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China’s globalizing Internet describes a situation where China is using the Internet as a tool or medium to transmit its voice on the world stage and enhance its influence over the global Internet governance system and the global digitalization process. Several concerns, however, exist regarding China’s globalizing Internet strategies. This paper aims to respond to these concerns and enhance the understanding of China’s globalizing Internet strategies.

This paper will use content analysis to trace the policy development trajectory of China’s globalizing Internet, including policy vision, policy-making agencies and policy tools.

The Chinese government has issued a considerable number of policies to regulate and promote the development of the Internet since 2014. The key trend that emerged from the analysis of China’s globalizing Internet policy is the cooperation among different agencies. Existing policies have comprehensively used the supply-oriented tools, the environment-oriented tools and the demand-oriented tools; and the last two tools have been used more frequently in recent years.

The analysis results contribute to understanding how China uses digital technology to enhance its influence over the global Internet governance system.

This paper aims to optimize and evaluating the performance of the crowd networks through analyzing their information sharing patterns. That is, in a crowd network, the qualities of accomplishing tasks are highly dependent on the effective information sharing among intelligent subjects within the networks. Hence, proposing an adaptive information-sharing approach can help improve the performance of crowd networks on accomplishing tasks that are assigned to them.

This paper first introduces the factors that affect effectiveness of information-sharing pattern: the network topology, the resources owned by intelligent subjects and the degree of information demand. By analyzing the correlation between these factors and the performance of crowd networks, an Adaptive Information Sharing Approach for Crowd Networks (AISCN approach) is proposed. By referring to information needed for accomplishing the historical tasks that are assigned to a crowd network, the AISCN approach can explore the optimized information-sharing pattern based on the predefined composite objective function. The authors implement their approach on two crowd networks including bee colony and supply chain, to prove the effectiveness of the approach.

The shared information among intelligent subjects affects the efficiency of task completion in the crowd network. The factors that can be used to describe the effectiveness of information-sharing patterns include the network topology, the resources owned by intelligent subjects and the degree of information demand. The AISCN approach used heuristic algorithm to solve a composite objective function which takes all these factors into consideration, so that the optimized information-sharing pattern can be obtained.

This paper introduces a set of factors that can be used to describe the correlation between information-sharing pattern and performance of crowd network. By quantifying such correlation based on these factors, this paper proposes an adaptive information-sharing approach which can explore the optimized information-sharing pattern for a variety of crowd networks. As the approach is a data-driven approach that explores the information-sharing pattern based on the network’s performance on historical tasks and network’s characteristics, it is adaptive to the dynamic change (change of incoming tasks, change of network characteristics) of the target crowd network. To ensure the commonality of the information-sharing approach, the proposed approach is not designed for a specific optimization algorithm. In this way, during the implementation of the proposed approach, heuristic algorithms can be chosen according to the complexity of the target crowd network.

Intelligence level of a crowd network is defined as the expected reward of the network when completing the latest tasks (e.g. last N tasks). The purpose of this paper is to improve the intelligence level of a crowd network by optimizing the profession distribution of the crowd network.

Based on the concept of information entropy, this paper introduces the concept of business entropy and puts forward several factors affecting business entropy to analyze the relationship between the intelligence level and the profession distribution of the crowd network. This paper introduced Profession Distribution Deviation and Subject Interaction Pattern as the two factors which affect business entropy. By quantifying and combining the two factors, a Multi-Factor Business Entropy Quantitative (MFBEQ) model is proposed to calculate the business entropy of a crowd network. Finally, the differential evolution model and k-means clustering are applied to crowd intelligence network, and the species distribution of intelligent subjects is found, so as to achieve quantitative analysis of business entropy.

By establishing the MFBEQ model, this paper found that when the profession distribution of a crowd network is deviate less to the expected distribution, the intelligence level of a crowd network will be higher. Moreover, when subjects within the crowd network interact with each other more actively, the intelligence level of a crowd network becomes higher.

This paper aims to build the MFBEQ model according to factors that are related to business entropy and then uses the model to evaluate the intelligence level of a number of crowd networks.

Forecasts of commodity prices are vital issues to market participants and policy makers. Those of corn are of no exception, considering its strategic importance. In the present study, the authors assess the forecast problem for the weekly wholesale price index of yellow corn in China during January 1, 2010–January 10, 2020 period.

The authors employ the nonlinear auto-regressive neural network as the forecast tool and evaluate forecast performance of different model settings over algorithms, delays, hidden neurons and data splitting ratios in arriving at the final model.

The final model is relatively simple and leads to accurate and stable results. Particularly, it generates relative root mean square errors of 1.05%, 1.08% and 1.03% for training, validation and testing, respectively.

Through the analysis, the study shows usefulness of the neural network technique for commodity price forecasts. The results might serve as technical forecasts on a standalone basis or be combined with other fundamental forecasts for perspectives of price trends and corresponding policy analysis.

The Chinese fund market has witnessed significant developments in recent years. However, although there has been a range of studies assessing fund performance in developed industries, the rapidly developing fund industry in China has received very little attention. This study aims to examine the performance of open-end securities investment funds investing in Chinese domestic equity during the period May 2003 to September 2020. Specifically, applying a non-parametric bootstrap methodology from the literature on fund performance, the authors investigate the role of skill versus luck in this rapidly evolving investment funds industry.

This study evaluates the performance of Chinese equity securities investment funds from 2003–2020 using a bootstrap methodology to distinguish skill from luck in performance. The authors consider unconditional and conditional performance models.

The bootstrap methodology incorporates non-normality in the idiosyncratic risk of fund returns, which is a major drawback in “conventional” performance statistics. The evidence does not support the existence of “genuine” skilled fund managers. In addition, it indicates that poor performance is mainly attributable to bad stock picking skills.

The authors find that the top-ranked funds with positive abnormal performance are attributed to “good luck” not “good skill” while the negative abnormal performance of bottom funds is mainly due to “bad skill.” Therefore, sensible advice for most Chinese equity investors would be against trying to “pick winners funds” among Chinese securities investment funds but it would be recommended to avoid holding “losers.” At the present time, investors should consider other types of funds, such as index/tracker funds with lower transactions. In addition, less risk-averse investors may consider Chinese hedge funds [Zhao (2012)] or exchange-traded fund [Han (2012)].

The paper makes several contributions to the literature. First, the authors examine a wide range (over 50) of risk-adjusted performance models, which account for both unconditional and conditional risk factors. The authors also control for the profitability and investment risks in Fama and French (2015). Second, the authors select the “best-fit” model across all risk-adjusted models examined and a single “best-fit” model from each of the three classes. Therefore, the bootstrap analysis, which is mainly based on the selected best-fit models, is more precise and robust. Third, the authors reduce the possibility that findings may be sample-period specific or may be a survivor (upward) biased. Fourth, the authors consider further analysis based on sub-periods and compare fund performance in different market conditions to provide more implications to investors and practitioners. Fifth, the authors carry out extensive robustness checks and show that the findings are robust in relation to different minimum fund histories and serial correlation and heteroscedasticity adjustments. Sixth, the authors use higher frequency weekly data to improve statistical estimation.

With the yearly increase of mileage and passenger volume in China's high-speed railway, the problems of traditional paper railway tickets have become increasingly prominent, including complexity of business handling process, low efficiency of ticket inspection and high cost of usage and management. This paper aims to make extensive references to successful experiences of electronic ticket applications both domestically and internationally. The research on key technologies and system implementation of railway electronic ticket with Chinese characteristics has been carried out.

Research in key technologies is conducted including synchronization technique in distributed heterogeneous database system, the grid-oriented passenger service record (PSR) data storage model, efficient access to massive PSR data under high concurrency condition, the linkage between face recognition service platforms and various terminals in large scenarios, and two-factor authentication of the e-ticket identification code based on the key and the user identity information. Focusing on the key technologies and architecture the of existing ticketing system, multiple service resources are expanded and developed such as electronic ticket clusters, PSR clusters, face recognition clusters and electronic ticket identification code clusters.

The proportion of paper ticket printed has dropped to 20%, saving more than 2 billion tickets annually since the launch of the application of E-ticketing nationwide. The average time for passengers to pass through the automatic ticket gates has decreased from 3 seconds to 1.3 seconds, significantly improving the efficiency of passenger transport organization. Meanwhile, problems of paper ticket counterfeiting, reselling and loss have been generally eliminated.

E-ticketing has laid a technical foundation for the further development of railway passenger transport services in the direction of digitalization and intelligence.