Does the history of opening ports and trading influence the long-term business credit environment of cities? Evidence from the Yangtze River Delta region of China.

Based on the China City Commercial Credit Environment Index (CEI), a more scientific spatial DID model was used to examine the long-term impact of the opening of ports and trading in the late Qing Dynasty on the urban commercial credit environment, taking cities above the prefecture level in the Yangtze River Delta as a sample. The study confirms that: (1) the opening of ports and commerce in the late Qing Dynasty had a significant contribution to the urban commercial credit environment, which was conducive to the transformation of production methods and interpersonal relationships from traditional to modern, and to the improvement of the urban commercial credit environment. (2) Before the signing of the Treaty of Shimonoseki, the local forces of the late Qing Dynasty were resistant to the economic aggression of the Great Powers, and the positive impact of the opening of ports and trading on the commercial credit environment of port cities was more significant, but the impact was not obvious after the signing of the Treaty of Shimonoseki. (3) From the history of the opening of ports for trade in the late Qing Dynasty, the economic aggression of the Western powers against the non-patronage areas by means of the buying class objectively strengthened the concept of rule of law and credit awareness in the local market and exerted a long-term influence on the commercial credit environment of the cities, but the impact of the opening of ports for trade on the commercial credit environment of the patronage areas was not prominent. (4) Cities located in the sphere of influence of the common law powers had a more pronounced impact on the commercial credit environment as their institutions and concepts were more easily transplanted, while the impact of the opening of ports and trading on the commercial credit environment of cities in the sphere of influence of the civil law powers was not significant. Policy Insights: (1) Enhance the ability to negotiate with foreign countries on economic and trade matters from a level-headed world perspective, and be bold and adept at fighting unreasonable rules, standards and requirements in order to better optimise the business credit environment; (2) Regulate the use of administrative resources and avoid undue administrative intervention, which is an important prerequisite for improving the basic system of the market economy to enhance the business credit environment; (3) Emphasise both connotative development to follow a Chinese style modernisation path, and (3) emphasising selective cooperation to promote outward development, promoting the interaction, convergence and matching of domestic and foreign regulations, and continuously improving the regional commercial credit environment.

Business credit network characteristics and impact on green economy efficiency: Evidence from the Greater Bay Area around Hangzhou Bay of China.

In regions where the development of formal finance is relatively lagging behind, commercial credit has partially replaced the role of formal finance and facilitated the development of the private economy and even the country, thus making commercial credit an important entry point for understanding and promoting sustainable economic development. Taking the Hangzhou Bay Greater Bay Area as a case study, based on the City Business Credit Environment Index (CEI) from 2015 to 2019, we examine the characteristics of business credit networks using social network analysis and discuss the impact of business credit on urban green economy efficiency heterogeneity by drawing on spatial econometrics. The study confirms that the structure of business credit networks in the Hangzhou Bay Greater Bay Area tends to be dense, the network density and number of connections show growth, the spatial network structure is taking shape, and the strength of spatial connections among cities has increased. Hangzhou, Shaoxing, Jiaxing and Shanghai are at the centre of the network and play a radiation-driven role. The business credit network in the Hangzhou Bay Greater Bay Area is characterised by self-stability and has evolved from a multi-centre to a single centre. Business credit is negatively correlated with the efficiency of the green economy in the Hangzhou Bay Area, which is a departure from the Chinese "financial development paradox". In terms of heterogeneity, the relationship remains consistent for port cities and open coastal cities in general, while the effect is less pronounced for cities above sub-provincial level. The study concludes that, with the high-quality economic development of the Hangzhou Bay Greater Bay Area, the Chinese "financial development paradox" does not exist in the region at this stage, which also highlights the need to accelerate the construction of a Chinese-style modernisation theory and practice system.

Driving Factors and Spatiotemporal Characteristics of CO2 Emissions from Marine Fisheries in China: A Commonly Neglected Carbon-Intensive Sector.

The CO2 emissions from marine fisheries have a significant impact on marine ecology, despite generally being overlooked in studies on global climate change. Few studies have estimated the carbon emissions from marine fisheries while taking into account all pertinent sectors. This study evaluated marine fisheries' CO2 emissions based on three sectors: marine fishing, mariculture, and the marine aquatic product processing industry. Kernel density estimation and the spatial Durbin model were used to investigate the spatial and temporal characteristics and the key socioeconomic drivers of the CO2 emissions from marine fisheries in 11 coastal provinces of China from 2005 to 2020. The results are as follows: (1) marine fishing is the sector that produces the most CO2 emissions; trawling operations generate more CO2 than all other modes of operation combined; (2) China's marine fisheries' CO2 emissions show a rising, then declining, trend, with significant differences in coastal provinces; (3) the development of the marine fishery economy and trade have a positive driving effect on CO2 emissions, the expansion of the tertiary industry does not decrease CO2, the technical advancement and income growth of fishermen are negatively related to carbon emissions, and the effect of environmental regulation has failed to pass the significance test; (4) the carbon emissions of marine fisheries have significant spatial spillover effects.

Does the National Credit Demonstration Policy Affect Urban Green Economy Efficiency? Evidence from the Yangtze River Delta Region of China.

A more scientific green economy efficiency indicator is constructed based on OH (2010), and a multiperiod spatial DID model is used to examine the impact of national credit demonstration policies on urban green economy efficiency in a sample of cities above the prefecture level in the Yangtze River Delta. The study confirms the following: (1) The national credit demonstration policy makes a significant contribution to the green economic efficiency of cities, and it is conducive to strengthening awareness of the rule of law in the market to regulate market order. (2) The demand for credit regulation in coastal areas has increased under the new development pattern, and the national credit demonstration policy has effectively enhanced green economy efficiency through institutional supply. (3) Under the national credit demonstration policy, the subprovincial level and above can mobilise more resources for policy refinement and support, reducing transaction costs and improving the efficiency of the green economy. (4) The impact of the national credit demonstration policy on the efficiency of Zhejiang's green economy is more obvious; but, under the overall framework of the Yangtze River Delta, the policy has a more prominent role in promoting green economy efficiency in other provinces. Policy insights are as follows: (1) Different cities have different degrees of impact on the efficiency of the green economy from the national credit demonstration policy, and they should implement differentiated measures based on regional heterogeneity; (2) regulating the use of administrative resources and avoiding undue administrative intervention are important prerequisites for promoting regional integration to enhance the efficiency of the green economy; and (3) strengthening interprovincial credit policy synergies can help to alleviate administrative distortions of policy implementation and enhance the efficiency of the regional green economy.

Provincial Differences and Dynamic Changes in Mariculture Efficiency in China: Based on Super-SBM Model and Global Malmquist Index.

The continued growth in mariculture efficiency in China is vital in ensuring that the country will continue to be the primary source of its own food in the 21st century. A large gap exists between the input and output of mariculture in China's coastal provinces. Hence, methods to improve mariculture efficiency can be developed by analyzing provincial differences and dynamic changes in mariculture efficiency. These methods are important in solving China's food security problems. This study uses the super-slacks-based measure model and global Malmquist index to measure the mariculture efficiency scores and their changes in China's nine coastal provinces from 2004 to 2016. Results suggest that the mariculture efficiencies in Guangxi, Hainan, Fujian, Shandong, and Guangdong are higher than those in Jiangsu, Zhejiang, Liaoning, and Hebei. The mariculture efficiency in China increased by 6.45% from 2004 to 2016, and technological progress was the main driving force for this. The authors combine the results with the mariculture characteristics in each province and present the following findings: (1) mariculture scale affects mariculture efficiency; (2) efficient mariculture relies on a good marine ecosystem; (3) policy adjustments significantly affect the development of mariculture; (4) the key to improving mariculture efficiency is enhancing mariculture technology.

Total-Factor Eco-Efficiency and Its Influencing Factors in the Yangtze River Delta Urban Agglomeration, China.

Urban agglomerations are not only the core areas leading economic growth but also the fronts facing severe resource and environmental challenges. This paper aimed to increase our understanding of urban eco-efficiency and its influencing factors and thus provide the scientific basis for green development. We developed a model that incorporates super-efficiency, slacks-based-measure, and global-frontier technology to calculate the total-factor eco-efficiency (TFEE) and used a spatial panel Tobit model to take into account spatial spillover effects. An empirical study was conducted utilizing a prefecture-level dataset in the Yangtze River Delta Urban Agglomeration (YRDUA) from 2003 to 2016. The main findings reveal that significant spatial differences exist in TFEE in the YRDUA: high-TFEE cities were majorly located in the coastal areas, while low-TFEE cities were mostly situated inland. Overall, TFEE shows a trend of "decline first and then rise with fluctuation"; the disparity between inland and coastal regions has expanded. Further regression analysis suggests that industrial structure, environmental regulation, and innovation were positively related to TFEE, while foreign direct investment was not conducive to the growth in TFEE. The relationship between population intensity and urban eco-efficiency is an inverted U-shaped curve. Finally, several specific policy implications were raised based on the results.

Decomposition Analysis of Factors Affecting Changes in Industrial Wastewater Emission Intensity in China: Based on a SSBM-GMI Approach.

This paper investigated the factors driving the changes in industrial wastewater emission intensity (IWEI) across provinces in China. To do this, we proposed a Super-efficiency Slacks-based Measure-Global Malmquist Index (SSBM-GMI) to decompose the change in IWEI into the effects from efficiency change (ECE), technological change (TCE), capital⁻wastewater substitution (KWE) and labor⁻wastewater substitution (LWE). The method was applied to conduct an empirical study using Chinese provincial data from 2003⁻2015. The main findings include the following: firstly, TCE was the dominant driving force behind the reduction in IWEI with an average annual contribution of -6.4% at the national level, followed by KWE (-5.3%), LWE (-1.8%) and ECE (1.2%). Secondly, significant differences exist in the driving factors behind the reduction in IWEI across regions. The reduction in IWEIs in the Northeast area and the Great Northwest area was mainly driven by productivity growth, while the reduction in IWEIs in the other areas was mainly driven by factor substitution. Thirdly, the shortage of KWE and LWE has impeded IWEI reduction in the Great Northwest area, the Middle Reaches of the Yellow River, the Northeast area and the North area. Finally, some particular policy implications were also recommended for reducing industrial wastewater emission in China.

Water environmental stress, rebound effect, and economic growth of China's textile industry.

The rapid development of China's textile industry (TI) has led to severe water environmental stress. Water environmental stress of China's TI mainly comes from large quantities of discharged wastewater and chemical oxygen demand (COD). The sustainable development of the TI is realized to achieve the decoupling between economic growth and water environmental stress. This study analyzes the decoupling elasticity results from wastewater discharge and COD discharge, respectively. Decoupling results show that TI's wastewater has strong decoupling from economic growth for three years (2002, 2013-2014) while COD has strong decoupling for six years (2002-2003, 2008, 2010, 2013-2014). The paper further calculates the decoupling elasticity results of the TI's three sub-sectors (manufacture of textile sector, manufacture of textile wearing and apparel sector, and manufacture of chemical fibers (MCF) sector), and calculates the factors that affect wastewater discharge. The decrement and rebound effects of wastewater discharge are analyzed based on calculated results. Decomposition results show that the scale factor is the most significant contributor to wastewater discharge, the intensity factor inhibits wastewater discharge, and the effect of the structure factor is not evident. The decrement effect of TI increases yearly, but the rebound effect shows that the absolute amount of wastewater discharge also increases. The rebound effect has declined since 2012. In the three sub-sectors, MCF's decrement effect is the strongest, and its rebound effect is the weakest, which indicate that MCF is the biggest contributor to the discharge reduction of China's TI.