First, the dilemma of industrial agglomeration from the perspective of spatial economics. Second, the structural distortion of human capital flow. Third, the micro-mechanism of capital misallocation. Fourth, the policy dilemma from the perspective of institutional economics. Fifth, the innovation inhibition explained by behavioral economics. Sixth, the economic ecological imbalance under the theory of complex systems. Seventh, the policy experiment from the perspective of international comparison. Eighth, the institutional reform path of multi-objective equilibrium. Conclusion: First...