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    On Green Development of the Agricultural Products E-commerce Logistics Finance
    Xu Honglian, Hu Yu
    Finance & Economics of Xinjiang    2016, 0 (4): 5-15.   DOI: 10.16716/j.cnki.65-1030/f.2016.04.001
    Abstract567)      PDF(pc) (1831KB)(42241)       Save
    Agricultural products e-commerce logistics is the new growth source in the new normal development of rural economy. Based on suchfeatures of agricultural product logistics aslarge volume, many varieties, wide distribution and massive financial needs in China, it is of great necessity to integrate efficiently the trade flow, logistics, capital flow and the information flow of the agricultural products to realizethe mutual benefit and win-win for agricultural products e-commerce industry, logistics industry and finance industry.Based on the research at home and abroad,the paper analyzes the demand, supply and restricting factors, dynamic mechanism of agricultural products e-commerce logistics finance to find out the initiatives to develop agricultural products E-commerce logistics finance.The analysis shows that its development will provide strong financial support for the agricultural products green logistics, therefore, it is of significance to enhance the system and technological innovation to promote the green development, to establish perfect system and mechanism of the agricultural products e-commerce logistics finance, so as to realize the social value, economic value and ecological value of the agricultural products green logistics.
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    Study on the Relationship between Service Quality,Image Perception and Revisit Intention of Tourist Destination—Take Xinjiang Inbound Tourists for Example
    Li Dong, Huang Dan, Dai Chuanxuan
    Finance & Economics of Xinjiang    2021, 0 (6): 46-56.   DOI: 10.16716/j.cnki.65-1030/f.2021.06.005
    Abstract1416)      PDF(pc) (1239KB)(25147)       Save
    The quality of destination service has an important influence on tourists'willingness to return to travel,and it is imperative to improve the quality of destination service. This research would take Xinjiang inbound tourists as the object of investigation,the image of the destination as the intermediary variable, the tourist satisfaction as the adjustment variable in order to empirically examine the influence mechanism of the quality of service and image perception on the tourists'willingness to re-visit. It is found that the dimension of destination service quality has a differentiated effect on destination image and re-travel intention,the destination image has multiple intermediary effects between service quality and re-travel intention,and satisfaction has a significant regulating impact on the influence of emotional image on tourists're-travel intention. It is obvious that the direct influence and transmission mechanism of tourist destination service quality on tourists'willingness to revisit combined with boundary condition may provide decision-making reference for the high-quality development of inbound tourism.
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    A Study of Dilemma of Tax Provision for International Public Goods
    Li Zhen, Wei Zeqing
    Finance & Economics of Xinjiang    2017, 0 (4): 5-10.   DOI: 10.16716/j.cnki.65-1030/f.2017.04.001
    Abstract480)      PDF(pc) (773KB)(19159)       Save
    With the deepening of economic globalization and political multi-polarization, the problems such as economic turmoil, global warming, infectious disease outbreak, illegal trade prevailing and territorial disputes are becoming increasingly fierce and become the focus of the regional and global concern. Therefore, the problem of the provision of international public goods has been widely concerned, and it has become urgent in the world today. On the basis of international public goods provision, the effective and long-term funding is the core to solve the problem. In this one, the international tax as a major source of international public goods provision, which should be analyzed the existing difficulties, put forward the corresponding measures, has important significance for the mitigation of international public goods provision pressure, and improving the global economic, political and social conditions.
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    The "Double-edged Sword" Impact of Digital Transformation on Green Innovation of Manufacturing Enterprises
    JING Li, NING Xiongwei
    Finance & Economics of Xinjiang    2023, 0 (6): 28-39.   DOI: 10.16716/j.cnki.65-1030/f.2023.06.004
    Abstract1807)   HTML15)    PDF(pc) (928KB)(17947)       Save

    Under the constraints of carbon peaking and carbon neutrality goals, the manufacturing industry urgently needs to rely on green innovation to effectively promote the development of green economy. The paper is based on panel data of A-share manufacturing listed companies in China from 2007 to 2020, and empirically analyzes the impact of digital transformation on green innovation in manufacturing enterprises. The research results indicate that, firstly, there is an inverted U-shaped relationship between digital transformation and the level and quality of green innovation in enterprises; Compared to the level of green innovation, achieving optimal quality of green innovation requires higher levels of digital transformation. Secondly, digital transformation can affect the level and quality of green innovation through cost effects, information effects, and resource effects. Thirdly, the inverted U-shaped relationship between digital transformation, green innovation level, and green innovation quality is more significant in state-owned enterprises, non heavily polluting industry enterprises, enterprises in the eastern region, and high marketization level areas. Based on this, in the future, manufacturing enterprises should promote the rational introduction and development of green technology, further stimulate the innovation vitality of non-state-owned enterprises, and drive green innovation through digital transformation.

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    A Study of Impact of Enterprise ESG Performance on Financing Constraints—Based on Signal Asymmetry and Principal-Agent Perspective
    ZHANG Yalian, SU Changping
    Finance & Economics of Xinjiang    2023, 0 (2): 48-57.   DOI: 10.16716/j.cnki.65-1030/f.2023.02.005
    Abstract2717)   HTML44)    PDF(pc) (871KB)(14003)       Save

    Based on the sample of listed companies in Shanghai and Shenzhen A-shares from 2015 to 2020, this paper empirically tests the mitigation effect, mechanism and path of ESG performance on corporate financing constraints. The results show that good corporate ESG performance can help enterprises get out of the financing constraint dilemma, and the effect of corporate ESG performance to alleviate the financing constraint is more obvious in small and medium-sized enterprises. From the perspective of the mechanism of enterprise ESG performance affecting enterprise financing constraints, enterprise ESG performance can not only play a signal effect and help enterprises gain more analysts' attention, but also give full play to the governance effect of enterprise ESG performance and effectively alleviate the agency conflict of enterprises. From the perspective of the impact path of corporate ESG performance to alleviate corporate financing constraints, corporate ESG performance can help enterprises obtain lower cost debt financing and equity financing. This study has implications for promoting enterprises' ESG information disclosure and improving the efficiency of resource allocation.

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    A Study of the Path of Digital Economy Promoting the Digital Transformation of Xinjiang's Foreign Trade
    DUAN Xiufang, ZHOU Dufeng
    Finance & Economics of Xinjiang    2023, 0 (3): 69-80.   DOI: 10.16716/j.cnki.65-1030/f.2023.03.007
    Abstract1045)   HTML10)    PDF(pc) (821KB)(11523)       Save

    Since the report of the 19th National Congress of the Communist Party of China proposed the construction of a digital China, China's digital economy has developed rapidly and gradually become an important support for achieving the digital development of China's foreign trade. The report of the 20th National Congress of the Communist Party of China further proposes to "accelerate the development of the digital economy" and "promote digital trade to accelerate China's transformation into a trader of quality". In this context, it is of great practical significance to study how the digital economy supports the digital transformation of Xinjiang's foreign trade. From the perspective of mechanism, the digital economy promotes the digital development of Xinjiang's foreign trade through three aspects: promoting digital industrialization and industrial digitization, bringing digital elements for improving quality and efficiency, and improving the innovation ability of enterprises. At present, Xinjiang's digital trade service platform has been initially established, and the digital transformation of foreign trade has a preliminary industrial foundation. However, restricted by such factors as small scale of digital economy, low proportion of digital economy, low integration of digital industry and traditional industry, insufficient use of digital elements, and insufficient digital technology innovation capability, Xinjiang's foreign trade digital transformation is faced with such problems as low driving force of digital economy. Therefore, this paper proposes paths such as improving digital infrastructure, cultivating and guiding digital industries, improving the level of industry digitization, building a digital factor market, enhancing digital innovation capabilities and talent cultivation, and effectively promoting the digital development of Xinjiang's foreign trade.

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    The Mechanism and Empirical Test of Digital Inclusive Finance Promoting Green Total Factor Productivity
    LIU Rongzeng, LI Zien, HE Chun
    Finance & Economics of Xinjiang    2023, 0 (1): 5-16.   DOI: 10.16716/j.cnki.65-1030/f.2023.01.001
    Abstract1106)   HTML565)    PDF(pc) (1587KB)(11271)       Save

    With the promotion of digital China construction, digital inclusive finance plays an important role in implementing the new development concept and promoting the improvement of green total factor productivity. This paper uses the economic and social data of 30 provinces, municipalities and autonomous regions in China from 2011 to 2020 to study the impact of digital inclusive finance on green total factor productivity using fixed effect model and intermediary effect model. The results show that digital inclusive finance effectively promotes the promotion of green total factor productivity, and this promotion is more obvious in the eastern and western regions. Digital inclusive finance has significant intermediary effect in promoting green total factor productivity, that is, digital inclusive finance improves green total factor productivity through three channels: technological progress, industrial structure upgrading, and technological progress-industrial structure upgrading. In this regard, we should promote the development of digital inclusive finance by improving the regional basic hardware equipment and popularizing the concept of digital inclusive finance, and training professional financial talents, so as to improve total factor productivity.

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    On Impact of Geopolitical Risk in Countries along the"Belt and Road" on the Survival Duration of China's Export Relationships
    Zhang Jianwu, Li Nan, Liu Hongduo
    Finance & Economics of Xinjiang    2020, 0 (5): 56-69.   DOI: 10.16716/j.cnki.65-1030/f.2020.05.006
    Abstract867)      PDF(pc) (2308KB)(11156)       Save
    This paper employs the text-based GPR index to reveal the characteristics of geopolitical risks in representative countries along the "Belt and Road", and then uses the survival analysis method to analyze the survival duration of export relationships between China and representative countries over the period of 1996-2018. Based on the above analysis, we empirically test the impact of geopolitical risk on the survival duration of China's export relationships. The geopolitical risk of the "Belt and Road" is relatively high, and higher than the global level in the majority years of the sample period; The duration of export relationships between China and representative countries are relatively short, and their mean and median are less than half of the sample period. Besides, the survival probability of China's export relationships with countries along the "Belt and Road" is relatively low at the early stage, and exhibits significant negative time dependence and threshold characteristics; Geopolitical risks significantly reduced the survival duration of China's export relationships. Based on the above results, this paper argues that, the risk prevention and control mechanism should be strengthened, and the geopolitical risk in the B&R should be resolved through diversified and multi-faceted governance, and thus promote the sustained and healthy development of China's export relationships.
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    The Spillover of Carbon Trading Market, Energy Market and Low Carbon Stock Market—An Empirical Study Based on the Joint Spillover Index Model
    GONG Zhenting, CHEN Yanbei
    Finance & Economics of Xinjiang    2023, 0 (5): 16-28.   DOI: 10.16716/j.cnki.65-1030/f.2023.05.002
    Abstract757)   HTML26)    PDF(pc) (3543KB)(10284)       Save

    With the gradual acceleration of the construction of a unified carbon trading market across China, scientifically measuring the risk spillover effects between different markets is particularly important for effectively responding to complex and ever-changing market conditions. The paper uses a joint spillover index model to empirically find that there is a risk spillover effect between the carbon trading market, energy market, and low-carbon stock market, and the directional spillover effect and net spillover effect between different markets have obvious time-varying characteristics. Compared with China, the EU carbon trading market has a stronger ability to resist risks. In this regard, a risk warning mechanism should be established between the carbon trading market, energy market, and low-carbon stock market, and the policy system construction of China’s carbon trading market and the information disclosure mechanism of relevant financial institutions should be improved to effectively prevent cross market financial risks.

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    The Influence of Internet Use on Household Financial Investment and Its Mechanism — Evidence from CFPS2018
    Zhang Yongqi, Shan Depeng
    Finance & Economics of Xinjiang    2021, 0 (4): 5-15.   DOI: 10.16716/j.cnki.65-1030/f.2021.04.001
    Abstract804)      PDF(pc) (827KB)(9878)       Save
    Financial market participation is the core issue in the field of household finance. Based on CFPS2018 data, this paper empirically studies the impact of Internet use on household financial market participation. The study finds that the use of Internet channels can not only significantly improve the participation probability and investment scale of the financial market, but also have a significant positive impact on the allocation rate of household financial assets. After the instrumental variable method was used to alleviate endogenicity problems and the birobust IPWRA model and PSM model with corrected sample self-selection bias were used for robustness tests, the core research conclusions remained significant. The heterogeneity study found that the positive influence was more obvious in the farmers in the regions with high income, low housing price and developed e-commerce. The analysis of function channels shows that the use of the Internet can indirectly drive the financial investment of households by increasing factor input, broadening information channels, expanding social groups and enhancing social trust. It is of great practical significance for accelerating the digital rural strategy to further explore the role of Internet use in promoting the financial investment of rural households.
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    On Mechanism of National Audit Promoting High-Quality Economic Development —An Empirical Analysis Based on Provincial Panel Data in China
    Zheng Shiqiao, Xu Lingling
    Finance & Economics of Xinjiang    2020, 0 (1): 39-52.   DOI: 10.16716/j.cnki.65-1030/f.2020.01.004
    Abstract692)      PDF(pc) (1147KB)(9474)       Save
    Promoting high-quality economic development is not only an inevitable requirement for maintaining sustained and healthy economic development,but also an inevitable requirement for adapting to changes of major social contradictions in China and building a well-off society,a socialist modern country in an all-round way.The paper constructs a theoretical framework of how national audit promotes high-quality economic development and builds an economic growth quality index system.Using principal component analysis to measure the economic growth quality of provinces in China from 2012 to 2016,the paper tests based on provincial panel data.The results show that the national audit does improve the quality of economic growth by the synergistic effect among the revealing function,punitive function and recommendation function.Therefore,the auditing agency should,on the basis of comprehensively revealing the problems,handle the punishment,put forward reasonable recommendations and urge the recommendations to be adopted,so as to promote high-quality economic development.
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    An Exploration on the Optimization Path of Budget Performance Management in the New Era —Qualitative Comparative Analysis Based on Fuzzy Sets
    JIA Yanan, ZHANG Wenbo
    Finance & Economics of Xinjiang    2022, 0 (5): 38-46.   DOI: 10.16716/j.cnki.65-1030/f.2022.05.006
    Abstract756)   HTML42)    PDF(pc) (864KB)(9293)       Save

    Budget performance management is a performance management based on budget, which is an important part of government performance management. Taking 31 provincial local governments in China in 2018 as research cases, this paper uses the fuzzy set qualitative comparative analysis (fs/QCA) method to analyze the relevant indicators that affect the reform of budget performance management, and reveals how different factors combine to influence the reform of local government budget performance management. The research finds that economic development, fiscal decentralization, fiscal transparency and organizational redundancy are the main factors affecting the reform of local government budget performance management. Effective promotion of budget performance management requires multiple factors to work together. In the future, local governments should be more active in developing the economy externally and attracting talent inflows. They should further improve financial transparency, eliminate organizational redundancy and reduce administrative costs internally, so as to effectively promote budget performance management.

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    Can Green Credit Promote the Green Transformation and Upgrading of Industrial Structure?—An Analysis Based on Provincial Panel Data in China
    SONG Qinghua, TAN Xiaoman
    Finance & Economics of Xinjiang    2023, 0 (3): 29-35.   DOI: 10.16716/j.cnki.65-1030/f.2023.03.003
    Abstract689)   HTML360)    PDF(pc) (848KB)(8382)       Save

    At present, the scale of green credit ranks first in the world. Green credit is an important green financial product, which can affect the green transformation and upgrading of industrial structure through technological progress mechanism and squeezing out effect mechanism. Based on the regression analysis of the provincial panel data from 2011 to 2020 using the fixed effect model, it is found that green credit has a significant positive promoting effect on the green transformation and upgrading of China's industrial structure at the national level. From the perspective of different regions, the impact of green credit on the green transformation and upgrading of industrial structure in China's four major regions shows obvious regional heterogeneity. In the future, differentiated green credit policies, innovative green credit products, and incentive and constraint mechanisms of green credit should be implemented, so as to further promote the green transformation and upgrading of our industrial structure.

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    Coordinated Development of Border Land Ports and Cities Economy in China—An Empirical Study Taking Xinjiang as an Example
    XIAO Chunmei, JIN Lin
    Finance & Economics of Xinjiang    2023, 0 (2): 26-38.   DOI: 10.16716/j.cnki.65-1030/f.2023.02.003
    Abstract766)   HTML689)    PDF(pc) (2171KB)(7069)       Save

    Border ports and port cities, as important engines and growth poles for the economic and social development of border areas, promote and develop together. Improving the system of border towns and supporting the construction of border ports is of great significance for promoting the revitalization and prosperity of the border, stabilizing and consolidating the border, and deepening the implementation of regional coordinated development strategies. After measuring the coordinated development level of China's border land ports and cities economy, the paper found that since 2017, with the support of the border opening policies, ports have been more active in development than cities, and the port-city relationship has shown a port driven pattern; In 2020, affected by the COVID-19, port trade were blocked, and the port-city relationship became city driven pattern. Taking Xinjiang as an example, using the coupling coordination degree model to measure the coordinated development level of Xinjiang's border ports and cities economy from 2011 to 2020, the paper found that although the coupling coordination level of Xinjiang's border ports and cities economy has significantly improved, it is still in an imbalanced stage. In order to accelerate the coordinated development of border ports and cities economy, it is of great necessity of strengthening the construction of infrastructure and port open platform, promoting the transformation and upgrading of foreign trade, strengthening talent training and talent introduction, and optimizing the business environment.

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    Impact of Narrative Innovation Information Disclosure on Enterprise Innovation—Moderating Effects Based on Analyst Tracking
    ZHOU Ming, XU Yan, XU Guoqing
    Finance & Economics of Xinjiang    2022, 0 (3): 58-69.   DOI: 10.16716/j.cnki.65-1030/f.2022.03.006
    Abstract659)   HTML4)    PDF(pc) (1193KB)(6672)       Save

    Based on the sample of Chinese A-share listed companies from 2007 to 2019, this paper uses fixed effects model and systematic GMM model to conduct empirical tests to explore the impact of descriptive innovation information disclosure on enterprise innovation level. The results show that descriptive innovation information disclosure has an "inverted U-shaped" influence on innovation effect. Further analysis shows that the "inverted U-shaped" impact of descriptive innovation information disclosure on firm innovation exists significantly in non-state-owned enterprises. Analyst tracking plays a positive moderating effect on the relationship between descriptive innovation information disclosure and firm innovation. In the future, it is of great necessity to further improve information disclosure system to protect core information, introduce innovative policies and provide multi-channel financing as well.

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    Manager Ability and Corporate Performance:Based on Enterprise Life Cycle
    Yao Xi,Yang Chao,Yao Mengge
    Finance & Economics of Xinjiang    2020, 0 (6): 35-47.   DOI: 10.16716/j.cnki.65-1030/f.2020.06.004
    Abstract579)      PDF(pc) (1033KB)(6669)       Save
    This paper takes all mainland China non-financial A-share listed companies from 2010 to 2017 as samples to study the relationship between manager ability and corporate performance.The study found that the manager ability is significantly positively correlated with market performance and financial performance of the company in general. Different stages of enterprise life cycle have a significant impact on the relationship between managers ability and corporate performance, that is, compared with the growth period, the maturity period and the decline period weaken the positive promotion effect of manager ability on corporate performance. When the ownership concentration of a company is high and government intervention is low, the positive promotion effect of manager ability on corporate performance is strong, namely, the performance of manager ability is subject to the level of internal and external governance of the company.
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    An Analysis of Trade Structure and Trade Competitiveness of Agricultural Products in Sino-Central Asian Countries
    Yang Lihua, Gong Enmin
    Finance & Economics of Xinjiang    2019, 0 (6): 60-69.   DOI: 10.16716/j.cnki.65-1030/f.2019.06.006
    Abstract728)      PDF(pc) (1279KB)(6480)       Save
    Under the background of continuous trade friction between China and the United States, the pattern of China's agr-products foreign trade will face great changes and reshaping, and consequently it is inevitable to develop a new alternative market for agricultural trade. Central Asia area not only borders with China, but also is pioneered by Belt and Road Initiative and has a special strategic position. With the continuous expansion of agricultural trade scale between China and the five Central Asian countries, the trade structure has also undergone significant changes. According to the HS code of UN COMTRADE of United Nations, this paper discussed the agricultural trade structural evolution of Sino-Central Asia in term of three dimensions: export structure, import structure and country structure. Moreover,we measured the competitiveness of agricultural products in 27 subdivision industries by using TC index, and expounds the evolution of their competitiveness. Accordingly this paper put forward some countermeasures and suggestions for optimizing the trade structure and improving the competitiveness of subdivision industries.
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    Bay Area Economy: A Literature Review
    Zhao Zuoquan
    Finance & Economics of Xinjiang    2021, 0 (3): 5-16.   DOI: 10.16716/j.cnki.65-1030/f.2021.03.001
    Abstract963)      PDF(pc) (876KB)(6455)       Save
    This paper aims to sort out the status quo of bay area economics at home and abroad, review its history in China, and focus on the basic characteristics, coordinated development and trans-regional governance of the world-class bay areas, the economic status of the world's three major bay areas, the bay area of China, as well as comparison of bay areas at home and abroad. The results show that the economic development trend and comparison of bay areas at home and abroad are the directions that have attracted the attentions of academic circles. In addition, the quantitative study turns more popular and will be an important direction of the future studies in the field.
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    Measurement of Added Value of Sino-US Manufacturing Trade and Analysis of Its Influencing Factors—Based on the Perspective of Global Value Chain
    Cheng Yunjie, Luo Qian
    Finance & Economics of Xinjiang    2021, 0 (5): 71-80.   DOI: 10.16716/j.cnki.65-1030/f.2021.05.007
    Abstract687)      PDF(pc) (1275KB)(6384)       Save
    Based on the pattern of international division of labor in global value chain, this paper measures and analyzes the total value of Sino-US manufacturing and the actual trade gains of manufacturing sub-sectors by using KWW. The research shows that, compared with traditional trade statistics methods, China's actual trade gains in Sino-US manufacturing trade under trade added value are more than 20% lower than those in the United States. Measurement of added value of manufacturing industry by factor intensity: the United States is at the high end of the value chain of knowledge-based manufacturing, with more trade profits; China's labor-intensive manufacturing industry is gradually rising from the low end of the global value chain; China's capital-intensive manufacturing industry is at the low end of the value chain. From the perspective of added value, the trade balance between China and the United States is mainly caused by the trade balance between knowledge-based manufacturing industries. Through the empirical analysis of the influencing factors of China's overall and sub industry export domestic added value of U.S. manufacturing industry, it is concluded that the influence coefficient of industrial upstream on added value is negative, and comparative advantage, economies of scale and technological innovation have a positive impact on manufacturing added value. Therefore, China should speed up talent training, strengthen technological innovation, build a global value chain of China's manufacturing industry, and accelerate manufacturing trade cooperation with countries along "the belt and road", so as to promote the development of China's manufacturing industry.
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    The Theoretical Logic and Practical Path of Financial Technology Promoting High Quality Economic Development
    LEI Hanyun, LI Qi, Yusufu·Abulaiti
    Finance & Economics of Xinjiang    2023, 0 (4): 37-47.   DOI: 10.16716/j.cnki.65-1030/f.2023.04.004
    Abstract587)   HTML5)    PDF(pc) (2390KB)(6073)       Save

    This paper theoretically analyzes the mechanism of financial technology on high-quality economic development, and uses the panel data of 30 provinces from 2011 to 2020 for empirical testing. It is found that financial technology has a significant positive role in promoting high-quality economic development, and there are obvious regional differences, which are only significant in the eastern region. Further research finds that financial supervision and financial literacy can strengthen the role of financial technology in promoting high-quality economic development. Hereto the paper puts forward countermeasures and suggestions for the path selection of financial technology to promote the high-quality development of China's economy from the perspective of internal and external environment.

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