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PEI Changhong China Economic Studies    2025, 0 (04): 1-.   Abstract （739）      PDF （716KB）（2411）       Knowledge map    The "Two Integrations"-a fundamental experience of the Party's theoretical innovation summarized in the report of the 20th CPC National Congress and a key concept emphasized by General Secretary Xi Jinping, who has also elaborated on the significance of the "Second Integration"-represent a profound synthesis of Marxist principles with China's realities and cultural heritage. Our party's economic thought that emerged during the New Democratic Revolution period represented the first theoretical innovation integrating Marxist political economy with both the practice of the Chinese New Democratic Revolution and China's excellent traditional culture. It carried forward and developed the Chinese nation's fine tradition of resisting oppression, while innovatively advancing new ideologies against imperialism and feudalism through the civilizational DNA of opposing exploitation embedded in Chinese civilization. This theoretical innovation, forged through the integration of Marxist theory with Chinese revolutionary practice, crystallized China's original theoretical and ideological constructs that provided Sinicized Marxist solutions to the agrarian question and the national bourgeoisie issue. These developments gave birth to the New Democratic political economy, which constituted one of the three fundamental economic programs guiding China's New Democratic Revolution. As the first indigenous innovation in Marxist economic theory to emerge in China, it stands as an exemplary success of the “Two integration" principle –synthesizing Marxist fundamentals with both China's concrete realities and its civilizational essence. Related Articles | Metrics

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Will Canceling Drug Price Markup Reduce Medical Expenses: Outpatient Evidence from County-Level Public Hospitals in Multiple Urban Areas DING Jihong, LIAO Ruoqi, QI Yanling China Economic Studies    2025, 0 (05): 142-.   Abstract （419）      PDF （2911KB）（1079）       Knowledge map    The cancellation of drug price markup and the elimination of "relying on drugs to support medicine" are key parts of the reform of public hospitals in China. Analyzing the implementation effect of the zero markup policy on drugs in urban public hospitals provides a unique perspective for studying physician's induced demand. Based on the data of medical insurance reimbursement in five cities from 2013 to 2017, this paper uses the multi-time difference-in-difference model to study the impact of the drug zero markup policy on outpatient medical expenditure in district and county public hospitals, and to study the effect differences in medical insurance types and hospital levels. The results indicate that: After the implementation of this policy, outpatient drug costs, non-drug costs, and total costs are all significantly increased; Although the cost of Western medicine has decreased, the significant increase in the cost of traditional Chinese patent medicines has brought about an increase in drug costs; The significant increase in non-drug costs is caused by the increase in diagnostic and treatment service costs; The increase in total outpatient costs is more prominent for urban employee medical insurance, female, non-elderly, and tertiary hospital patients. Related Articles | Metrics

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ZHENG Xuemei, ZOU Fenju China Economic Studies    2025, 0 (05): 79-.   Abstract （412）      PDF （1262KB）（646）       Knowledge map    Amid the complex and dynamic global landscape, the increasing threat of supply chain disruption poses a risk to the sustainable and robust development of China's economy. In today's digital era,the digital economy presents new opportunities for bolstering the resilience of manufacturing supply chains. This study empirically estimates the effects of the digital economy on supply chain resilience utilizing data from listed manufacturing companies between 2011 and 2021. Our findings reveal a positive relationship between the digital economy and supply chain resilience. This result remains significantly robust across a series of robustness checks. The channel test demonstrates that the digital economy facilitates supply chain resilience by ensuring the effective flow of information, funds, and logistics within the supply chain operations. Heterogeneity analysis reveals that the role of the digital economy in enhancing supply chain resilience is more significant in enterprises with higher risk management levels, and in enterprises in areas with advantages in the development environment of the digital economy. Finally, based on the research findings of this article, corresponding policy recommendations are proposed. Related Articles | Metrics

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WANG Lili, ZHOU Jianfeng China Economic Studies    2025, 0 (04): 24-.   Abstract （349）      PDF （1402KB）（518）       Knowledge map    This paper proposes an innovative research approach that integrates the system dynamics method with Marx's theory of social reproduction. Based on a dynamic analysis of the processes of capital accumulation and social reproduction, a system dynamics model of Marx's two major divisions of reproduction is constructed. Through simulation analysis, the interaction mechanisms between Division I and Division II under different modes of production are revealed. The results show that the accumulation rates of the two divisions constrain each other and are closely related to the organic composition of capital. Under the socialist mode of production, prioritizing the development of Division II to meet people's needs is essential, but it must be coordinated with the development of Division I. Proper regulation of the accumulation rate in Division IⅡ can effectively prevent economic fluctuations and ensure the stable operation of the reproduction process. The coordinated promotion of accumulation policy and technological progress is an important means to achieve sustained and healthy economic development. The findings provide theoretical support for building a high-level socialist market economy. Related Articles | Metrics

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LI Jiahui, YANG Qiming China Economic Studies    2025, 0 (04): 53-.   Abstract （349）      PDF （819KB）（522）       Knowledge map    Based on data from Chinese cities spanning the years 2016 to 2022, we examine the impact of digital economy policy on the high–quality development of urban economies. Utilizing the establishment of National–level Pilot Zones for Innovation and Development of Digital Economy in 2019 as a quasi–natural experiment, our findings robustly indicate that the construction of pilot zones facilitates high-quality economic development through mechanisms such as factor activation, shifts in kinetic energy, governance empowerment, and infrastructure-driven effects. Building upon this study, we find that the effect of pilot zone is particularly pronounced in cities characterized by non-resource-based , favorable R&D environments, larger scales, and higher levels of economic development. However, no significant heterogeneity is observed concerning geographic location. Spatial analysis reveals that the spillover effects generated by pilot zone construction surpass polarization effects and can effectively drive high–quality development in economically proximate cities. The insights presented in this paper contribute new perspectives and empirical evidence toward a nuanced understanding of the intricate relationship between digital economy policies and high–quality economic development. Furthermore, they offer innovative ideas and references for policy optimization and enhancement. Related Articles | Metrics

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China Economic Studies    2025, 0 (06): 1-.   Abstract （341）      PDF （1337KB）（688）       Knowledge map    Related Articles | Metrics

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REN Li, HUANG Wenyi China Economic Studies    2025, 0 (05): 32-.   Abstract （335）      PDF （1362KB）（1117）       Knowledge map    In his wage theory, Marx scientifically revealed the law of labor value, discussing the influence of labor value, labor supply and demand, and labor-capital relations on wages and their interconnections. Building on this theoretical framework, this article uses relevant statistical data to depict the real dynamics of wage movements in China in the new era, and concludes that the law of labor value provides a strong explanation for China's wage dynamics. Based on this, a simultaneous equation model is constructed to empirically examine the determinants of wage movements in China. The findings show that labor value, labor supply and demand, and labor-capital relations all exert significant impacts on wages. Among them, labor value explains about 50% of wage variation. Labor supply and demand, measured by the unemployment rate, contributes to downward wage pressures to some extent. Meanwhile, labor disputes and recourse to third-party arbitration have become effective short–term mechanisms for Chinese workers to safeguard their interests. Therefore, improving workers' wage levels requires coordinated efforts across multiple dimensions and systematic policy measures. Related Articles | Metrics

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RONG Zhaozi China Economic Studies    2025, 0 (04): 14-.   Abstract （323）      PDF （491KB）（525）       Knowledge map    Socialist political economy with Chinese characteristics is the guiding ideology and theoretical foundation of China's autonomous knowledge system in economics. It is the result of the integration of Marxist political economy with China's specific realities and with the excellent traditional Chinese culture. Socialist political economy with Chinese characteristics is not merely an applied science that uses Marxist theory to solve China's problems, but rather a contemporary Marxist political economy that has been gradually formed through distillation and summary from China's actual conditions, in the process of upholding the orthodox and innovating. It has its own unique theoretical system and academic norms, representing not only a creative reconstruction of Marxist political economy but also a completely new version of modem economics. According to this disciplinary positioning, the theoretical construction of socialist political economy with Chinese characteristics must meet the following two requirements. First, it must respond to all basic and common theoretical issues in economies, providing scientific answers suitable for the practice of socialism with Chinese characteristics; second, it must build a conceptual network based on "original and distinctive concepts", creating a scientific and rigorous, logically coherent theoretical system. In the theoretical construction, disciplinary construction, curriculum construction, and textbook construction of Chinese economics, it is a fundamental premise to clearly define the core status of socialist political economy with Chinese characteristics. Related Articles | Metrics

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ZHAO Shaoyang, LIANG Yunjia, ZHOU Bo China Economic Studies    2025, 0 (05): 154-.   Abstract （321）      PDF （1747KB）（494）       Knowledge map    This paper uses hospitalization data of disabled applicants in Chengdu, a pilot city of long–term care insurance, to examine the catering effect and health effect of cash–subsidized long–term care insurance. We find that: (1) The dynamic DID estimation results show that cash–subsidized long–term care insurance has a catering effect before application, that is, the disabled increase their possibility of receiving cash subsidies through low-cost excessive hospitalization before applying. (2) The further constructed dynamic DDD model indicates that the health effect reduces the hospitalization rate of the disabled by 5.8 percentage points, and the total monthly hospitalization cost by 52.3%. (3) Heterogeneity analysis finds that the health effect is more pronounced among disabled groups with home care providers, lower levels of disability, and lower income levels. Our results test the shortcomings and advantages of cash–subsidized long-term care insurance, providing empirical evidence for improving the design of long–term care insurance benefits in China. Related Articles | Metrics

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ZHANG Yong, LIANG Yiyan China Economic Studies    2025, 0 (04): 165-.   Abstract （287）      PDF （586KB）（377）       Knowledge map    Based on corporate financing constraints and corporate financialization channels under the governance of shadow banking, this paper systematically examines the impact of financial deleveraging policies on the deleveraging of entity enterprises. The research shows that financial deleveraging has significantly accelerated the adjustment of the capital structure of over-indebted enterprises to the target level, indicating that financial deleveraging can effectively drive over-indebted enterprises to delever. Unlike financial leverage, which leads to corporate leverage increase by easing corporate financing constraints and strengthening corporate financialization channels, financial deleveraging mainly leads to corporate leverage reduction by tightening corporate financing constraints rather than restraining corporate financialization channels.Compared with state–owned, large–scale and non–real estate (infrastructure) industries, financial deleveraging has a particularly significant effect on the deleveraging of enterprises in non–state–owned, small–scale and real estate (infrastructure) industries. The loose monetary policy will slow down the deleveraging degree of over-indebted enterprises driven by financial deleveraging by weakening corporate financing constraint channel. This study provides a new research perspective and policy reference for continuing to deepen the structural reform of the financial supply side and promoting structural deleveraging with the orientation of marketization. Related Articles | Metrics

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PENG Qiao, XIAO Yao, YANG Yunyu China Economic Studies    2025, 0 (05): 126-.   Abstract （273）      PDF （606KB）（976）       Knowledge map    Based on the perspective of labor skill characteristics, this paper analyzes the impact mechanism of digital technology development on the income disparity between high and low-skill industries. Empirical tests are conducted using panel data from 136 prefecture-level cities in China spanning 2013 to 2022. The research indicates that digital technology development widens the income gap by promoting skill-biased technological progress while simultaneously narrowing it through increasing the supply of high–skill labor and enhancing industry interconnectivity. The net effect demonstrates that digital technology significantly exacerbates the income gap during the sample period, exhibiting a lag effect. Heterogeneity analysis reveals that market integration, institutional segmentation, government education investment, as well as regional and temporal disparities all differentially modulate digital technology's impact on the income gap. This study offers new research perspectives and policy insights for promoting common prosperity and reducing inter-industry income inequality. Related Articles | Metrics

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YANG Tianyu, HUANG Chongle, WANG Yue China Economic Studies    2025, 0 (04): 149-.   Abstract （270）      PDF （581KB）（441）       Knowledge map    Based on the hand-sorted text of the original litigation judgments of China's A-share listed companies from 2015 to 2021, this paper conducts an in-depth investigation on the causes of China's judicial local protectionism, and further studies the effectiveness of various policies. The research finds that: (1) Listed companies have a higher victory rate in the court of registration, that is, judicial local protectionism does exist; (2) The tax contribution of listed companies to the place of registration has a positive effect on the improvement of their local litigation success rate, that is, the motivation of local government to protect the local tax base is the cause of judicial local protectionism; (3) Political affiliation also leads to judicial local protectionism to some extent, but its importance is less than the role of local government in protecting the local tax base; (4) The improvement of local financial conditions, the reform of centralized judicial jurisdiction and the reform of court personnel and property management can all play a role in alleviating judicial local protectionism. Related Articles | Metrics

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MIAO Xinyu, REN Baoping China Economic Studies    2025, 0 (05): 16-.   Abstract （269）      PDF （2108KB）（480）       Knowledge map    Under the great influence of the new round of scientific and technological revolution and industrial transformation, the leap from traditional productivity to new quality productivity has become the path choice and inevitable requirement for promoting Chinese-type modernization in the new era. In the digital age, the deep integration of the real economy and the digital economy (IRD) is an important way to form new quality productivity. This paper focuses on IRD and the qualitative advancements of the productivity system, aiming to explain the internal logic of the transformation of the quality of productivity systems into new quality productivity systems and the formation of new quality productivity, as well as its development effects.On the one hand, the IRD innovation at the level of technology, factors, organization, and ecology has profoundly changed the qualitative attributes of productivity factors such as science and technology, laborers, means of production, infrastructure, and production organization, which constitutes the new qualitative effect of factors promoting the qualitative transformation of the productivity system into a new quality productivity system. On the other hand, IRD acts on the productivity system with the new quality productivity factors, which creates a large number of new quality productivity in line with the concept of modern development, empowering the real economy to achieve high-quality development. In view of the formation mechanism of the above effects, this paper puts forward the policy orientation and important focus from the academic level, aiming to promote the deeper and higher–quality real–digital integration through the construction of a multi- level support system, and accelerate the qualitative leap of China's productivity system and the emergence of new quality productivity in the digital age. Related Articles | Metrics

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ZHOU Xiaobo, WU Yingming, WU Di China Economic Studies    2025, 0 (04): 70-.   Abstract （267）      PDF （715KB）（462）       Knowledge map    This article empirically investigates the impact of consumption peer effects among left-behind parents at the household level using data from the China Health and Retirement Longitudinal Study (CHARLS). This research discovers that the consumption behavior of left-behind parents is influenced by the consumption of other parents within the same village. This effect is stronger when other parents are also left–behind parents. Heterogeneity analysis reveals a non–linear effect that stabilizes once peer consumption surpasses a certain threshold. Mechanism analysis indicates that the presence of social networks is a prerequisite for the occurrence of consumption peer effects among left-behind parents, while social learning acts as a key channel for the impact of peer effects, with left-behind parents being more inclined to acquire daily consumption habits from peers rather than imitating conspicuous consumption patterns. Specifically, elderly left-behind individuals tend to emulate and learn from the consumption behavior of other elderly left-behind groups. The study also finds that elderly left-behind parents tend to imitate the consumption behavior of other elderly left-behind groups,and that the peer effect on the consumption of left-behind parents is stronger than that of non–left-behind parents. This research is of policy implication by suggesting that left-behind parents need more social care and retirement support. Related Articles | Metrics

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JIANG Lingduo, ZHAO Xiaojing, QI Ji China Economic Studies    2025, 0 (04): 102-.   Abstract （257）      PDF （1356KB）（422）       Knowledge map    The establishment of Cross-border E-commerce Comprehensive Pilot Zones (CEC Pilot Zones) is a significant strategic initiative to stabilize foreign trade and promote consumption, and it is also an effective means to promote the structural transformation and upgrading of the service industry. Based on the panel data of Chinese cities from 2004 to 2019, this paper employs a multi-periods DID model to explore the impact of the construction of CEC Pilot Zones on the development of urban productive services. The findings are as follows: The construction of CEC Pilot Zones can promote the development of urban productive service industries by 18.6 percent. This promotion is mainly achieved through three channels, that is, enhancing the regional informatization level, improving the labor market environment, and reducing urban transaction costs. The establishment of CEC Pilot Zones has mainly increased the development of productive services in areas with high internet penetration and strong innovation capabilities, and it has significantly promoted the development of all sub–sectors of productive services.The government should continue to improve the construction of CEC Pilot Zones to fully leverage their key role in driving industrial transformation and upgrading. Related Articles | Metrics

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CHEN Lei, ZHANG Jilong China Economic Studies    2026, 01 (01): 153-.   Abstract （257）      PDF （697KB）（196）       Knowledge map    Digital inclusive finance expected to play an important role in the process of activating county-level endogenous development capacity and advancing common prosperity. This paper first theoretically analyzes the inherent consistency between the development of digital inclusive finance and county-level endogenous development capacity, as well as the mechanisms through which digital inclusive finance activates endogenous development capacity. Then, based on county-level data from 2014 to 2023, a comprehensive evaluation index system for endogenous development capacity is constructed using machine learning methods, and the impact and heterogeneity of digital inclusive finance on such capacity are empirically examined. The research results show that the development of digital inclusive finance can effectively activate county-level endogenous development capacity, thereby contributing to the realization of common prosperity. Mechanism analysis reveals that digital inclusive finance promotes endogenous development capacity through the integration of the digital and real economies and the return of labor force. Further analysis indicates that the construction of digital infrastructure has a positive moderating effect on the activation of endogenous development capacity by digital inclusive finance. Heterogeneity analysis further shows that in regions with weaker provincial capital spillover effects, higher fiscal expenditure levels, and better–developed financial infrastructure, the promoting effect of digital inclusive finance on endogenous development capacity is stronger. This paper provides new evidence for activating county–level endogenous development capacity and offers a new perspective for achieving common prosperity with Chinese characteristics. Related Articles | Metrics

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Joint Research Team of the State Taxation Administration of Fujian Province and Xiamen University China Economic Studies    2025, 0 (05): 1-.   Abstract （251）      PDF （1267KB）（466）       Knowledge map    The economic thoughts of Xi Jinping contain rich taxation concepts, providing basic guidelines and action directions for the tax work of socialism with Chinese characteristics in the new era. Theory originates from practice. During his tenure in Fujian, Xi Jinping attached great importance to and directly guided tax work,forming rich theoretical thinking and practical achievements, which became the source of water for Xi Jinping' taxation concepts. This paper explains the important discourses and practical explorations of Xi Jinping during his tenure in Fujian on tax work, and systematically and comprehensively sorts out and summarizes the emergence and practice of Xi Jinping's taxation concepts in Fujian from six aspects: "Adhering to the comprehensive leadership of the Party","Adhering to people-centeredness", "Serving national governance", “Serving the new development concepts, “Taxation based on data, and Taxation in accordance with the law and honest tax payment". Related Articles | Metrics

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NING Guangjie, WANG Yu China Economic Studies    2025, 0 (04): 86-.   Abstract （248）      PDF （787KB）（1146）       Knowledge map    This study is based on the China Labor-Force Dynamic Survey (CLDS) and the China Family Panel Studies (CFPS), and it examines the impact and degree of task distances on labor force occupational mobilities. The empirical results demonstrate that an increase in task distances will significantly impede occupational mobility, which constitutes an important component of switching costs. Moreover, the analysis of the proportion of the switching costs indicates that the proportion of task distance is relatively low, and that non–task friction remains the primary factor contributing to the in- crease in switching costs. In conclusion, the mitigation of task differences between occupations, the reduction of unnecessary restrictions in the process of inter-occupational mobility, and the effective reduction of switching costs are all important steps in the development of a well-functioning labor market. Related Articles | Metrics

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WANG Xiaoxia, WANG Wei China Economic Studies    2025, 0 (04): 134-.   Abstract （245）      PDF （718KB）（383）       Knowledge map    This paper exploits the natural experiment of the Class-to-Class Connectivity Project (CCC) and constructs a difference-in-differences strategy based on the China Education Panel Survey to investigate the effect of Information and Communication Technology (ICT) in education on students' development in junior high schools. The findings indicate that CCC exerts a positive impact on the cognitive abilities of students in rural schools,with no statistically significant evidence of effects on test scores. However, CCC significantly improves non–cognitive outcomes, with stronger improvements observed in rural schools. The effects of CCC are primarily concentrated among male students and do not vary with family economic or educational backgrounds, but students owning books at home are more likely to benefit from CCC. Mechanism analysis reveals that increased teacher usage of ICT equipment, enhanced teacher-student interactions in class, and improved student performance on campus are the primary channels. Related Articles | Metrics

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XIAO Yacheng, ZHANG Zenghui, FANG Huliu China Economic Studies    2026, 01 (01): 182-.   Abstract （233）      PDF （599KB）（760）       Knowledge map    Enhancing the employment quality of the rural labor force serves as a micro-level lever for achieving common prosperity, while digital literacy acts as a pivotal enabling factor in the digital era. Drawing on theoretical analysis and utilizing data from the China Family Panel Studies (CFPS), this paper empirically investigates the impact of digital literacy on the employment quality of rural laborers and its underlying mechanisms. The results show that digital literacy exerts a significant positive effect on employment quality, with improvements in digital literacy effectively promoting better employment outcomes. Heterogeneity analysis reveals that, at the micro level, the benefits of digital literacy are more pronounced among youth aged 16-35, workers engaged in non–agricultural sectors, and non-entrepreneurial households. At the macro level, the positive influence of digital literacy is stronger in regions with advanced digital village development and in the eastern and central parts of China. Further mechanism analysis identifies the expansion of social networks and enhanced credit accessibility as key channels through which digital literacy improves employment quality. In addition, the effect of digital literacy exhibits significant heterogeneity across different quantiles of the employment quality distribution. Related Articles | Metrics