Optimal proportional reinsurance and dividend payments with transaction costs and internal competition

We study the dividend optimization problem for an insurance company under the consideration of internal competition between different units inside company and transaction costs when dividends occur. The management of the company controls the reinsurance rate, the timing and the amount of dividends paid out to maximize the expected total dividends paid out to the shareholders until ruin time. By solving the corresponding quasi-variational inequality, we obtain the optimal return function and the optimal strategy.

The Optimal Policy for Insurance Company Under Consideration of Internal Competition and the Time Value of Ruin

This paper considers the dividend optimization problem for an insurance company under the consideration of internal competition between different units inside the company. The objective is to find a reinsurance policy and a dividend payment scheme so as to maximize the expected discounted value of the dividend payment, and the expected present value of an amount which the insurer earns until the time of ruin. By solving the corresponding constrained Hamilton-Jacobi-Bellman （HJB） equation, we obtain the value function and the optimal reinsurance policy and dividend payment.

China-US High-Tech Competition,Trade Conflict and Development Rights

The power and interest of industrial manufacturers are determined by their status in the relations of production.At the international level,countries see their economic and political status rise only when they climb the ladder in the international division of labor.As the primary production forces,science and technology are the main drivers behind such change.As new technologies give rise to new industries and restructure the international division of labor,developed countries strive to enhance the protection of their intellectual property rights(IPR)and safeguard their monopoly over core technologies.For developed countries,technological prowess holds the key to their supremacy in the global supply chain and international relations.The 19 th CPC National Congress makes clear the overarching goal in the new era is to rejuvenate the Chinese nation and turn China into a strong modern country.As an important material condition for achieving this goal,China must transition from being medium-and low-end links in the international division of labor to becoming high-end links.In this process,China will encounter backlash from developed countries that lead in the international division of labor.The recent China-US tussle over trade in high-tech goods is a case in point,and should be viewed through the lens of the relations of production and the international division of labor.The insights thus achieved will be of great significance to China’s future development.

Dietary and Biochemical Profile of Congolese Athletes in Endurance Races during International Competition

Biochemical parameters are useful in the diagnosis of many health abnormalities in athletes. Some studies suggest training well and eating a balanced diet to improve performance. The modification of biochemical parameters during endurance races has not yet been studied in many African countries. Our objective was to evaluate the dietary profile and the effects of competition on the biochemical parameters of Congolese endurance athletes. The method used was the questionnaire for the food profile and blood samples were taken to measure the biochemical parameters of the athletes. A total of 64 athletes, i.e. 20 girls and 44 boys divided into two groups (group 1 or experimental group (EG), 32 endurance athletes and group 2 or control group (CG), 32 walkers who participated in a cross-sectional study in Brazzaville. The subjects were respectively 26.16 ± 2.79 years old for the EG and 27.44 ± 3.34 years old for the CG. The results indicated that quality foods were difficult to access. The main course was more consumed compared to the starter and dessert (60% of girls and 63.63 of boys). However, biochemical parameters showed a significantly lower serum creatinine concentration in EG subjects compared to CG subjects (0.86 ± 0.06 mg/dl vs 1.04 ± 0.16 mg/dl;t = ?5.95;p 0.05). Similarly, Total Cholesterol was significantly low (1.66 ± 0.34 g/l vs 2.09 ± 0.50 g/l;t = ?3.99;p < 0.000). Cholesterol concentrations of EG subjects (HDL-C) were significantly elevated (0.98 ± 0.49 g/l vs 0.48 ± 0.18 g/l;t = 5.34;p < 0.000). In conclusion, the biochemical data were normal but the food profile of the runners was unfavorable, inadequate and unbalanced. This is considered to be a performance limiting factor.

The 4th Brother Cup China International Garment Youth Designers Competition

On April 13,1996,the 4th Brother CupChina International Garment YouthDesigners Competition was held inBeijing.The final competition was attendedby 36 young designers from 18 countries andregions,including the UK,France,Japan,Germany,Italy,Spain,Canada,Finland,India,the US,Russia,Singapore,Malaysia,Honduras,Niger and Hongkong.

A Comprehensive Evaluation and Countermeasures of Fishery Development in China Based on Its Domestic Development and Foreign Trade

[Objective] The aim was to make a comprehensive evaluation and explore strategies on fishery development. [Method] Fishery development in China was analyzed and concerning evaluation system was established based on its development stage, international competiveness and exportation. In addition, a comprehensive evaluation was made on fishery and countermeasures were proposed considering from government, department of quality control, fishery guild, producing and processing enterprises. [Result] Although progresses have been made in fishery in China, some problems still exist, such as overdose of drug residues, overloading breeding, lower additional value of products, and fewer excellent and famous products. Hence, local governments should give much support to fishery and enhance competitiveness to improve the products in global market; departments of quality control should strengthen supervision and management on fishery products against technical trade barriers; fishery guilds or researching institutions should provide technical support for concerning breeding and processing which should be mainly relied on science and technology. [Conclusion] The research provided references for fishery development.

Shift-share Analysis on International Tourism Competitiveness——A Case of Jiangsu Province

Shift-share analysis has been confirmed a useful approach in the study of regional economics and many kinds of extended shift-share models have been advanced and put into practice in economic studies, but few have hitherto been introduced and applied to the tourism research in China. Moreover understanding the spatially competitive relationship is of paramount importance for marketers, developers, and planners involved in tourism strategy development. Based on international tourism receipts from 1995 to 2004, this study aims at probing into the spatial competitiveness of interna- tional tourism in Jiangsu Province in comparison with its neighbors by applying a spatially extended shift-share model and a modified dynamic shift-share model. The empirical results illustrate that exceptional years may exist in the ap- plication of dynamic shift-share models. To solve this issue, modifications to dynamic shift-share model are put forward. The analytical results are not only presented but also explained by the comparison of background conditions of tourism development between Jiangsu and its key competitors. The conclusions can be drawn that the growth of international tourism receipts in Jiangsu mainly attributes to the national component and the competitive component and Zhejiang is the most important rival to Jiangsu during the period of 1995-2004. In order to upgrade the tourism competitiveness, it is indispensable for Jiangsu to take proper positioning, promoting and marketing strategies and to cooperate and integrate with its main rivals.

The impact of environmental regulations on international competitiveness of textile industry in China

A greater focus of environmental protection is directed toward environmental regulations in China. This paper focuses on environmental regulations and their impact on textile industry. The academic circle does not reach a consensus on the relationship between environmental regulations and international competitiveness. Some hold the view that environmental regulations lower international competitiveness while others think that environmental regulations improve both environment and economic performance. This paper aims to analyze the impact of the environmental regulations on the international competitiveness of textile industry in China. This study starts with theories relative to this subject; the second part, based on the impact mechanism of environmental regulations on competitiveness, analyzes the environmental impact on textile from the perspective of cost and market. The conceptual exploration comes to the conclusion that environmental regulations make a negative impact on the international competitiveness on the cost side and improve it by means ofinnovation and product differentiation on market side; the third part gives time series evidence to examine the impact. In this part the Pearson Correlation Analysis is conducted based on the data of China's textile industry of the period from 1991 to 2005. It turns out to prove that the negative environmental impact on cost side exceeds the positive environmental impact on market side, namely, environmental regulations deteriorate the international competitiveness in textile industry as a whole during the inspected period.

Measurement of International Competitiveness of Clothing Industry under the Background of Value Chain Reconstruction

Relying on cheap labor cost advantage,China is locked in the low-end processing link of the global value chain and obtains a lower profit share.With the deepening of the international division of labor,changes in the distribution of national interests and the spread of anti-globalization in some developed countries,the global value chain is undergoing a new round of large-scale reconstruction and emerging economies are trying to penetrate and extend to the high end of the global value chain.Based on the theory of industrial upgrading and global value chain,this paper focuses on the current development of Chinese apparel industry,the mechanism,development and problems of global value chain reconstruction,analyzes the relevant elements in the apparel industry value chain reconstruction,and proposes the application of data envelopment analysis(DEA)competitiveness model in the value chain reconstruction of apparel enterprises.We use the CCR(C2R)model to simulate the improvement of production efficiency.Finally,we put forward corresponding countermeasures and suggestions for the value chain reconstruction from the perspective of improving product competitiveness.

International Competitiveness of Export of China’s Sweet Orange

Selecting the market share,trade competitiveness index,revealed comparative advantage( RCA),and revealed competitive advantage index( CA),this paper compared the competitiveness of China and large sweet orange exporters,and made an empirical analysis. Results indicate that in terms of the market share,Spain has prominent advantage in competitiveness of sweet orange; in terms of the trade competitiveness index,Egypt and South Africa have higher competitiveness in the export of sweet orange; in terms of RCA and CA,Egypt has absolute international advantage in the export of sweet orange. China’s export competitiveness of sweet orange is much lower than other large sweet orange producers such as Spain,Egypt,and South Africa,and the export capacity is much lower than other large sweet orange producers. In view of current situations,it came up with recommendations for improving export competitiveness of China’s sweet orange,including expanding the market,diversifying the varieties,improving the quality,reducing the costs,strengthening cooperation of fruit farmer cooperatives,and enhancing government support.

Further Enhancing the International Competitiveness of China's Chemical Industry

Foreign-oriented Economy Entering a New Stage The Eighth Five-year Plan period saw the fastest development of the foreign-oriented economy in China’s chemical industry, with an accumulated import and export value of US$100 billion, including US$38.3 billion of exports. In 1996 the total import and export value reached US$30 billion, including US$12 billion of exports. Now, more than 300 chemical enterprises and institutes have obtained foreign

International Competitiveness of China’s Manufacturing Sectors:Estimation Based on Trade in Value-added

Based on trade in value-added, this paper has estimated the revealed comparative advantage （RCA） of China＇s various manufacturing sectors between 1995 and 2011 and compared with the RCA indexes measured using conventional aggregate accounting approach. Results indicate that： （1） the RCA index measured using conventional aggregate accounting approach has underestimated China＇s comparative advantage of labor-intensive sectors but overestimated China＇s comparative advantage in capital, knowledge and technology-intensive manufacturing sectors, giving rise to a serious misjudgment. （2） The RCA measured using value-added approach shows that in the industry chain layout of global manufacturing sectors, China＇s comparative advantage is still concentrated in labor-intensive manufacturing sectors but has signs of weakening; in capital, knowledge and technology-intensive sectors, China is yet to develop any significant comparative advantage; there are signs that China is developing comparative advantage in capital-intensive sectors yet China＇s comparative disadvantage in knowledge and technology-intensive sectors has no significant tendency to improve. This result not only helps correct the misjudgment of China＇s competitiveness in manufacturing sectors based on conventional aggregate accounting approach but offers important policy implications for setting strategic directions and policies for China＇s manufacturing transition and upgrade.

Standardization Promotes Enterprises' Independent Innovation and International Competitiveness

Erdos Group, a large-scale enterprise group with more than 20,000 employees, was developed and expanded from Yih Ju League Cashmere Factory set up and put into production in 1981. Its "Erdos" brand, the first brand in Chinese cashmere textile industry, has won the title of "Chinese Famous Brand".……

The International Competitiveness Analysis of the Current China＇s Solar Photovoltaic Industry

Solar energy is one of clean energies which has the most development and application prospect. And solar photovoltaic industry is the main force foe the development of new energy industry. This paper points out the obstacles which improves the international competitiveness of China＇ s photovoltaic industry based on the analysis of the three big indexes, namely the international competitiveness of photovoltaic industry IMS, TCD and RCI, and proposes the suggestion which enhances the competitive advantage of China＇ s solar photovoltaic industry.

A Study on the Belt and Road Initiative and the Promotion of International Competitiveness of China's Culture Industry

China's pioneering the Belt and Road initiative not only provides a broad space for China's culture industry to enhance international competitiveness, but also puts forward a major project. It includes: optimize and integrate strategic resources through connectivity, cultivate export-oriented cultural enterprises to promote the main body of the industry, optimize the structure of cultural trade by expanding cultural services exports, and build win-win cooperation networks through the connections between Silk Road Cities. This will both contribute to the global distribution and resource allocation of China's culture industry, and benefit the construction of mutually beneficial and cooperative international culture industry communities, so the countries and people of the Belt and Road regions can share their cultural wealth.

A Brief Analysis of the Influence of China-Us Trade Friction on China’s Fragrance and Flavor Industry

Trade friction between China and US have escalated,commodities involved in China-US trade is being affected.China is important import and export market for fragrance and flavor.The United States is the third largest importer and the largest exporter of China’s fragrance and flavor commodities.This round of tariff increasing has important impact on China’s fragrance and flavor trade.In the review,development of China’s fragrance and flavor industry and the situation of their imports and exports,especially trade between China and US,are briefly introduced;focusing on the tariff increasing of fragrance and flavor products between the two countries,the impact of trade friction to the industry is anticipated.

Font of Music Prodigies

China＇s outstanding achievements in music education are all the more impressive in view of its relatively late start.Chinese musicians such as Tan Dun,Yo Yo Ma and Bright Sheng that have established their eminence within Western classical music circles may soon be competing with those currently winning awards in major international music competitions.