An Analysis of Digital Finance in Promoting the Development of New Quality Productivity

As a product of the deep integration of financial technology and the digital economy,digital finance plays a significant role in promoting the development of new quality productivity.This paper first elaborates on the connotations of new quality productivity and digital finance and analyzes the mechanisms by which digital finance promotes the development of new quality productivity from both theoretical and practical perspectives.The aim is to explore the value digital finance brings to the development of new quality productivity,along with the challenges it faces,in order to propose corresponding policy recommendations.

How does a data strategy enable customer value?The case of FinTechs and traditional banks under the open finance framework

The coupling of data and digital innovation opens the way for new business in the financial services sector,where customers are placed at the centre of decisions and data can help to develop customer knowledge.To carry out our research,we adopted a multi-case study approach to explore how a data strategy is developed in the retail banking industry,together with its relationship with customer value,paying particular attention to the heterogeneity between traditional banks and financial technology companies(FinTechs).Two main points emerged from the study.Firstly,there are three possible approaches to Open Finance,which are mainly defined by their different corporate cultures,organisational configurations,technological architecture and data value.Secondly,it is not enough to be a FinTech to be best placed to exploit the market,as some traditional banks share the FinTechs’approach to Open Finance.Designing new tailored products,customising their prices and offering them over the right channels through targeted communication are all data-driven initiatives that stem from cross-or up-selling potential,core to the retail banking industry for turning a customer into a cash flow,thus enabling value to be created for customers.Our findings additionally revealed that there is a form of external information asymmetry between the customer and the bank,and that there is also an internal asymmetry between bank departments,as their visibility on information about the same customer may differ.

Finance & Infrastructure Lead New Wave of the Belt and Road Investment

Recently,EY released its report Navigating the Belt and Road:Financial sector paves the way for infrastructure,which raises the fact that with the roll-out of the 'One Belt,One Road' initiative and the implementation of a series of reform measures,Chinese enterprises’outbound investments,led by infrastructure construction,continued its

Structure of the Quarks and a New Model of Protons and Neutrons: Answer to Some Open Questions

The described structural model tries to answer some open questions such as: Why do quarks not exist in the open state? Where are the antiparticles from the Big Bang?

Open banking and inclusive finance in the European Union:perspectives from the Dutch stakeholder ecosystem

In the European Union(EU),the revised Payment Services Directive(PSD2)aims to provide more convenient and customized financial products through open banking(OB)platforms.However,little attention has been paid to the role of OB in improving the financial well-being of the growing number of the EU’s underserved groups,which currently constitute approximately a quarter of its population.This study examines how the PSD2 and OB impact inclusive finance in the EU based on the perspectives of the Netherlands’ecosystem,one of the leaders in the EU’s financial technology(FinTech)landscape.A fundamental distinction can be drawn between the OB users and the ecosystem’s players.Regarding the impact of financial services on the users’inclusivity,while the PSD2 strengthens the infrastructure necessary for financial inclusion,many challenges remain,mainly because it was not designed for this purpose.This study identifies several areas of improvement that include adjustments to the know your customer and anti-money laundering processes for underserved customers,innovative ways to communicate the PSD2’s potential,and the regulation of technology providers’activities to build trust.Meanwhile,from the ecosystem’s position,there is a need to strengthen and improve microfinance regulation according to the opportunities provided by the PSD2 to support microfinance institutions(MFIs)in scaling up and reaching underserved clients across borders with innovative services.OB improvements can also be achieved by organizations formed by MFIs and FinTechs in collaboration with banks.Such hybrid institutions will combine the best features of each of them:knowledge of the needs of local underserved clients from MFIs,technological innovations from FinTechs,and large and trusted customer bases,infrastructures,and access to institutional investments and governments from banks.Finally,an EU inclusive OB sector depends on the centrality of trusted regulators as coordination bodies.The PSD2 requires adjustments for underserved populations’specific needs.OB improvements can be achieved by organizations formed by MFIs and Fin-Techs in collaboration with banks.Regulated technical service providers(TSPs)are crucial to building trust and customer adoption in OB.The European Banking Authority(EBA)may function as coordination body to design inclusive rules by engaging with OB stakeholders.As inclusive finance moves into open-finance and data eras,an increasing regulatory complexity and scope will require networks of innovative and trusted regulators.

Teaching Reform and Practice of Finance under the Background of New Liberal Arts

Under the background of new liberal arts,the problems existing in the teaching process of Finance were re-examined.For instance,the setting of teaching objectives does not meet the requirements of construction of new liberal arts,and teaching content emphasizes theory;teaching method is single,and teaching assessment is not reasonable.It is proposed that the curriculum reform should be carried out from five dimensions:teaching objective,teaching content,teaching method,practice system and teaching evaluation,so as to meet the requirements of construction of new liberal arts.

TPFTZ(Tianjin Port Free Trade Zone)——A New Pattern of China's Openning to the Outside World

Under the guidance of Deng Xiao-ping’s strategic think-ing of openning to the outside world, the structure of om-nibearing openness has basically taken shape in China. Follow-

Establishment of a New Spatial Agglomeration of an Open Economy:Theoretical Basis,Historical Practice and Feasible Pathways

The new spatial agglomeration of an open economy should conform to the spatial agglomeration theory of the new economic geography and the characteristic conditions of the Chinese population,follow the historical practice and development trend of the spatial agglomeration of China’s open economy for the past 40 years since reform and opening up,fit the transformation of the development status and goals of the Chinese economy,and fulfill the requirements of the new era brought about by the new trends of economic globalization.It is necessary to guide the open economy towards a proper clustering in the central and western regions and accelerate the regional opening up.Meanwhile,in order to promote the proper distribution of production factors and the coordinated development of an open economy,we should facilitate the spatial optimization distribution of production factors by employing the comparative regional advantages and endowments,thereby improving the international competitiveness of China’s open economy.

NEW REGULATION BY THE PEOPLE'S BANK OF CHINA-TRADING B STOCKS ABROAD,OPENING ACCOUNTS IN CHINA

The People’s Bank of China promulgated andput in force days ago Regulation on Foreign Ex-change Accounts in China, according to which for-eign individuals or legal persons can open foreignexchange accounts to keep foreign exchange fortrading B stock in China.As stipulated by the regulation, as to foreigncurrency stock accounts opened bydomestic insti-tutions with the income from issuing stocks, theirreceipt shall be income from issuing stocks anddisbursement shall be used for the purposes pro-vided for in the prospectus approved by securitiessupervising organs; as to foreign exchange ac-counts opened by foreign individuals or legal per-sons for trading B stocks in China.their receipt shallbe the income of trading stocks and foreign ex-change remitted or brought in from abroad, andtheir disbursement shall be used for buying andselling stocks.As provided in the regulation, for the purposeof opening B stock account to trade B stocks

Taking the Path of Poverty Reduction with Chinese Characteristics to Promote New Progress in China's Human Rights——A Keynote Speech at the Opening Ceremony of 2018 Beijing Forum on Human Rights

The 2018 Beijing Forum on Human Rights opens on this wonderful autumn day.On behalf of the China Society for Human Rights Studies, I wish to express warm congratulations on the opening of the forum and a sincere welcome to all guests from home and abroad.

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.

Pathways for Elevating China’s Opening-up under the New Development Paradigm

Due to the superimposed impacts of new industrial revolution,the changing trade policy and the COVID-19 pandemic,the world has seen setbacks in globalization,contractions in the global value chain(GVC),and the risk of a fragmented global system.The once-in-a-century changes in our world today highlight the need for China to explore a new development paradigm based on new concepts.In the new era,China must not only come to terms with a backlash against globalization and challenges from the reshaping of international rules,but also breathe life into the“dual circulations,”i.e.domestic and international economic circulations.China must open up wider to the outside world to keep abreast with changes in today’s global governance system.In the complex and volatile international environment,we should explore new areas of development spearheaded by institutional opening up,create new gateways and platforms for opening up and cooperation for mutual benefit,contribute to new global governance and security systems,and promote synergy between domestic and international circulations.In building a great modern socialist country,China must open up wider and be more inclusive to the outside world.

Sustainable Development of New Rural Finance in China

Rural finance is the weakest link in China's financial system. There are still many problems in the traditional rural finance, such as poor business conditions, imperfectly competitive financial markets, and credit information asymmetry; the phenomenon of farmers' loans difficulty has not been fundamentally changed. In order to improve the current situation of rural finance, the state proposes to develop new rural finance and innovate upon rural financial system. The new rural finance has many good development advantages, such as adequate information, flexible operation, and good potential quality of the assets. It is necessary to innovate upon financial products and services, establish the purpose of serving agriculture, countryside and farmers, strengthen the supervision of credit, and improve the financial infrastructure construction, so as to achieve sustainable developments.

Night Opening of Art Galleries and Museums Offers a New Choice For Cultural Consumption

Liu Haisu Art Museum has become one of the few public art galleries in Shanghai to open at night. This small change has led to heated debate inside and outside the industry: can the opening of art galleries at night become the norm?

Chinese Experience in Industrial Development During the Forty Years of reform and opening-up

Over the past forty years of reform and opening-up,China's industry has sustained rapid and sound development and generated impressive achievements.Industrialization has entered the second half of its final stage.This experience of successful industrialization with Chinese characteristics constitutes an important component Chinese wisdom and Chinese approaches,and serves as a reference for other developing countries and countries in transition.The Chinese experience in industrial development during this period includes: progressively promoting industrial and economic system reform adapted to local circumstances; seizing the right moment to firmly integrate into the global system of labor division; pursuing the new path of industrialization featuring coordinated development of the "Five Pillars" in keeping up with the times; and developing an industrialization model with Chinese characteristics with concerted efforts of effective market and enabling government.

Nanomedicine has opened new avenues for cancer diagnosis and therapy

A crucial feature of nanoparticles,such as liposomes,magnetic nanoparticles,quantum dots,metallic nanoparticles,silica nanoparticles,polymersomes and dendrimers etc.,is their higher accumulation in the tumor than in normal tissues1-3.Various nanoparticles have been intensively used as vehicles to deliver

China's Finance Opening to the Outside World

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New Airlines Opened by the Xinhua Aviation Company

The China Xinhua Aviation Company opened for business in the summer of 1994. At that time it had 13 airlines and 42 scheduled flights each week flying from Beijing and Tianjin to other parts of China. Now it has 34 airlines and 122 scheduled flights each week from Beijing and Tianjin to 21 Chinese cities, such as Guangzhou, Shenzhen, Harbin, Jinan, Kunming, Haikou,

Innovation of Chinese Discourse in the Context of Reform and Opening Up

Through reform and opening up,China has moved from the edge of the world arena to the center and this great historical change in its development has created new requirements for the innovation of Chinese discourse.The remarkable achievements of reform and opening up have not only maintained the vitality of Chinese discourse,but also built the inherent foundation for holding confidence in discourse.The key reason why the policy of reform and opening up has facilitated the historic construction of Chinese discourse is that it is a scientific answer to the questions of our times about how to build socialism in a country relatively backward in the level of economy and education.In a new era for the cause of socialism with Chinese characteristics,the innovations and development of Chinese discourse have shown new features rarely seen before,among which the most significant is that constructing Chinese discourse is no longer a matter of individual cases but more of a common phenomenon.In the historic journey towards an all-round in-depth reform,broader theoretical space has been created for Chinese discourse.In addition,it is an important signpost in the path of promoting innovative development of Chinese discourse in a new era,namely,how to"tell China’s stories well",and establish an appropriate mode for conveying Chinese discourse to the world.