2018-2019 China macroeconomic report:China’s macroeconomy in the new chapter of reform and opening-up

Since 2016,the scenario of stable macroeconomic performance with good momentum has changed due to shifts in global economic architecture,changes in market sentiment,variations in microeconomic bases and mismatched economic policies.Core macroeconomic indicators demonstrated‘continuous slower growth’as downward pressure continued to increase.The situation illustrates that China’s macroeconomy has neither stabilised nor entered a steady recovery cycle.A short-term policy may fail to stabilise growth and alleviate the continuous downturn pressure which emerged in 2018.Chinese economy needs comprehensive supply-side structural reforms and opening-up.This report shows that China’s internal and external pressures urged wide-range reforms in 2018 and in-depth opening-up in 2019.The year 2019 is crucial for China as it transitions from the dismal‘new normal’phase to a high-quality development mode.

Research strategy for constructing a green infrastructure network based on spatial prioritization

The destruction of the ecological system caused by urban expansion has led to the environmental deterioration,cities have become increasingly vulnerable.In this study,six districts and counties along the Yellow River in Zhengzhou were selected as the study area.First,green infrastructure elements were extracted by morphological spatial pattern analysis.Then,outside the urban areas,we used connectivity analysis to evaluate the importance of core areas,adopted minimum cumulative resistance model to extract potential corridors,and identified the important corridors by using the gravity model.Finally,in the urban areas,we set up an evaluation system to assess the demands for ecosystem services.The results showed that:(1)Seven landscape types of green infrastructure be identified in study area.(2)There are 17 vital cores,136 potential corridors,and 24 vital corridors outside the urban areas.(3)The blocks with high demand for ecosystem services are mostly concentrated in the old blocks with dense populations and poor infrastructure,and there are 5 blocks with comprehensive high-demand.Based on identified importance for green infrastructure land space,and high-demand level for ecosystem services areas in this study,a green infrastructure net plan was proposed based on spatial conservation prioritisation.

Digital Economy Enables High-Quality Economic Development: Theoretical Mechanisms and Empirical Evidence

Digital economy has become the primary motivation for high-quality economic development.Upon comprehensively analyzing the connotation of digital economy,this paper constructs an evaluation system from development environment,digital industrialization,industrial digitalization,and digital governance to measure China's digital economy index from 2016 to 2018 using the entropy-based TOPSIS method.Also,based on the improved Feder dual sector model,this paper discusses the theoretical mechanism of digital economy promoting high-quality economic development directly and through improving economic efficiency and economic structure,and carries out an empirical test.According to findings,on the one hand,China is scaling up digital economy and accelerating digital transformation;on the other hand,the greater the likelihood that high-quality economic development is constrained by low economic efficiency and unreasonable economic structure,the greater the role of digital economy in promoting high-quality economic development.Therefore,this paper puts forward recommendations for China's high-quality economic development,such as advancing new infrastructure construction,developing digital economy,improving economic eficiency and economic structure,and transforming the government governance model.