy Affects High-Quality Economic Development:Based on International Comparison

This paper estimates the size of the digital economy in 38 countries between 2005 and 2018 and conducts an empirical study on this foundation.The results show that the digital economy has a significant role in promoting highquality economic development,primarily through industrial digitalizaion.Further research shows regional heterogeneity in the impact of the digital economy,which is greater in developed countries.Analysis of the underlying mechanisms shows that the digital economy promotes high-quality economic development in both developed and developing countries by improving technological eficiency and technological progress.However,the effect of technological progress in developing countries is clearly weaker than that in developed countries.In addition,scale efficiency in developing countries are not strengthened by the digital economy.Therefore,high-quality economic development requires the digital transformation of traditional industries and promoting their integration with digital technologies.

Scientific and Technological Innovation,Industrial Structure Upgrading,and High-Quality Economic Development

Scientific and technological(S&T)innovation and industrial structure upgrading have become two strategies to achieve high-quality economic development under the new pattern of development in China.Exploring the mechanism through which the former two affect the latter is of great significance to realize high-quality economic development and socialist modernization.Based on panel data of 30 provinces(municipalities,autonomous regions)from 2008 to 2017,this paper adopts the simultaneous equation model to empirically investigate the effect of S&T innovation and industrial structure upgrading on high-quality economic development.The study reveals that S&T innovation can significantly promote industrial structure upgrading and high-quality economic development,while industrial structure upgrading imposes a significantly negative effect on high-quality economic development.However,S&T innovation can offset such a negative effect and promote high-quality development indirectly.S&T innovation influences high-quality development in a dual path.To be specific,the former produces both a direct influence on the latter,but also an indirect influence through industrial structure upgrading.

Spatial Differentiation and Convergence Trend of High-quality Development Level of China’s Tourism Economy

This paper aims to interpret the connotation of high-quality development of tourism economy(HQTE)from the perspective of the new development concepts of innovation,coordination,green,openness and sharing,and then to evaluate the spatial differenti-ation of China’s HQTE based on provincial panel data from 2009 to 2018.Specifically,we employ the spatial convergence model to ex-plore the absolute and conditionalβconvergence trends of HQTE in the whole country and the eastern,central and western regions of China.Our empirical results reveal that:1)within the decade,from 2009 to 2018,regions of China with the highest HQTE index is its eastern region followed by the central region and then the western region,but the fastest growing one is the western region of China fol-lowed by the central region and then the eastern region.2)Whether or not the spatial effect is included,there are absolute and condition-alβconvergence in HQTE in the whole country and aforementioned three regions.3)The degree of government attention as well as the level of economic development and location accessibility are the positive driving factors for the convergence of HQTE in the whole country and the three regions.The degree of marketization and human capital have not passed the significance test either in the whole country or in the three regions.The above conclusions could deepen the understanding of the regional imbalance and spatial conver-gence characteristics of HQTE,clarify the primary development objects,and accomplish the goal of China’s HQTE.

High-Quality Development in China-Arab Digital Economy Cooperation:Opportunities,Challenges and Prospect

As the world undergoes a digital transformation,China-Arab cooperation in the digital economy has become a pivotal area of international engagement.This article explores the opportunities,challenges,and prospects of this cooperation,with a particular focus on the Digital Silk Road initiative under the Belt and Road framework.The study highlights the synergies between China’s technological advancements and the digital strategies of Arab countries,examining progress in key areas such as cooperation mechanisms,digital infrastructure,and cross-border e-commerce.Moreover,it identifies significant challenges,including the digital divide and talent shortages,and proposes strategies to enhance China-Arab digital economy cooperation.These strategies include improving digital infrastructure,growing digital talent cultivation,and developing smart city initiatives alongside expanding cross-border e-commerce,all aimed at fostering sustainable and mutually beneficial outcomes.

Exploring the Path of High-Quality Economic Development in a Double Circulation Pattern

Since the start of the reform and opening up in 1978 China's economy has grown rapidly,but the quality of development is relatively low.With the transformation of the principal social contradiction,lowquality development cannot respond to the needs of this situation.The central authorities proposed a new development pattern whereby domestic circulation and international circulation can boost each other,with domestic circulation as the mainstay.In the Fifth Plenary Session of the 19th Central Committee of the Communist Party of China(CPC),the CPC Central Committee stressed that we should promote high-quality development as the theme to meet the growing needs of people for a better life.To solve the problem of inconsistent economic growth rate and quality of development,this paper starts by adjusting the relationship between domestic circulation and international circulation with domestic circulation as the mainstay,discusses how to create conditions for consumption upgrading and industrial upgrading from both supply and demand ends,and expounds on how to use international circulation to promote domestic circulation and better bring in international forces,so as to explore how to achieve high-quality economic development under the double-circulation pattern.Besides,the paper puts forward corresponding countermeasure suggestions.

Internet, Technological Innovation and High-Quality Economic Development

Using the panel data of 29 provinces in China from 2015 to 2018,this paper analyzes the impact of the internet,technological innovation,and their interaction on high-quality economic development.As the results show,the internet and technological innovation promote economic growth efficiency,economic growth stability,industrial structure optimization,and sustainable development level,where technological innovation promotes more significantly but hinders the economic welfare level to some extent;the interaction between the internet and technological innovation has a significant positive correlation with high-quality economic development and strengthens the promotion of technological innovation on high-quality economic development;human capital plays a significant role in promoting all aspects of high-quality economic development,while fiscal expenditure has no significant impact on highquality economic development.Therefore,the internet should be leveraged to drive technological innovation capacity,and better play the guiding role of the government.

The Evolution and Driving Force on Integrating Environmental Protection and High-Quality Economic Development

An index system is constructed to measure the integration of environmental protection and high-quality economic development in different cities in China from 2006 to 2018,and to explore its evolution and driving forces.From the three dimensions of integration foundation,integration depth and integration performance,this paper adopts AHP-Entropy combined weighting method to build the integration index.In addition,this paper comprehensively uses exponential decomposition,comparative analysis and o convergence and divergence analysis to explore the spatio-temporal differences and dynamic mechanisms.The results show that the overall integration level of China's cities continues to improve,of which technological progress is the core driving force,the transformation of development mode is a crucial path,and the intensity of environmental governance is the key support.The evolution and driving forces of the integration level of first-tier cities,new first-tier cities and other cities are significantly different.Promoting integration level is a critical way for resourcebased cities to break the resource curse.Urban agglomeration integration led by the growth pole can effectively improve the overall regional integration level.This paper innovates that the relationship between environmental protection and high-quality economic development is discussed from the perspective of integration,and the paths to improve the integration level of resource-based cities and urban agglomerations are identified.This paper is helpful to clarify the differences in integration levels and driving forces of different cities,and provide a reference value for the precise implementation of high-quality development and“beautiful China.”

The Mechanism and Path for Digital Economy to Foster New Drivers for High-Quality Economic Development in China

As traditional drivers fade,cultivating new drivers has become the key to the high-quality development of China's economy.In the new round of scientific and technological revolution and industrial transformation,the digital economy plays a strategic role in promoting high-quality economic development in China,by using data as a new key production factor and innovation as the driving force,and driving impetus change,efficiency change and quality change to increase total factor productivity.The mechanism for the digital economy to cultivate new drivers for the high-quality development of China's economy is through four dimensions,namely allocation optimization,economies of scale,industrial integration,and innovation-driven growth.In the context of the digital economy,accelerating the cultivation of new drivers calls for the following efforts:speeding up digital innovation and promoting the driving force change,efficiency change,and quality change;accelerating the process of digital industrialization and pushing advanced industrial basic capabilities;using industrial digital transformation to promote the modernization of the industrial chain;and advancing the high-quality development of the manufacturing industry,and promoting the deep integration of the digital economy and the real economy.

Study on Coupling Coordination between Sci-Tech Innovation and High-Quality Economic Development in the Guangdong-Hong Kong- Macao Greater Bay Area

Sci-tech innovation is an important measure for the Guangdong-Hong Kong-Macao Greater Bay Area to achieve high-quality economic development.Theoretically,there is a coupling coordination relationship between sci-tech innovation and high-quality economic development,and coordinating the relationship between the two is beneficial to building the Guangdong-Hong Kong-Macao Greater Bay Area into an international innovation and technology hub and promoting high-quality economic development.At present,the Guangdong-Hong Kong-Macao Greater Bay Area has seen a year-on-year increase in both the level of sci-tech innovation and the level of high-quality economic development,with a sound development trend.Its coupling coordination degree between sci-tech innovation and high-quality economic development has steadily improved from a slightly uncoordinated stage to a primarily coordinated stage,but the overall degree of coordination is still not high,with some gaps from realizing the excellently coordinated stage.From the perspective of spatial distribution,the internal development of the Guangdong-Hong Kong-Macao Greater Bay Area is unbalanced,with obvious differences in development level and coupling coordination degree among cities.The convergence analysis shows that the differences in the coupling coordination degree among the cities in the Guangdong-Hong Kong-Macao Greater Bay Area have stabilized after narrowing during the study period.However,the difference among the cities with higher coupling coordination degrees tends to widen in recent years.Therefore,necessary measures should be taken to promote the coordination between sci-tech innovation and high-quality economic development in the Guangdong-Hong Kong-Macao Greater Bay Area.

Influence of Technology Change on High-Quality Economic Development in China

Since the implementation of the reform and opening up policy,rapid growth has been witnessed in the Chinese economy,thanks to the introduced technological progress as well as the institutional advantages of the country.However,while this exogenous technological progress promotes economic growth quantitatively,it is,unfortunately,not conducive to the improvement of the quality of the economy.Structural imbalances have thus been produced,which hinder the high-quality development of the economy of the country.Besides,by way of the“supply and demand rebalance mechanism,”“resource optimized allocation mechanism,”and“new and old kinetic energy conversion mechanism,”original technological progress can effectively push forward the quality change,efficiency change and dynamic change in the economy,thereby promoting the innovation,coordination,greenness and openness as well as the shared development of the economy.Therefore,the current technological transformation in China needs to change from the second stagethe stage of transition from the introduced technological progress mode to the original technological progress mode then to the third stage-the stage mainly based on the original technological progress,which is the key to the successful transformation of the Chinese economy from the high-speed growth phase to the high-quality development phase.

Industry Interaction,Structure Transformation and High-Quality Economic Development in China

Industry interaction is becoming an important approach to promoting highquality economic development.In this paper,the multi-sector general equilibrium model is developed to clarify the theoretical mechanism among industry interaction,structure transformation,and high-quality economic development;the empirical tests are carried out based on the provincial panel data from 2000 to 2017;and the empowerment paths for digital technologies are explored to drive high-quality economic development.The findings are as follows.(1)The industry interaction can promote high-qualityy economic development in China on the whole,but it shows a significant imbalance and a healthy two-way promotion mode have not been formed.(2)The impact of industry interaction on high-quality economic development is significantly heterogeneous at the sector and regional levels.(3)The current unhealthy industry interaction may widen the productivity gap between manufacturing and service sectors,and transform China's economic into service-oriented structure,thus leading the economic development to a vicious circle of“low efficiency to low-end servitization and further to lower efficiency”and hindering the sustainability of high-quality economic development:.(4)Digitaltlechnologies can break the development dilemma and achieve high-quality economic development by alleviating structural contradictions,boosting healthy industry interaction,and narrowing the productivity gap among sectors.The conclusions provide empirical evidence for the government to promote the integration of advanced manufacturing and modern service sectors and achieve highquality economic development.

The Cross-Correlation Relationship Between the Real Estate Industry and High-Quality Economic Development

Based on China’s real estate investment(REI), commercial housing sales(CHS), and GDP data from 2001 to 2020, we studied the dependence, asymmetry, and transmission direction of China’s real estate and economy. Their cross-correlation is demonstrated through the deep crosscorrelation analysis(DCCA) algorithm, multifractal asymmetric detrended cross-correlation analysis(MF-ADCCA) algorithm and DCCA algorithm based on a time delay. Both REI and CHS have persistence with GDP. The real estate industry and economy have asymmetric multifractal characteristics.Meanwhile, real estate and the economy have different trends, and they can affect each other with the same length of time delay. This effect diminishes in a short period of time, and there are unsteady fluctuations in cross-correlation persistence in the long term.

Path Analysis of High-Quality Development of Regional Economy The Role and Impact of Industrial Policies

With China’s economic development entering a new normal,high-quality regional economic development has become an important goal of current economic development.As one of the important means to promote high-quality development of the regional economy,industrial policies are increasingly receiving attention in terms of their role and impact.This article mainly conducts an in-depth analysis of the mechanism and impact path of industrial policies,exploring the role and impact of industrial policies in promoting high-quality regional economic development.Firstly,industrial policies play an important role in promoting high-quality regional economic development.Secondly,the impact path of industrial policies on the high-quality development of the regional economy mainly includes promoting industrial structure upgrading,promoting technological innovation,guiding resource allocation,and enhancing enterprise competitiveness.Therefore,it is necessary to increase research and practice on industrial policies,continuously optimize policy measures,and promote high-quality development of the regional economy.