Brief Introduction -- 1 China’s Dream and Roadmap -- China’s Dream: Common prosperity and a harmonious world -- China: A society with common wealth -- Common prosperity for China and the world -- Co-existence and prosperity between man and nature -- China’s roadmap -- Logic of China’s...

We use Chinese firm-level data from 2001 to 2007 to estimate the (dis)connection between firms’ R&D and productivity and find that the productivity effect of R&D investment is very low. We conjecture that firms conduct/report unproductive R&D in order to obtain policy benefits. To explore this...

Land finance is a special land financing mode in China under the nationalization of urban land since 1954. The policy authorizes local governments to collect fiscal revenue from land grant premiums and land taxes. As China is experiencing the social and economic transformation, heavily replying...