Research on the effects of command-and-control and market-oriented policy tools on China's energy conservation and emissions reduction innovation

The impact of environmental regulation on technology innovation is a hot spot in current research where a large number of empirical studies are based on Porter Hypothesis(PH). However, there are still controversies in academia about the establishment of "weak" and "narrow" versions of PH. Based on the panel data of application for patent of energy conservation and emission reduction(ECER) technology of Chinese city scale during 2008-2014, comprehensive energy price, pollutant emission, etc., mixed regression model and systematic generalized method of moments method were adopted, respectively,to study the impact of market-oriented and command-and-control policy tool on China's ECER technology innovation. The results show that the environmental regulation hindered the technological innovation in the immediate phase; however, it turned out to be positive in the first-lag phase. Hence, the establishment of "weak" PH is time-bounded. The command-and-control policy tool played a more positive role in promoting technological innovation in the first-lag phase than market-oriented policy tool. Therefore, "narrow" PH is not tenable. The reason is that the main participants of China's ECER technology innovation are state-owned companies and public institutions. Regionally speaking, the impact which command-and-control policy tool has on technological innovation at sight was nonsignificant in the eastern, the central, and the western regions of China whilst market-oriented policy tool had a negative effect. And market-oriented policy tool in the central region had strongest negative effect, which would diminish in the eastern region and become weakest in the western region. This was related to regional energy consumption level and the market economic vitality.

Dynamic Spatial Evolution of Market-oriented Supply Level of State-owned Land

The purpose of this study is to analyze the characteristics of the spatial distribution and change trend of the marketing level of stateowned land supply so as to provide policy recommendations. Method of spatial autocorrelation analysis is employed. The results indicate that the spatial layout of the land supply marketing level is generally dispersed,but it does assemble in some specific area. The correlation between the marketing level of state-owned land supply and the economic development is not statistically significant. But their relations fluctuate obviously. The overall marketing level of state-owned land supply is increasing and spatially concentrated. The expansion rate of marketing has decreased first and then increased and stabilized now. The high-value cluster center of marketing level of state-owned land supply exists all over the country; however the existence probability of the cluster is bigger in undeveloped areas. It is concluded that spatial autocorrelation analysis is a good method to quantitatively analyze the spatial variation of marketing level of state-owned land supply in China. To grasp the spatial and temporal variations of the marketing level of state-owned land supply is also good to enhance running of the state-owned land market.

Perfecting the Market-Oriented Ecological Compensation Mechanism of Ethnic Minority Areas: A Case Study of Gannan Tibetan Autonomous Prefecture

The construction of the market-oriented ecological compensation mechanism in China is complicated system engineering. China's ecological compensation funds are mainly derived from the public finance, lacking market-oriented operation. That not only increases the financial burden of the government, but also leads to the incomprehensive compensation scope. Moreover, China's ecological compensation lacks market mechanism so that it is difficult to set compensation standards and calculate offsets. This paper takes Gannan Tibetan Autonomous Prefecture as an example to analyze the market-oriented ecological compensation system of ethnic minority areas from the perspective of market economy, so as to provide a theoretical basis and a reference point for the establishment of efficient and reasonable ecological compensation mechanism and policies in ethnic minority areas and provide environmental protection for the sustainable development of economy and society of ethnic minority areas.

Will Market-Oriented Reforms Propel Technology Progress?Empirical Evidence from China’s High-Tech Sectors

This paper aims to explore the effects of market-oriented reforms on industrial technology progress.Based on a theoretical analysis,we performed an empirical study with a marketization index and panel data of high-tech sectors in China.We found that market-oriented reforms had significantly propelled technology progress in China’s high-tech sectors,and the effects became more evident after China’s WTO entry.Market-oriented reforms induced technology progress by increasing capital allocation efficiency,R&D input,and technology diffusion.Among various aspects of market-oriented reforms,the institutional environment exerted the most significant effects,followed by the economy’s non-state sector,product market development,and factor market development;the government-market relationship index influenced technology’s progress the least.The effects are heterogeneous across sectors with different technology attributes and more significant for technology-intensive sectors.Our findings offer policy implications for China’s ongoing market-oriented reforms and policy design for technology progress in high-tech sectors.

World Market-oriented Shanghai Port Machinery Co.Ltd.

Not long ago, the Shanghai Port Machinery Co. Ltd. won the bid during international tender for the cement construction equipment for dams and factory buildings of Phase Ⅱ of the Three Gorges Project, thanks to its excellent product quality, advanced technology content and fine enterprise image, obtaining the contract to build the world’s largest, technically difficult overhead cranes, fully displaying its tremendous strength.

Market-Oriented Electricity Pricing Mechanism Should be Eagerly Set Up in China

Electricity pricing is the core of the power institutional reform in China, which is related to not onlyinterests redistribution of all parties, but also health and security of the entire power industry. Only byaccelerating the reform on pricing mechanism can sound development of the power industry be promoted.

Debt Trap Fallacy

A few years ago,no one would have thought that China's role in the global economy would be what it is today.The architect of China's reform and opening-up policy,late Chinese leader Deng Xiaoping shifted China from a centrally-planned to a market-oriented economy,which is credited for the rapid economic and social development the country has experienced.

Demand-Side Reform:A New Mission to Promote the Dual Circulation Development Pattern

Beginning with increasing effective demand,thedemand-sidereformadvocates for the strategy to expand domestic demand,rectifies distortions in the demand structure,and further aligns demand and supply by reforming the mechanisms for demand formation and regulation,matching supply and demand structures,and easing restrictions on demand.This will enhance economic growth potential and operational efficiency.The demandside reform contributes to developing a super-large-scale market and optimize market functions to form a unified national market.It also helps address significant structural distortions within domestic circulation and move faster to form a new development pattern of dual circulation.As demand-side reform inevitably deals with the vested interests of stakeholders,it presents challenges on par with supplyside structural reform.Therefore,due attention must be given in terms of priority and weight by increasing operational and property household income,transforming governmentt functions,rectifying any excessive market-orientedreforms in certain public service sectors,among others.

Tackle China's Economic Complexities by Deepening Reform and Opening Up: Macroeconomic Outlook, Policy Simulations, and Reform Implementation—A Summary of the Annual SUFE Macroeconomic Report (2018-2019)

Faced with complicated external and internal challenges, China's economy continues to see sluggish growth in 2018. Rapid accumulation of household debts, exacerbation in income inequality, tightened real sector liquidity, escalated trade tensions with the US, and weakened external demand pose key problems in China's macroeconomic landscape. The status quo is exacerbated by soaring uncertainty and weakening confidence in the face of persistent resource misallocations and institutional distortions, which cast more shadow on the already dampened consumer sentiment, sluggish private investment growth, and fallen foreign reserves. This summary report highlights the urgency of deeper structural reforms for tackling the various internal and external problems. Based on the IAR-CMM model, with both cyclical and secular factors taken into consideration, our baseline forecast of real GDP growth rate is 6.4%(6.1% using more reliable instead of the official data) in 2019. Alternative scenario analyses and policy simulations are conducted to assess the consequences of possible downside risks and the corresponding policy options needed to ensure the assumed growth targets. These analyses lead us to conclude that comprehensively deepening reform and opening up, which should be both rule-of-law based and market-oriented, with well-designed and well-conceived strategies that properly weigh short-, medium-, and long-term benefits and costs, should continue to be set as the guidance for China's transformation into a phase with sustainable and high-quality growth.

Impact of fossil fuel subsidy reform in China:estimations of household welfare effects based on 2007–2012 data

Changing the energy subsidy mechanism is a priority of China’s ongoing market-based energy reform.Using the 2007–2012 empirical data,this paper applies an input–output model to evaluate the welfare effects,that is,the expenditure increments of five income groups in 28 provinces,associated with the possible policy scenario of removing the subsidies for fossil fuels.The key findings of this study include,first,that the total indirect welfare effects(i.e.the additional money spent on non-energy commodities)are two-to-three times as large as the direct ones(i.e.the additional money spent on energy).Second,removing the oil subsidy leads to an additional expenditure of 19.74 CNY annually for each resident,which is much larger than the effect of removing the natural gas and coal subsidies.Third,the composition of the indirect effect varies significantly among income groups,because food expenditure contributes to approximately two-thirds of the total indirect effect on average.Finally,the welfare effect is very sensitive to the income level.To promote the smooth reform of the fossil fuel subsidies,we suggest that the government should deal with the coal industry initially,pay special attention to the indirect expense increase,and compensate low-income households for the welfare losses.

An Analysis of Reliability and Competitiveness of a Corporation in China

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