New Economy Companies:Impact of COVID-19 on Valuation

The boom of innovative and new technology-oriented companies that provide products and services to customers in recent years has given rise to a new class of firms called New Economy Companies,or NECs.Accurate valuation of these companies throughout their life cycles can be challenging because most of them have massive amount of debt and have a long history of losses since inception,and their principal assets are mostly intangible with no clear values.Inadvertently,the COVID-19 pandemic has added even more obstacles for valuation providers to determine the value of this new type of companies.This paper examines the characteristics of NECs,valuation methods,and the impact of COVID-19 on the valuation of these companies.

New Economy Output Accounts for 15.7% of China's GDP

The value-added output of new industries,new types of business and new business models accounted for 15.7% of China’s GDP last year,up 0.4% from2016,the National Bureau of Statistics(NBS)said recently.

Analysis of the Concept and Connotation of the New Economy and Reconstruction of Its Development Path:A Study Based on Chengdu’s Practices

In order to promote the transformation and development of China’s economy and cope with the realistic challenges posed by the global economic recession and slowing domestic economic growth,the Fourth Session of the 12 th National People’s Congress adopted a strategic resolution on developing the "new economy" and fostering new drivers of growth.Chengdu,capital of Sichuan province,is one of the cities in China which firstly begin to carry out the layout of the new economy development.While achieving results,it also faces many troubles due to its insufficient cognition of the connotation,definition,and path of the "new economy." The paper is based on a theoretical study in combination with the new economic development of Chengdu’s five new paths,to analyze the concept and connotation of the "new economy." It also analyzes from the perspective of higher dimensional reconstruction and new strategic path of economic development,in order to add some insights to the theorectical study and to promote better strategic value of the new economy.

Developing a Curriculum System for Engineering Specialties in New Economy

The new economy,featuring new technology,new industry,new business models,and new patterns,has necessitated the development of new requirements for higher engineering education.This paper analyzes the general quality standards of engineering specialists and the way typical universities are responding to new economy worldwide.It also examines how to develop an appropriate curriculum for engineering undergraduates in new economy in terms of curriculum system,organizational teaching,curriculum content,teaching methods,and curriculum evaluation.

Can information confusion caused by the financing model of new economy companies be eliminated?

New economy companies often use convertible and redeemable preferred shares with equity and debt characteristics as financing tools to reduce risk during their early stages of growth.According to relevant accounting standards,such preferred shares should be classified as financial liabilities and measured at fair value,with changes in fair value recognized in profit or loss.This can lead to confusing financial information:the better a company’s development prospects,the higher its redemption or conversion price and loss,which can result in a large negative net asset value.A successful initial public offering,however,could offset large losses and negative net asset value.Following the development of accounting standards,this article thoroughly analyzes various proposals to modify relevant accounting standards and eliminate confusing information.This article also proposes possible problems and solutions as a reference for accounting standard setters and the various stakeholders in new economy companies.

Digital Engine Powers New Economy

Internet 已成为推动世界经济的强大动力。在美国Internet经济的总额1996年为155亿美元,1997年增加到390亿美元,预计到2001年将猛增至3500亿美元。所以本文作者认为Internet正在推动美国新经济(new economy)时代的到来,并指出与美国的商业部门相比较,美国的政府和教育部门已在Internet经济中落后。尤其是教育。如在过去5年中美国有博士学位的工程师中的1/4来自国外。

NEW HOPES FOR AFRICAN ECONOMY

The majority of African countries won their political independence in the 1960s.Since then,they have been making relentless efforts to develop their economiesand raise their people’s living standards,and have achieved successes in varying de-grees.

The Model of Indirect Pricing Transactions and the New Boundaries of the Sharing Economy

In recent years,the sharing economy has become more prevalent in many lives.While bringing convenience to the public,it has also improved resource efficiency,thus gradually driving economic development.By studying indirect pricing transactions,the authors have discovered a new sort of sharing economics which may be able to resolve the issue presented by intangible assets(such as entrepreneurship)and provide new ideas for addressing social problems.Compared with the traditional sharing economy,this new economic pattern has wider potential utility.The authors hold that their indirect pricing theory establishes the theoretical foundation of new sharing economics,while the model of indirect-pricing transaction extends the boundaries for the existing sharing economy.

Orientation of the New Round of Adjustment in World Economy

Athorough-going change in economic development mode is crucial to the solu-tion of the knotty world economy.The world’s trend in the nineties is toseek a“sustainable development”.The year 1992 winessed the convocationof the United Nations Conference on Environment and Development;the UnitedNaitons Population Conference was convened in 1994;and in March 1995,the U-nited Nations World Summit on Social Development was held in Copenhagen.

Special Economic Zones——New growth points in China's economy

It was approved by the State Council in1984 to establish economic andtechnological development zones in 14coastal port cities to function as windows forthose cities to attract foreign investment,introduce advanced technology andmanagement methods and expand the export-oriented economy. Since 1992, 18 otherdevelopment zones have been approved bythe Council, increasing the number of suchzones to 32.

Human Rights Protection under the New Normal State of Economy

The new normal state of economy is not only the overall trend of China's current economic development stage, but also the strategic choice of China for the future economic development, the anticipation for the economic development and its outcome under the new strategy. It is of great strategic significance for the long-term development of China's human rights as a whole, yet it makes a short-term challenge to the realization of the rights of vulnerable groups. Under the new normal state of economy, it should be targeted to strengthen the protection of the rights of vulnerable groups, which is very important not only for the overall development of China's human rights causes, but also for China to cross over 'the middle-income trap' and to achieve sustainable development of economy.

New Threat to World Economy

The aggregate amount of money and credit in the global economy has risen sharply over the past 30 years,with its growth rate and stock far exceeding that of the real economy or real assets of the world.This is the view of Xiang Songzuo,professor at the Huazhong University of Science and Technology,whose opinion was first published in a recent article in China Business News.Xiang said this situation is a real threat to the world economy.Excerpts of his article are reprinted below:

The World Economy’s New Look

Without a doubt, the sweeping financial crisis has reshaped the world’s economic order. The ripple effect is prompting profound changes to the global economic landscape. The question is:

Pearl of the New Marine Economy

The Zhoushan Archipelago will use its location by the sea to break into a new economy The Zhoushan Archipelago in east China’s Zhejiang Province。