From the perspective of structural power in relational networks, this paper explores the impact and mechanism of the international relations network on the global value chain networks. The paper argues that obtaining structural powers in the global economic networks, especially the global value chain networks, has become the core goal of rational national actions after the end of the Cold War; The structural power of the international relations network can enhance a country's structural powers in the global value chain networks by facilitating trade entities and improving national capabilities. The paper conducted empirical analysis and robustness testing on theoretical hypotheses using GDELT databaseand international inputoutput data. The results indicate that there are close connections between international relations network and global value chain networks; The structural power of the international relations network helps to enhance the structural powers of global value chain networks. The study also found that the structural power of international relations network has a positive impact on the global value chain networks by enhancing the central positions of international economic and trade system networks represented by the FTA network. In addition, when deeply integrated into globalization and the trade distance with other countries be shortened, the structural power effect of the international relations network will increase. The conclusion of the paper indicates that in the context of anti-globalization risks and strategic competition among major powers, countries need to go beyond the traditional competition mode that relies on physical power gaps or bilateral asymmetric relationships, and attach great importance to and actively exert structural power in the international relations network and global value chain network.China and other developing countries should focus on optimizing the external environment and enhancing their participations in the international rules making in the process of globalization, in order to effectively respond to possible strategic risks.

    The polarization of the global digital services trade network intensifies economic inequality and heightens the risk of geopolitical conflict. Narrowing the North-South divide to promote the inclusive sharing of digital economy outcomes holds significant practical relevance. Drawing on panel data from 179 countries between 2005 and 2021, this paper uses the Silk Road E-Commerce cooperation as a policy entry point to examine whether institutional openness has facilitated the balanced restructuring of the global digital services trade. The findings indicate that institutional openness reduces the absolute dominance of Northern countries while enhancing the participation capacity of the Global South. Moreover, the core issues of institutional openness embedded in the Silk Road E-Commerce cooperation—including rules, regulations, governance, and standards—have all contributed to a more balanced global digital services trade network. Mechanism analysis shows that institutional openness achieves this restructuring through narrowing the digital technology divide, digital governance divide, and digital regulatory divide. In addition to directly influencing partner countries, institutional openness also generates multilayered network diffusion effects through various channels, including geographical spillovers, peer effects on RTA partners of Silk Road E-Commerce countries, and cascading penetration through broader secondary peer networks. This study highlights the pivotal role of institutional international public goods in reshaping the global digital services trade architecture and provides empirical evidence for building a more coordinated and inclusive global digital trade order that fosters North-South cooperation.

    The degree to which the central bank fulfills its policy objective commitments can change the expectations guiding capability and affect the achievement of policy expected objectives, thereby influencing the effectiveness of monetary policy and the consistency in macroeconomic policy orientation. This paper constructs a semi-structural model that includes a nonlinear endogenous central bank credibility generation mechanism to measure the impact of the central bank's expectations guiding capability on macroeconomic regulation. It explores the impact mechanism of central bank credibility on the effectiveness of monetary policy through dynamic numerical simulation and comparative analysis. Furthermore, it examines the composition factors of central bank credibility in China and its heterogeneous effects under different regulatory objectives using an extended "inflation-output" dual-objective policy framework.

    The study finds that central bank credibility exhibits asymmetry depending on the direction in which policy objectives deviate from their commitments, with greater credibility losses occurring when inflation exceeds the target level. The existence of central bank credibility tends to amplify the amplitude of fluctuations and the inertia of changes in macroeconomic variables, thereby affecting the effectiveness and duration of policies. Moreover, it impacts the central bank's multi-objective dynamic equilibrium and the consistency of macroeconomic policy orientation. The fluctuation of credibility in China are closely related to the fulfillment of inflation target commitments, while the achievement of output targets has a relatively smaller impact on central bank credibility. When the economy is operating smoothly and the level of central bank credibility is high, a central bank credibility mechanism oriented towards a single inflation target should be adopted. Conversely, when the economy is unstable or the level of central bank credibility is low, a central bank credibility mechanism based on multiple targets is preferable. This approach represents a better choice for policymakers to balance social welfare and the consistency of macroeconomic policy orientation in the policy implementation process.

    In the future, it is essential to further enhance the stability and continuity of monetary policy and establish a normalized two-way dynamic communication mechanism to guide market expectations rationally. At the same time, in the process of monetary policy adjustment, the non-linear and asymmetric characteristics of central bank credibility, as well as the differing emphases placed by policymakers and the public on various policy targets, should be fully considered. By optimizing the tradeoffs between social welfare and the consistency of macroeconomic policy orientation, the overall effectiveness and quality of monetary policy implementation can be improved.

     This article combines the World Input Output Database (WIOD) and the Organization for Economic Cooperation and Development (OECD) database to measure global digital service outsourcing from 2000 to 2021 using the FH index. The research results indicate that during this period, global digital service outsourcing has shown a clear trend of change, gradually evolving from being centered around "Britain and the United States" to being centered around "China and the United States". This article further analyzes the impact of regional service trade agreements on digital service outsourcing. Research has found that concluding regional service trade agreements can increase digital service outsourcing by 28.4%. Mechanism analysis shows that regional service trade agreements improve the level of digital service outsourcing by narrowing institutional distance and reducing the cost of digital service trade. Through heterogeneity analysis, this article finds that regional service trade agreements can simultaneously promote digital service outsourcing activities in three sectors: agriculture, industry, and services. In terms of subdividing service trade terms, this article finds that three clauses, most favored nation treatment, natural person mobility, and protection mechanisms, have a significant driving effect on the growth of digital service outsourcing. In addition, this article also conducted various robustness tests to ensure the reliability of the empirical results. This article provides a theoretical basis for a deeper understanding of how regional service trade agreements affect digital service outsourcing, and reveals the important role of service trade in promoting the development of digital service outsourcing. At the same time, the research results of this article also provide useful suggestions for the development of digital service outsourcing in China, and provide theoretical support for China to gain advantages in global digital service outsourcing competition

    The article systematically examines the effects of "wide openness" and "deep openness" of the service market on the value chain upgrading of manufacturing enterprises and its mechanism, and carries out an in-depth binary analysis of the "policy relationship" and "effect relationship" between the two modes of openness. It also carries out an in-depth binary analysis of the "policy relationship" and "effect relationship" between the two modes of liberalization. The empirical tests show that: (1) Both "wide openness" and "deep openness" of the service market play a significant role in promoting the value chain upgrading of manufacturing enterprises, and "wide openness" is about as important as "deep openness" in promoting the value chain upgrading of manufacturing enterprises. The promotion effect is about 4-5 times of the promotion effect of "deep openness", which produces the effect of exchanging "market space" for "industrial development space". (2) The impact of "wide openness" and "deep openness" of the service market on the value chain upgrading of manufacturing enterprises has obvious heterogeneity in the dimensions of enterprise technology absorption capacity, industry co-polymerization level, enterprise management efficiency, enterprise ownership and technology intensity. (3) Both "wide openness" and "deep openness" of the service market promote the value chain upgrading of manufacturing enterprises through the effects of market competition, technological spillover and innovation incentives, but the three effects of "wide openness" are higher than those of "deep openness", and "wide openness" has a significant impact on the value chain upgrading of manufacturing enterprises. However, the three effects of "wide openness" are higher than those of "deep openness", which supports the previous dichotomous logic and empirical findings; (4) The effects of "wide openness" and "deep openness" in promoting the value chain upgrading of manufacturing enterprises show a substitution relationship, and this substitution relationship is stronger in the attributes of productive service industries, which maps out that the root cause of the economic effects of the opening up of the service market mainly stems from the opening up of productive service industries, a key fact that has not yet been paid attention to by academics. The findings of the article provide a theoretical basis and policy reference for the camera choice between "wide openness" and "deep openness" of the service market, and how to utilize the opening of the service market to enhance the value chain of manufacturing enterprises to move up to the higher end.

    In the context of supply-side structural reform and the prevention of financial risks, it is important to understand how macro financial leverage volatility affects enterprise innovation. Such understanding can not only contribute to effective macroeconomic policy design but also play a role in facilitating China's transition toward high-quality economic growth. This paper theoretically elaborates on the effect of macro financial leverage volatility on enterprise innovation from the perspective of "Financing Effect" and "Expectation Effect", and validates it using panel data of A-share listed companies in China from 2007 to 2017.

     This paper reveals several key findings. First, macro financial leverage volatility significantly inhibits enterprise innovation. To be more specific, when macro financial leverage volatility increases, innovation inputs (measured by R&D intensity and R&D scale) and innovation outputs (reflected in patent applications and grants) both exhibit significant declines. This result remains robust after a series of robustness checks and endogeneity tests. Second, the impact of macro financial leverage volatility on enterprise innovation is channeled through "Financing Effect" and "Expectation Effect". When "Financing Effect" comes into play, enterprises with higher financing constraints and greater information asymmetry tend to reduce their R&D intensity more. When "Expectation Effect" is at play, enterprises with lower risk-bearing capacity and risk-averse executives tend to reduce their R&D intensity more. Third, the effect of macro financial leverage volatility on different types of enterprise innovation is heterogeneous. Compared with "Low-risk Innovation", macro financial leverage volatility has a greater negative impact on "High-risk Innovation". In other words, when macro financial leverage volatility increases, the number of patent applications (and patent grants) for invention patents and utility model patents decline significantly, while  for design patents remain largely unaffected. Fourth, an increase in macro financial leverage volatility reduces the efficiency of enterprise innovation. Fifth, the innovation of small and medium-sized enterprises is more sensitive to macro financial leverage volatility.

    Based on the above conclusions, this paper puts forward policy suggestions for the coordination of financial risk prevention and innovation-driven strategy. On the one hand, the government should enhance the dynamic management of macro financial leverage to ensure its fluctuations remain fundamentally stable. In this way, excessive macro financial leverage volatility can be avoided, thereby reducing the negative impact of macro shocks to micro enterprises. This requires the government to implement a prudent and orderly financial leverage regulation strategy, which helps maintain financial stability. On the other hand, the government should adopt flexible and differentiated fiscal support and tax incentives. This will help enterprises, particularly high-tech enterprises, small and medium-sized enterprises, to alleviate the internal and external financing constraints. Under these circumstances, enterprises will have more incentives to innovate, and in turn, support the highquality growth of China's economy.

    Under the increasingly complex and uncertain competitive environment, the integrated interaction between exclusive intellectual property and unified technological standards not only helps enterprises explore the innovative value of intellectual property and technical standards, but also facilitates the construction of new competitive strategies that synergize the characteristics and advantages of both.

    This study begins with literature review to interpret the multiple uncertainty characteristics of external environments and their impacts on Chinese enterprises' internationalization, explores the complementarity and substitutability mechanisms among patents, trademarks, and trade secrets, and clarifies the applicable scopes of different technical standards in competitive strategies. Through multiple-case comparative analysis, it examines the main outcomes and conditions of integrating patents, trademarks, and trade secrets with technical standards, revealing the formation mechanism of intellectual property standardization strategies.

    The research findings demonstrate that: (1) The complementary nature of intellectual property protections (patents and trade secrets) enables enterprises to select appropriate technical standard forms according to diverse market demands; (2) The competitive advantages of intellectual property standardization strategies primarily depend on standardization duration, diffusion breadth, and innovation height, which respectively reflect the persistence, expansibility, and innovativeness of competitive advantages; (3) The strategic objective lies in cultivating synergistic application capabilities between intellectual property and standards to capture added-value; (4) Effective strategy formulation requires leveraging characteristic attributes and interaction mechanisms of different intellectual property types and technical standards, combined with technological innovation advantages, market demand features, and competitive positioning; (5) Three formation patterns emerge - closed, semi-open, and open models, with the open model facilitating the reconstruction of standard innovation ecosystems.
    The research suggests that Chinese high-tech enterprises should emphasize non-patent intellectual properties like trademarks and trade secrets to mitigate weaknesses in overseas patent layout. Meanwhile, they should capitalize on domestic advantages including massive market scale and cost-effective technological capabilities, integrating these late-mover advantages with technical standards (particularly de facto standards) to enhance discourse power and competitiveness in emerging industries' dominant design standard competitions.