Based on the inner-effect mechanism of transport infrastructure and regional economic growth, this paper builds a specialized spatial weight matrix by utilizing the panel data from 31 provinces in New Silk Road Economic Belt (NSREB) and other areas from 2005 to 2014, and combines with the spatial panel model to analyze the spatial spillover effects of transport infrastructure. According to the analysis, the transport infrastructure plays an obvious lead role in regional economy growth alongside the NSREB, and the economic growth invigorates common development in surrounding regions. In addition, differences were observed among the different transport infrastructure with regard to their influences on regional economic development, as the highway transport affects regional economic growth to a larger degree than railway transport.

Purpose: The purpose of this paper is to empirically investigate the relationship between government subsidies and research and development (R&D) investment of animal husbandry companies in China. The moderating effects of firm size, debt ratio, and firm profitability on this relationship are also examined. Research design, data and methodology: The analysis is based on 14 animal husbandry companies listed on the Shanghai and Shenzhen stock exchanges over the period of 2012-2016. Data are obtained from the China Stock Market & Accounting Research (CSMAR) database and the RESSET database, and multiple regression analysis is utilized with the aid of Stata. Results: The empirical results show that government subsidies can promote R&D investment of animal husbandry companies in China. In addition, firm size, debt ratio, and firm profitability have positive moderating effects on the relationship between government subsidies and R&D investment. Conclusions: Based on the results, the paper concludes that government subsidies play an important role in the process of R&D of China’s animal husbandry companies. This paper recommends that managers of animal husbandry companies should enhance the utilization efficiency of government subsidies and put great emphasis on R&D investment. The policymakers should implement more incentives to encourage animal husbandry companies to invest more in R&D.