Research on the Influence of Digital Renminbi on Consumption Promotion | Chapter 31 | Theoretical Key Issues and Practical Development Trends of China’s Digital Economy

This paper uses empirical analysis to study the impact of digital yuan on consumption promotion in China from 2019 to 2023. Based on the data, this paper establishes an empirical model to analyze the impact of the implementation of digital RMB on China's economy and consumption. In addition, this paper also explores how the digital RMB can better fit into the social economic market and practical supervision in today's economic environment. The results show that the trial implementation of digital RMB has a significant positive impact on China's consumption and economic development, that is, under appropriate policies and supervision, the implementation of digital RMB project is beneficial to economic development and consumption promotion. This conclusion shows that the development and implementation of the digital RMB project in China is effective, and the actual demonstration of its internal economic principles and effects is quite discussible.

 

Author (s) Details

 

Wenbo Lyu
Saxo Fintech Business School, University of Sanya, Sanya, 572000, China.

 

Daliang Gao
Saxo Fintech Business School, University of Sanya, Sanya, 572000, China.

 

Guagnhua Chen
Saxo Fintech Business School, University of Sanya, Sanya, 572000, China.

 

Please see the book here:- https://doi.org/10.9734/bpi/mono/978-93-48388-89-6/CH31

Bridging the Gap: E-commerce and the Rise of Rural Economies in Free Trade Zones | Chapter 28 | Theoretical Key Issues and Practical Development Trends of China’s Digital Economy

The integration of the digital economy and rural development is pivotal for the comprehensive advancement of the economy. This study examines the impact of the digital economy on rural revitalization within the context of Hainan's Free Trade Port, as outlined on July 1, 2021. Utilizing panel data analysis from all 16 Hainan districts, two hypotheses were proposed: the proliferation of the internet accelerates the digital economy and fosters rural rejuvenation, and enhanced talent quality elevates rural GDP. Empirical evidence supports these hypotheses, highlighting the digital economy's role in rural revitalization. Theoretical and practical implications suggest leveraging digital platforms to enhance agricultural marketing and advocating for e-commerce literacy programs to empower rural communities. The study concludes that strategic investments in digital infrastructure and talent development are essential for sustainable rural development, offering valuable insights for policymakers aiming to bridge the urban-rural divide in the digital era.

 

Author (s) Details

 

Wenbo Lyu
Saxo Fintech Business School, University of Sanya, Sanya, 572000, China.

 

Zhiyao Cao
Saxo Fintech Business School, University of Sanya, Sanya, 572000, China.

 

Minqi Zheng
Saxo Fintech Business School, University of Sanya, Sanya, 572000, China

 

Jie Zhang
Saxo Fintech Business School, University of Sanya, Sanya, 572000, China.

 

Jinsun Feng
Saxo Fintech Business School, University of Sanya, Sanya, 572000, China.

 

Please see the book here:- https://doi.org/10.9734/bpi/mono/978-93-48388-89-6/CH28

Digital Economy Enables Free Trade Port Rural Revitalization | Chapter 27 | Theoretical Key Issues and Practical Development Trends of China’s Digital Economy

This article selects 351 data from six cities in Hainan Province, including Haikou, Sanya, Wanning, Lingshui Li Autonomous County, and Wenchang from 2010 to 2022, as well as eight townships including Hedong District, Hexi District, Haitangwan Town, Tiandu Town, Fenghuang Town, Tianya Town, Yacheng Town, and Yucai Town. The corresponding digital finance and digital transformation data are matched, and a multiple linear regression analysis model is constructed, analysing the impact of the digital economy on the development of the rural economy in free trade ports [5].

According to data research, the development of the digital economy has a significant positive impact on the growth of the rural economy in the free trade port. Among them, digital infrastructure construction such as medical digitization, digital technology applications such as internet celebrities, e-commerce economy, and digital talent cultivation are key driving factors [2]. In addition, the digital economy has had a positive impact on the rural revitalization of the free trade port by promoting industrial structure upgrading, improving labor productivity, and improving the ecological environment.

Secondly, this article empirically verifies the impact of the e-commerce economy on the rural revitalization of free trade ports. At the same time, this article also found that the impact of the digital economy on the rural revitalization of free trade ports has certain regional differences, that is, in areas with higher levels of digital economy development, its promotion effect on rural revitalization is more obvious. Finally, this article proposes policy recommendations to fully leverage the role of the digital economy in the rural revitalization of the free trade port.

 

Author (s) Details

 

Wenbo Lyu
Saxo Fintech Business School, University of Sanya, Sanya, 572000, China.

 

Aopeng Li
Saxo Fintech Business School, University of Sanya, Sanya, 572000, China.3

 

Please see the book here:- https://doi.org/10.9734/bpi/mono/978-93-48388-89-6/CH27

Effect of Digital Economy on Rural Revitalization of Hainan Free Trade Port | Chapter 26 | Theoretical Key Issues and Practical Development Trends of China’s Digital Economy

This study comprehensively explores the impact of the digital economy on rural revitalization in Hainan Free Trade Port. It aims to analyze the current state of digital economy development and its contributions to economic growth, employment opportunities, and improvement of social services in Hainan's rural areas. Economic data, digital development indicators, and rural revitalization-related data were collected, and statistical analysis methods were employed to evaluate the effects. The results underscore the significant role of the digital economy in promoting rural revitalization in Hainan, highlighting the potential for agricultural modernization, financial service improvement, talent training, income growth, and governance efficiency.

 

Author (s) Details

 

Wenbo Lyu
Saxo Fintech Business School, University of Sanya, Sanya, 572000, China.

 

Hao Su
Saxo Fintech Business School, University of Sanya, Sanya, 572000, China.

 

Please see the book here:- https://doi.org/10.9734/bpi/mono/978-93-48388-89-6/CH26

Digital Economy Empowers the Rural Revitalization of Hainan Free Trade Port - Take the Agricultural Development of Hainan Province as an Example | Chapter 25 | Theoretical Key Issues and Practical Development Trends of China’s Digital Economy

As agricultural development enters modernization, it has developed a high degree of innovation dependence on the digital economy model. The digital economy has the advantages of fast channels, extremely fast sales, convenient transportation, and efficient inventory, which has enabled agricultural output and demand to reach a new high level of balance. Taking the agricultural development in Hainan Province as an example, this paper empirically studies the enabling mechanism and effect of the digital economy model on the agricultural economy.

 

Author (s) Details

Xuehai Lyu
Shexian Shangpianliang Village Brigade, Handan, 056400, China.

 

Wenbo Lyu
Saxo Fintech Business School, University of Sanya, Sanya, 572000, China.

 

Please see the book here:- https://doi.org/10.9734/bpi/mono/978-93-48388-89-6/CH25

Econometric Study: Impact of Digital Economy and Financial Inclusive Policy on China's Rural Revitalization | Chapter 22 | Theoretical Key Issues and Practical Development Trends of China’s Digital Economy

With the increasingly mature development of internet big data and cloud computing, digital inclusive finance—an emerging form of inclusive finance closely related to these technologies—plays a crucial role in promoting rural development. Through the clever use of network technology, including computer "information processing", "data communication", "big data analytics" and "cloud computing" and other cutting-edge technologies, digital inclusive finance not only realizes the extensive sharing of information but also significantly reduces financing costs and difficulty. This innovative model effectively expands the coverage of financial services and makes full use of the advantages of digital finance, such as sharing, security, low cost and low entry threshold. By integrating cutting-edge technologies such as big data, cloud computing and artificial intelligence, a financial management system was built based on big data, so as to comprehensively improve the level of financial management. These measures have injected new vitality into rural development and provided more convenient and efficient financial services for farmers.

Focusing on the two core issues of digital inclusive finance and rural revitalization, this paper puts forward a series of specific strategies in view of the four challenges of the digital divide, weak development foundation, imperfect credit system and lack of digital financial literacy. At the micro level, the study will promote enterprise research and innovation, encourage residents to start businesses and find jobs, and increase residents' disposable income, so as to consolidate the economic foundation of rural revitalization. At the macro level, the study will promote regional financial development, eliminates the income gap between urban and rural areas, alleviate the income gap between regions, and provide strong financial support for rural revitalization. In order to achieve the strategic goal of rural revitalization, it is necessary to comprehensively promote the in-depth development of digital inclusive finance, provide all-round support for rural revitalization, and actively explore a new path supported by inclusive finance. The research results of this project will provide solid theoretical support and practical guidance for the solution of major problems such as the implementation of a rural revitalization strategy and accelerating the construction of new countryside.

 

Author (s) Details

 

Jiacheng Lyu
Shexian No. 1 Middle School, Handan, 056400, China.

 

Yingbo Lyu
Shexian Communist Party School, Handan, 056400, China.

 

Wenbo Lyu
Saxo Fintech Business School, University of Sanya, Sanya, 572000, China.

 

Please see the book here:- https://doi.org/10.9734/bpi/mono/978-93-48388-89-6/CH22

Hainan Free Trade Port Leverages Digital Economy for Rural Revitalization | Chapter 21 | Theoretical Key Issues and Practical Development Trends of China’s Digital Economy

Background: Established in 2018, Hainan Free Trade Port has capitalized on its advantageous geographic position and abundant natural resources to push forward trade liberalization and facilitation, capturing global attention. Concurrently, the digital age has ushered in transformative changes across the global economy, positioning the digital economy as a pivotal force in this evolution.

Methods: The Free Trade Port aligns with a national strategy aimed at enhancing globalization efforts, which includes attracting more domestic and foreign investments and superior resource influxes. In parallel, the application of technologies such as big data, cloud computing, and artificial intelligence within the digital economy is revolutionizing traditional industries by increasing productivity and improving product quality.

Results: The integration of advanced digital technologies has notably improved agricultural modernization, rural governance, and income growth for farmers, underscoring the digital economy’s unique benefits in the context of rural revitalization.

Conclusion: As the Hainan Free Trade Port continues to develop, it is positioned to become a frontrunner in the globalized economic landscape, bolstered by both its strategic initiatives and the burgeoning digital economy. These efforts collectively contribute to a robust platform for sustained economic growth and development.

 

Author (s) Details

Wenbo Lyu
Saxo Fintech Business School, University of Sanya, Sanya, 572000, China.

 

Yuxin Wang
Saxo Fintech Business School, University of Sanya, Sanya, 572000, China.

 

Please see the book here:- https://doi.org/10.9734/bpi/mono/978-93-48388-89-6/CH21

Digital Economy, Digital Currency and Leverage Effect in the Post-epidemic Era | Chapter 1 | Theoretical Key Issues and Practical Development Trends of China’s Digital Economy

 This paper highlights the inescapable trend of digital currency growth by examining past currency patterns and explores the ties between digital currency and the digital economy. This report predicts the future improvement trend of digital money using China as a case study. China created the digital currency in the middle of the rapid expansion of private cryptocurrencies with the intention of supporting the digital economy and pledging to bring the digital renminbi and the digital economy worldwide. In 2022, China entered a cycle of loose fiscal and monetary policy, while Europe and the US were still enduring stagnation. China views digital fiat money and digital economic development as a breakthrough to drive the transformation of the current economic system, new inventive growth, and the safety of the whole supply chain in the context of the scissors gap. It has become one of the forefront countries in the digital field, with numerous experiences that can be learned by countries around the world. A mature financial service system and financial market allows the free exchange and circulation of currency, and even a mature and stable currency derivative trading market enhances the resilience of the currency ecosystem. This paper also creates the concept and calculation formula of the e-CNY Index, sets the year 2022 as the first year of the e-CNY with the initial value of the index at 100; it also gives suggestions for creating and calculating the China-style Digital Economy Index. The importance of these indices as new tools for tracking and evaluating the digital macroeconomy in China is presented, providing a promising direction for future in-depth research on digital fiat currency. Finally, the article conducts empirical data analysis from the perspective of China's digital renminbi, proves the promotion effect of digital legal currency with facts, and gives corresponding suggestions to government departments.

 

Author (s) Details

 

Wenbo Lyu
Saxo Fintech Business School, University of Sanya, Sanya, 572000, China.

Yueting Liu
Nanyang Technology Entrepreneurship Center, Nanyang Technological University, Singapore, 639798, Singapore.

 

Please see the book here:- https://doi.org/10.9734/bpi/mono/978-93-48388-89-6/CH1  

Shifting Work Paradigms: Legal Perspectives on India's Digital Revolution | Chapter 1 | New Advances in Business, Management and Economics Vol. 1

The rapid advancement of technology has been accompanied by a digital revolution that is redefining work dynamics across the globe, with India at the forefront of this transformation. The explosion of digital platforms, remote work models, and gig economy structures has given rise to new challenges and opportunities for both employers and employees. This paper explores the shifting paradigms of work in India, focusing on the legal frameworks that govern this evolving landscape. India's labor laws, traditionally designed to address conventional employment models, are undergoing a significant transformation to adapt to the demands of the digital economy. The paper focuses on the regulation of gig and platform workers under the Code on Social Security, 2020. The rapid advancement of digital technology has profoundly affected individuals' right to privacy. This ongoing evolution of privacy legislation underscores the complex interplay between data collection, technological innovation, and individual rights. By exploring the historical development of privacy regulations, their roots in traditional legal systems to their modern application in the digital era have been traced. The study also examines the legislative efforts to bridge the gap between technological advancements and the protection of workers’ rights, emphasizing the need for inclusive and flexible policies. By providing insights into the intersection of technology, work, and law, this paper aims to contribute to the discourse on creating a balanced regulatory framework that supports economic growth while safeguarding the rights and dignity of the Indian workforce in the digital age. The paper further explores how companies in India connect workers with tasks through online platforms. These platforms use algorithms to assign piece-rate jobs to independent partners/contractors. One of the key challenges in this area is the reliance on algorithms to assign piece-rate jobs to independent partners or contractors. While this approach enables efficiency and scalability, it raises concerns about fairness, transparency, and accountability in the allocation process. Additionally, the rapid expansion of the digital economy, particularly after the COVID-19 pandemic, has intensified the role of the platform economy, further complicating issues such as worker classification, rights, and equitable treatment.

 

Author (s) Details

Paramita Bhattacharyya
School of Law, Brainware University, Barasat, India.

 

Sudipta Adhikary
School of Law, Brainware University, Barasat, India.

 

Please see the book here:- https://doi.org/10.9734/bpi/nabme/v1/3708

Empowering the Invisible: Unveiling the Women Homeworkers in Thailand’s Digital Economy | Chapter 2 | An Overview on Business, Management and Economics Research Vol. 9

 The study examines issues of gender relations and the use of ICTs for economic activities among women homeworkers in Thailand’s digital economy. Home-based work (subcontracted work to be done at home) is widespread in all regions of Thailand. Most homeworkers use their houses as the workplace for producing textiles and garments, wood products, basketry, artificial flower making, food processing, leather goods and plastics, metal products and jewelry, and then deliver them to the employers or business mediators. This is not the same as production for direct sale. In 2007, the National Statistical Office (NSO) reported that out of the 249,290 households, there were 440,251 people earning their livelihoods through homeworking. Of this number, 337,526 or slightly more than three quarters of them were women and 102,725 were men similar to NSO, 2019 found more than half of Thai women are under the informal economy track. This study builds on previous research conducted in 2006 on the status of women homeworkers in Thailand and their use of Information and Communications Technology (ICT) to promote economic empowerment and generate new income opportunities. Social and community development that allows for participatory approaches to local development and management, including the revival and transmission of Thai cultural diversity, such as way of life, customs, values and local wisdom. Since 2006, Thailand has undergone numerous social, economic, and political changes. Acknowledging the problems homeworkers face, in 2010, the Thai Parliament passed the Homeworkers Protection Act B.E. 2553 and a social protection policy came into force in 2011 till currently. The law mandates fair wages, including equal pay for men and women doing the same job. Even though this Act is in effect, most homeworkers are still not aware of their legal rights and keep working under unfair conditions. The enabling and disabling environments for women who work from home will be discussed in this research study, along with the awareness and capacity of these individuals to improve their circumstances, as well as their access to and management of resources for using ICT to grow their businesses in Thailand's rapidly expanding digital economy. It will also look at how women use ICT for gender equality, as well as how these initiatives affect gender governance and women's economic empowerment.

Author(s) Details:

Kamolrat Intaratat,
Sukhothai Thammathirat Open University, Thailand.

Please see the link here: https://stm.bookpi.org/AOBMER-V9/article/view/13404

The Emergence of Digital Economy and New Business Models in the Era of Digital Transformation | Chapter 13 |New Innovations in Economics, Business and Management Vol. 7

 The digital economy has emerged as a result of the digital transition, as mentioned in this article. On the one hand, the digital transformation has altered people's lifestyles, while on the other hand, digitalization has completely altered business procedures. Every country, developed or developing, has been severely touched by the digital economy. The digital economy is made up of three core components, and many business models have emerged as a result of the digital transition. The internet of things, cloud computing, and e-commerce are examples of this. These three business models have favourable overall economic consequences, and they are becoming the driving force behind global economic growth.

Author(S) Details

Omar Mohammad Al-Kasasbeh
Amman Arab University, Jordan.

View Book:- https://stm.bookpi.org/NIEBM-V7/article/view/6398

Collaboration and Entrepreneurship within Digital Environment | Chapter 13 | Insights into Economics and Management Vol. 10

 Companies engage in a variety of international relationships with external stakeholders in order to develop appealing offerings. This book compares and describes the most common online business collaboration concepts in an international setting. The concepts are assessed in terms of their implications for businesses, particularly in the contexts of innovation and big data collaboration. The research is based on the findings of the literature on common online business collaboration concepts. Analyses of their characteristics, as well as an assessment of the implications from the standpoint of a company The key implications for a company include the need for interaction with various external stakeholders in order to improve innovation, opportunities, and access to critical resources, as well as the need to prepare for changes in online networks. While many collaboration concepts are used in contemporary business literature, their application in traditional research varies, and the concepts have not been analyzed and compared in an online environment.

Author (s) Details

Olga A. Shvetsova
School of Industrial Management, Korea University of Technology and Education, South Korea.

View Book :- https://stm.bookpi.org/IEAM-V10/article/view/1475