美国对华5G科技竞争策略与对策研究——基于“大战略”理论视角

5G是引领未来的战略性技术，是实现产业升级的重要基础设施，也是中美科技竞争的关键领域。梳理美国对华5G科技竞争策略对于提升我国5G治理能力、创造竞争优势具有重要意义。运用“大战略”理论，从目标、手段、威胁、效益4个层面对美国5G策略进行分析，指出美国5G策略体现了维护国家安全和国际领导地位的目标，通过成立专职机构、加大科研投入、培养通信人才、提升频谱和基建能力等手段促进本国5G发展，并运用出口管制、外资审查、限制投资、外交结盟等方式对中国进行打压和防范。中美5G竞争日益激烈且存在彼此封闭、割裂的风险，国际关系将成为影响竞争态势的关键因素。中国应坚定战略目标，优化战略手段，应对挑战并把握机遇，积极推动中国5G健康发展。     

Intraday return predictability in the cryptocurrency markets: Momentum,reversal, or both

This paper reports evidence of intraday return predictability, consisting of both intraday momentum and reversal, in the cryptocurrency market. Using high-frequency price data on Bitcoin from March 3, 2013, to May 31, 2020, it shows that the patterns of intraday return predictability change in the presence of large intraday price jumps, FOMC announcement release, liquidity levels, and the outbreak of the COVID-19. Intraday return predictability is also found in other actively traded cryptocurrencies such as Ethereum, Litecoin, and Ripple. Further analysis shows that the timing strategy based on the intraday predictors produces higher economic value than the benchmark strategy such as the always-long or the buy-and-hold. Evidence of intraday momentum can be explained in light of the theory of late-informed investors, whereas evidence of intraday reversal, which is unique to the cryptocurrency market, can be related to investors’ overreaction to non-fundamental information and overconfidence bias.     

全球5G频谱研究概述及启迪

第五代移动通信系统（5G）已成为全球信息通信技术的重点发展方向，受到政府和行业的广泛关注。首先，对国际电信联盟无线电通信部门（ITU-R）建议书中发布的5G愿景进行了概述和分析，指出5G系统将使用高中低全频段；然后，总结了全球主要国家和地区关于5G频率政策的最新动向，分析了其高中低频段候选频率的当前使用情况和未来可用性，并指出了我国对相关频段的策略和考虑；最后，基于我国无线电管理政策及面临的形势，结合5G系统特性，提出了对于5G频率研究工作的思考和建议。     

A deep dive into the birth process of linking 6G and the UN SDGs

United Nations Sustainable Development Goals (UN SDGs) are becoming an increasingly important theme for researchers in multiple fields to investigate. In this paper, we look at how a group of 40 experts from academia and the mobile communications industry identified ways in which future 6th generation (6G) mobile communications is linked with the UN SDGs while writing a white paper on the topic. In this paper, building on the methodology of critical participatory action research, we look into the detailed operations of the expert group, offer a new way to look at the 6G development process guided by the UN SDGs and describe the linking process for the UN SDGs and 6G in a way that may guide other researchers in similar endeavors. We also present initial outcomes of the linking process that led to the white paper published in 2020 (Matinmikko-Blue et al., 2020). The aim of this research is to identify and formulate a process to recognise the connection between UN SDGs and 6G.     

基于货车的5T信息融合系统技术方案设计

现有的5T系统存在着货车部件的各类故障实时监测的关联性弱、信息共享性差、集中监控性不及时的问题,本系统方案通过采集5T系统数据,以货车车辆为管理对象,以货车车号为唯一关联标识,融合5T信息资源,建立货车车辆安全监测信息的全局视图,能实现5T信息系统的有效融合,相关信息的关联,5T信息融合的实时推送,以及5T信息融合的综合查询和统计分析等功能。对提高安全预警水平和故障分析能力等具有重要意义。     

The advent of 5G and the non-discrimination principle

5G promises to be a game changer for the extended connectivity-based value chain, encompassing a much broader set of digitalized industries than previous solutions. By reshaping competition among market players and among technologies, it changes the trade-offs underlying the application of the non-discrimination principle. In this paper, we provide a unified view of the implications of these technological developments for four instantiations of this principle that span the entire digital value chain: non-discrimination in FRAND licensing of standard-essential patents (SEPs), vertical separation remedies, network neutrality and technological neutrality. We conclude that overly rigid and non-technology neutral interpretations of the non-discrimination requirement would be at odds with technological evolution and would be incompatible with the objective to maximize the overall value of digital networks.     

The 5G spectrum auction in Chile

In 2021, the Chilean government implemented a first-price package auction to allocate electromagnetic spectrum for 5G mobile services. The auction was run sequentially for different spectrum bands, allowing firms to exploit band complementarities. It was a combinatorial auction, so firms could bid for any combination of blocks within a band. It contemplated spectrum caps – upper limits on the spectrum for each firm – to ensure competitiveness. The beauty contests used in previous processes became obsolete, as there was a need to promote competitiveness and transparency in the telecommunication sector. Four incumbents and one potential entrant participated in the auction. The auction raised more than USD $450 million, which was six times more than the sum of the revenues of all previous contests in the country. We discuss this experience and show how different aspects of the context justified our design choices.     

基于文献计量和颠覆性潜力测度的颠覆性技术识别研究——以5G技术为例

颠覆性技术的识别对国家、产业和企业抓住战略发展机遇、形成创新竞争力具有重要意义。提出一种主客观、定性定量相结合的颠覆性技术识别框架,并以移动通信领域第5代移动通信技术（5G）为例进行实证。首先借助CiteSpace软件进行文献的可视化分析,梳理发现前沿技术研究热点。其次根据颠覆性技术的演化特征,从技术新颖性、融合性、突破性以及技术市场潜力4个维度构建技术颠覆性潜力测度指标,借助专利数据测度其颠覆性变革的潜力,并与同领域成熟度相对较高的技术进行对比,识别前沿技术的颠覆性潜力。结果表明,5G技术在移动通信领域具有较大的颠覆性潜力,验证了研究框架的科学性,为颠覆性技术的预测与识别提供了一种新思路。     

The role of mobile network operators in next-generation public safety services

Field of researchThis research is in the field of public safety communications in mobile broadband 4G/5G networks. The focus is on mobile network operators and their business opportunities in the public safety market.PurposeThe purpose of this research is to provide a review of ongoing public safety mobile broadband projects in which mobile operators play a key role. In addition, a business model analysis is presented to determine the role of mobile operators in these projects. A comparison of the two key business models is also included to reveal their general characteristics.Methods and dataThe research used a qualitative method, an inductive case study. This method was used to draw general conclusions from a small number of case studies based on ongoing public safety mobile broadband projects. The Casadesus-Masanell and Ricart framework and the business model canvas were used to analyse and compare the two key business models discussed. Data were collected from a variety of sources, including company reports, press releases, international events and conferences, and selected interviews with managers in charge.FindingsThe results show that mobile operators have new business opportunities in the public safety market. Their existing mobile networks can be used for public safety services with certain enhancements. Within existing projects, mobile operators have different business models. The two analysed models were found to require different resources and offer different business opportunities for mobile operators. Procurement authorities responsible for selecting business models are encouraged to pay attention to the choice of model based on, for example, strategic objectives.ValueVery little research has been done on the business opportunities of mobile operators in the public safety market. In this area, this study lays the groundwork for new research. Procurement authorities can use the results when deciding on the business model. Mobile operators can benefit from these results by better understanding their own roles in public safety projects and when assessing the business opportunities of a particular project.     

Debt maturity and firm productivity—The role of intangibles

Does the maturity of debt matter for productivity? Using data on Italian firms from 1997 to 2015, we study the relationship among debt maturity, productivity, and firm characteristics. We find that productivity is positively associated with short-term debt and negatively associated with long-term debt. This result supports the hypothesis that the less intense monitoring of firm performance and fewer liquidation fears stemming from the long maturity of debt causes a moral hazard, while short-term debt serves as a disciplinary device to improve firm performance in the short run. This effect is evident in small- and medium-sized enterprises and old firms. In contrast, large firms can utilize long-term financing to improve productivity through long-term investments. Firms improve productivity by purchasing intangible assets financed by short-term debt.