Abstract: This study focuses on short video embedded advertising, aiming to explore the mechanism of the impact of perceived intrusion on consumer purchase intention, and takes psychological resistance and personal involvement as mediating variables to construct a chain mediation model. The results indicate that perceived intrusion has a significant negative impact on purchase intention; Psychological resistance and personal involvement play a mediating role between perceived intrusion and purchase intention, and there is a chain mediation effect between the two. This study enriches the theory of conversion and purchase of short video embedded advertising, and provides strategic suggestions for brand short video advertising practice. Read More

Abstract: Against the backdrop of the global automotive industry's transformation towards "electrification, intelligence, connectivity, and sharing" (the "New Four Modernizations"), patents have become a core indicator for measuring the technological innovation capability of the industry. This study takes the automotive industry in Huangpu District as the research object. It first sorts out the macro-development trend of patents in China's automotive "New Four Modernizations" field, then focuses on three key areas of Huangpu District: power batteries, charging systems, and intelligent perception. Through the analysis of patent quantity, type, technological layout, and enterprise entities, the study reveals the advantages and shortcomings of Huangpu District's patent development. The research finds that Huangpu District has formed characteristics in battery swapping technology and basic research and development of intelligent perception, but there are problems such as insufficient layout of segmented technologies in power batteries and unbalanced structure of charging technologies. Finally, combined with industry trends, strategies such as targeted R&D, technological collaboration, and forward-looking layout are proposed to provide reference for Huangpu District's automotive industry to enhance its patent competitiveness. Read More

Abstract: Against the backdrop of digitalization, traditional financial audits face issues such as low efficiency, limited scope, and delayed risk identification. Big data technology offers a potential solution to these dilemmas. This study aims to systematically construct the key paths through which big data technology enhances financial audit efficiency and clarify the mechanism behind this efficiency improvement. Taking audit projects as Decision-Making Units (DMUs), the research first defines an input indicator system encompassing hardware investment, software investment, and human resource investment, as well as an output indicator system covering audit coverage rate, risk identification accuracy rate, and audit cycle reduction rate. Subsequently, the DEA-BCC model is introduced to measure the efficiency of 27 audit projects. The results show that the comprehensive technical efficiency of big data audit projects (0.892) is significantly higher than that of traditional audit projects (0.678), and this improvement is mainly achieved by enhancing pure technical efficiency (with a difference of 0.214). On the input side, problems such as hardware redundancy and mismatched human resource skills exist; on the output side, the most prominent shortcoming is audit coverage rate. The data analysis, data cleaning, and data collection modules have a significant impact on audit efficiency, with impact coefficients of 0.415, 0.352, and 0.287 respectively. The research findings can provide theoretical references and practical guidance for the digital transformation of audit institutions, helping to improve financial audit efficiency. Read More

Abstract: Based on a time-series analysis of equity factors, this study documents a significant positive risk-return tradeoff for size and value factors in A-share Market, consistent with the predictions of the Arbitrage Pricing Theory (APT). This relationship remains robust after controlling for covariance with the market factor, providing support for Merton’s Intertemporal CAPM (ICAPM). In contrast, the risk-return tradeoff is found to be insignificant for the market factor itself, as well as for other factors. The conclusion continues to hold across a battery of robustness checks. This study refines the theoretical understanding of dynamic asset pricing by empirically validating that the intertemporal risk-return relationship. Read More

Abstract: Japan's "Lost Thirty Years" of economic decline represents not merely an economic cycle adjustment, but a profound crisis stemming from policy missteps, structural transformation failures, and demographic-social shifts. China currently faces multiple challenges including a real estate downturn, soaring debt levels, and population aging - scenarios strikingly similar to Japan's 1980s-1990s period. By analyzing the root causes of Japan's economic collapse - such as policy errors, asset bubble bursts, population aging, and industrial hollowing out - this study explores their implications for China's ongoing economic transition. The analysis aims to help China avoid similar risks and achieve sustainable development. Read More

Abstract: This study examines the operational mechanisms and tangible outcomes of green finance policies on SME financing. Findings indicate these policies substantially enhance credit access and affordability for eligible small and medium-sized enterprises through instruments like interest subsidies, risk-sharing mechanisms, and dedicated credit lines, mitigating persistent financing constraints. Concurrently, regulatory guidance has elevated financial institutions' capacity for environmental risk evaluation, incentivizing SMEs to proactively improve their environmental credentials to secure preferential financing terms. Nevertheless, policy efficacy exhibits marked regional and sectoral disparities, constrained by challenges including environmental information asymmetry and inconsistent eligibility standard application, limiting the full realization of intended benefits. Recommendations include refining policy implementation protocols, fortifying environmental data disclosure and exchange frameworks, and fostering innovation in financial institutions' green product and service offerings to more effectively catalyze SME green transitions. Read More

Abstract: The rural revitalization strategy is a major decision and deployment made by the 19th National Congress of the Communist Party of China, aiming to accelerate the realization of agricultural and rural modernization. It covers various aspects of revitalization, including industry, talents, culture, ecology, and organizations, and promotes each other, which helps solve the "three rural issues", promotes urban-rural integrated development, and achieves balanced and sustainable economic development. Resource-based cities in Sichuan Province have long been facing problems such as resource exhaustion, ecological deterioration and insufficient industrial momentum, and the rural revitalization strategy has brought new opportunities for its development. The choice of rural revitalization paths for resource-based cities in Sichuan Province is a topic worthy of in-depth research. At present, these regions face many challenges in promoting the rural revitalization strategy. They need to systematically analyze existing problems and learn from successful domestic and foreign experiences in order to effectively promote the implementation of the strategy. Through multi-angle discussion, it can provide a practical and feasible development path for the rural revitalization of resource-based cities in Sichuan Province. Read More

Abstract: The Air Quality Index (AQI) is a crucial indicator for measuring air pollution levels and reflecting the potential impact of air quality on public health. Factor analysis is a statistical method used to simplify and understand the relationships among multiple variables. In conducting factor analysis on AQI and its related pollutants (PM2.5, PM10, SO2, CO, NO2, O3), variations in the contributions of these pollutants to AQI were observed. This study selected Chinese urban air quality index tables (monthly) from January 2013 to April 2014, constructed an indicator system from various perspectives of air emissions, and utilized factor analysis to extract common factors and examine the scores of each emission. PM2.5 and PM10 are particulate matters typically originating from combustion and industrial emissions, significantly impacting AQI. SO2 and NO2 primarily stem from the combustion of fossil fuels, particularly in traffic and industrial activities, and exert a strong irritative effect on the respiratory system. CO mainly originates from vehicle exhaust emissions, while O3 is a secondary pollutant generated through photochemical reactions. Through factor analysis, the relative contributions of each pollutant to air quality levels can be determined, thereby identifying major pollution sources and aiding in the formulation of targeted pollution control strategies improve air quality and safeguard public health. Read More

Abstract: Against the backdrop of the high-quality development of culture and tourism, immersive tourism, as a new business format that breaks the traditional tourism model and promotes the in-depth integration of culture and tourism, is driven by policy guidance, technological iteration, market demand, and industrial upgrading. This paper sorts out the development status and typical models (technology-driven, culture-empowered, and interactive participation-based) of immersive tourism scenic spot formats, analyzes their core driving factors, and explores four major future development trends: cultural immersion shifting from "form imitation" to "spiritual resonance", technological application transforming from "technology accumulation" to "experience service", business format integration expanding from "single project" to "holistic immersion", and experience value upgrading from "entertainment consumption" to "cultural identity". Meanwhile, combined with cases such as "Twelve Hours in Chang'an", it analyzes the challenges in the development of the business format and corresponding countermeasures. The research shows that the immersive tourism scenic spot format is an important path for the high-quality development of culture and tourism. Its development requires balancing the cultural core and technological application, which provides directions and references for the transformation and upgrading of scenic spots. Read More

Abstract: Within the context of China's rural revitalization strategy, National Key Rural Tourism Villages represent critical intersections of cultural heritage preservation and local economic development. These villages encounter multifaceted challenges during their mature development and subsequent redevelopment phases. This study investigates Caijiapo Village in Xi'an City as a case study. Employing a Participatory Rural Appraisal (PRA) approach integrated with factor analysis and in-depth interviews, we constructed a comprehensive adaptive capacity evaluation index system. This system assessed villager adaptability across six key dimensions: policy, social, ecological, economic, cultural, and psychological. Our findings identify policy support, economic incentives, and cultural identity as the principal drivers of adaptive capacity. However, significant shortcomings were observed in community participation mechanisms and cultural safeguarding practices. Consequently, this study proposes strategic recommendations focused on optimizing policy guidance, enhancing community governance capacity, and fostering deeper integration between cultural assets and economic development. This research offers a novel perspective and a practical foundation for formulating sustainable development pathways for National Key Rural Tourism Villages. Read More

Abstract: Recent advances in life sciences and biotechnology have driven a new technological revolution, positioning the biopharmaceutical industry as a global leader. However, China’s biomedical technology still lags behind international standards. To capitalize on global biotechnology opportunities and enhance competitiveness, this study employs Bayesian model averaging to account for uncertainty, predict outcomes, and identify key influencing factors. Notably, China’s biopharmaceutical industry shows significant agglomeration, but domestic industrial division of labor remains weak, highlighting the need to strengthen and optimize industrial chain coordination. Read More

Abstract: This study focuses on the issue of spatial rights and interests of lowincome communities in the process of urban renewal, with particular attention to residents’ housing safety, the loss of public space usage rights, and their insufficient participation in urban planning and decisionmaking. Through literature review, case analysis, and other methods, this paper reveals the negative impacts of the commercialization of public spaces, the disruption of social networks of lowincome groups, and the inadequacy of participation mechanisms on social equity in urban renewal projects. The study proposes a series of strategies aimed at promoting social justice, enhancing community cohesion, and optimizing the use of public spaces, so as to provide practical guidance and policy recommendations for building inclusive cities. Read More

Abstract: Supply chain finance, a key tool for optimizing capital allocation across the industrial chain, faces core risks centered on disruptions and blockages in capital flows. This study focuses on capital flow risk in the context of supply chain finance, constructing a multi-level risk identification and quantitative assessment model and conducting empirical testing based on enterprise financial data. The study first systematically examines the formation mechanisms and transmission pathways of supply chain capital flow risk, identifying key dimensions such as core enterprise credit risk, trade background authenticity risk, operational risk, and external environmental risk. Furthermore, combined with enterprise financial statement data, a comprehensive capital flow risk assessment model integrating logistic regression with an indicator-based early warning system is constructed. The empirical analysis utilizes the financial data of 500 sample enterprises across the upstream, midstream, and downstream supply chains in my country's manufacturing and wholesale and retail sectors over the past five years, along with selected supply chain finance business data, which has been rigorously cleansed and processed. The results demonstrate that the quick ratio and cash flow gap volatility of core enterprises significantly explain the overall supply chain capital flow risk; abnormally prolonged accounts receivable turnover days for small and medium-sized enterprises is an important early warning signal of risk; the model achieves an 82.3% accuracy rate in identifying high-risk enterprises, with an average early warning time of three months. This study provides financial institutions with operational model tools and data support for accurately identifying, quantifying and managing supply chain finance cash flow risks, and has practical value for improving the robustness and efficiency of supply chain financial services. Read More

Abstract: This article explores the policy effects and welfare impacts of "default enrollment" in the U.S. retirement savings system. As a "nudge" tool in behavioral economics, default enrollment significantly increases retirement plan participation through inertia and status quo bias, improving savings coverage and investment quality in the short term. However, extensive empirical research indicates that default enrollment can also induce behavioral inertia: employees tend to remain at low contribution rates, not actively manage their accounts, and even experience account churn. This "passivity" not only weakens long-term savings but also reflects a structural mismatch between employer incentives and employee benefits. Therefore, relying solely on increased participation rates is insufficient to demonstrate welfare improvements. This article advocates retaining the advantages of default enrollment while introducing automatic contribution increases, regular re-enrollment reminders, and financial education to mitigate long-term passive behavior and truly enhance individuals' retirement financial security. Read More

Abstract: In the ever-evolving world of digital marketing, influencer marketing, leveraging its ability to precisely reach users and establish emotional connections, has become a primary method of engagement between brands and users. Social media posts are a key vehicle for influencers to convey information and drive engagement. The type of content in these posts directly influences user engagement and the depth of their engagement. This article examines social media posts in influencer marketing, focusing on the relationship between content type and user engagement. After reviewing existing research and incorporating the characteristics of social media communication, tweets are categorized into five types: product information, emotional resonance, knowledge and science, interaction-enhancing, and lifestyle-sharing. From a theoretical perspective, this article analyzes the impact of these different types of tweets on user engagement behaviors such as likes, comments, reposts, and favorites. The study found that emotional resonance and interaction-enhancing tweets are more effective in generating deep user engagement. While product information tweets can help users better understand the product, they can be overly commercial, potentially discouraging engagement. Knowledge and science-based and lifestyle-sharing tweets can play a long-term role in cultivating user stickiness. The research conclusions of this article can provide a theoretical reference for influencers to optimize their tweet content and improve marketing effectiveness. It can also help brands select the type of influencer content that suits them, build more effective marketing processes, and enrich research in the field of influencer marketing and user behavior. Read More

Abstract: As the core driving force behind the new round of technological revolution and industrial transformation, artificial intelligence (AI) is profoundly empowering the process of new-type industrialization, propelling the manufacturing sector towards intelligent, high-end, and green transformation. Based on the techno-economic paradigm theory, this paper systematically analyzes the internal mechanisms, practical progress, and challenges associated with AI-enabled new-type industrialization. Research indicates that China has achieved notable application outcomes in core industrial processes such as intelligent production scheduling, predictive maintenance, and visual inspection. However, structural bottlenecks persist, including constraints on key core technologies, difficulties in implementing AI in industrial scenarios, a shortage of high-end interdisciplinary talent, and a lack of standardized norms and legal safeguards. To address these issues, this paper proposes strengthening foundational research and breakthroughs in core technologies, expanding typical industrial application scenarios, constructing a multi-tiered talent cultivation system for AI, and accelerating the development of standards and specialized legislation. These measures aim to systematically advance the deep integration of AI with new-type industrialization, providing theoretical foundations and pathway references for building a modern industrial system and realizing the strategy of making China a manufacturing powerhouse. Read More

Abstract: Macao is famous for its booming gambling industry. The gambling industry plays an important role in the local economic system by creating huge revenue for the local government, therefore it leads rapid economic growth, society’s stability, and reversed the situation of economic recession in Macao before its return. We all know that gambling industry leads Macao’s economic growth, but a few people know the detailed information about gambling. In this text we will deeply study Macao's gaming industry by introducing the development of gambling, analyzing the its contribution to local economy, the potential problems it has, and the future strategies in solving the gambling’s problems to develop better. Read More

Abstract: In Mongolia, where e-commerce is underdeveloped, social commerce conducted via platforms such as Facebook serves as the primary marketing channel. Businesses share brand-related information on Facebook to enhance brand awareness, build trust, and stimulate purchase behavior. This study focuses on Mongolian Facebook communities and develops a model to investigate how brand information sharing influences consumers' purchase intention toward brands. The model incorporates brand knowledge and brand trust as mediating variables, and brand information characteristics (value, clarity, completeness) as moderating variables. A questionnaire survey was conducted using adapted established scales. The survey was distributed online to Facebook users in Mongolia. Data analysis and validation were performed using SPSS 23.0, PROCESS 3.5, and AMOS 23.0. Empirical results indicate that brand information sharing has a positive impact on brand knowledge and brand trust. The characteristics of brand information moderate this relationship: higher-quality information strengthens users’ interest in the brand, deepens their understanding, and enhances trust. Brand knowledge and brand trust mediate the relationship between brand information sharing and purchase intention. Consumers’ willingness to purchase is driven not only by exposure to information but also by their understanding of and trust in the brand. Brand knowledge and trust are identified as key factors influencing purchase intention. In Mongolia, where consumers heavily rely on social media for brand information, this mechanism is particularly important. Managerial recommendations suggest that companies should share high-quality, credible, and valuable brand content on social media and strengthen consumer interaction to foster brand knowledge and trust. The study acknowledges limitations, such as the sample being limited to Mongolian Facebook users. Future research could explore other social media channels or emerging formats. … Read More

Abstract: This paper analyzes NIO's strategic layout and development status during the popularization phase of the new energy vehicle industry, employing a multi-source data triangulation method to conduct an in-depth study from multiple dimensions, including financial performance, technological R&D, product matrix, battery swap network, and global expansion. The research indicates that NIO maintains a leading position in the high-end pure electric market, with its battery swap network and full-stack self-developed technology forming its core competitiveness. However, it also faces challenges such as persistent financial losses, production capacity bottlenecks, and intensified market competition. Based on a SWOT analysis, this paper further reveals the contradictions and risks in its strategic execution and proposes an optimized path to seek a balance between "expansion" and "profitability," providing theoretical references for its sustainable development. Read More

Abstract: As a strategic emerging industry, the low-altitude economy is pivotal to restructuring China’s industrial system and advancing regionally balanced, high-quality growth. Using a provincial panel for 30 regions over 2012–2023, we construct composite indices of the low-altitude economy and the digital economy via an entropy-weighting approach (with PCA as an alternative measure), and identify the causal impact of provincial low-altitude pilot programs through a multi-period difference-in-differences framework combined with an event-study design, controlling for province and year fixed effects. We find that the pilot policy significantly promotes low-altitude development: the index rises by about 47.73 points on average, with effects materializing in the adoption year and persisting for at least three subsequent years. The policy impact is insensitive to baseline digitalization, no statistically significant threshold is detected, and effect sizes strengthen with policy duration, consistent with institutional learning and adaptation. We also document “compensatory selection”: provinces with relatively lagging digital economies but stronger low-altitude industrial foundations are more likely to be designated as pilots. Conditional on pilot status, the digital-economy index is negatively associated with the low-altitude index, suggesting short-run resource substitution. Results remain robust to PSM-DID, placebo tests, instrumental-variable strategies, alternative time windows, and index remeasurement. The study provides credible evidence on the effectiveness of emerging-industry policies and actionable implications for optimizing regional development strategies. Read More

Abstract: This paper constructs indicators for manufacturing upgrading and digital trade development using provincial-level panel data from China. It empirically analyses the impact and underlying mechanisms of digital trade on manufacturing upgrading. Findings reveal that the level of digital trade development exerts a significant and robust positive influence on manufacturing upgrading. Mechanism analysis indicates that technological innovation plays a mediating role in digital trade's promotion of manufacturing upgrading, albeit with short-term conversion lags. Based on these results, this paper proposes policy recommendations: enhancing digital trade infrastructure, improving technological innovation conversion efficiency, and strengthening industrial collaboration and talent cultivation. These aim to elucidate pathways for digital trade to foster high-quality manufacturing development, providing theoretical foundations and empirical references for policymakers and industry practitioners. Read More

Abstract: In the context of Digital China and the broader drive toward Chinese modernization, artificial intelligence has emerged as a critical catalyst for advancing volunteer services. This paper examines how AI promotes efficiency through digital intelligence empowerment, reinforces ethical practices via mechanism innovation, and fosters collaborative synergy through platform construction. Despite these advancements, challenges such as value conflicts, coordination gaps, and uneven resource distribution continue to impede progress. To address these issues, a three-dimensional strategy encompassing conceptual, mechanistic, and resource-based adjustments is proposed to facilitate sustainable integration. This study provides both theoretical insights and practical guidance for the digital transformation of volunteer services and the modernization of social governance. Read More

Abstract: Universities serve as crucial bases for cultivating professional talents and shoulder the significant mission of fostering qualified builders and reliable successors for the socialist cause. In the process of realizing Chinese modernization, the concept of "curriculum ideology and politics," which has emerged as a new approach to strengthening the educational function of courses, has broken the previous pattern where ideological and political education relied solely on dedicated courses. It addresses the fundamental question of "what kind of people to cultivate and how to cultivate them" in the new era. To advance curriculum ideology and politics, universities should explore its educational value and implications, and focus on three key dimensions—curriculum, teachers, and students—by tapping into ideological and political resources related to course content, teacher knowledge, and student experiences. This can be achieved through three main pathways: integrating teaching and educating under teacher guidance, combining explicit and implicit teaching methods, and establishing collaborative mechanisms. These approaches collectively contribute to exploring practical pathways for realizing the value of curriculum ideology and politics. Read More

Abstract: Common prosperity is the essential requirement of socialism and a characteristic of the Chinese path to modernization. As an important force driving high-quality economic growth, the digital economy is inevitably a crucial support for achieving common prosperity. This study employs bibliometric techniques to explore research hotspots in existing literature, followed by content analysis using structured review to identify research trends and propositions. The analysis reveals that most literature can be summarized as promoting macroeconomic development, enhancing productive capacity, and realizing the sharing of development outcomes. Based on these findings, this paper proposes a path for the digital economy to empower the transformation of the economic base and superstructure to achieve common prosperity. Finally, it combines the issues identified during the research to propose strategies for overcoming these challenges. Read More

Abstract: As China's guarantee industry transitions from rapid expansion to risk exposure, private financing guarantee companies face multiple challenges including business contraction and pressure from banks' “de-guarantee” initiatives. This study examines R Financing Guarantee Company, employing PEST, SWOT, and Porter's Five Forces analyses to evaluate its auto consumer loan business's internal/external environment and competitive landscape. It proposes a business innovation strategy centered on the “lease-to-own” model. The paper systematically outlines innovative measures across six dimensions—product, process, marketing, service, management, and revenue sources—while designing risk control mechanisms for pre-loan, during-loan, and post-loan phases. Research indicates that the “lease-to-own” model effectively enhances customer experience, diversifies revenue streams, and improves risk manageability, offering valuable insights for business transformation among peer guarantee companies. Read More

Abstract: Driven by the dual driving of the "Healthy China 2030" strategy and the booming development of the big health industry, social sports guidance and management majors are the core carriers for the cultivation of national health services talents. In fact, the transformation and upgrading of the practical teaching system has become a key issue in promoting industry-education coordination and talent adaptation. As the core carrier for cultivating such talents, the quality of the practical teaching link directly determines the adaptability of talent training and industrial needs. However, at present, there are problems such as disconnection in goals, outdated content, and shallow school-enterprise cooperation, which is difficult to meet the diversified needs of the big health industry for talents. Based on this, this paper takes school-enterprise cooperation as the core driving force to analyze the main problems facing the construction of the practical teaching system under the school-enterprise cooperation model, and proposes strategies for building social sports training and professional practical teaching systems under the school-enterprise cooperation model, including signing school-enterprise cooperation agreements, establishing a training base, participating in the curriculum design of enterprises, jointly teaching by school-enterprise tutors, and establishing a joint evaluation mechanism of school-enterprise enterprises. It also puts forward the goal of optimizing curriculum construction, a new model of talent training under the practical teaching system under the school-enterprise cooperation model such as school-enterprise cooperation cooperation. It aims to improve the practical ability and professional competitiveness of social and sports students through resource integration and collaborative education between universities and industrial entities, and provide high-quality talents for the big health industry, and at the same time provide theoretical reference … Read More