With China’s overall victory in the battle against poverty, consolidation and expansion of poverty alleviation results and preventing a large-scale relapse into poverty have become key problems of the new era. Rural households suffer especially significant poverty vulnerability issues as a result of their sole source of income and weak risk resistance abilities. How digital inclusive finance influences the vulnerability of rural households to poverty and what its mechanisms are need thorough theoretical research and empirical testing. Based on China Household Finance Survey data and Digital Inclusive Finance Index, this study examines the impact effects and mechanisms of digital inclusive finance on the poverty vulnerability of rural households by Probit model. It creates a set of overall indicators for the poverty vulnerability of rural households including financial margins, debt servicing capability, and risk insurance capacity, and divides it into four levels. From the empirical results, it can be seen that digital inclusive finance has played a positive role in poverty reduction risks of rural household, and it shows a strong anti-poverty effect. From the mechanism test results, it can be seen that financial asset diversification is a channel through which digital inclusive finance affects the rural poverty vulnerability, because digital inclusive finance helps the rural households to allocate their financial assets in a more diversified way, thus reducing their poverty vulnerability. The research conclusions can provide significant theoretical foundation and policy reference for consolidating and expanding the results of poverty alleviation, as well as preventing a large-scale return to poverty.

This study examines how platform operators and manufacturers set pricing and channel strategies when offering optional product full coverage replacement services. A game-theoretic model is developed with two consumer groups: those purchasing only the base product and those choosing product–service solutions. The model considers commission rates, product failure risks, and the added utility of replacement services. The results show that when replacement services bring only modest consumer benefits, a unified market-wide pricing equilibrium arises. By contrast, when replacement services strongly enhance consumer value and key thresholds are met, premium pricing strategies within the bundled segment become optimal. This research integrates market segmentation with product full coverage replacement services and sheds light on the links between consumer preferences, commission mechanisms, and product risks.

The wide popularity of electronic payment has driven credit cards to become the core payment tool for daily consumption and commercial transactions. However, the continuous expansion of transaction scale has provided more breeding space for fraud, making credit card fraud detection an important issue in the field of financial security. This paper first conducts data exploration through correlation analysis and violin graph analysis, and then constructs multiple machine learning algorithms for performance comparison experiments. The experimental results show that the proposed Transformer-BiGRU algorithm presents significant advantages in all performance indicators and has the most outstanding comprehensive performance. The accuracy rate, recall rate, precision rate and F1 value of this algorithm all reach 98.6%. It is the only model among all the comparison algorithms that has achieved unification and reached the highest level in these four core indicators, fully demonstrating extremely strong classification consistency and reliability. This research achievement provides an efficient and feasible technical solution for credit card fraud detection, which has significant practical value in enhancing the risk prevention and control capabilities of financial transactions and ensuring transaction security.

Against the backdrop of the in-depth advancement of the "Digital China" strategy and integrated innovation strategy, China Unicom is in urgent need of transforming and upgrading from a "pipe provider" to a "digital service provider". Based on the theoretical framework of resource orchestration, this paper systematically explores the value mining paths of China Unicom in the three stages of data resourceization, assetization, and capitalization. The research shows that relying on 5G, cloud-network integration, and the mixed-ownership reform mechanism, China Unicom has formed large-scale capabilities in data element construction, bundling, and utilization; through intelligent search, elastic deployment and other means to promote data on-balance sheet, the data assets reached 379 million yuan in 2024. Furthermore, China Unicom can activate data capital through securitization, equityization and other means to realize the market-oriented allocation of factors. This paper provides a replicable practical framework for traditional operators' data valorization, and offers policy implications for the government to improve the data element market system and share digital dividends.

China’s STAR Market (Sci-Tech Innovation Board) has innovatively introduced a multi-track listing regime-most notably by allowing loss-making firms to go public-which plays an important role in enabling capital markets to better serve the real economy and to foster innovation-driven development. This study is the first to focus specifically on STAR Market IPO applicants that simultaneously satisfy both the profit criteria and the non-profit criteria, and to examine how their listing-standard choice affects post-IPO innovation capability. Our main findings show that, among firms eligible under both the profit criteria and the non-profit criteria, those that choose to list under the non-profit criteria exhibit stronger post-IPO innovation capability, reflected in higher innovation investment and greater innovation quality. Further analyses suggest that firms listing under the non-profit criteria resemble high-growth reinvestment firms: after going public, they allocate more cash flows to human capital and knowledge capital, rather than distributing earnings through cash dividends. This study not only advances the academic literature on China’s registration-based IPO reform and firms’ IPO behavior, but also provides policy-relevant insights for the Party and the state in fully implementing the registration-based issuance system and in pursuing a distinctive path of financial development with Chinese characteristics.

Based on the resource orchestration theory, this study takes BAIC (Beijing Automotive Group Co., Ltd.) as a case and uses the grounded theory to explore its digital transformation path and its impact on corporate performance. Performance analysis shows that the investment in the initial stage of transformation leads to pressure on short-term profitability, but operational capacity continues to improve; non-financial performance has been significantly enhanced, with R&D investment increasing substantially, multiple national-level intelligent manufacturing certifications obtained, and market position strengthened. Comprehensive results indicate that resource orchestration effectively drives digital transformation, but it is necessary to strengthen industry-university-research cooperation, customer orientation, and resource synergy management to cope with performance fluctuations in the initial stage of transformation and achieve sustainable value creation. This study reveals the dynamic evolution mechanism of the resource orchestration theory in the digital transformation of the automotive industry, providing certain reference value for the digital practice of the manufacturing industry.

In recent years, Chinese cement enterprises have been facing overcapacity. Meanwhile, affected by the epidemic and the slowdown in infrastructure construction, the demand in the cement industry has remained weak with low prices, bringing pressure to the operation of the cement industry. It is difficult for enterprises to achieve development and get out of trouble relying solely on themselves, so continuous mergers and acquisitions (M&A) have become the key to breaking the deadlock. This paper takes Conch Cement as the research object, analyzes the motivations of the enterprise's continuous M&A from 2019 to 2024, conducts financial performance analysis combined with the entropy weight-TOPSIS method, and also analyzes Conch Cement's R&D and innovation capabilities as well as market expansion capabilities, and finally draws conclusions.

Based on the entropy weight method, this study constructs a green innovation performance evaluation system for Chinese chemical enterprises. Taking 164 A-share listed chemical enterprises from 2019 to 2024 as research samples, it evaluates their green innovation performance from four dimensions, namely innovation, economy, society and environment. The results show that social performance has the highest weight, while the economic and innovation dimensions contribute weakly. Accordingly, this study puts forward suggestions such as strengthening industry-university-research cooperation, fostering advantaged industries and promoting balanced regional development, providing references for the green transformation of chemical enterprises.

Blockchain is a distributed registry, which has the following properties: high security, transparency, and immutability. Over the past years, as the model of the enterprise transaction is being digitalized, the traditional auditing has increasingly shown its weaknesses against the more complicated information space. Blockchain auditing appeared and gained great popularization as a field of research. Blockchain auditing possesses numerous fundamental benefits. This technology is based on decentralized data storage and is based on smart contracts, which makes the auditing process semi-automated and automated. The auditing emphasis is no longer in confirming bookkeeping numbers, rather confirming records and the technical systems producing numbers. Through such transformation, auditing quality and efficiency are improved and auditing costs are reduced, however, it leads to certain issues: complexity of blockchain technology, lack of specialized auditors, absence of corresponding standards, and insufficiency of regulation. In this paper, the search methods are based on the use of key words to locate the literature on the topic of blockchain auditing and to perform a systematic analysis and summary. It is intended to uncover the massive development potential and the key issues in this area that are of high importance to improve the market awareness, acceptance, and trust in blockchain auditing, enable auditors to adjust to the technological changes, facilitate developing regulatory policies, and offer a guideline of further research.

As one of the most influential events in the global logistics and supply chain industry, the 20th China (Shenzhen) International Logistics and Supply Chain Expo showcases cutting-edge trends that centrally reflect the core direction of the current industrial development. Combining the key topics of the expo and the latest industrial policies, this paper deeply explores the development paths, major challenges and future evolution trends of China's logistics and supply chain industry in three key aspects: the in-depth integration of digital and intelligent technologies, the practice of green and low-carbon development, and cross-border collaborative innovation. It is intended to provide theoretical references for relevant academic research and industrial practice.