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Poverty alleviation has been a major theme of China's modernization process since the founding of New China. This paper points out that China's poverty alleviation process presents three stylized facts: “Miraculous” achievements of poverty alleviation have been made on a global scale; the poverty alleviation achievements mainly occurred in the high growth stage after reform and opening up; the poverty alleviation process is accompanied by the structural transformation of the urban–rural dual economy.

Therefore, a logically consistent analytical framework should form among the structural transformation of the dual economy, economic growth and the achievements in poverty alleviation. In logical deduction, the structural transformation of the dual economy affects rural poverty alleviation through the effects of labor reallocation, agricultural productivity improvement, demographic change and fiscal resource allocation.

The first two refer to economic growth, and the latter two are alleviation policies. The combination of economic growth and poverty alleviation policies is the main cause for poverty alleviation performance. China's empirical evidence can support the four effects by which the structural transformation of the dual economy affects poverty alleviation.

China's socialist system and its economic system transformation after reform and opening up provide an institutional basis for the effects to come into play. After 2020, China's poverty alleviation strategies will enter the “second-half” phase, namely, the phase of solving the problems of relative poverty in urban and rural areas by adopting conventional methods and establishing long-term mechanisms. This requires the facilitation of the reconnection between poverty alleviation strategies and the structural transformation of the dual economy in terms of development ideas and policy directions.

This paper studies the political economy of the endogenous urban–rural divide in two dimensions: labor market and provision of public goods.

This paper gives a dual-sector model endogenously depending on the consumption of public goods (club goods), the number of rural–urban migrants and the tax rate (transfer payments).

According to the research findings in this paper, the constraints on the participation of rural residents portray the rural residents' bargaining power, and in the game between the urban elites and the rural residents, tax rates depend on the preferences of the urban elites and the constraints urban elites and the rural residents jointly face. Therefore, the urban elites have to set tax rates deviating from the most preferred ones. The model in this paper can explain a series of empirical findings and yield new theoretical findings for empirical testing.

Significantly, the paper finds that the increase in agricultural productivity will lead to industrialization, accompanied by the disintegration of the dual-sector model. However, though the increase in industrial productivity can accelerate industrialization, it will further expand the urban–rural divide.

The purpose of this paper is to analyze the structure and changes of China’s land system. To achieve this aim, the paper is divided into four parts. The first part gives a brief introduction to the structural characteristics of the Chinese land institutional arrangements; the second part analyzes the reform process of the land system in the past 40 years and its path of change; the third part engages the discussion about the historic contribution made by the land institutional change to rapid economic growth and structural changes; and the final part is conclusion and some policy implications.

After 40 years of reforms and opening up, China has not only created a growth miracle unparalleled for any major country in human history, but also transformed itself from a rural to an urban society. Behind this great transformation is a systemic reform in land institutions. Rural land institutions went from collectively owned to household responsibility system, thereby protecting farmers’ land rights. This process resulted in long-term sustainable growth in China’s agriculture, a massive rural-urban migration and a historical agricultural transformation. The conversion of agricultural land to non-agricultural uses and the introduction of market mechanisms made land a policy tool in driving high economic growth, industrialization and urbanization.

Research shows that the role of land and its relationship with the economy will inevitably change as China’s economy enters a new stage of medium-to-high speed growth. With economic restructuring, low-cost industrial land will be less effective. Urbanization is also shifting from rapid expansion to endogenous growth so that returns on land capitalization will decrease and risks will increase. Therefore, China must abandon land-dependent growth model through deepening land reforms and adapt a new pattern of economic development.

This paper gives a brief introduction to the structural characteristics of the Chinese land institutional arrangements, analyzes the reform process of the land system in the past 40 years and its path of change, and evaluates the historic contribution made by the land institutional change to rapid economic growth and structural changes.

At present, the Chinese economy has entered the “new normal” phase with the transformation of development stages from the low-income to the middle-income ones. Accordingly, there appear a series of innovations in development theories. Innovations involve creative destructions. Therefore, innovative development theories at the present stage either deny the prevailing principles of development economics, or deny the theories that once effectively guided development at the low-income stage, or even sublate some of the development polices which were propelled and proved effective at the beginning of the reform and opening-up. The fundamental reason is that, as the development stages evolve, there occur new development tasks, new periodical characteristics and new laws of development. The paper aims to discuss these issues.

Any development theory from abroad will find it difficult to correctly guide and clarify development problems in a socialist country, such as the huge population and the extreme imbalance between the urban and the rural and among regional developments.

In conclusion, China, as a large world economy, has made innovations in its economic development theory, which indicates that it intends to perfect itself rather than seek hegemony. As the world’s second largest economy, China should adapt to the transformation and further free people’s minds instead of adhering to the old patterns of thinking. It should think over the path of development for a great world economy from the historical starting point of a large world economy and find development strategies to transform itself from a large economy to a great economy, so as to realize the dream of the Chinese nation to build a powerful country.

Only political economy studies both the relations of production and the productive forces, and only a theory combining both can correctly guide China’s economic development, which especially needs to be promoted by taking advantage of socialist economic system. Therefore, the first and foremost principle for a socialist political economy with Chinese characteristics is to insist on liberating and developing productive forces.

Challenges from the urban–rural disparity immensely burden the world's progress fulfilling Sustainable Development Goals and the goals' central promise, particularly for developing countries experiencing rapid structural change and urbanization. A knowledge gap lies between the epistemology of urban–rural disparity and the practice of integrated urban-rural development. This paper aims to provide a new approach to bridge the knowledge gap based on the recent Chinese experience.

This qualitative research reviewed major economic and multidisciplinary studies regarding urban-rural development and the growth-equality tradeoff. Chinese experience is employed to showcase concrete challenges from the urban–rural disparity and how the proposed approach works for urban-rural integration.

Theoretical and practical approaches with urban bias largely fail to counter the challenges. Building on China's recent practice probing beyond urban bias, IFPRI (2019) proposes the term rurbanomics with a highlight of equalized urban-rural economic partnership, whereafter Zhou and Chen (2021) enrich the term into a conceptual framework. This paper further improves rurbanomics as a new viable approach to integrated urban-rural development under the overarching goal of common prosperity. The approach prioritizes driving forces in the economic, demographic, eco-environmental, social institutional and technological aspects for the policy community to leverage. Long-term mechanisms are decerned to link urban-rural integration to common prosperity.

China has leveraged ingredients of the rurbanomics approach in the political deployment to integrated urban-rural development. However, the application of this approach is yet to be adapted with local heterogeneities and live up to application's potential. Long-term mechanisms recommended by the rurbanomics approach will need to be carried out. Future improvements will need substantial theoretical extension and micro-level empirical studies.

This paper streamlines the epistemological shreds regarding pursuits, challenges, global experiences and theoretical approaches of urban-rural development. The paper also develops rurbanomics to navigate urban-rural integration, Sustainable Development Goals and common prosperity. By decerning long-term mechanisms in the Chinese case accordingly, this paper provides clues for other economies to employ the new approach.

Constant or decreasing returns and increasing returns to scale are two kinds of mechanism in economic growth. The goal of supply-side structural reform is to promote the establishment of the mechanism with increasing returns to scale. The paper aims to discuss this issue.

This paper argues that the overall economic structure of the developing economy has been divided into the sector of constant or decreasing returns to scale and the sector of increasing returns to scale due to the dual economic structure. Among them, the supply-side structural reform is mainly to reduce the sector of decreasing returns to scale and increase the sector of increasing returns to scale. Based on the hypothesis of such two-sector economic structure in the supply side of developing economies and on the industrial data, this paper empirically tests the returns to scale of China’s supply structure. The result suggests that so far the sector of constant or decreasing returns to scale dominates the supply structure of China’s economic growth, which results in the state of decreasing returns to scale in China’s overall economy.

Therefore, to realize the long-term sustained growth and transformation of the development pattern of China’s economy, the authors must carry out the supply-side structural reform, vigorously develop the modern industrial sectors characterized by modern knowledge and technology, and promote the development of an innovation-driven economy.

Besides, the authors must accelerate the transformation from traditional industrial sectors to modern industrial sectors, actively promote China’s industrial structure toward rationalization and high gradation, as well as build a modern industrial system so as to facilitate the formation of the mechanism of increasing returns to scale and accelerate the transformation of the driving force of China’s economic growth.

The purpose of this study is to elaborate the theoretical mechanism of rural credit input affecting the urban–rural income gap from the perspective of labor transfer, and use a dynamic panel mediation model to test the transmission mechanism of rural credit input affecting the urban–rural income gap through labor transfer, so as to provide an empirical basis for narrowing the urban–rural income gap in China.

This paper constructs a mechanism analysis framework for rural credit input affecting the urban–rural income gap. From the perspective of resource allocation and labor transfer, the authors expound the transmission path of rural credit input to the urban–rural income gap and analyze the theoretical mechanism of rural credit input that affects the urban–rural income gap through labor transfer. Based on this, this paper uses the dynamic panel mediation model to test the effect relationship between rural credit input, labor transfer and urban–rural income gap in 31 provinces of China from 2009 to 2018.

In theory, increasing rural credit input can ease the financial constraints on the development of “agriculture, rural areas and farmers” and provide capital accumulation for the development of rural non-agricultural industries. The development of rural non-agricultural industries can provide more jobs for rural surplus labor, thereby increasing the labor rate of return in rural areas, and ultimately conducive to narrowing the urban–rural income gap. Further, increasing rural credit input can improve the development level of rural non-agricultural industries, thereby promoting the transfer of agricultural labor. At the same time, rural credit input based on the intermediary variable of labor transfer has a significant inhibitory effect on the urban–rural income gap.

This study mainly focuses on the relationship between rural credit input, labor transfer and urban–rural income gap, so it is impossible to use micro-level data to further verify the impact of rural credit input on labor transfer. At the same time, the collection of indicators of rural credit investment in the China Financial Yearbook only started in 2009, which limited the number of samples to a certain extent.

This paper assumes that the economy is mainly composed of urban and rural economic sectors. Therefore, labor can flow freely between urban and rural areas. However, in the near future, China's rural secondary and tertiary industries may develop rapidly, especially with the in-depth implementation of rural revitalization strategy, it is very important to pay attention to the current situation of rural industrial structure and incorporate the factors such as rural industrial structure into the existing model.

This study attempts to provide a new perspective and inspiration for rural credit input, the optimal allocation of labor force and narrowing the urban–rural income gap under China's rural revitalization strategy.

Based on the analysis framework of neoclassical economic theory, this paper uses the constant elasticity of substitution production function to establish an urban–rural two-sector nested model that includes credit supply variables and analyzes the mechanism of rural credit input affecting the urban–rural income gap through labor transfer.

With the development of social productive forces and the advancement of agricultural practices since the founding of New China, the connotation of agricultural modernization with Chinese characteristics has undergone a process from formation to continuous expansion and deepening.

Its evolution can be roughly divided into four stages: the exploration stage, the formation stage, the establishment stage and the deepening stage. The historical evolution of the connotation of agricultural modernization with Chinese characteristics demonstrates four typical characteristics, namely increasingly scientific logical premise, continuously diversified orientations, increasingly improved core contents and progressively maturing strategies of development.

The achievements of agricultural modernization have laid a solid foundation for China's industrial modernization and the rapid development of the national economy. Meanwhile, the authors have identified through practical exploration a path of agricultural modernization with Chinese characteristics. In recent years, academic research on the connotation of agricultural modernization with Chinese characteristics has gradually heated up, and relevant achievements have emerged constantly.

The Communist Party of China (hereinafter “CPC”) has placed considerable emphasis on agricultural issues and has been committed to promoting agricultural modernization since the founding of New China. Through long-term persistence and unremitting efforts, China has made remarkable achievements in agricultural development: significantly improved agricultural production conditions and agricultural output capacity, constantly optimized agricultural structure and steadily increased the income of farmers.

“It should also be noted that the objective of convergence and equal distribution, including across under-performing areas, can hinder efforts to generate growth. Contrariwise, the objective of competitiveness can exacerbate regional and social inequalities, by targeting efforts on zones of excellence where projects achieve greater returns (dynamic major cities, higher levels of general education, the most advanced projects, infrastructures with the heaviest traffic, and so on). If cohesion policy and the Lisbon Strategy come into conflict, it must be borne in mind that the former, for the moment, is founded on a rather more solid legal foundation than the latter” European Commission (2005, p. 9)Adaptation of Cohesion Policy to the Enlarged Europe and the Lisbon and Gothenburg Objectives.