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From the perspective of supply-side structural reform, the purpose of this paper is to analyze and discuss the necessity and feasibility of China’s foreign trade transformation and development and explores the realization path accordingly.

This paper mainly uses the speculative method of qualitative research to find out the scientific countermeasures of foreign trade transformation from the supply-side reform level on the basis of in-depth interpretation of the supply-side structural reform and foreign trade transformation and development.

The study found that the main problem facing China’s foreign trade development is structural problems. Therefore, through structural reforms such as technological innovation and institutional innovation, it can effectively promote the transformation and development of foreign trade.

This paper is the original result of the author. Except for the content already quoted in the text, this paper does not contain any other individuals or groups that have published or written the work.

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.

In the process of reform, although every landmark theoretical breakthrough is marked by the speech of the highest leadership of the Communist Party of China (CPC) or the decision of the CPC National Congress, each breakthrough is attributable to the theoretical contribution made by the academia of political economy. Notably, these theoretical breakthroughs invariably embrace innovations in the discourse system of political economy. The paper aims to discuss this issue.

The innovations and breakthroughs thereof have led to the political economy of socialism with Chinese characteristics.

The success of China’s economy highlights the superiority of the socialist economic system and development path with Chinese characteristics.

These major breakthroughs are accompanied by breakthroughs in relevant theories, which constitute a synthesis of a series of major theoretical innovations in political economics.

This paper examines the different features of China's economic development in different stages of economic globalization. The study finds that the investment- and export-based growth model drove China's high-speed economic growth between 2000 and 2007, which came into existence around 2000 when China plugged into the global production network.

This paper also finds that China slowed down to the New Normal because of the disruption to the socio-economic underpinnings of this growth model. As China adapts to and steers the New Normal, supply-side structural reforms can channel excess capacity to the construction of underground pipe networks in rural areas of central China and fix capital while advance rural revitalization.

At the same time, enterprises must strive to build a key component development platform for key component innovation and the standard-setting power in global manufacturing.

The establishment of a domestic production network integrating the integrated innovation-driven core enterprises and modular producers at different levels can satisfy the dynamic demand structure of China in which standardized demands and personalized demands coexist.

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.

Urban MICE competitiveness research consists of two clusters, one that is public-statistics-based and another that is questionnaire-based. Supply-side research on urban MICE competitiveness is rare. Based on the findings of Chen (2014) and other scholars, the purpose of this paper is to design counterpart statistical indicators to empirically analyze CMCA member cities.

After calculating the standardized Z value of the original statistical data for 17 CMCA member cities, the authors conducted confirmatory factor analysis for the first-level principal components, based on which hierarchical clustering was performed; then, regression analysis was conducted with the MICE profit factor as the dependent variable and the cost factor, tight support factor and facilitating factor as the independent variables to support publishing articles.

The confirmatory factor analysis showed that the urban MICE competitiveness indicators from the supply-side perspective include the profit factor, cost factor, tight support factor and facilitating factor.

On the basis of research findings from the demand perspective and the literature review, the authors constructed an urban MICE competitiveness indicator system from the perspective of the supply side and conducted principal component analysis. However, because of the inaccessibility of panel data, the current data were only sufficient to conduct the research. If panel data could be acquired, further research could be conducted to perfect the current indicator system for urban MICE competitiveness.

The findings suggest that tourism total income, tourism foreign exchange income, inbound tourist number, number of exhibitions, exhibition area, number of UFI member cities and number of ICCA member cities were the main reason for the gap between different cities’ competitiveness and the reform focus for improving urban MICE competitiveness. The cost factor had a significantly negative influence on urban MICE competitiveness, implying that the higher the average hotel room price and revenue per available room, the less competitive the MICE host city is.

The tight support factor exerts a significant positive influence on urban MICE competitiveness from the supply-side perspective, while the cost factor exerts a significant negative influence. The findings suggest that the tourism total income, tourism foreign exchange income, inbound tourist number, number of exhibitions, exhibition area, number of UFI member cities and number of ICCA member cities were the main reason for the gap between different cities’ competitiveness and the reform focus for improving urban MICE competitiveness. The cost factor had a significantly negative influence on urban MICE competitiveness, implying that the higher the average hotel room price and revenue per available room, the less competitive the MICE host city is.

The research bridge the empirical statistics and the questionnaire-based perception study on urban MICE tourism image, and advance to construct an empirical statistics based indicator system for urban MICE tourism image.

Xi Jinping’s speech on the theme of “Continuously Exploring the New Zeitgeist of Marxist Political Economy in China,” dated back to November 2015, has illuminated the historical background, social roots, practical basis, basic characteristics, Zeitgeist, ideological realm and other issues relative to the development of “Systematic Economic Theory” with Chinese characteristics (hereinafter referred to as SETCC). The paper aims to discuss these issues.

Exploring the SETCC marks a fundamental postulation for the development of contemporary Chinese Marxist political economy, and an important indicator of the Chinese wisdom thereof.

Unswervingly adhering to the new development concept as the leading factor, General Secretary Xi Jinping’s elucidation of the theoretical propositions and practical topics of building a modern economic system has, starting from the five aspects of development mainline, strategic support, fundamental approach, necessary road and institutional guarantee, and their interrelationships, unfolded new connotations and opened up a new realm of Xi’s New Economic Zeitgeist with new explorations on the structure and system of SETCC.

This paper first explains the development of Xi Jinping’s economic thoughts and reveals its systematization characteristics.

The purpose of this paper is to comprehensively and accurately analyze the supply and demand structural balance of grain in the context of China's agricultural supply-side reform. By subdividing and forecasting the supply and demand, it is beneficial for targeted production in the case of clear demand and supply trends of main grain varieties.

This paper forecasted and analyzed the demand of main grain varieties by the grey interval forecast, and based on the grey incidence analysis of more influence factors, forecasted the grain production with GM (1,N) model.

The results show that the demand and yield will keep sustainable growth in the next three years, while there is still a big gap between the supply and demand of the main grain varieties in China and the soybean's production is far behind the growing demand.

This paper can make full use of the information to provide the evidence for government to formulate policies and put forward some correlative suggestions for growers.

In this paper, the grey model technology is applied to the structural reform of grain supply side, and different models are used to predict the structural balance of supply and demand of different kinds of grain. The study of grain supply and demand structural balance in China is vital to ensure grain security in the context of agricultural supply-side reform.

Currently, China’s economy is in the critical phase of transforming economic development patterns and replacing old growth drivers with new ones. Whether it can successfully overcome the “middle-income trap” has become a significant issue attracting wide attention.

Driven by underlying digital technologies such as artificial intelligence, blockchain, cloud computing and big data, the fourth industrial revolution featuring the booming digital economy has provided significant opportunities for China’s economy to “overtake” and overcome the “middle-income trap”. The transformation of economic development pattern, the optimization of industrial structure, and the change of growth drivers, brought by the deep integration of digital and real economies are the keys to leaping over the “middle-income trap”.

From the supply side, the digital economy can improve the quality and efficiency of the supply side and promote the supply-side structural reform and economic growth from the following three aspects: First, promote the quality, efficiency and diversification of the supply system; second, promote networking, opening-up and synergy in the innovation system and third, promote the socialization, modularization and flexibility of production pattern. From the demand side, the digital economy can boost the new drivers of the “troika” of economic growth consisting of consumption, exports and investment by changing the market investment direction, promoting consumption upgrade and fostering export strengths. However, once these two attributes interact with each other, especially when data is combined with capital, the most adhesive factor in the market economy, a series of new social relations will then be produced based on the technical attribute, resulting in significant adjustments in social relations, involving both positive and negative externalities.

To overcome the “middle-income trap”, it is necessary to adapt to the laws of economic evolution and promote a fundamental change in economic growth drivers; boost the high-quality development of the digital economy by strengthening the support role of data in the digital economy; and accelerate digital industrialization and industrial digitalization to realize the integration of digital and real economies.