This paper takes the resettlement work of urban redevelopment and renewal projects such as urban villages as an opportunity to explore the trial implementation of a housing voucher system. Against the backdrop of urban village redevelopment, this paper first analyzes the current situation of urban village redevelopment in Beijing, focusing primarily on the shortcomings of the existing resettlement policies. Next, it examines how housing voucher rules affect the real estate market in representative cities, highlighting the pros and cons of the current system. The system's application in Beijing, taking into consideration the city's particular characteristics, is discussed, along with policy recommendations. This study improves mega-city housing voucher research and gives a novel urban village rehabilitation and relocation perspective. Beijing can use the research to improve urban village rehabilitation, relocation, residential property destocking, and mega-city concerns.

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This study adopts a research design of applying the two-way fixed effects.model in the market to examine whether ESG dimensions have a different influence on the costs of corporate financing and the mechanism by which the policy is transmitted using non-financial A-share listed companies between 2015 and 2024 as a research sample. It empirically studies the cross-effect of the ESG environmental (E), governance (G) and social (S) variables on the corporate financing costs, alongside the environmental policy, monetary policy and regulatory policy. The findings show that the three ESG dimensions have a substantial negative impact on the financing cost with the strongest effect found in governance. The cross-effect analysis shows that a tight environmental policy increases the influence of the environmental dimension on the costs reduction, accommodative monetary policy increases the positive effect of the governance dimension, and the intensive regulatory influence increases the worth of the social dimension. The three hypotheses are all proven. The results inform the heterogeneous policy channels, on which the ESG can have impact in reducing financing costs and gives firms information to design differentiated ESG strategies.

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Based on Bourdieu's 'capital-field-habitus’ theoretical framework, this paper conducts a secondary analysis of three empirical studies in the Chinese educational context to illustrate how family cultural capital influences students' academic performance through academic habitus. The results show that there is a stable positive relationship between family cultural capital and academic performance, which is not mainly achieved in a direct way, but through the formation of habitus habits that are consistent with the school assessment rules, which are further manifested in sustained learning behaviours, and finally transformed into academic strengths. In the test score-centred Chinese educational environment, learning habits play a key mediating role in the transformation of cultural capital into academic performance, and the differences in the intensity of the role in different studies are related to differences in educational stages and research designs, and reflect the process by which the educational evaluation mechanism and the structure of learning practices jointly influence the path of capital transformation.

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The objective of this study is to examine the predictive relationship between the China stock market and the bond market. With the worsening economic environment entering 2024-2025, the stock-bond linkage mechanism has played an increasingly important role in financial forecasts. But through the current forecasts, it has been noticed that the forecasts often ignore the systematic connection of market information between the markets. The construction of the model was focused on a VAR model with the return of the stock market as an exogenous variable, which was contrasted with the traditional ARIMA model, and the nature of the connection between the two markets was evaluated through Granger causality test, variance decompositions, and impulse responses. The outcome of the test showed the superiority of the VAR model in terms of the key predictive accuracy of the forecast, especially regarding the declining trend of the bond market yields. Overall, the findings suggest that the stock market exhibits significant leading and explanatory power over the bond market, indicating that integrating cross-market information can enhance forecasting accuracy and provide more effective quantitative support for asset allocation and risk early warning by leveraging leading indicators from the stock market.

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