This study utilizes the Generalized Auto-regressive Conditional Heteroskedasticity (GARCH) model to analyze the Shanghai Stock Exchange Composite Index and the Shenzhen Composite Index. It computes the returns and logarithmic returns, fits the GARCH model with a student-t distribution, and calculates the standardized residuals of the stock. Tests for normality and heteroskedasticity of residuals are conducted, follows by the creation of auto-correlation and partial auto-correlation plots to aid in volatility forecasting. The findings indicate that both returns of stock distributions exhibit multiple peaks and significant fluctuations, revealing that there exists pronounced volatility clustering and strong abrupt changes. Historical fluctuations significantly affect current fluctuations, showing a clustering effect. Volatility in returns has been very persistent, reflecting strong speculation and elevated overall risk. Histograms and skewness assessments show a left-skewed distribution for both indices, with a kurtosis greater than three, indicating a "fat-tailed" distribution. The positive mean values imply that China's economy is growing constantly, while the low standard deviation implies the immaturity of China's stock market. These insights highlight the dynamic behaviors and risk profiles in China’s major stock indices, offering a deeper understanding of their speculative nature and economic implications. The Advantages and disadvantages of GARCH models and limitations of a single model are acknowledged in the report.

The live-streaming industry in China has experienced rapid growth, with platforms like Douyin (TikTok) and Kuaishou emerging as dominant players. This paper conducts a comparative analysis of the competitive strategies employed by Douyin and Kuaishou in the live streaming market. Through a review of literature, case studies, and data analysis, the study explores the distinctive approaches of these platforms in content creation, user engagement, e-commerce integration, and technological innovation. Douyin focuses on content innovation and personalised user experiences, leveraging influencers and advanced editing tools, while Kuaishou prioritises authenticity and community building, catering to diverse demographics and promoting local products. The paper also examines emerging trends and strategic adaptations in the live-streaming landscape, highlighting opportunities and challenges for both platforms. Based on the findings, strategic recommendations are proposed to navigate future developments and maintain competitiveness in the dynamic market.

Against the backdrop of actively promoting the rural revitalization strategy and urban-rural integration, Guangdong Province has launched a forward-looking "Internet Plus" rural e-commerce entrepreneurship project, aiming to unleash the tremendous potential of the rural economy and further narrow the urban-rural development gap. This study, based on the theory of space of flows, has conducted a detailed analysis of the implementation strategy of the project and its role in promoting urban-rural integration. Through in-depth analysis, this paper found that the project has effectively broken through geographical restrictions by precisely utilizing internet technologies, greatly promoting information exchange and resource sharing between urban and rural areas. However, the project has also encountered challenges such as inadequate infrastructure, a relatively weak rural entrepreneurial atmosphere, and a lack of entrepreneurial awareness. Therefore, the government should further increase policy support, improve the infrastructure network, and strengthen rural entrepreneurship training to ensure the sustainable and healthy progress of the project, injecting new vitality into urban-rural integration.

The study examines the feasibility of the Transit-Oriented Development (TOD) model in the transportation planning of Nantong City. In the context of the "14th Five Year Plan for the Comprehensive Transportation System Development of Nantong City", it investigates the viability of the TOD mode within Nantong's rail transit system. This article will examine the successful TOD development cases in Shanghai, a first-tier city, and Suzhou, a new-tier city, both located in the Yangtze River Delta region. It will also compare the rail transit systems of Shanghai, Suzhou, and Nantong. Based on the current development status of rail transit in Nantong City, SWOT model is used to position the development of rail transit in Nantong City. hrough this analysis, this paper identified the advantages and disadvantages that Nantong City may face in advancing the TOD mode, as well as the potential opportunities and threats.Measures such as creating TOD channels, formulating ride discounts, expanding regional connectivity, flexible commuting time, and optimizing station facilities are proposed. hese strategies aim to promote the sustainable development of Nantong rail transit system, improve the convenience and efficiency of urban transportation, and then provide strong support for the economic and social development of Nantong city and the improvement of residents' quality of life.

In recent years, the enthusiasm for discussing building smart cities has been boosted greatly worldwide, and the residents of major super cities seem to be eager to understand what a smart city is. Unfortunately, due to the International Business Machines Corporation’s (IBM) recent introduction of the concept of smart cities, many people have misunderstood the concept of smart cities, and even mistakenly classify urban “digitization” as the scope of smart cities. The core element of a smart city is to use various Smart City Facilities (geographic information systems, urban security systems, intelligent traffic control systems, environmental monitoring systems, residents feedback systems) to bring the city onto an intelligent, automated, efficient, and livable road. This article aims to compare two significant Chinese port cities, Shenzhen and Shanghai, in their efforts to establish smart cities. It delves into the challenges they encountered during this process, analyzes the benefits accrued, and offers valuable reminding for cities aspiring to embark on their own smart city journey in the future.

In the context of a globalized economy, the rapid development of cross-border e-commerce offers businesses unprecedented opportunities for market expansion. However, this expansion process requires enterprises to effectively promote their products and services to attract international buyers and build enough trust to ensure the security and reliability of transactions. As one of the world's largest B2B e-commerce platforms, Alibaba has successfully addressed these challenges through its unique business model and strategy, facilitating global trade. Through a case study, this paper examines the implementation details of Alibaba International's innovation and promotion activities, including search engine optimization, customized services, ecosystem building, implementation of a digital showroom, and the safeguards it implemented to build trust between buyers and sellers. It explains how Alibaba has made itself the world's largest B2B cross-border e-commerce platform and contributed to the digital transformation of global trade.

The current new energy vehicle market is in an emerging period. The internal structure and order of the market are in a developmental stage, and there is significant competition within the industry. In the current era where major enterprises are engaged in price wars, it is important to control profits. For policy makers, observing market concentration can better control policy direction and assist enterprise development. This study collected and analyzed data from the top ten companies in the market value of the new energy vehicle industry. Including CR ratio, net profit margin, etc. This article analyzes the correlation between industry profitability and industry profitability from a quantitative perspective through Pearson correlation coefficient analysis. Result is found that there are strong correlation between the two index. The study provides a reference basis for the development of new energy vehicle enterprises and also provides judgment assistance for investors entering the market.

This paper explores the pathways for green transformation and sustainable development in resource-based cities in China, which have historically relied heavily on natural resources for economic growth. With a focus on three Chinese cities - Ordos, Handan, and Hegang - each representing different stages of resource dependency and transformation progress, the study assesses their transition strategies from traditional resource exploitation to a more diversified, green economy. It evaluates the economic, environmental, and social challenges that these cities face in shifting away from resource-intensive industries. The paper also analyzes the impacts of existing policies and offers strategic recommendations to facilitate effective green transitions. By incorporating case studies, the research highlights the unique approaches each city has adopted, including investments in new technologies, shifts in industrial structures, and enhancements in social policies, to achieve sustainable development. The findings emphasize the importance of comprehensive planning, technological innovation, and community engagement in driving the successful transformation of resource-based cities towards eco-friendly and economically diverse futures.

This study critically examines the applicability of the Standard Urban Model (SUM) in the context of Greater Manchester, utilizing empirical data and spatial analysis to explore its operational limitations and potentials. Originally conceptualized by William Alonso, the SUM provides a theoretical framework to understand intra-urban economic dynamics predicated on a monocentric city structure. Through a comprehensive dataset encompassing census demographics, housing prices, and GIS-mapped land-use patterns from 2015, this paper investigates the model’s ability to predict and describe urban land rent gradients and residential distribution relative to the city’s Central Business District (CBD). The findings indicate that while the SUM may provide a generalized view of urban structure, it significantly underestimates the socio-economic diversities, technological advancements, and cultural influences that are inherent in urban development. Particularly, the analysis reveals that rental price declines with distance from the CBD are not as pronounced as predicted by the SUM, with a low coefficient of determination (R²=0.2551). Furthermore, the study highlights how urban development in Manchester deviates from the monocentric model due to historical shifts, regeneration efforts, and the emergence of multi-centric hubs. This research underscores the necessity for adapting urban economic models to reflect the complexities and dynamic nature of modern cities, suggesting a shift towards more nuanced and flexible frameworks that accommodate the multifaceted influences on urban landscapes.

Based on the idea of sustainable development, this paper explores the planning and development of smart cities. Cities face many issues as global urbanization picks up speed, including environmental pollution, resource depletion, traffic congestion, and social inequality. To address these challenges, the notion of sustainable development has become a guiding principle for many city policymakers, aiming to meet contemporary needs while safeguarding future development. Smart cities utilize advanced information and communication technology to enhance urban operational efficiency, improve resource management, and enhance residents' quality of life, thereby providing a more sustainable development model for cities. This paper focuses on the key areas of smart city planning, including energy utilization and environmental protection, smart transportation and urban mobility, smart city planning and land use, social equity, and community engagement. Using Shenzhen as a case study, the practical application of the notion of sustainable development in smart city construction is elucidated, providing valuable insights and practical references for future smart cities.