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20 March 2025, Volume 02 Issue 02 Previous Issue   

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Theoretical System of Socialist Political Economy with Chinese Characteristics: Preconditions and System Construction BAI Yongxiu , ZHAO Xinghua 2025, 02 (02):  1.  Abstract ( 105 )   PDF (1463KB) ( 97 )   The scientificity and degree of theoretical system construction is an important sign to measure the maturity of a subject. After reviewing and summarizing the construction ideas of the socialist political economy with Chinese characteristics, it is found that there are three main paths: construction by referring to the more mature theoretical system, construction by gathering major practical problems, and construction by focusing on research mainline, Based on the construction ideas of the above three main paths, this paper takes the ownership structure of the means of production in the primary stage of socialism as the logical starting point, takes the production relations in the primary stage of socialism as the object of study, focuses on the dialectical unity relationship between market efficiency and social equity, takes Marxist political economy as the guidance, and draws on the reasonable components of western economics. In close connection with the practice of economic development in the primary stage of socialism with Chinese characteristics, and in accordance with “an overall-particular-overall” structural arrangement, the seven-part system covering the theory of production mode and basic economic system, production theory, distribution theory, exchange theory, consumption theory, macroeconomic theory and foreign economic theory has been constructed. Related Articles | Metrics

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The Theoretical Foundations and Practical Exploration of Constructing a Political Economy Accounting System: A Discussion on the Limitations of the SNA ZHAO Wenrui, LI Bangxi 2025, 02 (02):  14.  Abstract ( 45 )   PDF (652KB) ( 42 )   Under the goal of high–quality development, this article reflects on the SNA and its related indicators ac- counting framework, identifying limitations and issues regarding its compatibility with the characteristics of China's socialist economic activities. From three dimensions—theoretical foundation, methodological basis, and practical basis—the article explores the rationale and importance of constructing an accounting system from the perspective of Marxist political economy. It summarizes the beneficial explorations in indicator accounting frameworks under the current political economic perspective. Finally, the article proposes suggestions for improving data collection and accounting methods to meet the needs of a political economic accounting system. The aim is to establish an accounting system that can reflect China's unique characteristics while also aligning with international standards, providing a scientific basis for relevant indicator calculations and supporting China's high–quality development. Related Articles | Metrics

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From Organizational Control to Algorithmic Control: The Shift of Control Mode and Its Governance in Digital Labor HAN Wenlong, YU Jiaqi, TANG Xiang 2025, 02 (02):  29.  Abstract ( 36 )   PDF (613KB) ( 11 )   With the rapid development of digital technology, labor control has shifted from organizational control to algorithmic control. In terms of organization, evaluation, and discipline, "linear organization", "artificial evaluation", and "rule-oriented" have changed to "network organization", "algorithm rating", and "autonomous participation" respectively, and labor control has been becoming flexible, refined, and concealed. Three kinds of conflicts are hidden behind the change of labor control mode: the conflict between the increase of labor flexibility and the decrease of worker autonomy, the conflict between the decrease of worker's formal subordination to capital and the increase of worker's actual subordination, and the conflict between the popularization of independent participation and the dissolution of worker's subjectivity. It is necessary to establish and improve the information exchange platform for workers, clarify the rights and responsibilities of data products and the order of the platform, guide the formation of diversified employment forms, build a sound governance system, correctly guide digital labor, and create digital wealth.   Related Articles | Metrics

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An International Comparative Study of National Income Distribution under the Goal of Common Prosperity TANG Ya, XU Xianchun, WANG Yang 2025, 02 (02):  42.  Abstract ( 28 )   PDF (1252KB) ( 13 )   National income distribution is a key issue in the study of how to promote common prosperity through high quality development. This paper conducts an international comparison study on national income distribution based on the data of the adjusted international comparable flow of funds table. This study draws the following conclusions: compared to the foreign countries, (i) within the primary distribution, the total income of the enterprise sector erodes the income of household sector, indicating the capital factor is stronger than the labor one in China; (ii) within the secondary distribution, the adjustment function of social security and tax underplay its role; (iii) within the redistribution in kind, the scale of social transfers in kind in China is relatively lower, and the function of public services is limited in improving households' welfare. We suggest to improve the distribution mechanism based on production factors, improve the system of tax, social security and public services, promoting the realization of common prosperity through high–quality development.  Related Articles | Metrics

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A Research on the New Inflection Point of Kuznets Curve:From the Perspective of Technical Progress GONG Gang, XUE Yiwei, WANG Xuesong 2025, 02 (02):  57.  Abstract ( 14 )   PDF (1617KB) ( 6 )   Since the 1980s, the income distribution in Western developed countries has deteriorated again. From the perspective of technological progress among many possible reasons, this paper provides theoretical and empirical explanations for the emergence of the new inflection point of the “Kuznets curve". We find that technological progress will first enable enterprises to obtain higher added value through improving the productivity level. If more of the higher added value flows to the high–income group, the income gap will be widened. In addition, technological progress will reduce the demand for labor in enterprises, and shift labor from manufacturing to low-skill and low-wage services, thus widening the income gap. To some extent, China also seems to be experiencing a re-deterioration of income distribution in its underdevelopment. Therefore, this paper discusses how to solve the contradiction between technological progress and common prosperity. Related Articles | Metrics

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Development Capacity Collaboration, Innovation Value Chain Restructuring and Construction Mode of the New Development Pattern YU Yang 2025, 02 (02):  73.  Abstract ( 30 )   PDF (701KB) ( 21 )   Constructing the New Development Pattern requires restructuring China's innovation value chain. The innovation value chain is the logic chain of value creation from knowledge production to final consumption, encompassing three stages: knowledge production, technology production, and product manufacturing. In the context of deglobalization, the innovation value chain, which traditionally appeared in the form of Global Value Chains, is no longer sustainable, making the construction of a New Development Pattern a choice of the times. The core of reconfiguring China's innovation value chain lies in rebuilding the "technology production" stage, forming a complete supply and demand system from knowledge to products. The restructuring of innovation value chain necessitates the collaboration between "development capability of nation" and "development capability of capital." The development capability of nation utilizes "the project system" to create sustained technological supply, which is then industrialized through the "market-oriented” mechanisms enabled by development capability of capital, thus achieving the goal of constructing the New Development Pattern. Related Articles | Metrics

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Party Organization Governance and Heavy Pollution Enterprises' Green M&A ZHANG Rao , LIU Chen 2025, 02 (02):  86.  Abstract ( 23 )   PDF (592KB) ( 6 )   With the proposal of the "double carbon" goal, green merger and acquisition has become an important lever to facilitate the low-carbon transformation of heavily polluting enterprises in China and build green economy. Taking the merger and acquisition event of listed companies in China's A-share heavy pollution industry in 2014-2022 as the research object, this paper investigates the promoting effect, influence mechanism and function field of Party organization governance on the implementation of green mergers and acquisitions. The study finds that the Party organization governance has significantly promoted the implementation of green mergers and acquisitions in heavily polluting enterprises. From the perspective of influence mechanisms, Party organization governance drives heavy polluting enterprises to undertake green mergers and acquisitions by strengthening the environmental awareness of management and alleviating financing constraints. In addition, the promotion of green mergers and acquisitions by Party organization governance exhibits distinct field characteristics, mainly occurring in the listed enterprises with large scale, strong media supervision, located in old industrial base cities, state- owned nature, a high shareholding proportion of institutional investors and a high proportion of independent directors. The combination of Party organization governance and green merger and acquisition not only demonstrates the positive effect of Party organization governance from a new perspective of ecological environment, but also provides important reference significance for the country and enterprises to build green economy and explore the reform of environmental governance.  Related Articles | Metrics

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The Governance Effect of Reverse Mixed-ownership Reform in PrivateListed Companies: A Perspective from Two Types of Agency Problems LI Minghui, LIU Xiaoxia 2025, 02 (02):  100.  Abstract ( 19 )   PDF (597KB) ( 5 )   Using data from A-share nonfinancial listed companies that were privately controlled at the time of IPO, this paper explores the impact of "reverse mixed reform" on two types of agency problems in private enterprises. The results show that state-owned capital can significantly reduce type II agency costs, but the authors find no evidence supporting the negative effect of state-owned capital on type I agency costs. There is weak evidence suggesting that “reverse mixed-owner- ship reform" will aggravate type I agency problems. The results of heterogeneity tests show that the negative effect of "re- verse mixed-ownership reform" on type II agency costs only exists when the external governance and regional institutional environment are poor, and that the effect is not significant in politically connected enterprises. Additionally, the effect of state-owned capital on agency costs mainly comes from the shareholding of non-financial institutions. This study provides empirical evidence on the effect of state-owned capital intervention on two types of agency problems in private enterprises, helping to understand the governance effect of “reverse mixed–ownership reform". Related Articles | Metrics

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Disability Risk, Long–Term Care Insurance and Household Consumption YUAN Hui, CHEN Shuoqi, DU Mengyang 2025, 02 (02):  116.  Abstract ( 19 )   PDF (580KB) ( 4 )   "One person's incapacity, the whole family's imbalance", incapacity brings financial burden and care pressure to the family, and inhibits family consumption; long-term care insurance provides care services and financial support, which is expected to be an effective measure to prevent the risk of incapacity. This paper constructs an OLG model that includes the risk of incapacity and long-term care insurance, and theoretically examines the impact on household consumption; using 2011–2018 CHARLS data and a fixed–effects model, it empirically examines the effects and mechanisms of the impact on household consumption. The results show that incapacity inhibits household consumption by increasing medical care costs and reducing the labor supply of family members; long-term care insurance helps to raise the level of consumption, promote consumption upgrading, and alleviate consumption inequality. This paper expands the research on the effects of long-term care insurance policies at the household level, and at the same time, it is of practical significance for house- holds to improve their ability to cope with the risk of incapacity. Related Articles | Metrics

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Can the Rural Medical Assistance System Alleviate Multidimensional Poverty:Empirical Analysis Based on CHFS Data TAO Jikun, ZHANG Shengjie 2025, 02 (02):  132.  Abstract ( 22 )   PDF (600KB) ( 6 )   Based on data from the Chinese Household Finance Survey (CHFS), this article investigates the impact of the rural medical assistance system on multidimensional poverty and the mechanism behind it. We find that the rural medical assistance system effectively alleviates absolute poverty, but has limited improvement on multidimensional poverty. The synergistic effect of commercial health insurance and rural medical assistance system has not significantly alleviated multidimensional poverty. The imperfection of the system has led households crowd out net assets and human capital, widening consumption inequality, and limiting its role in alleviating multidimensional poverty. The system has not caused serious ex-ante moral hazard, while the increase in medical expenses reflects both ex-post moral hazard and the result of the release of medical demand. The impact of rural medical assistance system on multidimensional poverty varies heterogeneously among families with different health conditions and age structures. The research provides policy insights for the improvement of the rural medical assistance system. Related Articles | Metrics

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Can the “Village Merging" Promote Rural Basic Education? An Examination of the Value of the Policy of Optimization and Adjustment of Spatial Layout XIAO Ting, GUO Na 2025, 02 (02):  148.  Abstract ( 15 )   PDF (730KB) ( 14 )   In recent years, China has been actively implementing the policy of “Villages Merging", and this paper is to explore the impact of this policy on rural basic education. Based on the manual identification of county statistical data, this paper constructs the applicable conditions for staggered DID. It is found that the Villages Merging has a positive effect on the improvement of rural basic education, and the greater the intensity of Village Merging, the more pronounced this effect is. In the counties with complex terrain, high elevation and steep slope, the effect on education is more prominent. The influence mechanism is that the policy reduces the outflow of rural population and increases farmers' income to improve the level of basic education. In addition, the effect of Village Merging on education will not disappear over time. This paper argues that taking the opportunity of Village Merging to promote the optimization of rural spatial layout is the key to realizing the take-off of rural basic education, and the government needs to introduce a series of measures and systems to ensure equity in education and boost rural revitalization. Related Articles | Metrics

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Will the Digital Rural Development Enhance the Well-being of Rural Residents in China: An Empirical Analysis Based on the China Rural Revitalization Survey Data CHEN Huashuai, MA Wei, ZHANG Lei 2025, 02 (02):  165.  Abstract ( 38 )   PDF (576KB) ( 87 )   This paper uses data from the China Rural Revitalization Survey (CRRS) and digital rural development data of 2020 to explore the impact of digital rural development on the well-being of rural residents. The study finds that: First, digital rural development significantly improves the life satisfaction and life confidence in future of rural residents in China. The digitalization of rural economy, governance, daily life, and infrastructure all contribute to enhancing rural residents' well-being, with the digitalization of rural life having the largest effect. Second, digital rural development enhances the well–being of rural residents by "strengthening rights, improving capabilities, promoting inclusive participation, and fostering a shared ecosystem." Third, the impact of digital rural development on rural residents' well-being varies across four aspects, that is, rural poverty status, rural terrain, changes in physical health status, and relative income levels.    Related Articles | Metrics

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Trade Scale, Social Attention and Female Employment: A Study Based on the Industries of the Republic of China JIAO Jianhua, LI Mengqing 2025, 02 (02):  182.  Abstract ( 22 )   PDF (1305KB) ( 8 )   The development of modern industry has been an important turning point for women's participation in paid labor. However, the resulting social attention that transcends economic realities has multiple impacts on women's employment. Using data from the China Industrial Survey Report, we analyze the relationship between trade scale, social attention and female employment in the industrial sector of the Republic of China. The results show that the expansion of trade scale can significantly increase the number and proportion of female employment. Under the impact of Western learning, trends in women's employment and the women's movement were spawned, and public opinion became widely concerned about the rights of women workers. With increased social attention to women workers, the expansion of trade, on the contrary, lowered the employment ratio of women workers. This negative effect was even more pronounced in regions where monopoly power was stronger. Related Articles | Metrics