According tothe unified arrangement of Document No.12 of 2018 issued by the Central Committee of Communist Party of China(CPC)and the State Council,the first free trade port(FTP)with Chinese characteristics was to be ...According tothe unified arrangement of Document No.12 of 2018 issued by the Central Committee of Communist Party of China(CPC)and the State Council,the first free trade port(FTP)with Chinese characteristics was to be built in Hainan.Certain difficulties and challenges will inevitably arise during the building of the port,including lack of a unified foreign trade structure,low added value for the tourism industry,low utilization rate of foreign investment,and lack of innovation and openness within the financial industry.However,Hainan also enjoys certain advantages that are conducive to the building of a FTP,such as the existence of its natural outlying islands,a sound ecological environment,experience in reform and innovation of special economic zones,and policy support from the central government,as well as other basic conditions beneficial to the construction of such a port.Hainan must learn from the successful experience of other international FTPs in areas such as trade regulation,business environment,port clearance,financial openness,and fiscal and tax policies.It will be necessary for China to benchmark not only against the highest international standards but also to focus on positioning by differentiated functions,lay a solid foundation for development and transcend policy incentives,make up for financial shortcomings,encourage financial openness and innovation,and carry out differentiated fiscal and tax policies.At the same time,the division of powers and functions between the central and local governments must be properly handled,and an integrated administrative organization that promotes collaboration between the central and local governments mustbeestablished.展开更多
With increasing public environmental awareness,green activities in retail and distribution processes have become crucial tools for retailers to boost demand and enhance competitiveness.This study develops an analytica...With increasing public environmental awareness,green activities in retail and distribution processes have become crucial tools for retailers to boost demand and enhance competitiveness.This study develops an analytical model to study the green investment choices of two differentiated retailers dealing with a common green manufacturer.It also explores the impacts of these investment choices on the manufacturer's operational decisions,channel efficiency,consumer welfare,and the environment.We derive three main results.First,the powerful retailer always favors green investments,whereas the less powerful(inferior)retailer may either prefer or avoid green investments.The fiercer the interretailer competition,the lower the willingness of the inferior retailer to introduce green investments.Second,although all supply chain parties may disagree on their preferences for retailers'green investments,a bilateral green investment(i.e.,both retailers make green investments)can reach an incentive alignment for all firms if the differentiation between retailers is low enough and the competition between them is not substantially fierce.Moreover,a bilateral green investment improves consumer welfare and channel efficiency because of the great demand expansion and double marginalization reduction.Third,the retailers'green investments can motivate the manufacturer to produce greener products,but they do not necessarily benefit the environment.We show that the supply chain's economic sustainability aligns with its environmental sustainability only if the environmental improvement efficiency of green investments is substantially high.We further examine the impact of retailers with differentiated green investment abilities and the manufacturer's green investment efficiency to verify the robustness of the main results.展开更多
基金a phased research result of"Research on the Building Path and Legal Guarantee of FTPs with Chinese Characteristics"(No.:18ZDA156)a program sponsored by the National Social Science Fund+1 种基金"Research on Offshore Financial Innovation System and Supervision Mode of FTPs with Chinese Characteristics,"a program(No.:HNSK(JD)19-18)sponsored by Hainan Research Base for Philosophy and Social Sciences in 2019"lnnovative Supervision and Legal Guarantee of Offshore Finance in Hainan FTp"(No.:hnfx2018a07),a key project of"Hainan under the Rule of Law"of Hainan Law Society in 2018.
文摘According tothe unified arrangement of Document No.12 of 2018 issued by the Central Committee of Communist Party of China(CPC)and the State Council,the first free trade port(FTP)with Chinese characteristics was to be built in Hainan.Certain difficulties and challenges will inevitably arise during the building of the port,including lack of a unified foreign trade structure,low added value for the tourism industry,low utilization rate of foreign investment,and lack of innovation and openness within the financial industry.However,Hainan also enjoys certain advantages that are conducive to the building of a FTP,such as the existence of its natural outlying islands,a sound ecological environment,experience in reform and innovation of special economic zones,and policy support from the central government,as well as other basic conditions beneficial to the construction of such a port.Hainan must learn from the successful experience of other international FTPs in areas such as trade regulation,business environment,port clearance,financial openness,and fiscal and tax policies.It will be necessary for China to benchmark not only against the highest international standards but also to focus on positioning by differentiated functions,lay a solid foundation for development and transcend policy incentives,make up for financial shortcomings,encourage financial openness and innovation,and carry out differentiated fiscal and tax policies.At the same time,the division of powers and functions between the central and local governments must be properly handled,and an integrated administrative organization that promotes collaboration between the central and local governments mustbeestablished.
文摘With increasing public environmental awareness,green activities in retail and distribution processes have become crucial tools for retailers to boost demand and enhance competitiveness.This study develops an analytical model to study the green investment choices of two differentiated retailers dealing with a common green manufacturer.It also explores the impacts of these investment choices on the manufacturer's operational decisions,channel efficiency,consumer welfare,and the environment.We derive three main results.First,the powerful retailer always favors green investments,whereas the less powerful(inferior)retailer may either prefer or avoid green investments.The fiercer the interretailer competition,the lower the willingness of the inferior retailer to introduce green investments.Second,although all supply chain parties may disagree on their preferences for retailers'green investments,a bilateral green investment(i.e.,both retailers make green investments)can reach an incentive alignment for all firms if the differentiation between retailers is low enough and the competition between them is not substantially fierce.Moreover,a bilateral green investment improves consumer welfare and channel efficiency because of the great demand expansion and double marginalization reduction.Third,the retailers'green investments can motivate the manufacturer to produce greener products,but they do not necessarily benefit the environment.We show that the supply chain's economic sustainability aligns with its environmental sustainability only if the environmental improvement efficiency of green investments is substantially high.We further examine the impact of retailers with differentiated green investment abilities and the manufacturer's green investment efficiency to verify the robustness of the main results.
