Government subsidies, dual-credit policy, and enterprise performance: Empirical evidence from Chinese listed new energy vehicle companies

The development of the new energy vehicle industry has become a key force driving the goals of carbon peak and carbon neutralization.To better guide future strategies,this study investigates the dual impact of subsidy and dual-integral policies on the performance of new energy vehicle enterprises.This study first theorizes the influential mechanism according to the institutional-based approach and technical innovation theory,and then collects data from listed companies in the new energy vehicle industry from 2016 to 2020.The hypotheses are examined using a two-way fixed-effects model.The findings show that:(1)subsidy policies are can still improve enterprise performance,but not through green technology innovation;(2)the dual-credit policy can improve enterprise performance through green technology innovation;and(3)under current policy conditions,with subsidies declining annually,the interaction effects between the subsidy and dual-integral policies will also decrease.Thus,this study suggests that non-monetary industrial policy,represented by the dual credit policy is a more effective alternative to government subsidies.

New Industrialization: Characteristics, System Development and Implementation Pathway

New industrialization in China, different from its past economic development pattern or patterns in developed nations, is the country’s theoretical innovation based on the positive and negative experiences of industrialization at home and worldwide. New industrialization has various novel characteristics, including new sources of efficiency, new factors of production, new organizational forms, and new constraints. In addition, it has certain particularities arising from modernization with Chinese characteristics. This article summarizes the characteristics of new industrialization from the perspectives of people-centered approach, quality-first concept, independent innovation, green low-carbon economics, digital-real integration, and open circulation. There are four systems for promoting new industrialization: A self-sustained scientific and technological system, a high-end advanced manufacturing system, a green low-carbon circular system, and a division of labor system with domestic and international circulation. The Chinese new industrialization proposes the pathway and policy measures considering the new global situation and the requirements of new goals of strengthening organization and leadership, reducing factor cost, accelerating independent technological innovation, smoothing domestic and international circulation, and optimizing competition environment.

Policy options to promote Chinese new energy vehicles consumption

Inspired by the green revolution,new energy vehicles(NEVs)provide a fresh,alternative mode of transportation for Chinese consumers mat reduce their reliance on traditional,gasoline/diesel-based cars.However,despite strong government support for NEVs in China,the level of uptake by consumers remains slow.Using Shanghai as a case study,this article provides a much-needed insight into local consumers'motivations to invest in NEVs through a survey of 100 Shanghai residents.Results indicate that current NEV promotion policies do not have a significant impact on the cognitive trade-off of NEV consumption under the"Integrated Consumer Behavior Model,"mainly due to inconvenient charging facilities,technical concerns regarding battery,higher prices,and wait-and-see attitudes regarding the pilot policy environment.Drawing on experiences from Sweden and New Zealand,this research serves to enhance knowledge on consumer attitudes towards NEVs and assist policy makers in developing more effective green consumption promotion campaigns in the future.

The Role Played by Agricultural Policy-based Finance in New Village Construction

The necessity of the agricultural policy-based finance in terms of supporting the new village construction is analyzed: in the first place, the theoretical roots of agricultural policy-based finance supporting new village construction are "market failure" and "government intervention"; in the second place, the continual decline of agriculture and the "rural financial market failure" in recent years have become the objective evidence and historical mission for agricultural policy-based finance to support new village construction; in the third place, the combination of agricultural policy-based finance and new village construction is conducive to solving the "three agriculture" problems and facilitating the reform of new village construction. The feasibility of the support is analyzed: firstly, agricultural policy-based finance boasts the status and position of the "primary drive" in new village construction; secondly, the nation continuously deepens the reform of rural financial system and policy-based banks and strengthens the functions of Agricultural Development Bank, which provides policies for agricultural policy-based finance to support new village construction; thirdly, the 14 years' reform and development of Agricultural Development Bank and the eleventh five year plan lay sound practical basis for the support of agricultural policy-based finance to new village construction. Based on the necessity and feasibility, the following six aspects are analyzed to fully display the function of the "first engine" of agricultural policy-related finance to new village construction. Firstly, strengthening the credit and loan aid to grain and cotton and some other agricultural products in the circulation domain; secondly, strengthening the credit and loan aid to agricultural industrialization in processing field; thirdly, intensifying the credit and loan aid to agricultural comprehensive development, rural infrastructure construction, application and promotion of agricultural technology, agricultural production means and agricultural ecological construction; fourthly, intensifying the credit and loan aid to rural special group and regional development; fifthly, intensifying the credit and loan aid to agriculture and rural emergency response system and social security system; sixthly, strengthening the credit and loan aid to agriculture and the intermediary construction of rural financial services.

China's Foreign Policy under New Circumstances (Ⅱ)

The Iraq war and the North Korean nuclear crisis are the two big events that are attracting worldwide attention. The many debates and changes that have arisen around the globe from these two issues, with the former in particular, cannot but cause

The New Normal of China's Macroeconomic Policy

This paper summarizes the theoretical background and realistic considerations for the emergence of the new normal of macro policy. The characteristics of the new normal of macro policy are as follows: 1) a supply-side approach in response to growth slowdown; 2) understanding economic heterogeneity and growth disequilibrium and paying attention to structural regulation; 3) highlighting strategic planning and broadening the horizon of macro policy; 4) re-establishing a benchmark of macro policy and re-initiating local competition; 5) balancing the interests of various stakeholders and understanding the political economy of macro policy; 6) respecting the spillover effects of major countries and implementing responsible macro policies; 7) respecting "market determinism" and recognizing the limitations of macro policy; and 8) propelling institutional developments and creating a basic framework of macro policy. This paper concludes that the new normal of macro policy is not simply a passive adjustment to the new normal of economy but represents an initiative of proactive response that steers the economy towards a more advanced form. In particular, the following issues should be clarified in current macro policy: some of the characteristics will be corrected or phased out, some that coincide with the new normal will be abreast with the times, and some require that a new trail be explored through innovation of macro policy. These components will constitute the basic framework for China's macro policy to transition towards the new normal.

Natural Gas Utilization and Policy Incentives under the Economic “New Normal”

Since the Chinese economy entered the“new normal”stage,natural gas consumption in China has been sluggish and supply and demand have been relaxed.At the same time,environmental protection policies are intensified and the marketization process is accelerated.Many factors have intertwined with each other and affected China’s natural gas consumption.Judging from China’s economic growth,structural adjustment of and energy consumption,and the scale and structure of global natural gas utilization,we believe that there is still significant rise of natural gas consumption in China.However,there are still many problems that hinders the utilization of natural gas,which may be solved by policies and market-oriented reforms.Taking natural gas-based distributed energy as an example,this paper analyzes the change and influence of relevant policies,and puts forward proposed incentive policies to promote the utilization of natural gas in China under the economic“new normal”.

Major Features of the New Situation and China's Foreign Policy

Speaking of "China’s foreign policy under new circumstances," there are five features of the new circumstances in my opinion. All these five features will not fundamentally change in accordance with major events such as the Iraq war, and to a certain extent, determine that China’s basic foreign policy need not and will not make major adjustments.

Seizures Related to Two-child Policy:A Case Report

From 1979 to 2012,the Chinese government implemented the one-child policy to control population growth.In 2013,families in which either parent was the only one child were allowed to apply for a second child.In 2016,China’s universal two-child policy was finally imposed.As such,many children who had always been the center of their family’s universe due to the unique family structure stemming from the one-child policy era became elder siblings during their adolescence.We report a case of a 9-year-old girl who developed seizures after the birth of her younger sister.The combination of clinical observation,laboratory examinations,and video-electroencephalography was not enough to make a confident diagnosis of epilepsy initially.Given her patient history and follow-up investigation,we speculated the two-child policy was related to her seizures.To our knowledge,this is the first report of seizures strongly related to the two-child policy.

Greater China's IPO Embraces Another Breakthrough Driven by Significant“New Policies”

Greater China once again led the global market for initial public offerings(IPOs)with 372 IPOs raising US$60.3 billion,amid the global market experienced divergent performance across regions in a higher volatility environment and a greater range of financing options now available,according to EY’s Global IPO Market Study Report:2015 review and 2016 outlook.Despite a rollercoaster ride in 2015,the Mainland A-share market is expected to have a rewarding year ahead following

The Influence of the Two-child Policy on Urbanization in China

Family planning has been China's basic national policy since 1980, but it changed from a onechild policy to a two-child policy at the end of 2015 as which will further stimulate the rapid growth of China's population and have a profound impact on the population structure and land use in China. Based on the forecast of total population change in national and provincial dimensions after the two -child policy, the paper forecasted the spatial pattern of China's population and provincial differentiation over the next 15 years, and discussed the far-reaching impact on the future urban and rural land use and planning. Conclusions as follows: the two-child policy will achieve rapid population growth in the next 5 years, then there will be a stable growth phase;the peak of China's population increase will occur in 2030 with a total population of about 1.55 billion people, which will continue the regional differentiation of urbanization, and urbanization level in southeastern region will remain generally higher than that of the northwest. In addition, population growth brings new demands in urban and rural construction land, therefore, more intensive use of land will be the inevitable choice for the future development for China.

A Study of the Universal Two-child Policy’s Impact on China’s Future Population

The most essential step in adjusting and improving the childbearing policy, the universal two-child policy will produce far-reaching impacts on the future development of China’s population. With its implementation, the country’s total population will peak later, the underage population and its proportion will increase substantially, the working-age population will experience a slower decline, and the aging of China’s population will be eased. However, the drop in the proportion of working-age people over the last 15 years has expedited the reduction of the demographic dividend, the elderly population will remain unaffected over the next 60 years, the aging of the population will continue to deepen, and at the same time, the increased child dependency burden will expand the overall dependency ratio.

International Comparison and Enlightenment of the Industrial Policies for the New Energy Vehicles

For a long time, the new energy automobile market has been maintained locally and cannot fonn a mechanism of the market competition. Since this year, the State Council has repeatedly broken this abuse, and the abolition of the local catalogue of the new energy vehicles is the right remedy. In the implementation of the new energy vehicles, it is very important to advance the basic equipment. Compared with the purchase tax preferences, consumers need to improve the basic equipment such as the charging piles and improve the basic access environment. At present, the actual situation of the production and marketing of the new energy automobile industry in our country is that it develops fast but is not perfect, and its output and sales are large but its quality is not good. Behind the initial scale, it is the reality that the overall technical level is not high. We still haven't mastered many core technologies such as batteries, motors, and the electronic control and so on.

NEW POLICIES FOR PUDONG DEVELOPMENT

As a major area of China for reform andopening and economic developmentin the 90s and the next century,Pudongis in a period for beefing up its development.The next stage of its development will requirenational support and involvement.For thispurpose,the central government is offeringmore preferential policies on the basis ofcontinuing the former preferential policiesfor Pudong,thus accelerating its developmentduring the Ninth Five-Year Plan period.

New Aspects in Foreign Investment Policy

In the wake of the further expansion of China’s opening to the outside world in recent years, quite a few aspects have been supplemented to the policies of absorbing direct foreign investments.

The Influence of Uzbekistan's New Economic Policy on China-Uzbekistan Cooperation

In December 2016,with the change of President Uzbekistan,its policies and systems have undergone tremendous changes.This article will focus on the specific content of FDI system,tax policy and exchange rate policy in Uzbekistan's economic reform.Taking the“Ohangaron Green City”project and the trade volume between Xinjiang and Central Asia as an example,this paper analyzes its positive impact on China-Uzbekistan cooperation and China-Uzbekistan in terms of prospects.

Realization of the Legal Path of Competition Policy in the New Age and the Significance of the Fair Competition Review System

Against the background of economic globalization and domestic deepening reform in the new era,it is of great significance to establish the basic position of competition policy in the new era for the overall work of comprehensively deepening reform,comprehensively governing the country by law and transforming the strategy of economic development.This paper introduces the basic connotation and great significance of China's competition policy in the new era,and on this basis analyzes and summarizes the feasible legal path of China's competition policy,which focuses on the construction of the fair audit system is analyzed,in order to boost China's economic development.

HongKong's New Policy on Banking Sector

The Hong Kong Monetary Authority(HKMA)recently published a package of policy initiativesto reform the local banking market.First of the two prominent features of thisreform package concerns the deregulation of theremaining interest rate ceilings.The first phase of deregulation,scheduled totake place on July 1,2000,will see the