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.

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.

A GUIDE FOR SUPPLY-SIDE REFORM

Since the global financial crisis broke out in 2008,one of the major challenges for the world economy is dealing with inadequate effective demand.The Chinese economy is facing this issue as well,but the essence of

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.

Study on the Issue of Supply-Side Reform Path in China’s Marine Ecological Civilization Construction

The construction of marine ecological civilization is the cornerstone of China’s marine ecological civilization and it is of great strategic significance. This paper analyzes the existing problems in the construction of marine ecological civilization from the angle of economics and the essence of the problem is the imbalance between supply and demand. It is imperative to strengthen supply management. On this foundation, it is concluded that the marine ecological civilization needs supply-side structural reform and it puts forward to optimize the industrial structure, develop high-end distinctive industrial clusters, and promote the industrial transfer. According to the principal-agent theory, the Marine Ecological Civilization Governance Committee is set up to improve the marine ecological civilization supply system. Insist on protecting environment and saving resources, and implement a strict legal system and accountability mechanisms. The implementation of marine ecological environment sharing and co-construction and the establishment of cooperative platform are the paths to promote supply-side reform of the marine ecological civilization construction.

On the Supply-side Structural Reform in the Oil and Gas Industry

The supply-side structural reform in the oil and gas industry can be divided into three different levels. At present, there are four major categories of problems—a weak supply insurance capacity, a structural supply and demand imbalance, a certain degree of excess capacity and an imperfect market system. The primary target of supply-side reform in the oil and gas industry is ensuring a clean and efficient supply. The focus is to optimize the allocation of resources, improve resource allocation efficiency, and improve total factor productivity. Under the new situation, we should adjust the strategy and tactics used for supply insurance and carry out three tasks. We must adhere to the principles of "marketization", "globalization" and "integration" reform, strengthen the building of supply insurance capacity, improve the oil and gas market system, optimize the industry structure, and resolve excess capacity.

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.

Research on the Practical Path of Collaborative Innovation Talent Training in Supply-Side Applied Undergraduate Colleges

The cultivation of supply-side collaborative innovation talents mainly focuses on four elements:labor,capital,technology,and system.The improvement of these four elements is essentially a long-term process,which determines the potential growth rate in the medium and long term.In this paper,we analyzed the current situation,put forward two major problems,the low degree of specialization and insufficient participation,and focus on the research on the practical path of collaborative innovation talent training in applied undergraduate colleges from the perspective of the system.

Upcycling municipal solid waste to sustainable hydrogen via two-stage gasification-reforming

As global municipal solid waste(MSW)quantities continue to escalate,serious socio-environmental challenges arise,necessitating innovative solutions.Waste-to-hydrogen(WTH)via two-stage gasification-reforming(TSGR)presents an emergent technology for MSW upcycling,offering to ease waste management burdens and bolster the burgeoning hydrogen economy.Despite early initiatives to advance TSGR technology,a cohesive and critical analysis of cutting-edge knowledge and strategies to enhance hydrogen production remains lacking.This review aggregates literature on MSW upcycling to hydrogen via TSGR,with a focus on optimizing process control and catalytic efficiency.It underscores technological avenues to augment hydrogen output,curtail catalyst costs,and refine system performance.Particularly,the review illuminates the potential for integrating chemical and calcium looping into TSGR processes,identifying opportunities,and pinpointing challenges.The review concludes with a summary of the current state of techno-economic analysis for this technology,presenting outstanding challenges and future research directions,with the ultimate goal of transitioning WTH from theoretical to practical application.

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.

Methanol steam reforming for hydrogen production driven by an atomically precise Cu catalyst

Plasmon-induced hot-electron transfer from metal nanostructures is being intensely pursed in current photocatalytic research,however it remains elusive whether molecular-like metal clusters with excitonic behavior can be used as light-harvesting materials in solar energy utilization such as photocatalytic methanol steam reforming.In this work,we report an atomically precise Cu_(13)cluster protected by dual ligands of thiolate and phosphine that can be viewed as the assembly of one top Cu atom and three Cu_(4)tetrahedra.The Cu_(13)H_(10)(SR)_(3)(PR’_(3))_(7)(SR=2,4-dichlorobenzenethiol,PR’_(3)=P(4-FC_(6)H_(4))_(3))cluster can give rise to highly efficient light-driven activity for methanol steam reforming toward H_(2)production.

Chemical looping reforming of the micromolecular component from biomass pyrolysis via Fe_(2)O_(3)@SBA-16

To solve the problems of low gasification efficiency and high tar content caused by solid–solid contact between biomass and oxygen carrier in traditional biomass chemical looping gasification process.The decoupling strategy was adopted to decouple the biomass gasification process,and the composite oxygen carrier was prepared by embedding Fe_(2)O_(3) in molecular sieve SBA-16 for the chemical looping reforming process of pyrolysis micromolecular model compound methane,which was expected to realize the directional reforming of pyrolysis volatiles to prepare hydrogen-rich syngas.Thermodynamic analysis of the reaction system was carried out based on the Gibbs free energy minimization method,and the reforming performance was evaluated by a fixed bed reactor,and the kinetic parameters were solved based on the gas–solid reaction model.Thermodynamic analysis verified the feasibility of the reaction and provided theoretical guidance for experimental design.The experimental results showed that the reaction performance of Fe_(2)O_(3)@SBA-16 was compared with that of pure Fe_(2)O_(3) and Fe_(2)O_(3)@SBA-15,and the syngas yield was increased by 55.3%and 20.7%respectively,and it had good cycle stability.Kinetic analysis showed that the kinetic model changed from three-dimensional diffusion to first-order reaction with the increase of temperature.The activation energy was 192.79 kJ/mol by fitting.This paper provides basic data for the directional preparation of hydrogen-rich syngas from biomass and the design of oxygen carriers for pyrolysis of all-component chemical looping reforming.

Research on the Reform of the Process-Tracking Ideological and Political Assessment System in Applied Universities:Taking the Personal Finance Course as an Example

Using the Xi’an Mingde Institute of Technology students as the teaching object and the Personal Finance course as an example,we explore the reform of the ideological and political assessment system of process-tracking courses in applied universities.The article analyzes the feasibility of applying the curriculum ideological and political assessment system in college courses and compares the traditional assessment system.It also proposes that applying curriculum ideological and political assessment to the college curriculum assessment system will help improve students’understanding of the“value guidance”in curriculum ideological and political education and enhance the teaching effect.

Optimizing the sulfur-resistance and activity of perovskite oxygen carrier for chemical looping dry reforming of methane

Perovskite oxides has been attracted much attention as high-performance oxygen carriers for chemical looping reforming of methane,but they are easily inactivated by the presence of trace H_(2)S.Here,we propose to modulate both the activity and resistance to sulfur poisoning by dual substitution of Mo and Ni ions with the Fe-sites of LaFeO_(3)perovskite.It is found that partial substitution of Ni for Fe substantially improves the activity of LaFeO_(3)perovskite,while Ni particles prefer to grow and react with H_(2)S during the long-term successive redox process,resulting in the deactivation of oxygen carriers.With the presence of Mo in LaNi_(0.05)Fe_(0.95)O_(3−σ)perovskite,H_(2)S preferentially reacts with Mo to generate MoS_(2),and then the CO_(2)oxidation can regenerate Mo via removing sulfur.In addition,Mo can inhibit the accumulation and growth of Ni,which helps to improve the redox stability of oxygen carriers.The LaNi_(0.05)Mo_(0.07)Fe_(0.88)O_(3−σ)oxygen carrier exhibits stable and excellent performance,with the CH_(4)conversion higher than 90%during the 50 redox cycles in the presence of 50 ppm H_(2)S at 800℃.This work highlights a synergistic effect in the perovskite oxides induced by dual substitution of different cations for the development of high-performance oxygen carriers with excellent sulfur tolerance.

Using Aspen HYSYS to Develop a Custom Molecule-based Reformer Model

A new continuous catalytic reforming model was configured by using a molecule-based reactor module. Themodel was based on the Sinopec Research Institute of Petroleum Processing Co., Ltd. continuous catalytic reformer fullmodel, and was reduced to a size of 157 naphtha molecules (C1−C12) that underwent 764 reactions. The new model inheritedthe advantages of the original model, and had better solving performance and flexibility owing to support by the AspenHYSYS environment. Typical commercial plant data were selected for model validation, which showed advantages in theaccuracy of detailed predictions and the range of its application. In addition, the solving time was reduced from minutes toseconds. Therefore, the simplified model proved to be feasible for industrial application.