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Risk Lovers: Management Fee and Fund Performance
Get PDFWe analyze the relationship between fund management fee rates and the risk-returns characteristics of funds to infer retail investors' risk preferences. Using data on open-end equity funds in China, we document a positive relationship between the fund management fee rate and the fund risk. This relationship cannot be explained by the return of those funds with high risks, since we find that funds with higher management fee rates normally have lower returns. We argue this is because of the mental accounting of households, and they become risk-loving when making fund investment decisions. They prefer funds with higher risk, and demand from them pushes up the management fee rate. Our results do not contradict existing findings since households could be risk-averse overall and risk-loving for certain investments
From Formalism Rectification to Governance Modernization: The Chinese Logic and Practical Enlightenment of Grassroots Burden Reduction
Get PDFAs the “nerve endings” of national governance, grassroots governance efficiency is directly related to the implementation of national policies and the improvement of people’s well-being. Around 2012, grassroots areas in China generally faced prominent problems such as rampant formalism, imbalance between power and responsibility, and excessive tasks, which seriously restricted governance vitality and service quality. Focusing on the institutional practice of grassroots burden reduction, this paper conducts an analysis from five dimensions: realistic origin, institutional construction, practical forms, governance effectiveness, and optimization paths. By combing the evolutionary process of grassroots burden reduction from policy advocacy to institutional standardization, and combining typical cases from the eastern, central and western regions, this paper reveals the practical value of grassroots burden reduction in addressing formalism, clarifying the boundary between power and responsibility, and empowering grassroots governance. It also analyzes the existing challenges such as policy non-implementation and rebound risks, providing theoretical reference and practical enlightenment for continuously deepening grassroots burden reduction and improving governance efficiency
Racing Car Design Based on Stabilizer Wings
Get PDFWe know that Formula 1 is the most common vehicle to use stabilizers. Therefore, we designed a Formula 1 race car with controllable front and rear wings. Through 3D modeling and partial aerodynamic analysis, the design consisted of the chassis, hull, and stabilizers. The design was 3D printed using ABS plastic. The controllable stabilizers demonstrate the importance of stabilizers in racing. Stabilizers are not just for racing; they can also be widely used in everyday life, improving driver safety
Material Evidence of the Heji (Harmonious Integration) Policy: Integration Mechanism between the Silk Threaded Jade Burial Suit and the Jade Burial System in the Tomb of King Zhao Mo of Nanyue
Get PDFDuring the transition from the Qin to the Han dynasty, Zhao Tuo established the Nanyue Kingdom in the Lingnan region and implemented the highly innovative Heji (Harmonious Integration) policy, which provided a stable political foundation for the deep integration of Central Plains and Baiyue cultures.This paper focuses on the jade artifacts unearthed from the tomb of the Nanyue king, especially the most representative silk‑threaded jade burial suit, with the aim of deciphering the cultural codes of integration embedded in these material remains. It argues that the Nanyue jade burial system was not a simple imitation of Central Plains ritual institutions, but rather a bidirectional interaction of “inheritance” and “adaptation” carried out under the framework of the Heji (Harmonious Integration) policy.Specifically, the silk‑threaded jade burial suit strictly follows the burial‑jade conventions of the Central Plains in both form and structure, thereby signifying its alignment with political orthodoxy. In contrast, its material composition, decorative motifs, and combined functions display distinct Baiyue characteristics, highlighting the agency of local culture. Employing a research methodology that combines micro‑level case study with macro‑level analysis, this paper shows that the silk‑threaded jade suit and the jade burial system it represents function not only as the material embodiment of the successfully implemented Heji (Harmonious Integration) policy but also reveal the resilient wisdom and practical pathways that underlie the emergence of the early Chinese civilization’s pattern of pluralistic unity
A Study on the English Translations of Culture-loaded Words in Qing Pingdiao
Get PDFThis paper examines the English translation strategies of culturally loaded terms in Qing Pingdiao, a group of poems by Tang Dynasty poet Li Bai. Qing Pingdiao embodies distinct cultural uniqueness, presenting challenges in conveying imagery, explaining background information, and reproducing rhythmic beauty in translation. The paper compares the translation approaches of Xu Yuanchong and Zhao Yanchun, revealing that Xu adopts a foreignization strategy, emphasizing the preservation of the original poem's cultural essence and seeking "form-spirit equivalence," while Zhao employs a domestication strategy, prioritizing cross-cultural poetic resonance and constructing universal aesthetic experiences. These differing strategies highlight the influence of translator subjectivity, suggesting that a diverse range of strategies is essential for the elevation of Chinese poetry from "cultural export" to "civilizational dialogue.
A Comparative Dependency Analysis of Human Translation and Machine Translation: A Case Study of English translation of To Live
Get PDFRecent advances in neural machine translation have significantly improved translation quality, yet its ability to handle syntactic complexity in literary texts remains underexplored. This study examines syntactic differences between human and machine translations of a Chinese literary text from the perspective of mean dependency distance. Drawing on one human translation and four machine-generated translations, the analysis compares dependency distance patterns and investigates how sentence length relates to differences across translations. The findings indicate that although both human and machine translations show a general tendency toward syntactic simplification, notable divergences persist between human and machine output. These divergences are unevenly distributed and are closely associated with sentence length, especially in longer sentences. The study suggests that sentence-level restructuring constitutes a key distinction between human and machine literary translation and remains a challenge for current machine translation systems
Research on the Reform and Practice of the “Bridge Engineering” Course in the Digital and Intelligent Era
Get PDFIn the digital and intelligent era, the traditional “Bridge Engineering” course is confronted with practical dilemmas such as outdated knowledge systems and disconnection between practical teaching and real-world needs. This study integrates cutting-edge technologies like BIM and knowledge graphs, establishes a dedicated WeChat official account platform for the “Bridge Engineering” course, and builds an intelligent construction workshop with virtual-real interaction. Through these efforts, it systematically reorganizes the course content, constructs a digital platform, and implements industry-education integration practices. By adopting the three-stage progressive teaching model of “Exploring Bridges-Investigating Bridges-Creating Bridges”, a trinity course system of “Culture-Technology-Innovation” is built. Ultimately, an engaging course centered on the core concept of “Discovering Your Beauty Through Bridges” is realized
Research on the Balance between the Procedural Justice and the Enforcement Efficiency of the Prior Disposal of the Fishery Catch in the Fishery Law Enforcement
Get PDFAs a vital pillar of global food security and ecological balance, the sustainable development of marine fisheries directly impacts human habitats and socio-economic stability. Addressing enforcement challenges in fisheries administration—particularly the perishability of seized catches and the volatility of their value—this study examines the preliminary disposition procedure. It identifies systemic issues including fragmented legal frameworks, ambiguous activation criteria, inadequate oversight mechanisms, and weak evidence preservation. Through legal text analysis, case studies, and comparative analysis, the paper proposes legislative integration to clarify procedural roles, refine operational standards, establish monitoring and redress mechanisms, and leverage blockchain technology for transparent disposition and evidence fixation. The research aims to provide theoretical foundations and policy recommendations for standardizing enforcement procedures and enhancing operational efficiency
Legal Issues Concerning the Entity Responsible for Collecting Marine Area Usage Fees
Get PDFThe legal positioning and delineation of responsibilities for the entity collecting marine area usage fees are central to safeguarding national marine resource revenues. Following the implementation of Document No. 19 of the Ministry of Finance [2021], the collection and management duties for marine area usage fees were transferred to tax authorities. However, three major legal issues persist: the separation of collection authority from the right to apply for court-enforced execution; a disconnect in the legal standing between regulatory norms and policy documents; and inconsistent adjudication standards in judicial review. Through analysis of typical cases and legislative empirical evidence, this study proposes three key countermeasures: establishing a “unified authority + collaborative empowerment” mechanism; improving the “legislative revision + policy coordination” system; and creating a “unified rules + judicial coordination + grassroots enforcement + legal oversight” safeguard mechanism. These measures provide a legal basis for refining the collection entity system
A Study on the Overseas Reception and Translation Strategies of Shuang Xuetao’s Works
Get PDFThe challenges of industrial civilization have given rise to a new generation of Northeastern Chinese writers, including Shuang Xuetao, Ban Yu, and Zheng Zhi. While their works inherit the creative traits of the traditional Northeastern literary group, they also introduce fresh elements into the landscape. Among them, Shuang Xuetao stands out as the first of the “New Northeastern Writers” to gain international attention, signaling the group’s gradual emergence on the global literary stage. This paper focuses on Shuang Xuetao and the English translation of his novella Rouge Street, exploring its reception in the United States and the translation strategies employed. By examining data such as book sales, library holdings, and reader reviews following its U.S. publication, the study assesses the work’s overseas impact. Drawing on Lawrence Venuti’s theories of domestication and foreignization, it further analyzes translator Jeremy Tiang’s cultural adaptation choices. Ultimately, this research aims to offer valuable insights for the international dissemination of contemporary Chinese literature and to broaden its pathways to global readership