How to improve energy efficiency is a practical issue of common concern around the world. In China, vertical fiscal imbalances (VFIs) generated under the existing fiscal system may have a significant impact on energy efficiency through government spending on science and technology (S&T). However, this potential relationship has not been explored in the literature. In this work, we aim to address this gap. Using Chinese provincial panel data from 2001 to 2017, this study empirically examines the relationship between VFIs and energy efficiency through a mediation model. The results show that VFIs greatly suppress energy efficiency. We further find that VFIs indirectly affect energy efficiency by reducing government spending on S&T. The results show significant regional heterogeneity. The intermediary role of government S&T expenditure is more significant in inland areas than in coastal areas. Therefore, to improve energy efficiency and achieve sustainable development, the Chinese government should focus on innovative reform of the existing fiscal system and reduce VFIs. In addition, the government should focus on fiscal spending in the field of S&T to promote technological innovation to guarantee the improvement of energy efficiency. Inland areas should pay particular attention to this issue.

Climate warming caused by greenhouse gases is an important practical issue. This study aims to explore the impact of the vertical fiscal imbalance (VFI) on CO2 emissions from the perspective of theoretical analysis and empirical research. This study uses panel data from 30 provinces in China from 2004 to 2018 in order to test this issue. The results show that the VFI has a significant positive impact on CO2 emissions and that the capital misallocation exacerbates the positive impact of the VFI on CO2 emissions. These study results also have a significant temporal heterogeneity. The sample results dating after 2008 were more significant. These conclusions provide economic and political references for local governments in order to develop CO2 neutrality and CO2 peaking policy goals and to promote an in-depth reform of the fiscal system.

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Aging is an important trend in the global demographic, with rural population aging becoming a significant challenge due to its faster pace and profound implications. Although the most significant impact of the aging agricultural labor force occurs in agricultural production and land use, little is known about their relationship. Based on the 2010–2018 data from the Chinese Family Panel Studies, this study uses the panel probit model to analyze the impact of the aging agricultural labor force on land transfer and tests its influence mechanism from the aspects of health effect and pension insurance effect. The results show the following: (1) there is an inverted U-shaped relationship between the aging of the agricultural labor force and land rent-in—with the deepening of the aging of the agricultural labor force, the aging of the agricultural labor force shifts from promoting land rent-in to inhibiting it; (2) there is a U-shaped relationship between the aging of the agricultural labor force and land rent-out—with the deepening of the aging of the agricultural labor force, the aging of the agricultural labor force shifts from inhibiting land rent-out to promoting it; and (3) the impact of the aging agricultural labor force on land rent-in and rent-out is significantly affected by farmers’ health levels, however pension insurance does not play a significant moderating role. Therefore, the government should strengthen the land transfer market and improve the level of pension insurance for the elderly rural agricultural labor force.