Supply-Side Structural Reform, Digital Economy and Corporate Default Risk

In recent years, a lot of corporate defaults have had an impact on the capital market. How to prevent corporate default risks has become an important topic of concern for the academic community, enterprises and the government. We took China’s A-share listed companies from 2012 to 2018 as a sample, and used the double difference method to analyze the impact of supply-side structural reforms on corporate default risks. We found that supply-side structural reforms have reduced the risk of corporate default, and the inhibitory effect has gradually increased. In the relationship between supply-side structural reforms and corporate default risks, corporate financing capabilities have played an intermediary role. Supply-side structural reforms can improve the company’s endogenous financing capabilities, thereby reducing the risk of corporate default. However, we also found that the mediating effect of a company’s exogenous financing capability is not significant. At the same time, the regression results show that the digital economy can play a regulatory role. It can not only actively regulate the relationship between supply-side structural reforms and corporate default risks, but also mediate the mediating effect of corporate endogenous financing capabilities. The results of this article provide some evidence for the synergy between supply-side structural reforms and the digital economy.

Supply-Side Structural Reforms and China's Potential Economic Growth Rate

This paper examines the effect of supply-side structural reforms on China＇s potential economic growth rate in the coming decade according to the data the authors have gathered. Under the rapid growth scenario with the implementation of supply-side structural reforms, China＇s potential economic growth rate will reach an average of 6.5% and 5.8% respectively in the 13th Five-year Plan （2016-2020） and 14th Five-year Plan （2021-2025） periods. These rates are 0.2 and 0.3 percentage points higher, respectively, than that under the baseline scenario with the inertia of historic trends. In implementing supply-side structural reforms, China must transform governmental functions, break monopolies, create a comprehensive competitive market environment, foster the creation of pro-innovation mechanisms, refocus on quality and efficiency, and raise capital utilization and labor productivity.

China's Infrastructure Development and Supply-Side Structural Reforms

Despite significant improvements in transport, energy and information communication technology （ICT） infrastructures, inadequacies still exist in China＇s infrastructure development in light of emerging demand and industrial transition and upgrade. China lags far behind advanced economies such as the United States, Germany and Japan in terms of the quality of transport infrastructures except railroad,＂ electricity infrastructure is insufficient and service efficiency needs improvement; ICT infrastructure requires all-round upgrade and gaps in Internet bandwidth are striking. This paper suggests that, based on the needs of supply-side structural reform, China must reform its investment and financing systems to enhance the efficiency of infrastructure investment. Efforts must be made to enhance air transport and port infrastructure to support industrial upgrade; to develop the energy Internet to address emerging demands; and to forge a new generation of ICT infrastructure with industrial Internet as the priority to prepare China for the new round of industrial competition.

Methods and Countermeasures for Urban Agricultural Supply-Side Structural Reform in the New Era

Based on the theoretical basis of structural reform of agricultural supply side, the status quo and existing problems of urban agricultural supply side in Tian- jin under the new normal were analyzed. On this basis, the paper analyzed the paths of urban agricultural supply-side structural reform separately from the perspec- tives of factors, investment structure and system innovation, and proposed specific policies and opinions on the structural reform of urban agricultural supply side, pro- viding the theoretical basis and realistic basis for the sustainable development of ur- ban agriculture.

The Supply-Side Structural Reforms——Adapting to and Leading China's New Normal

The Central Economic Working Conference proposed supplyside structural reforms which can be regarded as major innovations and necessary measures that adapt to and lead the new normal of economic development. The 13^(th) Five Year Plan is a critical period for the transformation of economic development patterns and economic restructuring, so clarifying the theoretical values and practical significances of the supply-side structural reforms, making a clear explanation of the scientific connotations and policy implications of these reforms from a scientific standpoint, and discussing concrete measures to promote the reforms against the background of the economic new normal not only has academic values but also has important practical implications. Viewed from the practical standpoint of China' s new normal and through analyzing the basic national conditions, this article proposes a roadmap for implementing the proposed reforms and points out that only by doing well in the hybrid operation of "addition, subtraction, multiplication and division", based on the framework of the "five policy pillars", an innovative path of the supply-side structural reforms with Chinese characteristics can be paved.

Setting the Structural Reform of Supply-Side as the Focus and Shifting the Economic Development Model

To focus on SRSS during the 13th Five-Year Plan period(2016-2020) is a necessary response to the changes of the international economic environment and to China's goal of achieving the new normal in economic development. The main reason why the focus shifts from changing EDM to reforming the supply-side structure lies in the fact that structural reform boosts the transformation of EDM, and only by accomplishing the former will the latter be realized. Today SRSS is faced with challenges like different ideologies, insufficient conditions and backward regulations. It should be led by the Five Major Development Concepts proposed by President Xi Jinping, "Innovation, coordination, greenness, openness and sharing," and the "supply-side" and "demand-side" must be simultaneously propelled.

Research on the Socialization of Grassroots Meteorological Services in Agricultural Supply-side Structural Reform

In 2017, the No. 1 Document of the Central Committee proposed that "it is necessary to further promote agricultural supply-side structural reform, accelerate the cultivation of new kinetic energy for agricultural and rural development, and create a new situation in the construction of agricultural modernization". Under the new normal, Zhejiang s agricultural development shows new characteristics and new trends of speed change, structural optimization, and power conversion, and meteorological services for agriculture have stronger demands, higher requirements, and heavier tasks. The socialization of meteorological services is a new type of system arrangement for the provision of meteorological services, and aims to provide high-quality and efficient meteorological service products for the public and promote the equalization of basic meteorological services in urban and rural areas. In this study, through research on the socialization of grassroots meteorological services in a new situation, a new way of the government to provide public weather services is proposed, and a mechanism of the government to purchase public meteorological services is established;social resources and forces are organized and guided to develop the innovation system and mechanism of public weather services, and social resources are fully mobilized to meet the demand for meteorological services in the process of agricultural supply-side structural reform.

Supply-Side Structural Reforms of China's Industries

Supply-side structural reforms are structural adjustments and institutional reforms to address the mismatch between supply and demand and improve TFP. The mismatch is exhibited at the supply side and arises from structural contradictions and must be addressed through reforms. Supply-side structural reforms can be analyzed at the levels of firms, industries and government to arrive at theoretical and systematic conclusions that offer practical guidance. Based on this perspective, this paper proposes policy recommendations on how to deal with zombie firms, reduce cost for manufacturing companies, deepen SOE reforms, eliminate overcapacity, implement ＂Made in China 2025＂ and Internet＋ strategies, promote Beijing-l^anjin-Hebei integrated development, as well as develop the Yangtze River Economic Belt and the old industrial bases of the northeast.

On the Planning of Chinese Marine High-tech Industry Demonstration Zones:From the Perspective of Supply-side Structural Reform

China’s national agricultural high-tech industry demonstration zones focus on supply-side structural reform in their overall plan of development.This paper selected the China’s marine industry as its research subject and analyzes its current situation and major problems.After summarizing the current researches of China’s marine industry parks,from the perspective of supply-side structural reform,this paper specifies the tasks and objectives of the construction of the marine hi-tech industry demonstration zones.The overall planning of the demonstration zones must set distinctive developmen as its orientation,and we should emphasize innovation-driven and green development,devise a functional zoning that embraces marine-land and allround integration,and seek mechanism innovations that could invigorate the inner drive of development.The paper also puts forward the major principles that the planning of marine hi-tech industry demonstration zones should obey in the context of supply-side structural reform.

Efficiency evaluation of industrial supply-side structural reform in Guizhou

In the era of the digital economy, great changes have taken place in the production and trading of enterprises. The emergence of digital technology has brought new impetus to optimize the layout of industrial structures and transform the old and new kinetic energy. Combined with the 14th Five-Year Plan and the requirements of domestic and international dual-cycle development, we construct an evaluation index system for the efficiency of industrial supply-side structural reform from the five dimensions of benefit improvement, innovation-driven, structural optimization, ECO development, and people’s liveli-hood benefit. Based on the data of Guizhou and Sichuan province from 2010 to 2019, the efficiency of industrial supply-side structural reform in Guizhou from the horizontal and vertical perspectives is evaluated by using the entropy weight TOPSISI model, and policy suggestions for industrial development in Guizhou are put forward. Results show that:(1) the level of industrial supply-side structural reform in Guizhou was on the rise since 2015, but the development rate had slowed in the past two years, and the gap was obvious with Sichuan;(2) there is a problem of insufficient development imbalance in Guizhou, which is lagging in four aspects, including benefit improvement, innovation-driven, ECO development, and people’s livelihood benefit.

Research on the relationship between Pension Finance and the Supply-Side Structural Reform in China

The development of pension finance is of great significance to China. first of all, the development of pension finance is conducive to improving China＇s multi-level and multi-pillar pension system, promote the sustainable development of the social security system; secondly, the development of pension finance will create a new ＂blue ocean＂ in the financial markets, which is conducive to the improvement of China＇s financial system and capital market;finally, the development of pension finance will help supply-side reforms,which is conducive to the healthy development of the national economy of china. But now there are many difficulties： first, the top-design of China＇s social security system is not perfect; secondly, the current development model of pension finance in China is unclear, the return on investment mechanism is not perfect, the attractiveness of these projects needs to be improved; finally, under the background of Interact finance, mixed supervision is imminent. Therefore, under the new economic conditions must be structured from the supply side of the reform, the development of pension funds to seek the right ideas.

HUBEI STEPS UP SUPPLY-SIDE STRUCTURAL REFORM

Spicy crayfish has many diehard fans In Beijing.People wait in line for more than two hours or more at Huda Restaurant,renowned for its spicy crayfish.But do you know where all those crayfish come from?Huang Jianxiong,Secretary of the Communist Party of China(CPC)Qianjiang City Committee,told Beijing Review at a recent seminar in

Optimization Analysis of Rural Finance Based on Supply-Side Structural Reform

As the country has been placing greater emphasis on agricultural development,rural finance based on supply-side structural reform has achieved tremendous growth.However,investigations have found that the rural financial market still has problems in its service modes,organizational systems,product innovation,and risk evaluation,thus requiring urgent attention.Therefore,this study analyzes and expounds on these problems from the aforementioned four aspects and proposes the following solutions:encourage the creation of agricultural service institutions,establish and improve the rural financial organization system,vigorously develop new rustic financial products,and strengthen the risk supervision and management of financial markets.Only in this way can the agricultural supply-side structural reform and the innovative development of rural finance be realized.

Influencing Factors and Dynamic Mechanism of Industrial Structure from the Perspective of Supply-side Reform

The supply-side reform is an important measure for the high-quality development of China's economy in the new era. The purpose of this paper is to explore the mechanism and influence of technological progress,human capital,consumption demand,resource endowment and government intervention on the adjustment and upgrading of industrial structure,and to deepen the understanding of supply-side reform.

Study of the Development of Chinese sports Industry in the Context of Supply-side Structura Reform

In recent years,China’s sports industry has witnessed rapid development gradually forming an emerging strength in its Supply-side Structural Reform and thus increasingly being highlighted in the development of the nationa economy.Being integrated,society-based,green and sustainable,the sports industry is gaining popularity among the Chinese people.This paper studies the overall development of Chinese sports industry during the 12th FiveYear Plan period(2011-2015)and unveils the key achievements it made,such as the expansion of scale,the diversification of products and services,the improvement of industry policies,the apparent upgrading and optimization of the industry’s structure and its further integration with the Internet However,there are still some problems in the development of China’s sports industry&Chinese sports industry accounts for a fairly low proportion in the gross domestic product(GDP)and cannot yet compare with those of developed countries.Besides,given that its the sports services make up only a small share and that a supply-demand imbalance still exists in the sports products and services,its industrial structure requires further upgrading and optimization.In addition,failure to fully stimulate an innovation initiative restricts this industry’s further development.Targeting the bottleneck facing Chinese sports industry and corresponding path selection,this paper mainly analyzes its institutional mechanism reform,structural upgrading and layout product quality improvement and talent supply optimization.Based on the analysis,it is concluded that the development of Chinese sports industry is of great importance to China’s economic transformation,upgrading and healthy development and it echoes the call of Supply-side Structural Reform.

China＇s Economic Slowdown under Supply-Side Perspective

This paper creates an analytical framework for ongoing China＇s economic slowdown and reveals the major.factors affecting potential growth rate. First, proceeding from the factors that led to a decline in China ＇s potential growth rate, this paper demonstrates that the slowdown since 2012 is not caused by demand-side shock.s＇ but is a natural result of the demographic transition and the change of economic development stage that stemmed from supply-side factors. It is therefore suggested that the demand- side perspective for cyclical analysis must be abandoned and the supply-side perspective for growth analysis ought to be followed Secondly, this paper argues that it is theoretically unjounded and empirically unconvincing for existing literature based on the growth perspective to simply apply the statistical pattern of ＂regression towards the mean＂ to forecast China ＇s growth outlook and thus arrive at pessimistic conclusions. On this basis, this paper identifies a host of initiatives that can significantly increase potential growth rates and proposes policy recommendations for deriving reform dividends foom supply-side structural reform.

Overreliance on Net Export and Investment Impedes China's Structural Transformation: Estimation and Analysis Based on a Multi-Sector Growth Model

Since reform and opening-up in 1978, changes in China's industrial structure have generally followed the pattern of "Kuznets facts" but still exhibits some unique characteristics, which led us to raise the following three questions regarding China's structural transformation:(1) Why did the share of China's agricultural and manufacturing employment reduce/increase intermittently rather than continuously?(2) Why did the share of China's agricultural employment increase during certain periods? When the share of manufacturing employment reduced, why did the workforce reversely flow into agriculture rather than move to the service sector?(3) Why did growth in the share of China's service sector employment decelerate before reaching its peak? Why did the share of employment in the industrial sector suddenly increase after an abrupt decline? This paper creates a multisector economic growth model that contains non-homothetic preferences and differentiated productivity, and incorporates the "two drivers" therein for a demand-side estimation and analysis. The result shows that China's economic growth model driven by net export and investment is a critical factor for explaining the three questions regarding its structural transformation. This paper believes that only by implementing supply-side structural reforms, reducing the dependence on net export and investment, and achieving sustainable endogenous economic growth will China be able to expedite its industrial restructuring.

Economy, Environment and Government: Study on the Path of Supply-Side Reform Forced by the Fog-Haze

Unbalanced development in term as industrial structure and the efficiency use of energy have aggravated environmental pollution to different degrees resulting in the increase of range, time and degree of fog-haze. This, in turn, forced the government to carry out supply-side reforms, to improve energy efficiency and optimize the industrial structure to weaken the environmental pollution. To tackle these problems, this work provides an index system for the issues related to fog-haze, uses a non-linear ST-SVAR model to reflect the effects of industrial structure and energy use efficiency on fog-haze. Results indicated that: First, current industrial structure and energy use efficiency have greater impact on the comprehensive equation of fog-haze risk than itself. With the passage of time, this influence is still gradually expanding. Second, the equations of industrial structure and energy use efficiency are strongly influenced by themselves, and other variables as the current period have less impact on them. Finally, the non-linear or asymmetric relationship is shown among industrial structure, energy use efficiency, and the fog-haze comprehensive risk equation.

The Supply-side Analysis and Countermeasures of Exuberant Phenomenon of Outbound Consumption at Present

In recent years,the exuberant phenomenon of Chinese residents leaving the country shopping has caused much attention in academic circles.Applying game theory,from the supply-side not the demandside interpreting outbound consumption boom,it is the addition of brand value and reputation guarantee,as a result,the middle-and high-end consumers in our country are more willing to go abroad to purchase well-known foreign brand products,not to purchase domestic products with low prices,and not to favor the high domestic prices of foreign brands.Therefore,to guide the overseas consumption backflow of middleand high-income families,we need to implement supply-side structural reform such as strengthening the brand construction of national enterprises,attaching importance to scientific research input and human capital accumulation.

Research on the Supply-Side Reform Promotes Economic Growth Model in Xi’an

Xi’an is situated at west China, the industrial structure the restriction function which grows to the economy is not balanced more obvious, uni？ es the Xi’an actual situation, speeds up the supplies side constitutive property reform, the promotion industrial structure optimized promotion appears especially importantly. Firstly, this paper analyzes the present situation and development trend of supply-side reform at home and abroad. Based on the situation of Xi’an, the author analyzes ？ ve production-side reforms, such as “de-production,” “de-stocking,” “deleveraging”, “cost reduction” The author puts forward the main problems of Xi’an’s supply-side reform to promote economic growth. Finally, it puts forward the path choice of supply-side reform to promote economic growth in Xi’an. Adhere to reform and expand and demand side, supply side in xian accurate docking, supply and demand in xi ‘an supply side reform should constantly improve production quality, give full play to the market on the supply side of the reform main body role and foster the subject of the new.