In recent years, internet finance—powered by mobile payment, big data, and cloud computing—has developed rapidly and reshaped the paradigm of financial intermediation. Grounded in financial intermediation theory, this paper reviews the conceptual connotation and development history, dividing it into four stages: germination, eruption, regulatory rectification, and high-quality development. It then summarizes the main models including third-party payment, P2P lending, crowdfunding, internet insurance, and fund distribution, and analyzes the "catfish effect" exerted on traditional commercial banks through financial disintermediation and interest-rate liberalization, as well as its contribution to financial inclusion. It then dissects credit, liquidity, operational/technical, and systemic risks, traces China's shift from "inclusive and prudent" to "look-through regulation," and draws on international experience from the FSB and BIS to discuss regulatory technology (RegTech). Finally, it looks ahead to emerging trends such as the convergence of artificial intelligence, blockchain, and open banking, and the advancement of the digital RMB.

Show more

The extension of China's new energy vehicles to Europe has gained momentum in recent years; but the tough regulatory environment and the high level of development in the systems of automobile industries in Europe have necessitated the transformation of traditional export patterns. Not much literature has been devoted to examining the necessary strategy adjustments for Chinese new energy vehicles in terms of changes in internationalization modes and competitive dynamics in Europe. This paper is based on theories related to the Eclectic Paradigm of International Production (OLI) and dynamic capabilities, using data from industries, government documents, and case studies at the firm level to investigate the effect of digital transformation on Chinese new energy vehicles' expansion and competitive advantage formation in Europe. The research findings indicate that Chinese new energy vehicles at present depend on battery technology, economies of scale, and their supply chain advantages for expansion in Europe; but traditional export patterns cannot help sustain in the long run. Digital transformation enhances data utilization, software capabilities, and user engagement capabilities, enabling firms to convert manufacturing advantages into digital competitive advantages and to drive their transition from product exports to digital-enabled localized operations. At the same time, European green regulations and data governance requirements further push firms to enhance their digital supply chain management and compliance capabilities

Show more

As a basic consumer food, eggs play an important role in improving the consumption level of residents and maintaining social stability. At the moment, the price of eggs fluctuates greatly. To this end, this paper analyzed the change factors of egg prices by constructing "fundamentals + behavioral economics + financial market" three-dimensional analysis framework. In the end, the noise interference transaction problem and price anchoring effect of egg and egg futures retail investors are widely used, and the influence of the marginal imbalance of the fundamental supply and demand of the fundamental supply and demand is greatly caused, and the industry cycle overmodulation phenomenon is caused. Financial derivatives linkage is a key catalyst for the abnormal fluctuation of the short-term price, the current price of egg futures, the unilateral hype of speculative capital, and the inventory regulation of the selling of the middlemen, and the short-term fluctuation of the current price.

Show more

As the Chinese freshly prepared beverage market expands, university students have become a significant consumer segment of tea beverages and coffee. Their decision is not only affected by taste and price but also brand image, convenience, social value, consumption situation and emotional value. The paper explores why Mixue Bingcheng is more popular with university students than Starbucks. It compares the two brands in product, price, place, promotion, store environment and brand image using questionnaire survey, case analysis, 7Ps framework, SWOT and PEST analysis. The results indicate that popularity of Mixue Bingcheng is not only because of low prices, but also due to its wide range of stores, convenience, easy access to brand positioning and high influence on social media through Snow King IP. Conversely, Starbucks has strengths in terms of quality of products, store experience, and lifestyle positioning, however, it fits better certain occasions like studying, working, and socialising. In general, Mixue Bingcheng meets the daily and high-frequency consumption requirements of university students better, which contributes to higher brand preference and repurchase rates.

Show more