Exploring the Relationship Between Patent Forward Citation and Stock Return Rate Using Empirical Data of China Stock Market

A novel indicator called price-citation was proposed.Based on the company integrated patent database of China listed companies of common stocks(A-shares)with the stock price and the stock return rate data,more than two thousand of A-shares from 2017 to 2020 were selected.The effect of the traditional patent forward citation and the price-citation for discriminating the stock return rate was thoroughly analyzed via ANOVA.The A-shares of forward citation counts above the average showed higher stock return rate means than the A-shares having patents but receiving no forward citations.The price-citation,combining both the financial and patent attributes,defined as the multiplication of the current stock price and the currently receiving forward citation count,showed its excellence in discriminating the stock return rate.The A-shares of higher price-citation showed significantly higher stock return rate means while the A-shares of lower price-citation showed significantly lowest stock return rate means.The price-citation effect had not been changed by COVID-19 though COVID-19 affected the social and economic environment to a considerable extent in 2020.

Supply-Side Structural Reforms and China's Potential Economic Growth Rate

This paper examines the effect of supply-side structural reforms on China＇s potential economic growth rate in the coming decade according to the data the authors have gathered. Under the rapid growth scenario with the implementation of supply-side structural reforms, China＇s potential economic growth rate will reach an average of 6.5% and 5.8% respectively in the 13th Five-year Plan （2016-2020） and 14th Five-year Plan （2021-2025） periods. These rates are 0.2 and 0.3 percentage points higher, respectively, than that under the baseline scenario with the inertia of historic trends. In implementing supply-side structural reforms, China must transform governmental functions, break monopolies, create a comprehensive competitive market environment, foster the creation of pro-innovation mechanisms, refocus on quality and efficiency, and raise capital utilization and labor productivity.

Analyzing and Appraising Country Risks What we should know when talking about China Textile's Going abroad Strategy

The new millennium has witnessed the stunning growth of Chinese textile industry, China has become the largest textile producer and textile exporter in the world. With exports of Chinese textile products outnumbered those of all the other nations, various forms of trade frictions against Chinese textile products have arisen.

Overview of the Tourism Land Use Researches in China and Abroad

Both domestic and overseas researches in tourism land use have been analyzed,summarized and commented in detail,and the research characteristics have been compared respectively.

Response of grain yield to plant density and nitrogen rate in spring maize hybrids released from 1970 to 2010 in Northeast China

The objective of this study was to identify the response of grain yield to plant density and nitrogen rate in spring maize hybrids released from 1970 to 2010 and grown extensively in Northeast China.Twenty-one hybrids were grown for 2 years in Northeast China at densities of 30,000,52,500,75,000,and 97,500 plants ha^(-1)and N application levels of 0,150,300,and 450 kg N ha^(-1).Irrespective of density or nitrogen application rate,grain yields both per plant and per unit area were significantly higher for newer than older hybrids.As plant density increased from 30,000 to 97,500 plant ha^(-1),yield per plant of 1970 s,1980 s,1990 s,and 2000 s hybrids decreased by 50%,45%,46%,and 52%,respectively.The response of grain yield per unit area to plant density was curvilinear.The estimated optimum plant densities were about 58,000,49,000,65,000,and 65,000 plants ha^(-1)for hybrids released in the 1970 s,1980s,1990 s,and 2000 s,respectively.The theoretical optimum densities for the hybrids released from the 1970 s to the 2000 s increased by 1750 plants ha^(-1)decade^(-1).Nitrogen fertilization significantly increased grain yields per plant and per unit area for all hybrids.The theoretical optimum N application rates for high yield for hybrids released in the 1970 s and 1980 s were about 280 and 360 kg ha^(-1),and the hybrids from the 1990 s and 2000 s showed highest yield at 330 kg ha^(-1)N.No significant difference in the grain yields of 2000 s hybrids between the N levels of 150 to 450 kg ha^(-1)was found.Significant yield gains per plant and per unit area were found,with average increases of 17.9 g plant^(-1)decade^(-1)and936 kg ha^(-1)decade^(-1)over the period 1970–2010,respectively.Yield gains were attributed mainly to increased yield per plant,contributed by increases in kernel number per ear and1000-kernel weight.The rates of lodging and barren plants of newer hybrids were significantly lower than those of older ones,especially at high plant density.

Geographical Variation and Influencing Factors of Spartina alterniflora Expansion Rate in Coastal China

Biological invasion poses a huge threat to ecological security.Spartina alterniflora was introduced into China in 1979,and its arrival corresponded with negative effects on native ecosystems.To explore geographical variation of its expansion rate in coastal China,we selected 43 S.alterniflora sites from Tianjin Coastal New Area to Beihai.The area expansion rate,expansion rate paralleling and vertical to the shoreline were analysed based on Landsat images and field survey in 2015.Simple Ocean Data Assimilation(SODA)and climate data were collected to statistically analyse the influential factors of expansion rate.Results showed that significant difference of S.alterniflora area expansion rate among different latitude zones(P<0.01),increasing from 6.08%at southern(21°N–23°N)to 19.87% in Bohai Bay(37°N–39°N)along latitude gradient.There was a significant difference in expansion rate vertical to shoreline in different latitude zones(P<0.01)with the largest occurring in Bohai Bay(256m/yr,37°N–39°N),and showed an decreasing tendency gradually from north to south.No significant difference and latitudinal clines in expansion rate paralleling to shoreline were observed.Expansion rate had significant negative correlation with mean seawater temperature,the lowest seawater temperature,current zonal velocity and meridional velocity and presented a reducing trend as these biotic factors increased;however,they were not significantly correlated with the highest seawater temperature and mean seawater salinity.We identified significant correlations between expansion rate and annual mean temperature,the lowest temperature in January and annual precipitation,but there was little correlation with annual diurnal difference in temperature and the highest temperature in July.The rapid expansion rate in high-latitude China demonstrated a higher risk of potential invasion in the north;dynamic monitoring and control management should be established as soon as possible.

C haracteristics of turbulent kinetic energy dissipation rate and turbidity near the coast of East China Sea

The East China Sea(ECS) has a high suspended-sediment concentration because of the influence of the Changjiang River,indicated by high turbidity in the water.Considering the islands off the coast and the complex topography,and the strong influence of tides and wind,the coast off the ECS is a typical region with strong oceanic mixing processes.The changes in the dynamic processes near the bottom play an important role in the control of water turbidity.The turbulent kinetic energy dissipation rate(ε) is a parameter that shows the strength of ocean mixing.This is estimated based on a structure method using current velocity that is measured by a high-frequency Acoustic Doppler Current Profiler(ADCP) from a seafloor observatory in the ECS.The results indicate strong ocean mixing processes with a mean e value of 5.7×10^(-5) W/kg and distinct tidal variations in the dissipation rate.Conversely,the variation of the water turbidity leads to changes in the water dynamical structure near the bottom.Comparing the dissipation rate with the turbidity near the bottom boundary layer,we find that the high turbidity mimics strong ocean mixing.

Impact of Different Rates of Nitrogen Supplementation on Soil PhysicochemicalProperties and Microbial Diversity in Goji Berry

Goji berry(Lycium barbarum L.)is substantially dependent on nitrogen fertilizer application,which can signifi-cantly enhance fruit yield and Goji berry industrial development in Ningxia,China.This study aimed to analyze the functions of differential nitrogen application rates including low(N1),medium(N2),and high(N3)levels in soil microbial community structure(bacterial and fungal)at 2 diverse soil depths(0-20,20-40 cm)through high-throughput sequencing technology by targeting 16S RNA gene and ITS1&ITS2 regions.All the observed physicochemical parameters exhibited significant improvement(p<0.05)with increased levels of nitrogen and the highest values for most parameters were observed at N2.However,pH decreased(p<0.05)gradually.The alpha and beta diversity analyses for bacterial and fungal communities’metagenome displayed more similarities than differences among all groups.The top bacterial and fungal phyla and genera suggested no obvious(p>0.05)differences among three group treatments(N1,N2,and N3).Furthermore,the functional enrichment analysis demonstrated significant(p<0.05)enrichment of quorum sensing,cysteine and methionine metabolism,and transcriptional machinery for bacterial communities,while various saprotrophic functional roles for fungal communities.Conclusively,moderately reducing the use of N-supplemented fertilizers is conducive to increasing soil nitrogen utilization rate,which can contribute to sustainable agriculture practices through improved soil quality,and microbial community structure and functions.

A New Method to Predict Erythrocyte Sedimentation Rate with Natural Geographical Factors and Location by Case-based Reasoning: A Case Study of China

Reference values of erythrocyte sedimentation rate(ESR)are the key to interpret ESR blood test in clinic.The common local reference ESR values are more accuracy in blood test that are established with natural geographical factors by using the multiple linear regression(MLR)model and the artificial neural network(ANN).These knowledge-based methods have limitations since the knowledge domains of ESR and natural geographical factors are limited.This paper presents a new cases-depended model to establish reference ESR values with natural geographical factors and location using case-based reasoning(CBR)since knowledge domain of ESR and geographical factors is weak.Overall 224 local normal ESR values of China that calculated from 13623 samples were obtained,and the corresponding natural geographical factors and location that include altitude,sunshine hours,relative humidity,temperature,precipitation,annual temperature range and annual average wind speed were obtained from the National Geomatics Center of China.CBR was used to predict the unseen local reference ESR values with cases.The average absolute deviation(AAD),mean square error(MSE),prediction accuracy(PA),and Pearson correlation coefficient(r)between the observed and estimated data of proposed model is 33.07%,9.02,66.93% and 0.78,which are better than those of ANN and MLR model.The results show that the proposed model provides higher prediction accuracy than those of the artificial neural network and multiple linear regression models.The predicted values are very close to the observed values.Model results show significant agreement of cases data.Consequently,the model is used to predict the unseen local reference ESR with natural geographical factors and location.In spatial,the highest ESR reference areas are distributed in the southern-western district of China that includes Sichuan,Chongqing,Guangxi and Guizhou provinces,and the reference ESR values are greater than 23 mm/60 min.The higher ESR reference values are distributed in the middle part and northern-eastern of China which include Hubei,Henan,Shaanxi,Shanxi,Jilin and Heilongjiang provinces,and the reference ESR values are greater than 18 mm/60min.The lowest ESR reference values are distributed in the northern-western of China that includes Tibet and Xinjiang,and the reference ESR values are lower than 5 mm/60min.

Do the RMB exchange rate and global commodity prices have asymmetric or symmetric effects on China’s stock prices?

With the rapid expansion of the RMB exchange rate’s floating range,the effects of the RMB exchange rate and global commodity price changes on China’s stock prices are likely to increase.This study uses both auto regressive distributed lag(ARDL)and nonlinear ARDL(NARDL)approaches to explore the symmetric and asymmetric effects of the RMB exchange rate and global commodity prices on China’s stock prices.Our findings show that without considering the critical variable of global commodity prices,there is no cointegration relationship between the RMB exchange rate and China’s stock prices,and the coefficient of the RMB exchange rate is not statistically significant.However,when we introduce global commodity prices into the NARDL model,the result shows that the RMB exchange rate has a negative effect on China’s stock prices,that there indeed exists a long-run cointegration relationship among the RMB exchange rate,global commodity prices,and stock prices in the NARDL model,and that global commodity price changes have an asymmetric effect on China’s stock prices in the long run.Specifically,China’s stock prices are more sensitive to increases than decreases in global commodity prices.Thus,increases in global commodity prices cause China’s stock prices to decline sharply.In contrast,the same magnitude of decline in global commodity prices induces a smaller increase in China’s stock prices.

Analysis of the impact of interest rate liberation on China＇s banking sector

Actually China has achieved the liberation of deposit and lending rates to some extent, after the start of the reform, it is expected there may not be a great impact on the banking sector in the short term, but in the long term, the interest rate liberation will undoubtedly increase the cost of capital banks, especially after deposit rates achieve the full realization of market-oriented pricing, which will have long term impact on the banking business.

Determining Optimal Strategies to Reduce Maternal and Child Mortality in Rural Areas in Western China: an Assessment Using the Lives Saved Tool

China, as a whole, is about to meet the Millennium Development Goals for reducing the maternal mortality ratio (MMR) and infant mortality rate (IMR), but the disparities between rural area and urban area still exists. This study estimated the potential effectiveness of expanding coverage with high impact interventions using the Lives Saved Tool (LiST). It was found that gestational hypertension, antepartum and postpartum hemorrhage, preterm birth, neonatal asphyxia, and neonatal childhood pneumonia and diarrhea are still the major killers of mothers and children in rural area in China. It was estimated that 30% of deaths among 0-59 month old children and 25% of maternal deaths in 2008 could be prevented in 2015 if primary health care intervention coverage expanded to a feasible level. The LiST death cause framework, compared to data from the Maternal and Child Mortality Surveillance System, represents 60%-80% of neonatal deaths, 40%-50% of deaths in 1-59 month old children and 40%-60% of maternal deaths in rural areas of western China.

The Analysis on Comparison of Forming Condition with Abroad Palaeo-Epicontinental Marine Basin and Possibility of Potash Formation in North China

1 Introduction Currently,all six different continents have discovered potash deposits and potash-bearing salt lake saline water.However,the distribution is extremely uneven,which is mostly concentrated in Canada,Russia,Middle-Asia and

The Empirical Analysis of the Relationship between our Country Steel Price Index and the International Iron ore Freight Rate

The use of econometric methods to analyze the relationship between our country steel price index and the international iron ore freight rate,time series stationarity test,cointegration test,Granger test of causality and model parameter estimation tools use,find that there is Granger causality between our country steel price index and the international iron ore freight rate,China' s steel price fluctuations to some extent affect the international iron ore freight.

Quality and Testing Standards on Rice Production in China and Development Strategies

China is the biggest country of rice production and consumption in the world;more than 50% of the population feeds chiefly on rice. The quality of rice and its role as a staplefood carry much weight. The rice qualities are those aspects concerning processing, appearance,cooking, nutrition and safety of the product. The study, formulation and implementation of standardson rice qualities and testing bear heavily on the improving of rice qualities, human health,substitution of rice varieties, promoting quality rice production and regulating rice market.

Impact of Operating Conditions on the Productivity of Star-Rated Hotels in China's Mainland: Verification from Spatial Metrology

Room occupancy rate is a key indicator of star-rated hotel management quality. This paper takes Cobb-Douglas production function as the theoretical framework. Spatial Moran index of autocorrelation, Spatial Lag Model(SLM) and Spatial Error Model(SEM) are used to analyze the star-rated hotels labor productivity of 31 provincial regions in China's Mainland based on the star-rated hotels statistical data of year 2016. The spatial correlation and spatial difference of the star-rated hotels labor productivity is discussed. This paper studies the impact of three factors on spatial characteristics of star-rated hotels labor productivity in China's Mainland. The econometric estimation results show that:(1) Star-rated hotels labor productivity present significant spatial dependence and spatial difference in China's Mainland.(2) The estimation results of Ordinary least Squares(OLS) are reliable.(3) The reliability of the results obtained by the Spatial Error Model(SEM) analysis is the highest, and has a stronger explanatory power to the spatial relationship of star-rated hotels labor productivity in China's Mainland. The average room occupancy rate has more influence on the labor productivity of the provincial star-rated hotels than the impact of capital and labor.

Overwintering Safe Storage Methods and Regional Division of Seed-stem of Cassava in China

[Objective] In this study,the climatic features and overwintering sage storage methods of seed-stem of cassava in cassava-planting areas were investigated aiming at providing a technical guidance for sustainable development of cassava industry in China.[Method] The seed-stem of cassava was overwintered through keeping in field,piling up in the open air,burying in soil or piling up in greenhouses in Hepu,Nanning and Laibin of Guangxi,Hunan and Zhejiang.After the beginning of spring,the survival buds in seed stem of cassava were counted.And then the survival rates of buds were calculated for different storage methods.[Result] In Hepu,where the seed-stem of cassava was piled up in the open air for overwintering,the survival rates of buds were all higher than 90.00%.In particular,the survival rate of buds in seed-stem of cassava that was buried shallowly in the open field was highest（94.38%）.In Nanning,the seed-stem of cassava that was stored in greenhouses had the highest survival rate（94.98%） of buds.In Laibin,the seed-stem of cassava was usually stacked in greenhouses.Thus the survival rates of buds were almost all higher than 89.60%.Particularly,the survival rate of buds in seed-stem of cassava that was buried horizontally in soil and covered with sugarcane leaves reached the peak（98.79%）.In Jiangyong and Hangzhou,the seedstem of cassava was stored in specific facilities.So the survival rates of buds were relatively high.[Conclusion] In the frost-free areas south of 21.6° N（south of Maoming（Guangdong）-Hepu（Guangxi）-Jinghong（Yunnan））,the seed-stem of cassava can be buried shallowly in the open air or stacked and covered with film.In the light to heavy-frost areas（21.6° N-23.8° N,south of Qingyuan（Guangdong）-Laibin（Guangxi）-Lincang（Yunnan））,the seed-stem of cassava can be stacked in greenhouses,stacked and covered with film in the open air or buried vertically in greenhouses.In the heavy-frost areas and low-temperature areas north of 23.8° N（north of Qingyuan（Guangdong）-Laibin（Guangxi）-Lincang（Yunnan） to HunanJiangxi-Zhejiang）,the seed-stem of cassava can be stored in coldness-resistant caves or cellars or stacked vertically in greenhouses along with small sheds.

Incidence and in-hospital mortality of acute aortic dissection in China： analysis of China Health Insurance Research （CHIRA） Data 2011

Objective Acute aortic dissection （AAD） is a catastrophic event with high early mortality rate, but to date, no data on the incidence of AAD in China's Mainland is available. This study aimed to estimate the incidence of AAD in China and characterize the clinical profile, management and in-hospital outcomes of this vascular event. Methods We used the China Health Insurance Research Data （the CHIRA Data） 2011 which comprises all inpatient hospital records （300,886） during the period of Jan. 1st 2011 to Dec. 31 2011 of 3,335,000 randomly sampled beneficiaries （1,718,500 men and 1,616,500 women） from 25 cities and counties in different economic-geographic regions of China's Mainland. Patients with acute aortic dissection were identified according to International Classification of Disease 10m Revision （ICD-10） of I71.0, The estimated incidence of AAD was calculated using the equation： estimated incidence = 2.0 × （40% × hospital admission rate） ＋ 60% × hospital admission rate. Results The hospital admission rate was 2.0/100,000 （65/3,325,000, 95% CI： 1.2-2.8）. The estimated annual incidence of AAD was 2.8/100,000 （95% CI： 1.9-3.6） and was higher in male than in female （3.7 vs. 1.5, P 〈 0.001）. The mean age was 58.9 ± 13.4 years. During the mean hospital stay of 23 ±6 days, the overall in-hospital mortality was 13.9% （9/65）. Conclusions Our study showed relatively lower but not negligible incidence and in-hospital mortality of AAD in the mainland of China. The mean age of patients with AAD in Chinese was younger than that reported by researches from west countries, while the male to female incidence ratio is similar to those reported by other studies.

China’s financial conundrum and global imbalances

China’s financial conundrum arises from two sources: (1) its large trade (saving) surplus results in a currency mismatch because it is an immature creditor that cannot lend in its own currency. Instead foreign currency claims (largely dollars) build up within domestic financial institutions. And (2) economists – both American and Chinese – mistakenly attribute the surpluses to an undervalued renminbi. To placate the United States, the result is a gradual appreciation of the renminbi against the dollar of 6% or more per year. This predictable appreciation since 2004, and the fall in US interest rates since mid 2007, not only attracts hot money inflows but inhibits private capital outflows from financing China’s huge trade surplus. This one-way bet in the foreign exchange markets can no longer be offset by relatively low interest rates in China compared to the United States, as had been the case in 2005-06. Thus, the People’s Bank of China (PBOC) now must intervene heavily to prevent the renminbi from ratcheting upwards – and so becomes the country’s sole international financial intermediary. Despite massive efforts by the PBOC to sterilize the monetary consequences of the reserve buildup, inflation in China is increasing, with excess liquidity that spills over into the world economy. China has been transformed from a deflationary force on American and European price levels into an inflationary one. Because of the currency mismatch, floating the RMB is neither feasible nor desirable – and a higher RMB would not reduce China’s trade surplus. Instead, monetary control and normal private-sector finance for the trade surplus require a return to a credibly fixed nominal yuan/dollar rate similar to that which existed between 1995 and 2004. But for any newly reset yuan/dollar rate to be credible as a monetary anchor, foreign "China bashing" to get the RMB up must end. Currency stabilization would allow the PBOC to regain monetary control and quash inflation. Only then can the Chinese government take decisive steps to reduce the trade (saving) surplus by tax cuts, increased social expenditures, and higher dividend payouts. But as long as the economy remains overheated, the government hesitates to take these trade-surplus-reduction measures because of their near-term inflationary consequences.