基于CRIME理论的康美药业财务造假分析及防范研究

随着经济的快速发展,资本市场中财务造假事件频繁发生,损害了中小股东的利益,给债权人、广大投资者乃至社会带来了巨大的损失。利用传统财务指标对舞弊手段进行识别的作用有限,提出的解决措施治标不治本。因此,需要采用系统的理论对上市公司财务舞弊进行深入分析,才能提出针对性的治理对策。本文运用CRIME舞弊行为理论,从舞弊者、舞弊手段、舞弊动机、监管机制、舞弊后果五个角度,对康美药业舞弊现象进行剖析,针对产生的问题提出了相应的预防措施,以期增强投资者的风险辨识能力。

基于CRIME理论的^(*)ST宜生财务舞弊案例研究

资本市场不断完善对我国经济发展起到重要的推动作用,但同时财务舞弊事件也层出不穷。上市公司财务舞弊行为严重侵害了投资者权益,扰乱了我国资本市场的正常运行,不利于社会经济健康发展。运用CRIME理论,分别从造假行为人、造假手段、造假动因、监督机制、造假结果5个方面对^(*)ST宜生财务舞弊事件进行分析,厘清了财务舞弊的来龙去脉,并针对性地从公司、会计师事务所和监管机制3个角度提供启示,希望对相关主体具有借鉴意义,减少财务舞弊行为的发生,肃清资本市场不良风气。

从CRIME理论看公司财务造假

随着经济的飞速发展,我国上市公司数量逐年增加,但并不是所有的上市公司都能够保持持续盈利或者在行业中占据主导地位,财务造假严重影响着正常的经济运作规律,给社会带来巨大的危害。本文从CRIME理论五个因素出发,以中信国安公司财务造假为案例,对该公司造假者、造假手段、造假动机、监管机制、最终后果进行探究,从中寻找启示。

Understanding Urban Vitality from the Economic and Human Activities Perspective:A Case Study of Chongqing,China

The literature on urban vitality tends to focus on the built environment.This paper argues that some important processes in shaping vitality may be overlooked without examining the intensity and diversity of economic and human activities.Using newly developed spatial big data and adopting the methods of multi-indicator measurement and spatial analysis methods,we analyzed the pattern of urban vitality in Chongqing,a provincial city in western China and,on this basis,evaluated the creation and maintenance of urban vitality from the economic and human activities perspective.Our findings indicate that the impacts of economic and human activities are positive and significant.Among the three intensity and diversity indicators,economic intensity and population density show an effect on urban vitality stronger than that of economic diversity.However,economic diversity has the strongest superposition or interactive effect,and is thus an important foundation dynamic.The positive effect of population density on urban vitality is largely a result of Chongqing’s jobs-housing balance.The case of Chongqing highlights the importance of topographic features,historical inheritance,large-scale migration,and cultural activities in shaping the distinctive vitality pattern of a city.This study contends that the creation and maintenance of urban vitality can not be fully explained without incorporating the impacts of economic and human activities.It contributes to a comprehensive measurement of urban vitality and enriches its connotations.

Economic Stress, Precariousness and Risk of High Blood Pressure: A Descriptive Survey of Life Models within Households of the Central Region of Cameroon

Context/Objective: High blood pressure (HBP) currently represents the most widespread chronic non-communicable disease in Cameroon. The increase in its prevalence in the country is the result of multiple factors including economic stress imposed by precariousness, poor living conditions, sources of anxiety, anguish, depression and other behavioral disorders. Economic stress is a globalizing concept that integrates into a purely hermeneutic approach, a particular functioning of the nervous system of an individual who faces employment problems and precarious remuneration conditions. The non-satisfaction by an individual of his basic needs due to insufficient financial means can cause him to become irritable, aggressive, and socially and symbolically isolated, thereby increasing the desire to resort to morbid life models such as excessive consumption of narcotics and other psychoactive substances often associated with high blood pressure. The fight against the emergence of BPH is a complex, multifaceted and multifactorial reality that requires taking into account economic stress. The main objective of this survey is to describe the situation of economic stress within the Cameroonian population, which imposes precariousness and life models at risk of high blood pressure. Specifically, we determined the level of household income and the sources of income. Methods: A cross-sectional survey with a descriptive aim among five hundred households in the Central Region of Cameroon was conducted. A probabilistic technique called simple randomness was used. The number of households to be surveyed was determined indirectly using the Cochrane formula. Data collection in face-to-face mode using a physical questionnaire took place from July 1 to August 31, 2023, after obtaining ethical clearance from the Regional Health Research Ethics Committee, Human from the Center and an administrative authorization for data collection. Regarding their processing, the data was grouped during processing in Excel sheets. Normality and reliability tests of the collected data were carried out. For this, the Chi-square test was used for data with a qualitative value and that of Kolmogorov-Sminorf for data with a quantitative value. Descriptive analysis was possible using R software version 3.2, SPSS version 25.0, XLSTAT 2016, PAST and EXCEL programs from Microsoft Office 2013. Results: The main results highlight economic stress, with 45.60% of households surveyed earning less than US$154 per month;55% of household heads were women in single-parent families;14% of household heads were unemployed, 22% worked in the private sector and 19% were self-employed. This general economic situation leads to precarious living conditions, thereby increasing the risk of high blood pressure among the Cameroonian population.

Spatiotemporal pattern of climate change in the China-Myanmar Economic Corridor from 1901 to 2018

The China-Myanmar Economic Corridor(CMEC) is an important part of China's Belt and Road Initiative and an important area for global ecology and biodiversity. In this study, the annual and seasonal spatiotemporal patterns of temperature and precipitation in the CMEC over the past century were investigated using linear tendency estimation, the Mann-Kendall mutation test, the T-test, and wavelet analysis based on the monthly mean climatic data from 1901 to 2018 released by the Climatic Research Unit(CRU) of the University of East Anglia, UK. The results show that the CMEC demonstrated a trend of warming and drying over the past 100 years, and the rate of change in Myanmar was stronger than that in Yunnan Province of China. The warming rate was 0.039 ℃/10a. Precipitation decreased at a rate of -6.1 mm/10a. From the perspective of spatial distribution, temperature was high in the central and southern, low in the north of the CMEC, and the high-temperature centers were mainly distributed in the southern plain and river valley. Precipitation decreased from west to east and from south to north of the CMEC. From the perspective of the rate of change, warming was stronger in central and northern CMEC than in southern and northeastern CMEC. The rate of precipitation decline was stronger in the central and western regions than in the eastern region. This study provides a scientific reference for the CMEC to address climate change and ensure sustainable social and economic development and ecological security.

A Survey of Crime Scene Investigation Image Retrieval Using Deep Learning

Crime scene investigation(CSI)image is key evidence carrier during criminal investiga-tion,in which CSI image retrieval can assist the public police to obtain criminal clues.Moreover,with the rapid development of deep learning,data-driven paradigm has become the mainstreammethod of CSI image feature extraction and representation,and in this process,datasets provideeffective support for CSI retrieval performance.However,there is a lack of systematic research onCSI image retrieval methods and datasets.Therefore,we present an overview of the existing worksabout one-class and multi-class CSI image retrieval based on deep learning.According to theresearch,based on their technical functionalities and implementation methods,CSI image retrievalis roughly classified into five categories:feature representation,metric learning,generative adversar-ial networks,autoencoder networks and attention networks.Furthermore,We analyzed the remain-ing challenges and discussed future work directions in this field.

Spatial-temporal Divergence Characteristics and Driving Factors of Green Economic Efficiency in the Yangtze River Economic Belt of China

The spatial and temporal variation of green economic efficiency and its driving factors are of great significance for the con-struction of high-efficiency and low-consumption green development model and sustainable socio-economic development.The research focused on the Yangtze River Economic Belt(YREB)and employed the miniumum distance to strong efficient frontier DEA(MinDs)model to measure the green economic efficiency of the municipalities in the region between 2008 and 2020.Then,the spatial autocorrel-ation model was used to analyze the evolution characteristics of its spatial pattern.Finally,Geodetector was applied to reveal the drivers and their interactions on green economic efficiency.It is found that:1)the overall green economic efficiency of the YREB from 2008 to 2020 shows a W-shaped fluctuating upward trend,green economic efficiency is greater in the downstream and smallest in the upstream;2)the spatial distribution of green economic efficiency shows clustering characteristics,with multi-core clustering based on‘city clusters-central cities'becoming more obvious over time;the High-High agglomeration type is mainly clustered in Jiangsu and Zheji-ang,while the Low-Low agglomeration type is clustered in the western Sichuan Plateau area and southwestern Yunnan;3)from input-output factors,whether it is the YREB as a whole or the upper,middle and lower reaches regions,the economic development level,labor input,and capital investment are the leading factors in the spatial-temporal evolution of green economic efficiency,with the com-prehensive influence of economic development level and pollution index being the most important interactive driving factor;4)from so-cio-economic factors,information technology drivers such as government intervention,transportation accessibility,information infra-structure,and Internet penetration are always high impact influencers and dominant interaction factors for green economic efficiency in the YREB and the three major regions in the upper,middle and lower reaches.Accordingly,the article puts forward relevant policy re-commendations in terms of formulating differentiated green transformation strategies,strengthening network leadership and informa-tion technology construction and coordinating multi-factor integrated development,which could provide useful reference for promoting synergistic green economic efficiency in the YREB.

Economic Resilience in Bangladesh: Analyzing Household Well-Being amidst Price Hikes through ANOVA and Paired Sample t-Test Insights

This study delves into the multifaceted impact of price hikes on the standard of living in Bangladesh, with a specific focus on distinct socioeconomic segments. Amidst Bangladesh’s economic growth, the challenges of rising inflation and increased living costs have become pressing concerns. Employing a mixed-methods approach combines quantitative data from a structured survey with qualitative insights from in-depth interviews and focused group discussions to analyze the repercussions of price hikes. Stratified random sampling ensures representation across affluent, middle-class, and economically disadvantaged groups. Utilizing data [1] from 2020 to November 2023 on the yearly change in retail prices of essential commodities, analysis reveals significant demographic shifts, occupational changes, and altered asset ownership patterns among households. The vulnerable population, including daily wage laborers and low-income individuals, is disproportionately affected by adjustments in consumption, income generation, and living arrangements. Statistical analyses, including One-Way ANOVA and Paired Sample t-tests, illuminate significant mean differences in strategies employed during price hikes. Despite challenges, the prioritization of education remains evident, emphasizing its resilience in the face of economic hardships. The result shows that price hikes, especially in essential items, lead to substantial adjustments in living costs, with items like onions, garlic, and ginger experiencing significant increases of 275%, 108%, and 483%, respectively.

Integrated assessment of yield,nitrogen use efficiency and ecosystem economic benefits of use of controlled-release and common urea in ratoon rice production

Controlled-release urea(CRU)is commonly used to improve the crop yield and nitrogen use efficiency(NUE).However,few studies have investigated the effects of CRU in the ratoon rice system.Ratoon rice is the practice of obtaining a second harvest from tillers originating from the stubble of the previously harvested main crop.In this study,a 2-year field experiment using a randomized complete block design was conducted to determine the effects of CRU on the yield,NUE,and economic benefits of ratoon rice,including the main crop,to provide a theoretical basis for fertilization of ratoon rice.The experiment included four treatments:(i)no N fertilizer(CK);(ii)traditional practice with 5 applications of urea applied at different crop growth stages by surface broadcasting(FFP);(iii)one-time basal application of CRU(BF1);and(iv)one-time basal application of CRU combined with common urea(BF2).The BF1 and BF2 treatments significantly increased the main crop yield by 17.47 and 15.99%in 2019,and by 17.91 and 16.44%in 2020,respectively,compared with FFP treatment.The BF2 treatment achieved similar yield of the ratoon crop to the FFP treatment,whereas the BF1 treatment significantly increased the yield of the ratoon crop by 14.81%in 2019 and 12.21%in 2020 compared with the FFP treatment.The BF1 and BF2 treatments significantly improved the 2-year apparent N recovery efficiency,agronomic NUE,and partial factor productivity of applied N by 11.47-16.66,27.31-44.49,and 9.23-15.60%,respectively,compared with FFP treatment.The BF1 and BF2 treatments reduced the chalky rice rate and chalkiness of main and ratoon crops relative to the FFP treatment.Furthermore,emergy analysis showed that the production efficiency of the BF treatments was higher than that of the FFP treatment.The BF treatments reduced labor input due to reduced fertilization times and improved the economic benefits of ratoon rice.Compared with the FFP treatment,the BF1 and BF2 treatments increased the net income by 14.21-16.87 and 23.76-25.96%,respectively.Overall,the one-time blending use of CRU and common urea should be encouraged to achieve high yield,high nitrogen use efficiency,and good quality of ratoon rice,which has low labor input and low apparent N loss.

On the Adaptability Range, Self-Selection, and Economic Nature of Biological Evolution

This article employs a combined approach of biology and economics to reveal that biological evolution has an economic nature, evolving towards improved energy efficiency. The orthodox Darwinian theory of evolution describes evolution as the random variation of organisms and their survival through natural selection. In fact, the natural environment itself is a constantly changing context, and the strategy to adapt to this change is to enhance behavioral capabilities, thereby expanding the range and dimensions of behavior. Therefore, the improvement of behavioral capabilities is an important aspect of evolution. The enhancement of behavioral capabilities expands the range of adaptation to the natural environment and increases the space for behavioral choices. Within this space of behavioral choices, some options are more effective and superior to others;thus, the ability to select is necessary to make the improved behavioral capabilities more beneficial to the organism itself. The birth and development of the brain serve the purpose of selection. By using the brain to make selections, at least the “better” behavior will be chosen between two alternatives. Once the better behavior yields better results, and the organism can associate these results with the corresponding behavior, it will persist in this behavior. The persistent repetition of a behavior over generations will form a habit. Habits passed down through generations constitute a new environment, causing the organism’s genes to activate or deactivate certain functions, ultimately leading to genetic changes that are beneficial to that habit. Since the brain’s selection represents the organism’s self-selection, it differs from random variation;it is also a rational selection, choosing behaviors that either obtain more energy or reduce energy consumption. Thus, this evolution possesses an economic nature.

Exploring the impact of economic growth and energy consumption on SO_(2) emissions in China based on the Environmental Kuznets Curve hypothesis

This study aims to analysis the influence of economic growth(EG)and energy consumption(EC)on sulfur dioxide emissions(SE)in China.Accordingly,this study explores the link between EG,EC,and SE for 30 provinces in China over the span of 2000-2019.This study also analyzes cross-sectional dependence tests,panel unit root tests,Westerlund panel cointegration tests,Dumitrescu-Hurlin(D-H)causality tests.According to the test results,there is an inverted U-shaped association between EG and SE,and the assumption of the Environmental Kuznets Curve(EKC)is verified.The signs of EG and EC in the fixed effect(FE)and random effect(RE)methods are in line with those in the dynamic ordinary least squares(DOLS),fully modified ordinary least squares(FMOLS)and autoregressive distributed lag(ARDL)estimators.Moreover,the results verified that EC can obviously positive impact the SE.To reduce SE in China,government and policymakers can improve air quality by developing cleaner energy sources and improving energy efficiency.This requires the comprehensive use of policies,regulations,economic incentives,and public participation to promote sustainable development.

Economic Growth Performance and Economic Activities in Kosovo During the Covid-19 Pandemic in Kosovo

The paper addresses economic growth and developments of economic activities during the Covid-19 crisis in Kosovo.After the last war,Kosovo continues to remain among the countries with a low level of development and a high rate of unemployment.The low level of economic growth and the high rate of unemployment remain among the main economic challenges for solution.The importance of the paper consists in addressing economic issues and processes including developments in economic activities during the Covid-19 crisis in Kosovo.Kosovo was affected by Pandemia Covid-19 starting from March 2020.Undoubtedly,the Covid-19 crisis has had effects on economic processes,affecting the activity of various sectors of the economy.The main purpose of this paper is to analyze the performance of economic growth and economic activities during the Covid-19 crisis in Kosovo.In order to achieve the objectives,the analysis method is mainly used,tabular and graphic separately,comparative method,analyzing in dynamics the issue related to economic activities in the Republic of Kosovo.Through this study,the results and recommendations given are considered to be considered by policy makers in the Republic of Kosovo.

Effects of Enclosure on Grassland Ecological and Economic Benefits in Northern China

Grasslands in northern China serve the country as both an ecological barrier and a livestock production base.There,installing enclosures has been becoming the major grassland restoration measure adopted by many local governments.However,the effects of restoration on both ecological and production benefits of grassland remain unclear for implemented grassland restoration policies.Therefore,a representative rangeland in northern China,the Maodeng pasture in Inner Mongolia Autonomous Region was selected as the study area,and remote sensing monitoring analyses were carried out to quantify the ecological benefits and economic benefits from 2015 to 2021.The results showed that:1) in terms of ecological benefits,the grassland area with a grassland coverage rate of more than 60% accounts for 32.3% of the regional area,and 86.4% of its grassland grew significantly better than the same period in2015,showing a significant improvement in grassland growth.Using the average amount of carbon per unit area as the ecological benefit evaluation index,it increased by 27.1% to 32.48Tg C/yr from 2015 to 2021.2) In terms of economic benefits,both theoretical grass production and livestock carrying capacity increased from 2015 to 2021.Compared to 2015,the theoretical grass production in 2021 increased by 24.8% to 71 900 t.The livestock carrying capacity reached 52 100 sheep units in 2021,nearly 11 000 sheep units more than that in 2015.During the study period,multiple economic indicators(on a per capita basis of permanent residents) for the pastoral area of Xilinhot City to which the Maodeng pasture belongs,have grown steadily.Per capita total income rose from 29 630 yuan(RMB) in2015 to 62 859 yuan(RMB) in 2021.Relying on grassland resources to develop the pastoral ecology also broadens the potential economic development space.Overall,the establishment of the reserve and the experiment of implanting an enclosure policy have had a significant and positive impact on Maodeng pasture’s development from both an ecological and economic perspective.With the support of scientific evidence,enclosure policy can be extended to more than 110 000 km~2 of grasslands in northern China with similar precipitation and temperature conditions,enhancing the productive and ecological potential of grasslands.The above research results will contribute to the scientific formulation of grassland pasture quality improvement plans in northern China.

The Windy City’s Dark Side: A Statistical Exploration of Crime in the City of Chicago

This paper presents a detailed statistical exploration of crime trends in Chicago from 2001 to 2023, employing data from the Chicago Police Department’s publicly available crime database. The study aims to elucidate the patterns, distribution, and variations in crime across different types and locations, providing a comprehensive picture of the city’s crime landscape through advanced data analytics and visualization techniques. Using exploratory data analysis (EDA), we identified significant insights into crime trends, including the prevalence of theft and battery, the impact of seasonal changes on crime rates, and spatial concentrations of criminal activities. The research leveraged a Power BI dashboard to visually represent crime data, facilitating an intuitive understanding of complex patterns and enabling dynamic interaction with the dataset. Key findings highlight notable disparities in crime occurrences by type, location, and time, offering a granular view of crime hotspots and temporal trends. Additionally, the study examines clearance rates, revealing variations in the resolution of cases across different crime categories. This analysis not only sheds light on the current state of urban safety but also serves as a critical tool for policymakers and law enforcement agencies to develop targeted interventions. The paper concludes with recommendations for enhancing public safety strategies and suggests directions for future research, emphasizing the need for continuous data-driven approaches to effectively address and mitigate urban crime. This study contributes to the broader discourse on urban safety, crime prevention, and the role of data analytics in public policy and community well-being.

Beyond Equations:The Challenge of Mathematical Rigor in Economics

The mathematical approach is threatening the progress of economics,as it tends to disregard the complexity of economic behaviour and the unpredictability of human actions.——Friedrich Hayek The reliance on mathematical models in economics has long been debated,with critics arguing that this approach fails to capture the complexity of human behavior and the unpredictability of economic systems.While mathematics provides a structured method for analyzing economic processes,it often simplifies decision-making to a one-dimensional utility function,neglecting social,psychological,and political influences.This paper examines the limitations of classical and neoclassical economic theories that heavily depend on mathematical rigor,highlighting the pitfalls of models like the Rational Agent Model,General Equilibrium Theory,and Expected Utility Theory.Drawing on examples such as the 2008 financial crisis and the Terra/Luna cryptocurrency collapse,the paper demonstrates how over-reliance on equations has led to inaccurate predictions and ineffective policy decisions.It calls for a more interdisciplinary approach that integrates insights from psychology and sociology to address the gaps left by traditional mathematical economics.

Comprehensive evaluation and spatial-temporal evolution characteristics of urban resilience in Chengdu-Chongqing Economic Circle

To clarify the connotations and extensions of urban resilience,this study focuses on the Chengdu-Chongqing Economic Circle with 16 cities as research subjects.A comprehensive evaluation index system was constructed to measure the resilience of each city from 2003 to 2020.The spatial-temporal evolution characteristics were analyzed using Kernel density estimation,standard deviation ellipse,and spatial Markov chain analysis,and the spatial Tobit model was introduced to discover the influencing factors.The results indicate the following:①Urban resilience in the Chengdu-Chongqing Economic Circle displays an upward trend,with the center of gravity moving to the southwest,and the polarization phenomenon intensifying.②The urban resilience level in a region has certain spatial and geographical dependence,while the probability of urban resilience transfer differs in adjacent cities with different resilience levels.③Urban centrality,economic scale,openness level,and financial development promote urban resilience,whereas government scale significantly inhibits it.Finally,this paper proposes countermeasures and suggestions to improve the urban resilience of the Chengdu-Chongqing Economic Circle.

A PI+R Control Scheme Based on Multi-Agent Systems for Economic Dispatch in Isolated BESSs

Battery energy storage systems(BESSs)are widely used in smart grids.However,power consumed by inner impedance and the capacity degradation of each battery unit become particularly severe,which has resulted in an increase in operating costs.The general economic dispatch(ED)algorithm based on marginal cost(MC)consensus is usually a proportional(P)controller,which encounters the defects of slow convergence speed and low control accuracy.In order to solve the distributed ED problem of the isolated BESS network with excellent dynamic and steady-state performance,we attempt to design a proportional integral(PI)controller with a reset mechanism(PI+R)to asymptotically promote MC consensus and total power mismatch towards 0 in this paper.To be frank,the integral term in the PI controller is reset to 0 at an appropriate time when the proportional term undergoes a zero crossing,which accelerates convergence,improves control accuracy,and avoids overshoot.The eigenvalues of the system under a PI+R controller is well analyzed,ensuring the regularity of the system and enabling the reset mechanism.To ensure supply and demand balance within the isolated BESSs,a centralized reset mechanism is introduced,so that the controller is distributed in a flow set and centralized in a jump set.To cope with Zeno behavior and input delay,a dwell time that the system resides in a flow set is given.Based on this,the system with input delays can be reduced to a time-delay free system.Considering the capacity limitation of the battery,a modified MC scheme with PI+R controller is designed.The correctness of the designed scheme is verified through relevant simulations.

Transformation power or development pressure:economic growth targets and urban carbon productivity

Maintaining moderate economic growth targets(EGTs)is the key for local governments to effectively implement the“carbon peak and carbon neutrality”goals under the refreshed development pattern.Utilizing panel data of 276 prefecture-level cities in China's Mainland from 2010 to 2020,and employing methods such as intermediary and threshold models,this study empirically analyzes the internal mechanism of EGT’s impact on urban carbon productivity(UCP).Our findings demonstrate that:①The overall EGT during the analyzed period is not conducive to improving UCP.This conclusion remains valid after a series of robustness tests.This effect is more pronounced in the central region and resource-based cities than in the east-west region and non resource-based cities.②EGT not only directly suppresses UCP but also exerts indirect negative impacts on UCP from three aspects:delaying the digital economy(DE),constraining financial expansion(FE),and hindering green technology innovation(GTI).This negative indirect effect is similar to or even surpasses the direct effect,suggesting that the internal relationship between EGT and“dual-carbon”goals should be re-evaluated from a new compound perspective.③EGT not only has a simple linear impact on UCP but also significantly exhibits a dynamic evolution pattern in inverted“U”shape.That is,as EGT continuously upgrades,a nonlinear impact on UCP emerges in the form of“promoting first,suppressing later”.This indicates that surpassing the“degree”limit for EGT will be detrimental to the improvement of UCP.This study broadens the scope of carbon productivity analysis by introducing a new perspective centered on EGT.The insights gleaned from this research offer valuable guidance for local governments to effectively manage economic growth expectations and promote the synchronized achievement of dual-carbon objectives.

The Impact of Digital Finance on High-Quality Development of the Chengdu-Chongqing Economic Circle

This paper developed a comprehensive evaluation system that was able to quantify the levels of high-quality development across the cities within the Chengdu-Chongqing economic circle,and investigate the impact that digital finance had on the cities’high-quality development and the underlying mechanisms through which it achieved this.This comprehensive evaluation system was constructed using statistical data from these cities for the period 2014 to 2020 while also taking China’s high-quality development philosophy into account.The key findings revealed that:(a)Digital finance was able to significantly promote high-quality development in the Chengdu-Chongqing economic circle;(b)Digital finance had a significant positive effect in promoting innovative,coordinated,green,open,and shared development;(c)Digital finance was able to stimulate the high-quality development in the Chengdu-Chongqing economic circle by boosting entrepreneurial dynamism;(d)Digital finance had a significant impact on the high-quality development of the axis areas,while its impact was less discernible in non-axis areas.The insights from this research offer a deeper understanding of the factors that drive high-quality development,the role digital finance plays,and the mechanisms through which digital finance is able to propel high-quality development at the city cluster scale.