Issue 1 (September)

Bank deposit is closely related to systemic risks. In addition, considering that resident deposits in China have significant seasonal characteristics, this paper focuses on which component of deposits drives the systemic risk volatility, that is, it can supplement the existing forecast information. We use X-13ARIMA-SEATS to decompose deposit into three subsequences. The research findings show that the forecast effect of subsequence models is better than that of benchmark series. Most importantly, the model with trend component has the best forecast performance.

Speeding up digital development and building "digital China" is an important strategic deployment of the "14th Five-Year Plan" and a concrete measure to promote the high-quality development of China's sports industry and national health. Based on provincial data in China from 2011 to 2019, an empirical model is used to analyze the relationship between digital construction, sports industry development and national health investment. The results show that digitalization is instrumental for sports industry development and the improvement of national health in China. Digitalization has promoted the healthy development of sports industry and national health by increasing the input of public science and technology.

China's carbon emission trading market has been formally established, but few studies have been conducted to analyze the impact of this policy on the regional urbanization level. Therefore, this paper evaluates whether the carbon trading pilot policy can enhance the regional urbanization level in China through the difference-in-differences method and analyzes the mediating role of industrial structure upgrading in this process. The results prove that the carbon trading market policy can accelerate the transformation and upgrading of industrial structure in the region so that it promotes the development of regional urbanization. Moreover, the effects of the policy are concentratedly manifested in the eastern region of China.

In the statistical standard of population aging adopted by the United Nations in 1956, the UN only focused on age, which is no longer a good statistical indicator in the context of deepening global population aging. To some extent, population aging is also the embodiment of social progress. This paper suggests improving the existing statistical standards of population aging to better adapt to the reality of social development.

Information leakage in the stock market has been widely proven. Information disclosure is sometimes uneven, and there is significant information asymmetry between ordinary investors and professional institutional investors. In this paper, Regression Discontinuity design (RDD) model is first employed to analyze the information leakage issues. Based on the daily closing stock prices of 15 capital service listed companies, we analyze the difference between the market reaction time and the disclosure time of two stamp tax policies. We found that the sample policies information may leaked to the market about two days earlier. This paper provides a new method analyzing information leakage.