As one of the key sectors for the future, the chip industry is of vital importance to China's rise as a technological powerhouse. This study reveals three major challenges faced by talent in the chip industry: insufficient supply and reserves, room for improvement in per capita output efficiency, and the need to integrate talent cultivation. To more effectively leverage emerging productive forces and promote the rise of talent in the chip industry, we should facilitate educational transformation and the integration of science education, thereby achieving a qualitative leap in the national strategy for talent development in the new era.

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Urban agglomerations play a pivotal role in China's carbon peaking and carbon neutrality goals, yet few studies have provided a unified, long-term assessment of their carbon emission performance. This paper addresses this gap by analyzing panel data (2006–2022) from 16 national-level urban agglomerations. Utilizing a Non-Radial Directional Distance Function (NDDF) to calculate the Carbon Reduction Efficiency Index (CREI) and a Global Malmquist-Luenberger (GML) index to measure Total Factor Carbon Emission Productivity (TFCEP), we reveal considerable disparities across regions. Eastern "optimization-enhancing" agglomerations (e.g., Pearl River Delta, Yangtze River Delta) demonstrate consistently high efficiency, sustained by stable technological advances. In contrast, central and western "growth-enhancing" and "development-nurturing" agglomerations (e.g., the Ningxia region along the Yellow River, Central Shanxi) exhibit lower performance but significant potential for improvement. Dynamic analysis indicates an overall upward trend, largely driven by technology gains in advanced regions and efficiency catch-up in less developed ones, despite challenges such as technological lock-in. Dagum's Gini coefficient shows narrowing gaps under coordinated the carbon peaking and the carbon neutrality goals policies, although institutional barriers still restrict cross-regional technology diffusion. These findings underscore the need for region-specific low-carbon strategies that integrate industrial upgrading and innovation support, thereby promoting balanced and sustainable urban development trajectories.

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Social media's rise has intensified investor sentiment in financial markets, driving heightened stock price volatility and crash risk. In this context, exploring how internal control quality mediates sentiment and crash risk is vital for developing governance tools to stabilize markets in the digital age. This study investigates the relationship between investor sentiment, internal control quality, and stock price crash risk using a sample of Chinese A-share listed companies from 2007 to 2022. Leveraging financial data and a robust empirical framework, the study finds that higher investor sentiment significantly exacerbates stock price crash risk, particularly in firms with internal control deficiencies and state-owned enterprises (SOEs). Mediation analysis reveals that investor sentiment deteriorates internal control quality, amplifying crash risk and underscoring the critical role of governance mechanisms in mitigating market instability.

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Against the backdrop of rapid advancements in modern information technology, digital transformation has emerged as a global trend. This process has experienced unprecedented acceleration, particularly under the impact of the COVID-19 pandemic. Such transformation extends beyond technological innovation, encompassing critical aspects of corporate future competitiveness as well as organizational survival and growth within intensely competitive markets. As the global economy gradually recovers from the pandemic, sustaining digital transformation poses a significant challenge for enterprises. Governments worldwide have clearly recognized this imperative and have formulated corresponding strategic plans. Since 2015, China has implemented the "National Big Data Strategy," aiming to leverage big data to drive comprehensive economic growth and empower various industries. The "14th Five-Year Plan and Long-Range Objectives Through 2035," proposed in 2020, further emphasized the importance of accelerating the integration of the digital economy with traditional industries and building internationally competitive digital industrial clusters. Notably, the 2022 Government Work Report mentioned the "digital economy" for the sixth consecutive year, and for the first time, dedicated an entire paragraph to this topic, underscoring the government's heightened focus on its significance. Evidently, with continuous policy support and active participation from all sectors of society, digital transformation is poised to become a crucial driver for enterprises to navigate the future. This study selects Changan Automobile as a case study to analyze the motivations, pathways, and financial performance impacts of digital transformation in the automotive industry. The findings aim to provide insights and references for other enterprises within the sector.

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