In the post-pandemic era, the street vendor economy has emerged as a vital means of alleviating employment pressure and stimulating market vitality, necessitating a scientific evaluation and optimization of its public governance policies. This study employs the PMC (Policy Modeling Consistency) Index Model to conduct a quantitative analysis of nine street vendor-related policies issued by national and local governments between 2020 and 2022. By integrating text mining and social network mapping methods, the paper constructs an evaluation system comprising ten primary variables and forty-two secondary variables. Based on the distribution of high-frequency terms, socio-semantic network diagrams, PMC index scores, and PMC surface plots, the study finds that the overall design of the street vendor policies is generally sound (with an average PMC index score of 7.28, and six policies rated as excellent). However, structural shortcomings persist, including short policy durations (78% are short-term), insufficient cross-departmental coordination (78% were issued by a single department), and incomplete coverage of target beneficiaries (some policies fail to focus on core groups). Local policies outperform national ones in areas such as incentive mechanisms and content innovation, reflecting greater governance flexibility. Accordingly, the study recommends policy optimization from three perspectives: top-level design (formulating medium- to long-term plans and optimizing policy tool portfolios), implementation mechanisms (providing categorized support and dynamic monitoring), and collaborative governance (enhancing interdepartmental coordination and promoting social participation), with the aim of promoting the normalization and sustainable development of the street vendor economy.

With the deepening of globalization and digital economy, cross-border e-commerce has become an important pillar of international trade, but its supply chain faces many challenges such as logistics fluctuation, policy uncertainty and demand fluctuation. This paper aims to construct a supply chain resilience evaluation system for cross-border e-commerce enterprises and propose an effective enhancement path. Through a combination of literature review and case study analysis, the article constructs a resilience evaluation framework from four dimensions and verifies the validity of the indicators by combining the operational data of cross-border e-commerce head enterprises. The study finds that multi-sourcing supply network, digital technology empowerment and policy compliance synergy are the core paths to enhance supply chain resilience; digitalization and localization strategies can significantly enhance supply chain risk resistance, and proactive compliance rules can help transform policy risks into competitive advantages. This study provides theoretical support and practical guidance for cross-border e-commerce enterprises to cope with global market uncertainty.

High-Speed Rail (HSR), characterized by train speeds exceeding 200 kilometers per hour, has emerged as a transformative mode of transportation, offering efficient intercity and long-distance travel. In recent years, China has developed the world's most extensive HSR network, raising important questions about its broader economic implications. This study investigates the impact of HSR construction and operation on regional economic development in China, with a particular focus on urban and peri-urban areas. Using qualitative case analysis, three representative railway lines—the Han–Yi Railway, Yi–Wan Railway, and Beijing–Zhangjiakou High-speed Railway—are examined to explore how HSR influences local economies, connectivity, and industrial transformation. The findings suggest that HSR significantly enhances regional integration, improves accessibility in underdeveloped areas, and contributes to the emergence of new economic dynamics, thereby playing a strategic role in shaping China's spatial and economic landscape.

This study analyzes how TikTok has achieved explosive growth in Monthly Active Users (MAUs) in the North American market, aiming to uncover the core mechanisms and strategies behind its user acquisition and retention. Through a comprehensive review of literature, case studies, and competitor comparisons, this paper summarizes TikTok’s strengths across multiple dimensions, including recommendation algorithms, product design, content ecosystem, marketing approaches, and localized operations. It elucidates the paths by which TikTok has achieved differentiated breakthroughs amid intense competition in the social media landscape. The findings reveal that TikTok maximizes content distribution efficiency through its “interest-driven + algorithm-based recommendation” mechanism, while also building a vibrant and diverse creator community via incentive structures. Furthermore, its “global platform + local operations” strategy demonstrates strong cultural adaptability. Despite challenges such as policy regulation, data privacy concerns, and geopolitical tensions, TikTok continues to show robust user appeal and growth resilience. The conclusions of this paper offer valuable insights for social media platforms seeking to develop growth strategies and expand internationally, while also contributing both theoretical and empirical foundations to the understanding of emerging short video platforms’ evolutionary mechanisms.

This study focuses on the principle of dual materiality and the stakeholder disclosure mechanism in corporate sustainability reports, and assesses the corporate social responsibility disclosure practices of multinational companies based on the Global Reporting Initiative (GRI) standards. The case study examined the 2022-2023 annual reports of ten companies and revealed a significant imbalance in stakeholder participation: the depth of information disclosure by investors and regulators was significantly greater than that by community organizations and civil society groups. At the level of dual materiality integration, environmental risk issues dominate, while social impact assessments such as human rights in the supply chain are relatively weak. The research reveals three major barriers to disclosure: information repetition leads to a decrease in reading efficiency, differences in compliance requirements between jurisdictions cause contradictions in disclosure, and the priority of reputation management weakens the integrity of negative information disclosure. Based on this, it is suggested to build an intelligent ESG management framework, optimize the disclosure focus through a dynamic stakeholder weight adjustment mechanism, and develop an automated compliance comparison tool to reduce institutional friction. This plan aims to improve the operability and credibility of corporate sustainability reports and provide theoretical support for the establishment of a unified global reporting standard.

In the context of a consumer society, Generation Z's symbolic consumption demonstrates a rational shift driven by socioeconomic uncertainty and cultural confidence. Economic pressure slowdown and increased uncertainty have prompted young people to pay more attention to the cost-effectiveness of consumption, while cultural revival reshapes value cognition. Unlike predecessors' brand obsession, Gen Z adopts a form of holistic rationality—deconstructing cultural narratives beyond superficial symbols. This shift constitutes a closed-loop mechanism of cultural empowerment: brands reinterpret traditional elements into modern consumption codes through cultural symbolization, while consumers reinforce cultural identity and emotional resonance through symbolic valorization. Phenomena such as the re-creation of national tide brands with the help of non-heritage elements and the revitalization of cultural heritage through digital immersion technology in the cultural tourism experience are vivid illustrations of this transformation of consumer ethics.

Under the global climate warming context, achieving China's "dual carbon" goals (carbon peaking and carbon neutrality) necessitates scientific evaluation of carbon emissions trading pilot policies. While existing studies predominantly focus on aggregate emission reduction effects, insufficient attention has been paid to regional heterogeneity in total-factor carbon emission efficiency and its driving mechanisms. Utilizing provincial panel data from 30 Chinese provinces, this study measures total-factor carbon emission efficiency through a non-radial Slacks-Based Measure (SBM) model, while employing Difference-in-Differences (DID) and Synthetic Control Method (SCM) approaches to assess the regional differential impacts of the carbon trading pilot policy. Key findings reveal: (1) China's carbon emission efficiency demonstrates significant spatiotemporal heterogeneity, with an average provincial efficiency of 0.416 accompanied by persistent regional disparities; (2) The carbon trading policy exhibits positive effects on efficiency improvement in pilot regions, albeit with observable time-lag effects and regional variations. The study proposes establishing differentiated quota allocation mechanisms and enhancing regional coordination and market liquidity to facilitate high-quality development of the national carbon market. This research contributes methodological innovations and empirical evidence for advancing environmental regulation theory and optimizing carbon market institutional design.

Driven by the rapid development of Internet technology, advertising communication channels and presentation forms have undergone profound transformations., However, the mechanism and effect of new advertising forms on commercial sales performance have not yet been fully demonstrated. This study explores the non-linear impact mechanism of advertising investment on sales through empirical analysis, focusing on the effect differences between traditional advertising and digital hybrid advertising and the law of diminishing marginal utility. Based on the e-commerce advertising and sales data(2019-2023) from Kaggle platform, a multiple linear regression model is constructed, and it is found that the total advertising investment is significantly positively correlated with sales and the marginal contribution of digital hybrid advertising is significantly higher than that of traditional advertising. However, the marginal decreasing effect of advertising input did not pass the significance test, possibly due to the fact that advertising input did not reach the saturation threshold in the data or the complexity of the nonlinear relationship. The study further reveals the impact of channel heterogeneity on advertising effectiveness and proposes a dynamic budget allocation strategy: prioritizing investment in digital advertising channels and reducing investment in inefficient traditional channels. Limitations include insufficient data timeliness, omitted variable bias, and endogeneity issues. Future research needs to expand the data dimensions, introduce machine learning models, and explore ad content quality and cross-channel synergies.

This paper examines the effects of external policy shocks—specifically, the China–US trade friction and the enactment of the Foreign Investment Law (FIL) of the People’s Republic of China—on A-share listed companies with foreign shareholding backgrounds. Using an event-study approach and regression analysis, we quantify the impact on Cumulative Abnormal Returns (CAR) and return volatility. The findings indicate that during episodes of intensified China–US trade friction, related companies experienced significantly negative CARs and heightened volatility within the event windows, indicating a substantive adverse shock to market performance. In contrast, around the FIL enactment, despite some negative CARs , the accompanying decline in volatility and stabilization of pricing suggest that the policy signal positively mitigated institutional uncertainty and improved foreign investor expectations. Regression analysis further reveals that tariff levels and policy uncertainty exert significant negative effects on firms’ abnormal returns, whereas firm fundamentals—such as Tobin’s Q—serve as partial buffers. Regional factors, notably whether a firm is located in a pilot free-trade zone, also moderate the transmission of policy shocks. Overall, this research shed light on the market response mechanisms and risk evolution faced by foreign-invested enterprises amid dynamic Sino–US relations and domestic policy reforms, offering important insights into cross-border capital behavior and institutional development.

Government trust is one of the sources of government legitimacy and an important foundation for social stability and governance. Based on provincial panel data in China, explore the direct role of digital government in government trust and the mediating role of government evaluation. Research has found that digital government has a significant promoting effect on government trust, and government evaluation has a mediating effect on the impact of digital government on government trust. Therefore, government departments should actively promote the development and application of digital technology, and scientifically formulate standards for government evaluation to build a strong chain of trust transmission.