Milking the Market

With climate change becoming direr and the WTO losing its teeth at 30,experts renew call for green collaboration among the world’s three largest economies.AS competition intensifies in the global dairy product market,many foreign dairy companies are focusing on China."China is the best market to debut breakthrough products,"said Bruno Chevot,food and beverage multinational Danone China’s president for North Asia and Oceania.

A Dive Into the Asymptotic Analysis Theory:a Short Review from Fluids to Financial Markets

The asymptotic analysis theory is a powerful mathematical tool employed in the study of complex systems.By exploring the behavior of mathematical models in the limit as certain parameters tend toward infinity or zero,the asymptotic analysis facilitates the extraction of simplified limit-equations,revealing fundamental principles governing the original complex dynamics.We will highlight the versatility of asymptotic methods in handling different scenarios,ranging from fuid mechanics to biological systems and economic mechanisms,with a greater focus on the financial markets models.This short overview aims to convey the broad applicability of the asymptotic analysis theory in advancing our comprehension of complex systems,making it an indispensable tool for researchers and practitioners across different disciplines.In particular,such a theory could be applied to reshape intricate financial models(e.g.,stock market volatility models)into more manageable forms,which could be tackled with time-saving numerical implementations.

Analysis of Renewable Energy Absorption and Economic Feasibility in Multi-Energy Complementary Systems under Spot Market Conditions

As the power system transitions to a new green and low-carbon paradigm,the penetration of renewable energy in China’s power system is gradually increasing.However,the variability and uncertainty of renewable energy output limit its profitability in the electricity market and hinder its market-based integration.This paper first constructs a wind-solar-thermalmulti-energy complementary system,analyzes its external game relationships,and develops a bi-level market optimization model.Then,it considers the contribution levels of internal participants to establish a comprehensive internal distribution evaluation index system.Finally,simulation studies using the IEEE 30-bus system demonstrate that the multi-energy complementary system stabilizes nodal outputs,enhances the profitability of market participants,and promotes the market-based integration of renewable energy.

Dual Interval Optimization Based Trading Strategy for ESCO in Day-ahead Market with Bilateral Contracts

Being capable of aggregating multiple energy resources, the energy service company(ESCO) has been regarded as a promising alternative for improving power system flexibility and facilitating the consumption of renewable resources in the electricity market. Considering the uncertain variables in day-ahead(DA) market trading, an ESCO can hardly determine their accurate probability distribution functions. Traditional interval optimization methods are used to process these uncertain variables without specific probability distribution functions.However, the lower and upper bounds of the intervals may change due to extreme weather conditions and other emergent events. Hence, a dual interval optimization based trading strategy(DIOTS) for ESCO in a DA market with bilateral contracts(BCs) is proposed. First, we transfer the dual interval optimization model into a simple model consisting of several interval optimization models. Then, a pessimistic preference ordering method is applied to solve the derived model. Case studies illustrating an actual test system corroborate the validity and the robustness of the proposed model, and also reveal that ECSO is critical in improving power system flexibility and facilitating the ability of absorbing renewable resources.

Resource-specific Orders in European Day-ahead Market Under Different Pricing Rules

This paper addresses two issues that concern the electricity market participants under the European day-ahead market(DAM)framework,namely the feasibility of the attained schedules and the non-confiscation of cleared volumes.To address the first issue,new resource-specific orders,i.e.,thermal orders for thermal generating units,demand response orders for load responsive resources,and energy limited orders for storage resources,are proposed and incorporated in the existing European DAM clearing problem.To address the second issue,two approaches which lead to a non-confiscatory market are analyzed:①discriminatory pricing with side-payments(U.S.paradigm);and②non-discriminatory pricing excluding out-ofmoney orders(European paradigm).A comparison is performed between the two approaches to investigate the most appropriate pricing rule in terms of social welfare,derived revenues for the sellers,and efficiency of the attained results.The proposed model with new resource-specific products is evaluated in a European test system,achieving robust solutions.The feasibility of the attained schedules is demonstrated when using resource-specific orders compared with block orders.Finally,the results indicate the supremacy of discriminatory pricing with side-payments compared with the current European pricing rule.

Hydro-wind Optimal Operation for Joint Bidding in Day-ahead Market: Storage Efficiency and Impact of Wind Forecasting Uncertainty

Wind power production is uncertain.The imbalance between committed and delivered energy in pool markets leads to the increase of system costs,which must be incurred by defaulting producers,thereby decreasing their revenues.To avoid this situation,wind producers can submit their bids together with hydro resources.Then the mismatches between the predicted and supplied wind power can be used by hydro producers,turbining or pumping such differences when convenient.This study formulates the problem of hydro-wind production optimization in operation contexts of pool market.The problem is solved for a simple three-reservoir cascade case to discuss optimization results.The results show a depreciation in optimal revenues from hydro power when wind forecasting is uncertain.The depreciation is caused by an asymmetry in optimal revenues from positive and negative wind power mismatches.The problem of neutralizing the effect of forecasting uncertainty is subsequently formulated and solved for the three-reservoir case.The results are discussed to conclude the impacts of uncertainty on joint bidding in pool market contexts.

Analysis and construction of evaluation index system of inter-provincial electricity spot markets

Because of the contradiction between the scale of new energy installations and the continuous load growth in the central and eastern regions of China,the balance problems of the electricity market are becoming increasingly prominent,and it is urgent to solve such problems through inter-provincial electricity spot markets.First,the development history and construction status of the inter-provincial electricity spot market are summarized;second,the mechanism design of the inter-provincial electricity spot market is sorted out in terms of the market operation framework,transaction declaration,and clearing methods;subsequently,the evaluation index system of the inter-provincial electricity spot market is constructed,including four themes of electricity mutual aid and support,new energy consumption,economic benefits of market-based allocation,and social benefits of market-based allocation;finally,the operation of the inter-provincial electricity spot market is comprehensively analyzed by the algorithm based on the market operation data of 2022,which proves the feasibility and practicality of the proposed index system.

Innovations Not Enough—Yet—to Make Headset Market an Actual Reality

In January 2024,after decades of intermittent improvements in virtual reality(VR)and augmented reality(AR)devices failing to help the technology catch on with the public,tech behemoth Apple(Cupertino,CA,USA)launched its marketing of a headset with by far the highest resolution and sharpest contrast of any commercially available device to date[1].Yet sales of the Vision Pro(Fig.1),Apple’s much anticipated first entry in the VR/AR marketplace,have fallen far short of the company’s already low expectations[2].

A Special Issue:“Electricity Market Technologies for Renewable Energy Development”for Global Energy Interconnection

Electricity market technology plays a crucial role in promoting the development of renewable energy.Accelerating the construction of a unified national power market system improves the adaptability of the power market to a high proportion of renewable energy sources.This will help optimize resource allocation,improve the flexibility and reliability of the power system,and support the consumption and utilization of renewable energy.Electricity market technology has provided strong support and promotion for the development of renewable energy through a number of aspects,such as market-oriented reform,fair participation,pricing mechanism,international cooperation,publicity and guidance,construction of the electricity market system,green power trading,technological progress and policy support.

Impact of Sharing Marketing on Marketing Willingness of Employees in Internet Decoration Industry

With the development of information technology,sharing marketing,as an innovative marketing method,plays an important role in promoting the marketing willingness and enthusiasm of employees in the Internet decoration industry.Based on the data obtained from the ques-tionnaire survey,this paper makes an empirical analysis of the impact of the economic value,social value,perceived ease of use,perceived convenience,enabling conditions and subjective norms of sharing marketing on the marketing willingness of employees in the Internet decoration industry.The results showed that the questionnaire had good internal consistency and construct validity.Through empirical analysis,it can be found that the economic value,social value,perceived ease of use,perceived convenience,enabling conditions and subjective norms of sharing marketing have a significant positive impact on employees'marketing willingness.

Renewable Polymers in Biomedical Applications:From the Bench to the Market

Polymers from renewable resources have been used for a long time in biomedical applications and found an irreplaceable role in some of them.Their uses have been increasing because of their attractive properties,contributing to the improvement of life quality,mainly in drug release systems and in regenerative medicine.Formulations using natural polymer,nano and microscale particles preparation,composites,blends and chemical modification strategies have been used to improve their properties for clinical application.Although many studies have been carried out with these natural polymers,the way to reach the market is long and only very few of them become commercially available.Vegetable cellulose,bacterial cellulose,chitosan,poly(lactic acid)and starch can be found among the most studied polymers for biological applications,some with several derivatives already established in the market,and others with potential for such.In this scenario this work aims to describe the properties and potential of these renewable polymers for biomedical applications,the routes from the bench to the market,and the perspectives for future developments.

Research on decision-making behavior of multi-agent alliance in cross-border electricity market environment: an evolutionary game

Constructing a cross-border power energy system with multiagent power energy as an alliance is important for studying cross-border power-trading markets.This study considers multiple neighboring countries in the form of alliances,introduces neighboring countries’exchange rates into the cross-border multi-agent power-trading market and proposes a method to study each agent’s dynamic decision-making behavior based on evolutionary game theory.To this end,this study uses three national agents as examples,constructs a tripartite evolutionary game model,and analyzes the evolution process of the decision-making behavior of each agent member state under the initial willingness value,cost of payment,and additional revenue of the alliance.This research helps realize cross-border energy operations so that the transaction agent can achieve greater trade profits and provides a theoretical basis for cooperation and stability between multiple agents.

Exploring the impacts of major events on the systemic risk of the international energy market

This study examines the systemic risk caused by major events in the international energy market(IEM)and proposes a management strategy to mitigate it. Using the tail-event driven network(TENET)method, this study constructed a tail-risk spillover network(TRSN) of IEM and simulated the dynamic spillover tail-risk process through the cascading failure mechanism. The study found that renewable energy markets contributed more to systemic risk during the Paris Agreement and the COVID-19pandemic, while fossil energy markets played a larger role during the Russia-Ukraine conflict. This study identifies systemically important markets(SM) and critical tail-risk spillover paths as potential sources of systemic risk. The research confirms that cutting off the IEM risk spillover path can greatly reduce systemic risk and the influence of SM. This study offers insights into the management of systemic risk in IEM and provides policy recommendations to reduce the impact of shock events.

Activity Data and Emission Factor for Forestry and Other Land Use Change Subsector to Enhance Carbon Market Policy and Action in Malawi

Activity data and emission factors are critical for estimating greenhouse gas emissions and devising effective climate change mitigation strategies. This study developed the activity data and emission factor in the Forestry and Other Land Use Change (FOLU) subsector in Malawi. The results indicate that “forestland to cropland,” and “wetland to cropland,” were the major land use changes from the year 2000 to the year 2022. The forestland steadily declined at a rate of 13,591 ha (0.5%) per annum. Similarly, grassland declined at the rate of 1651 ha (0.5%) per annum. On the other hand, cropland, wetland, and settlements steadily increased at the rate of 8228 ha (0.14%);5257 ha (0.17%);and 1941 ha (8.1%) per annum, respectively. Furthermore, the results indicate that the “grassland to forestland” changes were higher than the “forestland to grassland” changes, suggesting that forest regrowth was occurring. On the emission factor, the results interestingly indicate that there was a significant increase in carbon sequestration in the FOLU subsector from the year 2011 to 2022. Carbon sequestration increased annually by 13.66 ± 0.17 tCO2 e/ha/yr (4.6%), with an uncertainty of 2.44%. Therefore, it can be concluded that there is potential for a Carbon market in Malawi.

Analyzing the Wind-Dominant Electricity Market under Coexistence of Regulated and Deregulated Power Trading

Currently,both regulated and deregulated power trading exist in China’s power system,which has caused imbalanced funds in the electricity market.In this paper,a simulation analysis of the electricity market with wind energy resources is conducted,and the calculation methods of unbalanced funds are investigated systematically.In detail,the calculation formulas of unbalanced funds are illustrated based on their definition,and a two-track electricity market clearing model is established.Firstly,the concept of the dual-track system is explained,and the specific calculation formulas of various types of unbalanced funds are provided.Next,considering the renewable energy consumption,the market clearing model based on DC power flow is constructed and solved;by combining fitting methods of mid-and long-term curves,the unbalanced funds are calculated based on clearing results and formulas.

Impact of the carbon market on investment benefits of power-grid enterprises in China: a system dynamics analysis

The power grid,as the hub connecting the power supply and consumption sides,plays an important role in achieving carbon neutrality in China.In emerging carbon markets,assessing the investment benefits of power-grid enterprises is essential.Thus,studying the impact of the carbon market on the investment and operation of powergrid enterprises is key to ensuring their efficient operation.Notably,few studies have examined the interaction between the carbon and electricity markets using system dynamics models,highlighting a research gap in this area.This study investigates the impact of the carbon market on the investment of power-grid enterprises using a novel evaluation system based on a system dynamics model that considers carbon-emissions from an established carbon-emission accounting model.First,an index system for benefit evaluation was constructed from six aspects:financing ability,economic benefit,reliability,social responsibility,user satisfaction,and carbon-emissions.A system dynamics model was then developed to reflect the causal feedback relationship between the impact of the carbon market on the investment and operation of power-grid enterprises.The simulation results of a provincial power-grid enterprise analyze comprehensive investment evaluation benefits over a 10-year period and the impact of carbon emissions on the investment and operation of power-grid enterprises.This study provides guidelines for the benign development of power-grid enterprises within the context of the carbon market.

Understanding the Dynamics of China’s Import Market in 2024

As a key player in global trade and innovation,China continues to adapt to changing circumstances,leveraging both domestic strengths and international partnerships to maintain steady growth.In particular,China’s import market stands out as a significant barometer of its economic resilience.Despite transformations in global trade dynamics,the enduring demand for a wide array of products spanning from cutting-edge technologies to sustainable goods underscores the adaptability of both Chinese consumers and enterprises,highlighting the expansive growth prospects within the nation’s trade landscape.As we look ahead to 2025,China’s import patterns offer important insights into its economic priorities and the forthcoming evolution of global trade.

With Growth in Birth Population,Maternity and Children's Market Picks Up

In recent years,China's birth population has continued to decline,causing concern from all walks of life.However,data for the first half of2024 show a slight recovery in the number of births in some regions,a phenomenon that has brought new vitality to the maternity and children's market.Although this rise may be a short-term"spring",it has injected hope into related industries.

The "Black Myth" Marks a New Milestone for China-Made Games in Overseas Market

Since its first launch on August 20th,the game"Black Myth:Wukong"has broken many previous records for domestic single-player games,and also provides a chance for global game players to see Chinese games as among the world's best games.The number of online users on the entire platform exceeded3 million at its most,and more than10 million copies of the games were sold within the first four days after the launch.It has received more than 270thousand reviews in total and 96%positive reviews on the Steam platform,providing a chance for global game players to enjoy the best of Chinese games。

China Intensifies Monetary Policy Adjustments and Boosts Market Confidence

On September 27,the People's Bank of China (hereinafter referred to as the"central bank") announced that,from September 27,2024,the RRR (required reserve ratio)of financial institutions would be lowered by 0.5 percentage points (excluding those that are subject to an RRR of 5%).The weighted average required reserve ratio for financial institutions is about 6.6% after this cut.At the same time,the central bank also announced that from September27,the interest rate for 7-day reverse repo operations in the open market will be adjusted from1.70%to 1.50%.