China faces significant challenges in achieving its “dual carbon” goals, and constructing zero-carbon industrial parks is a key pathway to realizing these objectives. To accelerate the construction of zero-carbon industrial parks, there is an urgent need to clari-fy enterprises' willingness to participate in such initiatives and the factors influencing this willingness. This study integrated the theory of planned behavior (TPB), protection motivation theory (PMT), and motivation theory (MT) to construct a TPB-PMT-MT model. It em-ployed a structural equation model to analyze 894 valid survey questionnaires and examined the influence and transformation mecha-nisms through which behavioral attitudes, subjective norms, perceived behavioral control, and incentive factors shaped enterprises' will-ingness to participate in zero-carbon industrial park construction. The findings revealed that: ① Enterprises showed a certain level of enthusiasm for participating in zero-carbon industrial park construction, but overall willingness remained relatively low. Specifically, en-terprises in parks at or above the provincial level exhibited a relatively higher willingness to participate, while those in parks at or below the county level showed a relatively lower willingness. ② Enterprises' behavioral attitude toward such participation positively drove their willingness to participate, serving as a key influencing factor. Moreover, behavioral attitude not only directly affected their willing-ness but also mediated the indirect influence of subjective norms on participation willingness. ③ Subjective norms, perceived behavior-al control, and external incentives contributed to strengthening their willingness. Greater perceived external pressure from industry com-petition, policies, and society, as well as stronger perceived control over challenges such as transition difficulties, access to green elec-tricity, carbon-sink generation, and carbon offsetting, enhanced enterprises' willingness to participate. ④ Enterprises' willingness to participate varied across industries, geographical locations, park types, and firm sizes. To enhance enterprises' willingness to partici-pate in zero-carbon industrial park construction, governments and park authorities should increase the pressure on enterprises to en-gage, boost their confidence and motivation, innovate development models for zero-carbon industrial parks, promote their construction in a targeted and phased manner, and strengthen education and publicity regarding relevant knowledge.

International cooperation, especially among major economies, is essential for effectively addressing climate change. This study developed a two-sector (green and non-green production sectors) global dynamic stochastic general equilibrium (DSGE) model, in-corporating China, the United States (US), and the European Union (EU). Using macroeconomic and carbon emission data, the study conducted Bayesian estimation and calibration to simulate the impacts of both neutral and green technology shocks on the economic-en-vironmental system. The analysis focused on the transmission mechanisms of demand-side and supply-side adjustments under China's carbon tax policy scenario. Additionally, it employed a tripartite game theory model to explore optimal policy choices under internation-al carbon tax coordination constraints. The findings showed that: ① Neutral technology shocks intensified the “growth-emission” dilem-ma by expanding capital in the non-green sector, while green technology shocks overcame carbon lock-in through investment multipli-ers, fostering low-carbon economic growth. ② Under China's unilateral carbon tax scenario, China's domestic output contracted. De-mand-side subsidies marginally improved social welfare but led to higher carbon emissions. In contrast, supply-side subsidies enhanced green capacity through bidirectional cost adjustments, though they reduced household welfare across all three economies. However, when combined with green technological innovation, supply-side subsidies could create a win-win scenario, driving both economic growth and emission reductions. ③ In the tripartite carbon-tax game, the introduction of demand-side subsidies resulted in an equilibri-um with a carbon tax rate of 9.5% for China, and 11.5% for both the US and the EU, balancing emission reductions and welfare growth. Non-earmarked production subsidies for the green sector induced a “zero-tax-rate” prisoner's dilemma. However, earmarking produc-tion subsidies for green technology innovation fostered a new equilibrium with competitive cooperation (9.5% for China and the US, 10.5% for the EU), achieving both output and welfare growth while reducing carbon emissions. Based on these findings, this study rec-ommends: ① establishing a differentiated carbon-tax rate coordination mechanism tailored to the distinct realities of green industries in China, the US, and the EU; ② optimizing carbon-subsidy allocation by ensuring a fair transition with demand-side subsidies while driv-ing the growth-emission reduction cycle through supply-side subsidies, and ③ shifting international governance towards competitive co-operation—coordinating tax rates in the short term, sharing technologies in the medium term, and constructing a global carbon pricing mechanism in the long term—to achieve a dynamic balance between climate governance and economic growth.

Capacity utilization is a critical factor influencing the high-quality development of enterprises. Previous studies have pre-dominantly focused on the improvement effects of environmental regulation policies based on command-and-control or market incen-tives on enterprise capacity utilization, with limited attention given to voluntary environmental regulation policies. The impact of green factory construction, a novel tool for voluntary environmental regulation, on enterprise capacity utilization warrants further investigation. Based on data from A-share listed manufacturing companies from 2010 to 2023, this study employed a multi-period difference-in-differ-ences (DID) model to empirically examine the impact of green factory policies on enterprise capacity utilization. The findings indicated that: ① Green factory policies significantly enhanced enterprise capacity utilization, and this conclusion remainesd robust after a series of robustness tests. ② Mechanism analysis revealed that green factory policies primarily improved enterprise capacity utilization through three channels: reducing inefficient investment, curbing financialization tendencies, and enhancing the quality of information disclosure. ③ Heterogeneity analysis demonstrated that green factory policies exerted a more pronounced promoting effect on enterprise capacity utilization in non-resource-based cities, enterprises with weaker market power, and capital-intensive industries. ④ Further in-vestigation indicated that the combined implementation of voluntary and command-and-control environmental regulation policies could generate policy synergies, thereby more effectively improving enterprise capacity utilization. However, the synergistic effect between voluntary environmental regulation and market-based or public participation-based environmental regulation policies yielded less signif-icant results. To facilitate the high-quality development of manufacturing enterprises, governments should further promote and refine voluntary environmental regulation policies while coordinating the use of both voluntary and command-and-control regulatory tools. Ad-ditionally, governments should support enterprises in more efficiently understanding and meeting green factory assessment require-ments by providing services such as policy guidance and resource integration to promote enterprises to address overcapacity issues and achieve sustainable green development. This study contributes micro-level empirical evidence for the theoretical exploration of the eco-nomic effects of voluntary environmental regulation policies and provides practical insights into resolving overcapacity challenges in the manufacturing sector.

Revealing the mechanisms driving the evolution of territorial space functions serves as the logical foundation for construct-ing a synergistic and complementary territorial spatial system. This study employed panel data from 283 Chinese cities from 2007 to 2022 and applied kernel density estimation, fixed-effects models, and mediation analysis to examine the impact mechanisms and path-ways of land transfer prices on the evolution of territorial space functions. The results indicated that: ① From 2007 to 2022, land trans-fer prices and the territorial space production-living-ecological function index in each city showed an overall upward trend. The added value of land transfer prices showed a “high in the east and low in the west” spatial pattern, with high-value zones concentrated in coast-al urban agglomerations, while low-value zones clustered in the northwest and southwest regions. Production and living functions dis-played “high in the east and low in the west, and high in the south and low in the north” distribution patterns, whereas ecological func-tions shifted from an east-west gradient to a north-south polarization. ② Land transfer prices significantly accelerated the evolution of territorial space functions, with stronger effects on production and living functions than on ecological functions. The promoting effect was more pronounced in non-core cities than in core cities. ③ Land transfer prices exerted partial mediating effects through industrial structure upgrading on production functions, infrastructure development on living functions, and ecological restoration on ecological functions. In core cities, land transfer prices primarily drove the evolution of territorial space functions through industrial structure up-grading and ecological restoration, while in non-core cities, they mainly operated through industrial structure upgrading and infrastruc-ture development. The transmission mechanism of land transfer prices on the evolution of territorial space functions was the result of ef-ficient markets and proactive government intervention on the development and conservation of territorial spatial patterns. Based on the above conclusions, the following policy recommendations are proposed: policymakers should utilize the land transfer pricing mechanism to regulate land supply quantity to facilitate industrial upgrading, optimize land allocation to support infrastructure development, and stabilize land revenue to assist in ecological restoration, thereby promoting coordinated development among production, living, and eco-logical functions.

Under China's “dual carbon” and energy structure transformation goals, wind and solar power generation facilities face a practical dilemma characterized by the conflict between large-scale land requirements and insufficient land supply. Existing Chinese le-gal provisions offer two land acquisition regimes for expanding the scale of such facilities: statutory and consensual. However, these re-gimes either impose excessive land rights burdens on land suppliers, fail to provide stable land-use interests to facility owners, or over-look the public's capacity to benefit from renewable energy development. Consequently, none offers an ideal solution for securing the land scale required for such facilities. Public easement is a right based on public interest that empowers the state, the public, or public utility entities to require the owners of relevant real property to tolerate certain burdens. This study finds that public easement, as a re-gime for securing land use for wind and solar power generation facilities, can not only expand the scale of facility land use but also bal-ance the private interests of land suppliers and facility owners with the public benefits derived from renewable energy development. Thus, it represents an ideal institutional choice for acquiring land for wind and solar power generation facilities in China. To leverage the interest-balancing advantages of public easement in alleviating land supply-demand conflicts and to integrate this regime into Chi-na's legal framework, this study recommends that the construction of a public easement system for wind and solar power generation fa-cilities should encompass two dimensions: internal structural configuration and external legal expression. Regarding internal structural configuration, the system must address not only the static components—namely, subjects, contents, and objects—but also the dynamic mechanisms of creation, modification, and termination. In terms of external legal expression, given that China's public easement system for wind and solar power generation facilities possesses a hybrid public-private legal nature, this system should not be incorporated into the Civil Code of the People's Republic of China. In light of the forthcoming revision of the Renewable Energy Law of the People's Re-public of China, it is both necessary and feasible to uniformly regulate the public easement system for wind and solar power generation facilities in China within this legislation.

As a crucial strategic tool for China's digital economy, the impact of the digital industry cluster policy on urban green develop-ment and its underlying mechanisms remains underexplored. This study used green total factor productivity (GTFP) calculated by the SBM-GML model as the indicator for measuring urban green development levels, treated the national digital industry cluster policy as a quasi-natural experiment, and employed a multi-period difference-in-differences (DID) method to systematically evaluate the policy's impact on urban green development and its underlying mechanisms based on panel data from 284 prefecture-level and above cities in China from 2007 to 2023. The findings were as follows: ① The digital industry cluster policy significantly enhanced urban green development. Base-line regression showed that the policy could increase urban GTFP by 0.042 units on average. This result remained valid after conducting a series of robustness tests. ② Heterogeneity analysis showed that the policy's promotional effects were more pronounced in non-resource-based cities, non-old industrial base cities, and cities with higher levels of digital economy development, while they remained statistically insignificant in resource-based cities, old industrial base cities, and cities with lower levels of digital economy development. ③ Mechanism tests indicated that the policy fostered urban green development primarily through green technology innovation, digital enterprise and tal-ent agglomeration, and industrial structure rationalization. This study offers the following insights for policy optimization: First, strengthen the strategic positioning of the digital industry cluster and gradually expand the scope of policy implementation based on pilot experiences to form a new pattern of cluster development at the national level. Second, implement differentiated support strategies and formulate target-ed policies for cities with varying resource endowments, industrial foundations, and digital economy development conditions to enhance re-source allocation efficiency. Finally, focus on key mechanisms such as green technology innovation, digital factor agglomeration, and indus-trial structure rationalization, and strengthen policy support for promoting technology transformation, talent environment optimization, and industrial synergy.

Since the introduction of personal carbon accounts (PCAs), the problem of low public participation motivation in China has not yet been fundamentally resolved. This issue has become a key factor restricting the popularization of PCAs and carbon emission re-duction on the consumption side. Based on a social interaction perspective, this study empirically examined the impact of different types of social interactions on the public's willingness to participate in PCAs and its underlying mechanisms by adopting the Stimulus-Organism-Response model as the analytical framework and using data from 913 valid questionnaires. The results showed that: ①Direct effect analysis indicated that passive interaction could significantly enhance the Chinese public's willingness to participate in PCAs, whereas the facilitating effect of active interaction was not verified. ②The public's perceived values of PCAs in terms of economy, hedo-nism, achievement, and environment all had positive driving effects on their participation willingness, with achievement value and he-donic value playing the greatest motivating role. ③Mechanism analysis demonstrated that social interactions stimulated willingness to participate in PCAs by enhancing the public's multi-dimensional perceived values. A comparison of effect strengths found that econom-ic value played a key channel role in the case of active interaction, while achievement value became the core pathway in the case of pas-sive interaction. ④Moderating effect analysis showed that relationship strength and relationship quality played a significantly positive moderating role in the transmission mechanism of social interactions affecting willingness to participate, i.e., an increase in the level of the moderating variables can further strengthen the facilitating effect of social interactions on perceived values, as well as the strength of the mediating effect played by the perceived values. Different from previous studies that mostly focus on individual psychological fac-tors, this study reveals that social interaction can also effectively alleviate the problem of insufficient participation motivation. This not only provides a decision-making basis for the promotion and penetration of PCA in China, but also adds new empirical evidence to the literature on PCA and social interaction.

Cultivated land protection policies in China have long been biased toward the supply side, with insufficient attention to changes in residents' dietary demand, leading to deviations in policy effectiveness. Anchored in the concept of “limited” dietary de-mand, where human diets are readily saturated and excessive intake yields no additional benefit, this study took plant-based dietary de-mand as a typical case. Using provinces as the unit of analysis, this study integrated statistical and demographic data, applied GIS-based spatial analysis and statistical tools, and constructed supply-demand ratio indicators for different crops by decomposing their con-tributions. This approach depicted the supply-demand patterns and spatiotemporal evolution of calories, protein, and fat between 2000 and 2022, assessed the balance between food supply and demand, and explored pathways for adjusting food supply-demand structures across regions. The results showed that: ① From 2000 to 2022, China's cultivated land food supply capacity under plant-based dietary demand increased overall, with calorie and protein needs being largely met, but there was a persistent deficit in fat-derived energy sup-ply. ② During the study period, regional disparities in supply-demand ratios under plant-based dietary demand were evident, with calo-ries, protein, and fat exhibiting a spatial pattern characterized by “depressions at the eastern and western ends with central uplift and a north-south gradient with higher values in the north,” and their temporal trajectories remained stable with no marked shifts in spatial form, location, or overall configuration. ③ Between 2000 and 2022, the total supply of calories, protein, and fat from Chinese cultivated land increased significantly. Calories and protein were mainly contributed by maize, vegetables, and wheat, while fat was primarily sup-plied by rapeseed, vegetables, and soybeans, reflecting persistent structural shortcomings. ④ Under a plant-based dietary pattern, the overall demand for cultivated land by residents declined, but different crops exhibited both surpluses and deficits in various regions, showing significant pattern differentiation. This study recommends shifting from “emphasizing supply” to “production according to de-mand and demand-side management,” reasonably guiding plant-based diets, and increasing the consumption of coarse grains (such as cereals and tubers), soy products, rapeseed oil, fresh vegetables, and fruits, among other foods. On the supply side, it is necessary to op-timize planting structure and reasonably allocate cultivated land resources according to local conditions and timing. In terms of gover-nance, improving cross-regional adjustments and horizontal compensation between production and marketing areas would help form a new mechanism for coordinated cultivated land protection and food security.

Innovative rangeland cooperative management models are viewed as critical pathways for achieving harmonious coexistence among herders, grasslands, and livestock. However, under the current property rights framework, how to optimize rangeland cooperative management models while safeguarding individual herder rights remains to be explored in depth. This study examined the emerging practice of innovative rangeland cooperative management in pastoral areas of Ruoergai County, focusing on three models: individual household management, multi-household cooperative management, and village-wide cooperative management. Using data development analysis (DEA), the study measured livestock production efficiency and empirically tested the impact of cooperative management mod-els on production efficiency, along with their underlying mechanisms. In addition, drawing on the “bundle of rights” theory in public re-source governance and case survey data, the study systematically explored the practical experiences and theoretical implications of in-novative cooperative management models in pastoral areas. The results demonstrated that: ① Compared to individual household man-agement, both multi-household and village-wide cooperative models significantly improved livestock production efficiency. ② The im-pact of grassland transfer behavior on production efficiency varied across management models. In individual household management, households not participating in grassland transfer exhibited slightly higher technical efficiency than those participating, whereas in multi-household and village-wide cooperative models, participants in grassland transfer demonstrated higher efficiency. ③ Individual household management relied more on market-based production strategies, while multi-household and village-wide cooperative models tended to adopt combined market-based and collaborative strategies, thereby achieving better efficiency outcomes. ④ Mechanism analy-sis indicated that multi-household and village-wide cooperative models positively influenced production efficiency through collaborative production strategies, while market-based production strategies exhibited a negative effect. ⑤ The innovation of rangeland cooperative management models lay in enriching the connotations of the management rights based on improved rangeland contracting rights, includ-ing rights such as grazing quotas, seasonal grazing rights, and critical resource access rights. These management rights were allocated through complex social networks integrating market networks, social reciprocal relationships, and collective redistribution. Based on these findings, this study argues that rangeland management should clearly distinguish between initial resource rights and the resource management rights and further enrich the connotations and allocation mechanisms of the management rights. This approach serves as a key pathway for advancing cooperative management models within the existing property rights framework, while also extending the “bundle of rights” theory in public resource governance.

The Xin’ an River horizontal ecological compensation pilot represents a typical case of China's first institutional exploration of establishing a horizontal ecological compensation mechanism for watershed governance. This practice breaks away from the traditional end-of-pipe governance paradigm centered on water quality compliance and shifts toward an institutional model that integrates overall ecosys-tem functionality with regional collaborative governance. While the policy initially aimed to improve watershed water quality, a key ques-tion remains whether it can further enhance the overall ecosystem service capacity and promote coordinated improvements in ecological quality across upstream and downstream regions—both of which are critical for evaluating its overall effectiveness. This study used panel data from 70 counties in Anhui and Zhejiang provinces between 2007 and 2023 and applied a difference-in-differences (DID) method to assess the effects of the Xin’ an River horizontal ecological compensation on ecological quality at both the watershed and subregional lev-els. It also examined the cumulative effects across different pilot phases, the underlying mechanisms, and the heterogeneity of improve-ments across pilot counties. The results showed that: ① Horizontal ecological compensation significantly improved the overall ecological quality of the watershed, a conclusion that remained robust under multiple verification tests. ② Heterogeneity analysis indicated that the policy significantly promoted ecological quality improvement in upstream areas, but the effect was not statistically significant in down-stream regions. From a watershed-wide perspective, the cumulative policy effects intensified over time. Regionally, as the compensation mechanism was continuously optimized and assessment standards were gradually tightened, the policy's cumulative effects gradually spread from downstream to upstream, fostering more synchronized ecological improvements and facilitating a collaborative governance pat-tern across regions. ③ Mechanism testing revealed that ecological improvements in upstream areas were mainly driven by green industrial transformation and increased agricultural infrastructure, while improvements in downstream areas stemmed from green industrial transfor-mation and enhanced ecological industrialization efficiency. ④ The ecological impact of horizontal ecological compensation varied across different pilot counties. This study provides empirical evidence and policy insights for improving cross-regional ecological compensation systems, promoting collaborative watershed governance, and designing differentiated incentive mechanisms.

Food security is of paramount national importance. In the context of accelerating global digital technology penetration and profound transformations in consumption patterns, the development of rural e-commerce is a crucial measure for transforming agricultur-al development approaches and innovating rural business models. Revealing whether rural e-commerce “crowds in” or “crowds out” county-level grain production is of significant importance when considering the assurance of China's food self-sufficiency. This study utilized the “Taobao Village” initiative—a collaborative endeavor between Alibaba Group's Taobao e-commerce platform and local gov-ernments—to construct county-level panel data based on the number of Taobao Villages. The study systematically examined the impact of rural e-commerce on county-level grain production and its underlying mechanisms. The findings revealed the following: ① It is evi-dent that rural e-commerce development exerted a significant crowding-out effect on country-level grain production. This conclusion re-mained robust after endogeneity treatment and multiple robustness tests. ② The crowding-out effect of rural e-commerce development on county-level grain production demonstrated significant heterogeneity due to differences in agricultural functional zones, county ad-ministrative attributes, and geographic locations. The crowding-out effect was observed in production-consumption balanced areas and major grain-consuming regions, county-level cities and municipal districts, and western regions. ③ The crowding-out effect of rural e-commerce on county-level grain production was primarily achieved through the non-agricultural shift of the rural labor employment structure and the non-grain shift of the cultivated land planting structure. ④ Major grain-producing county reward policies could effec-tively correct the crowding-out effect of rural e-commerce development on county-level grain production, providing empirical evidence for better stabilizing grain production and safeguarding national food security in the digital economy era. Based on this, to achieve the objective of securing China's food self-sufficiency in the digital intelligence era, it is necessary to strengthen the integration of e-com-merce technology, platforms, and business models with county-level grain production; establish an “e-commerce + grain” collaborative development mechanism; increase subsidies for major grain-producing counties; and ensure that grain planting areas remain stable at safe levels.

In the digital era, data elements have become the strategic resources and key elements driving systemic economic and social changes. Deepening the reform of data factor marketization is an important measure to unlock the value of data factors and build a more resilient modern energy system. Based on panel data of 278 prefecture-level and above cities in China from 2010 to 2023, this study treated the establishment of data trading platforms as a quasi-natural experiment and used a double machine learning model to empiri-cally examine the impact of data factor marketization on urban energy system resilience and its underlying mechanisms. The results showed that: ① Data factor marketization contributed to promoting urban energy system resilience, and this conclusion remained valid after a series of robustness tests and endogeneity treatments. ② Mechanism tests indicated that, in terms of internal governance, data factor marketization could enhance urban energy system resilience by optimizing resource allocation and promoting green innovation. In terms of the external environment, the government's digital governance awareness and market information accessibility exerted a posi-tive moderating effect, strengthening the positive impact of data factor marketization on urban energy system resilience. ③ The impact of data factor marketization on urban energy system resilience exhibited significant heterogeneity among cities with different endowment structures, infrastructure levels, and institutional environments. Specifically, the positive impact was more pronounced in city groups that were not old industrial bases, were non-resource-based, and had higher levels of digital infrastructure, traditional infrastructure, market development, and fiscal transparency. Based on the above conclusions, this study puts forward the following policy recommenda-tions: leverage data trading platforms to fully activate the application value of energy data; pursue a dual-dimensional pathway of “inter-nal governance optimization-external environmental empowerment;” and formulate differentiated development measures to enhance the targeting of policy supply.

Corporate green technology innovation, a central pillar of China's low-carbon transition, is increasingly susceptible to signif-icant disruptions from extreme temperatures. Against this backdrop, can government fiscal intervention serve as a critical tool to miti-gate these climatic shocks and foster corporate green technology innovation? This study empirically addressed this question using data from China's A-share listed companies from 2015 to 2023 and a two-way fixed effects model. The findings indicated that: ① During the study period, extreme high temperatures significantly suppressed corporate green technology innovation, whereas extreme low tempera-tures exerted a significant positive effect. Both types of temperature shocks exhibited long-term impacts, characterized by cumulative and lagged effects. Heterogeneity analysis indicated that the inhibitory effect of extreme high temperatures was more pronounced in state-owned enterprises and non-heavily polluting enterprises, whereas the promoting effect of extreme low temperatures was more pro-nounced in state-owned enterprises and heavily polluting enterprises. Both temperature extremes exerted a more substantial impact on substantive green innovation than on strategic green innovation. Moreover, dispersed high temperatures and sustained low temperatures demonstrated significant inhibitory and promoting effects, respectively. ② Government subsidies exhibited a significant positive moder-ating role under both extreme high and low temperature conditions, alleviating the inhibitory effect of extreme high temperatures on cor-porate green technology innovation while enhancing the promoting effect of extreme low temperatures. In contrast, government procure-ment exerted a positive moderating effect only in extreme low temperature scenarios. ③ Under extreme high temperature conditions, government procurement significantly weakened the positive moderating effect of subsidies, whereas green government procurement strengthened this moderating effect. Under extreme low temperature conditions, both government procurement and green government procurement generated synergistic effects with government subsidies, jointly amplifying the promoting effect of extreme low tempera-tures on green technology innovation. This study provides new empirical evidence for understanding the mechanisms through which cli-mate risks affect corporate green technology innovation and offers critical policy implications for the government to design differentiated climate adaptation strategies.

Promoting the synergistic development of digitalization and greening has become an inevitable requirement for accelerating the cultivation of new quality productive forces and promoting high-quality economic and social development. In the era of data ele-ments, government public data has significant application potential for value creation and green development, providing a feasible path to promote digital-green synergistic development. This study defines the conceptual framework of digital-green synergistic development and elucidates the mechanisms through which government public data opening influences this process from the perspectives of informa-tion matching, factor allocation, and technological innovation. Based on panel data of 287 prefecture-level and above cities in China from 2007 to 2022, the study used the coupling coordination degree model to measure the level of urban digital-green synergistic devel-opment. Regarding the launch of urban open data platforms as a quasi-natural experiment, this study utilized the staggered difference-in-differences model to empirically test the impact of government public data opening on this development and its underlying mecha-nisms. The study found that: ① Government public data opening significantly enabled urban digital-green synergistic development, and this conclusion remained robust after a series of robustness tests and endogeneity corrections. ② Mechanism tests revealed that the gov-ernment public data opening promoted this development through information matching, factor allocation, and technological innovation mechanisms. ③ Heterogeneity analysis showed that the government public data opening had a more pronounced enabling effect on the digital-green synergistic development of cities with better regional resource endowments, a high degree of marketization, strong initial innovation capacity, and high-quality open data platforms. In light of these findings, it is proposed to strengthen the construction of pub-lic open data platforms, utilize big data and artificial intelligence technologies to achieve accurate matching between public data supply and demand, implement differentiated strategies for opening government public data, and encourage market players to leverage public data to extract element value. This study provides theoretical support and practical evidence for the digital-green synergistic develop-ment of government public data opening-enabled cities.

In the context of “continuing to fight the tough battle of pollution prevention and achieving synergy between pollution reduc-tion and carbon control,” the design of guiding mechanisms to enhance corporate participation and activate the secondary emissions trading market has become an urgent issue that the government needs to address. Based on trading preferential profit as a form of posi-tive reinforcement, this study proposed three alternative guiding mechanisms, developed corresponding evolutionary game models, and constructed two complex-network models considering stock heterogeneity to describe market network structure. Using the Zhejiang sec-ondary emissions trading market as a case study, the study examined the optimization of its guiding mechanisms through a complex-net-work evolutionary game method. The study showed that: ① The secondary emissions trading market performed better under a BA (Bar-abási-Albert) scale-free network than under a WS (Watts-Strogatz) small-world network. ② Under the BA scale-free network structure, the optimal guiding mechanism was dynamic and varied with the trading preferential profit coefficient. When the coefficient was low, the optimal guiding mechanism targeted both enterprises with surplus stock and those with insufficient stock, whereas when the coeffi-cient increased beyond a threshold, the optimal guiding mechanism shifted to targeting only enterprises with insufficient stock. ③ This shift reflected a transition in market dynamics from the stage of the supply market pushing the demand market to the stage of the de-mand market pulling the supply market. Based on the above conclusions, this study proposes the following recommendations: ① The government should timely and dynamically adjust the intensity and the target groups of the guiding mechanism in the secondary emis-sions trading market and ensure their alignment. ② The government should pay attention to the construction of market structure by clar-ifying structural relationships between market participants and their degree of unevenness, and leverage big data technologies to provide targeted trading services and systematically regulate the effective operation of the secondary emissions trading market. ③ The govern-ment should focus on implementation effects of the guiding mechanism and balance intervention intensity with the market's role to achieve coordination between an effective market and a promising government. This study expands the relevant research on emissions trading and provides guidance for the effective operation of the secondary emission trading market and for the targeted implementation of environmental governance policies.

The development of green manufacturing systems not only serves as a key initiative to curb environmental pollution and im-prove resource utilization efficiency in the manufacturing sector but also as a significant driver for fostering new growth momentum. This study treated Green Factory Certification (GFC)—implemented under the demonstration program for green manufacturing systems—as a quasi-natural experiment. Drawing on the investment-investment opportunity sensitivity model and a multi-period difference-in-differ-ences (DID) approach, the study used data from Shanghai and Shenzhen A-share listed manufacturing firms between 2008 and 2022 to examine the impact of GFC on corporate investment efficiency from the perspective of uncertainty. The results showed that: ① GFC sig-nificantly improved manufacturing firms' investment efficiency. This result remained robust after a series of tests, including parallel trend testing, propensity score matching, entropy balancing, and instrumental variable approaches. ② Mechanism analysis indicated that GFC enhanced investment efficiency by reducing various forms of uncertainty: specifically, information uncertainty, governance un-certainty, capital uncertainty, and demand uncertainty. ③ Heterogeneity analysis, based on the classification of green factory disclosure texts from the Green Manufacturing Public Service Platform, showed that the positive effect of GFC on investment efficiency was stron-ger when firms disclosed more advanced practices. In contrast, forward-looking content in these disclosures did not provide incremental information and tended to weaken the positive relationship between GFC and investment efficiency. Moreover, the positive impact of GFC was more pronounced among firms operating in highly competitive industries and those in high-tech manufacturing sectors. Over-all, this study highlights the vital role of GFC in optimizing investment efficiency in manufacturing firms. It offers new insights into cor-porate investment behavior under environmental constraints and policy incentives, while providing theoretical and practical guidance for policymakers aiming to promote green development and high-quality growth in manufacturing.

Building a green manufacturing system is a key approach to achieving the“dual carbon”goals and promoting high-quality economic development in China. As the green factory project serves as a typical government green certification system and a core sup-porting unit of the green manufacturing system, studying the project can provide a theoretical basis and practical support with both prac-tical significance and academic value. This is essential for effectively motivating enterprises to deepen green governance and solve cur-rent problems such as tightening resource constraints and increasing environmental pressure. Specifically, using green factory certifica-tion as a quasi-natural experiment and combining the environmental and financial data of A-share listed enterprises from 2009 to 2023, this study explored the impact of the government green certification system on corporate green governance and its underlying mecha-nisms, and further addressed controversial issues regarding green factory projects. The results showed that: ① Green factory certifica-tion had a significant positive promoting effect on corporate green governance performance, and this conclusion remained robust after a series of tests such as the parallel trends test, the placebo test, and the propensity score matching method. ② Mechanism analysis re-vealed that technological optimization, efficiency improvement, and information disclosure effects were the core transmission paths through which green factory certification enhanced corporate green governance performance. ③ Extended analysis found that as the number of certifications increased, the marginal improvement effect of green factory certification on corporate green governance perfor-mance decreased; enterprises that committed environmental violations after being certified exhibited lower green governance perfor-mance, whereas enterprises with“credit repair”issues showed higher green governance performance. ④ Heterogeneity analysis indicat-ed that the promoting effect of green factory certification on corporate green governance performance was more pronounced in enterpris-es within heavy pollution industries, in the eastern region, and in areas with stricter environmental regulations. Based on these findings, this study proposes the following suggestions: leverage the exemplary role of green factory enterprises to encourage more enterprises to actively apply for green factory certification; strengthen dynamic supervision to ensure that enterprises continuously abide by evaluation standards and promote green governance; and enhance the innovation and industrial application of green technologies to improve enter-prises' green governance capabilities.

Against the backdrop of profound changes in the current global economic landscape, “industry + finance” positive interac-tion has become an important strategic choice for promoting high-quality economic development in China. This model, by deeply inte-grating the two major fields of industry and finance, promotes the effective connection between the real economy and the capital market, bringing new opportunities for assisting enterprises in achieving green and high-quality development. Based on data from Chinese A-share listed companies on the Shanghai and Shenzhen stock exchanges from 2010 to 2022, this study adopted a micro-enterprise per-spective and took the national pilot policy for industry-finance cooperation as a quasi-natural experiment. It also used a difference-in-differences (DID) model to deeply explore the impact of the “industry + finance” positive interaction on corporate ESG performance and its underlying mechanisms, aiming to provide theoretical and empirical support for the formulation of relevant policies and the high-quality development of enterprises. The study found that: ① The implementation of the industry-finance cooperation policy significantly enhanced corporate ESG performance. After considering a series of robustness tests such as endogeneity issues, placebo tests, and han-dling of sample selection bias, the research conclusion still held. ② Mechanism tests showed that the industry-finance cooperation poli-cy mainly promoted corporate ESG performance through four channels: resource support effect, information effect, agency cost effect, and digital empowerment effect. ③ Heterogeneity analysis revealed that the impact of the industry-finance cooperation policy on corpo-rate ESG performance varied significantly due to differences in the level of internal control of the enterprises, the technological level and competition degree of the industries they were in, and the environmental regulations and marketization level of the regions they were in. Specifically, the industry-finance cooperation policy had a stronger effect on improving the ESG performance of enterprises with low internal control levels, enterprises in high-tech industries, enterprises in highly competitive industries, and enterprises in re-gions with high environmental regulations and high marketization levels. ④ Finally, the study also found that the corporate ESG perfor-mance improvement effect of the industry-finance cooperation policy could effectively enhance enterprises' capacity utilization rates, re-duce their financial risks, and thereby help promote their high-quality development. This study broadens the research dimensions of economic effects of the industry-finance cooperation policy and provides important policy implications for accelerating “industry + fi-nance” positive interaction to empower enterprises' green and sustainable development.