High-Level Science and Technology Self-Reliance and New Quality Productive Forces in the 15th Five-Year Plan: Mechanisms and Strategic Pathways

Yu Donghua, Li Moyuan, Jiang Wei

This paper examines how high-level science and technology self-reliance and self-strengthening can lead the development of new quality productive forces during the 15th Five-Year Plan period, focusing on original innovation, factor allocation, industrial transformation, system autonomy, and strategic implementation pathways.

[citation] 余东华,李墨源,姜伟.2026.“十五五”时期以高水平科技自立自强引领发展新质生产力的机制与路径探析[J].数量经济技术经济研究,44(07):5-30.

The transparency trade-off: Public data openness and energy inequality

Li Moyuan, Jiang Wei, Yu Donghua

This paper examines how public data openness affects household energy poverty in China, showing that while government transparency reforms improve digital governance efficiency and support green transition, they may also exacerbate energy inequality among vulnerable households through stronger informal environmental regulation and weakened energy-related public support.

[citation] Moyuan Li, Wei Jiang, Donghua Yu. 2026.The transparency trade-off: Public data openness and energy inequality[J].Journal of Environmental Management,414:130452.

Modern Industrial Systems in the 15th Five-Year Plan: Trends and Strategic Pathways

Yu Donghua, Li Moyuan

This paper examines the theoretical framework and development trajectory of China’s modern industrial system in the context of the upcoming 15th Five-Year Plan. 

[citation] 余东华,李墨源.2025.“十五五”时期现代化产业体系的发展趋势与建设路径[J].财贸研究,36(12):1-14.

New Quality Productive Forces Policy Diffusion and Cross-Regional Capital Flow: Corporate Cross-Regional Investment from the Perspective of Technology Backflow

Yu Donghua, Li Moyuan, Jiang Wei

This paper examines how the diffusion of new quality productive forces policy promotes cross-regional capital flows in China, showing that stronger policy diffusion encourages cross-regional investment by emerging-industry firms through technology backflow, weakens implicit local barriers to capital mobility, and improves both the scale and efficiency of capital allocation.

[citation] 余东华，李墨源，姜伟. 2026. 新质生产力政策扩散与资本跨区流动：技术回流视角下的企业异地投资[J]. 烟台大学学报（哲学社会科学版），39(3):55-72.

Non-Traditional Environmental Regulation, Information Asymmetry, and Corporate Financing Costs – Evidence from China’s Carbon Market (Working Paper)

Li Moyuan, Ba Yuhao

This paper examines the asymmetric effects of China’s carbon emission trading policy and carbon market development on debt and equity financing costs across different types of enterprises. Using panel data from 52 green enterprises and 81 high-pollution, high-emission (double high) enterprises from 2008 to 2020, we apply fixed effects models and mediation analysis.

Do Childbearing Age People Respond to Free Childcare Service? Evidence from a Field Experiment in China

Li Moyuan, Li Junrui, Feng Yuxuan

In this study, my team conducted a randomized controlled trial (RCT) to assess the effectiveness of a policy offering free childcare services to individuals of childbearing age. The objective of the policy is to address the declining fertility rate in China by incentivizing childbirth.

Lung Cancer in Hiroshima: Explanation of the Negative Relationship between Smoking and Lung Cancer

Li Moyuan, Fong Xuan Yun, Mateen Jamri Bin Jupri, Suriyana Binte Abdullah, Thurga D/O Singaraju, Tiffany Seng Shu Ning

In this paper, we visualized the lung cancer data in Hiroshima between 1975 and 2014 and gave an explanation of the negative relationship between the reduced smoking population and the higher cancer rates. 

Modeling Singapore's Resale HDB Flat Price: Optimizing Flat Choice with Limited Budget

Li Moyuan, Lin Xing, Ho Jia Xuan Valerie, Xiao Yifei, Ho Kai Xin Teresa

In this paper, we modeled the price of Singapore's Housing Development Board (HDB) resale flats and used the model to give suggestions to potential buyers on whether their targets are over-priced or under-priced.

Financial Data Analysis: Analysis of Zero Coupon Bond Prices and Spot Rate of Interest

Li Moyuan, Lin Xing, Ho Jia Xuan Valerie, Xiao Yifei, Ho Kai Xin Teresa

In this paper, we applied quantitative analysis to estimate the unobservable spot rate of interest and the forward rate using a set of bond prices in a certain time period. In the second part of the paper, we used NS and NSS model to fit in the yield curve and used the model to predict the future interest rate movements.