Wind energy is a clean and sustainable energy, and wind power does not rely on fossil fuels. So there is no fuel price risk, and it, of course, does not include the environmental costs, such as carbon emissions. Becau...Wind energy is a clean and sustainable energy, and wind power does not rely on fossil fuels. So there is no fuel price risk, and it, of course, does not include the environmental costs, such as carbon emissions. Because of these unique advantages, wind power has gradually become an important part of the strategy of sustainable development in China. Now with the growing voices on global greenhouse gas emission reduction, and as a clean and efficient energy, wind power has huge potential in combating climate change, energy security pressures and the needs for energy. Wind power in China began to develop from the 1980s. In the first 20 years, the speed of development was slow; but since 2004, it has had an extremely rapid growth.This paper, in order to study the development mechanism of China＆amp;amp;amp;#39;s wind power industry, investigated and analyzed the status quo of wind power industry in China, and then found that （1） the development trend of wind power industry in China appears exponential growth; （2） China＆amp;amp;amp;#39;s installed capacity of wind power is still smaller than that os some other countries; （3） new subsidy policies bring developing opportunities to wind power industry in China; （4） the sectors of wind power industry are in unbalanced growing; （5） the owners of proposed wind farms are too optimistic though the built wind farm had many problems. In addition, by using the methodology of Game Theory, this paper has also constructed the matrix of pre-assessing risks of China＆amp;amp;amp;#39;s wind power industry to further discuss the potential risk factors within China＆amp;amp;amp;#39;s wind power industry as risk factors of wind farm construction, risk factors of production of wind turbines, risk factors of parts and components manufacturing industry under risk indicators like R＆amp;amp;amp;amp;D, patents, the domestic policy, the international policy, the quality of products and the market regulation, in order to provide a scientific assessment and self-assessment tool for investors or implementers, and also to promote the further development of the wind power industry.展开更多
As the major source of air pollution,sulfur dioxide(S0_(2))emissions have become the focus of global attention.However,existing studies rarely consider spatial effects when discussing the relationship between foreign ...As the major source of air pollution,sulfur dioxide(S0_(2))emissions have become the focus of global attention.However,existing studies rarely consider spatial effects when discussing the relationship between foreign direct investment(FDI)and S0_(2) emissions.This study took the Yangtze River Delta as the research area and used the spatial panel data of 26 cities in this region for 2004-2017.The study investigated the spatial agglomeration effects and dynamics at work in FDI and S0_(2) emissions by using global and local measures of spatial autocorrelation.Then,based on regression analysis using a results of traditional ordinary least squares(OLS)model and a spatial econometric model,the spatial Durbin model(SDM)with spatial-time effects was adopted to quantify the impact of FDI on S0_(2) emissions,so as to avoid the regression results bias caused by ignoring the spatial effects.The results revealed a significant spatial autocorrelation between FDI and S0_(2) emissions,both of which displayed obvious path dependence characteristics in their geographical distribution.A series of agglomeration regions were observed on the spatial scale.The estimation results of the SDM showed that FDI inflow promoted S0_(2) emissions,which supports the pollution haven hypothesis.The findings of this study are significant in the prevention and control of air pollution in the Yangtze River Delta.展开更多
This paper addresses a dynamic portfolio investment problem. It discusses how we can dynamically choose candidate assets, achieve the possible maximum revenue and reduce the risk to the minimum level. The paper genera...This paper addresses a dynamic portfolio investment problem. It discusses how we can dynamically choose candidate assets, achieve the possible maximum revenue and reduce the risk to the minimum level. The paper generalizes Markowitz’s portfolio selection theory and Sharpe’s rule for investment decision. An analytical solution is presented to show how an institu- tional or individual investor can combine Markowitz’s portfolio selection theory, generalized Sharpe’s rule and Value-at-Risk (VaR) to find candidate assets and optimal level of position sizes for investment (dis-investment). The result shows that the gen- eralized Markowitz’s portfolio selection theory and generalized Sharpe’s rule improve decision making for investment.展开更多
The Chinese government set up the State Development Bank against the background of the Chinese economic system being transformed from planned to market. In May 1995, the State Development Investment Corporation was es...The Chinese government set up the State Development Bank against the background of the Chinese economic system being transformed from planned to market. In May 1995, the State Development Investment Corporation was established. Does this mean that China’s investment system reform is advancing at a much展开更多
Usually, China’s overseas investment refers to direct investment (capital, equipment, technology, patent fights and trademark) from Chinese enterprises, corporations and other organizations to set up overseas joint v...Usually, China’s overseas investment refers to direct investment (capital, equipment, technology, patent fights and trademark) from Chinese enterprises, corporations and other organizations to set up overseas joint ventures, cooperative operations, wholly-owned enterprises or other展开更多
1. .Productive enterprises with foreign investment will be exempt from income tax for the first two years starting from the year of opening,and their income tax will be cut by half during the next three years. After t...1. .Productive enterprises with foreign investment will be exempt from income tax for the first two years starting from the year of opening,and their income tax will be cut by half during the next three years. After that, they will continue to enjoy half tax rates, and at the same time, qualify for local tax exemption. 2. For the Sino-French joint venture approved to produce 300,000 buses,展开更多
The volume of e-commerce trade is surging, mobile payment is taking over the world, and the sharing economy is a worldwide phenomenon. In recent years, China has made remarkable achievements in the digital economy dom...The volume of e-commerce trade is surging, mobile payment is taking over the world, and the sharing economy is a worldwide phenomenon. In recent years, China has made remarkable achievements in the digital economy domain, which has garnered attention from a wide range of sources.展开更多
At the recently-convened meetings of the National People’sCongress and the Chinese People’s Political ConsultativeCoference, agriculture has once again become a hot topicattracting attentions of deputies. Speeding u...At the recently-convened meetings of the National People’sCongress and the Chinese People’s Political ConsultativeCoference, agriculture has once again become a hot topicattracting attentions of deputies. Speeding up the opening up ofagricultural sector and properly resolving the thorny financial andtechnological problems confronting it become a highlighted issuein the State’s plan to utilize foreign investment in the coming fewyears.展开更多
In recent years,overseas observers have reached a consensus upon attributing China’s sustained rapid economic growth primarily to high investment.This consensus opinion has also struck a resonant chord among a large ...In recent years,overseas observers have reached a consensus upon attributing China’s sustained rapid economic growth primarily to high investment.This consensus opinion has also struck a resonant chord among a large number of domestic researchers who acknowledge the tremendous contribution of continued high fixed asset investment to China’s economic growth,and often wonder whether"the investment ratio is too high"and"the economy is overheating".In this article,renowned economist Zhang Hanya elaborates upon the real economic meaning of"investment ratio",and sets out reasonable criteria for the"investment/consumption ratio".His explanations help us to clarify our understanding and judgments regarding the related issues.展开更多
1. Agriculture, Forestry, Animal Husbandry, Fishery and Relevant Industries 1) Reclamation and development of waste land and hills,transformation of medium-to-low output land and forest; 2) Development of new varietie...1. Agriculture, Forestry, Animal Husbandry, Fishery and Relevant Industries 1) Reclamation and development of waste land and hills,transformation of medium-to-low output land and forest; 2) Development of new varieties of good quality and high output agricultural crops such as cereals, oils, fruits, vegetables, flowers and forage grass;展开更多
Henan Province has been working hard to improve its investment environment and build up its infrastructure ever since the start of China’s opening to the outside world. So far, the province has achieved great progres...Henan Province has been working hard to improve its investment environment and build up its infrastructure ever since the start of China’s opening to the outside world. So far, the province has achieved great progress. Its annual output of raw coal is 90 million tons, ranking second in the country; it has an installed capacity of 7.6 million KWs, generating 43 billion KWhs of electricity per year.展开更多
During the Fifth Asian and Pacific International Fairs held in Beijing, the vice minister of State Economic and Trade Commission, Yu Xiaosong, gave a review of the economic situation and investment environment of Chin...During the Fifth Asian and Pacific International Fairs held in Beijing, the vice minister of State Economic and Trade Commission, Yu Xiaosong, gave a review of the economic situation and investment environment of China to business people and journalists of various countries. This year is a key year in China’s economic system reform. The reform schemes for financial and taxation, monetary, investment and foreign展开更多
During the Eighth Five-Year Planperiod, Shaanxi Province intensifiedthe restructuring of investment andmacro-control in fixed assets investment byimplementing the policy of "limiting totalamount, readjusting stru...During the Eighth Five-Year Planperiod, Shaanxi Province intensifiedthe restructuring of investment andmacro-control in fixed assets investment byimplementing the policy of "limiting totalamount, readjusting structure, rectifying orderand improving efficiency". The wholeprovince realized RMB 110 billion in fixedassets investment, (including RMB 86.5 billionby state-owned units, RMB 14.23 billionthrough loans from the construction bank,making up 16.5 percent), RMB 67 billionmore than in the Seventh Five-Year Planperiod, with an annual increase of 26.5 percent.Thanks to the support, a group of medium-to-large and key projects have been put展开更多
基金supported by National Key Project of Scientific and Technical Supporting Programs Funded by Ministry of Science & Technology of China in the 11th Five-Year Plan(Grant No.2007BAC03A12)
文摘Wind energy is a clean and sustainable energy, and wind power does not rely on fossil fuels. So there is no fuel price risk, and it, of course, does not include the environmental costs, such as carbon emissions. Because of these unique advantages, wind power has gradually become an important part of the strategy of sustainable development in China. Now with the growing voices on global greenhouse gas emission reduction, and as a clean and efficient energy, wind power has huge potential in combating climate change, energy security pressures and the needs for energy. Wind power in China began to develop from the 1980s. In the first 20 years, the speed of development was slow; but since 2004, it has had an extremely rapid growth.This paper, in order to study the development mechanism of China＆amp;amp;amp;#39;s wind power industry, investigated and analyzed the status quo of wind power industry in China, and then found that （1） the development trend of wind power industry in China appears exponential growth; （2） China＆amp;amp;amp;#39;s installed capacity of wind power is still smaller than that os some other countries; （3） new subsidy policies bring developing opportunities to wind power industry in China; （4） the sectors of wind power industry are in unbalanced growing; （5） the owners of proposed wind farms are too optimistic though the built wind farm had many problems. In addition, by using the methodology of Game Theory, this paper has also constructed the matrix of pre-assessing risks of China＆amp;amp;amp;#39;s wind power industry to further discuss the potential risk factors within China＆amp;amp;amp;#39;s wind power industry as risk factors of wind farm construction, risk factors of production of wind turbines, risk factors of parts and components manufacturing industry under risk indicators like R＆amp;amp;amp;amp;D, patents, the domestic policy, the international policy, the quality of products and the market regulation, in order to provide a scientific assessment and self-assessment tool for investors or implementers, and also to promote the further development of the wind power industry.
基金Under the auspices of National Natural Science Foundation of China(No.41771140)National Key R&D Program of China(No.2018YFE0105900)。
文摘As the major source of air pollution,sulfur dioxide(S0_(2))emissions have become the focus of global attention.However,existing studies rarely consider spatial effects when discussing the relationship between foreign direct investment(FDI)and S0_(2) emissions.This study took the Yangtze River Delta as the research area and used the spatial panel data of 26 cities in this region for 2004-2017.The study investigated the spatial agglomeration effects and dynamics at work in FDI and S0_(2) emissions by using global and local measures of spatial autocorrelation.Then,based on regression analysis using a results of traditional ordinary least squares(OLS)model and a spatial econometric model,the spatial Durbin model(SDM)with spatial-time effects was adopted to quantify the impact of FDI on S0_(2) emissions,so as to avoid the regression results bias caused by ignoring the spatial effects.The results revealed a significant spatial autocorrelation between FDI and S0_(2) emissions,both of which displayed obvious path dependence characteristics in their geographical distribution.A series of agglomeration regions were observed on the spatial scale.The estimation results of the SDM showed that FDI inflow promoted S0_(2) emissions,which supports the pollution haven hypothesis.The findings of this study are significant in the prevention and control of air pollution in the Yangtze River Delta.
文摘This paper addresses a dynamic portfolio investment problem. It discusses how we can dynamically choose candidate assets, achieve the possible maximum revenue and reduce the risk to the minimum level. The paper generalizes Markowitz’s portfolio selection theory and Sharpe’s rule for investment decision. An analytical solution is presented to show how an institu- tional or individual investor can combine Markowitz’s portfolio selection theory, generalized Sharpe’s rule and Value-at-Risk (VaR) to find candidate assets and optimal level of position sizes for investment (dis-investment). The result shows that the gen- eralized Markowitz’s portfolio selection theory and generalized Sharpe’s rule improve decision making for investment.
文摘The Chinese government set up the State Development Bank against the background of the Chinese economic system being transformed from planned to market. In May 1995, the State Development Investment Corporation was established. Does this mean that China’s investment system reform is advancing at a much
文摘Usually, China’s overseas investment refers to direct investment (capital, equipment, technology, patent fights and trademark) from Chinese enterprises, corporations and other organizations to set up overseas joint ventures, cooperative operations, wholly-owned enterprises or other
文摘1. .Productive enterprises with foreign investment will be exempt from income tax for the first two years starting from the year of opening,and their income tax will be cut by half during the next three years. After that, they will continue to enjoy half tax rates, and at the same time, qualify for local tax exemption. 2. For the Sino-French joint venture approved to produce 300,000 buses,
文摘The volume of e-commerce trade is surging, mobile payment is taking over the world, and the sharing economy is a worldwide phenomenon. In recent years, China has made remarkable achievements in the digital economy domain, which has garnered attention from a wide range of sources.
文摘At the recently-convened meetings of the National People’sCongress and the Chinese People’s Political ConsultativeCoference, agriculture has once again become a hot topicattracting attentions of deputies. Speeding up the opening up ofagricultural sector and properly resolving the thorny financial andtechnological problems confronting it become a highlighted issuein the State’s plan to utilize foreign investment in the coming fewyears.
文摘In recent years,overseas observers have reached a consensus upon attributing China’s sustained rapid economic growth primarily to high investment.This consensus opinion has also struck a resonant chord among a large number of domestic researchers who acknowledge the tremendous contribution of continued high fixed asset investment to China’s economic growth,and often wonder whether"the investment ratio is too high"and"the economy is overheating".In this article,renowned economist Zhang Hanya elaborates upon the real economic meaning of"investment ratio",and sets out reasonable criteria for the"investment/consumption ratio".His explanations help us to clarify our understanding and judgments regarding the related issues.
文摘1. Agriculture, Forestry, Animal Husbandry, Fishery and Relevant Industries 1) Reclamation and development of waste land and hills,transformation of medium-to-low output land and forest; 2) Development of new varieties of good quality and high output agricultural crops such as cereals, oils, fruits, vegetables, flowers and forage grass;
文摘Henan Province has been working hard to improve its investment environment and build up its infrastructure ever since the start of China’s opening to the outside world. So far, the province has achieved great progress. Its annual output of raw coal is 90 million tons, ranking second in the country; it has an installed capacity of 7.6 million KWs, generating 43 billion KWhs of electricity per year.
文摘During the Fifth Asian and Pacific International Fairs held in Beijing, the vice minister of State Economic and Trade Commission, Yu Xiaosong, gave a review of the economic situation and investment environment of China to business people and journalists of various countries. This year is a key year in China’s economic system reform. The reform schemes for financial and taxation, monetary, investment and foreign
文摘The Beijing Foreign Economic and Trade Commission has announced that,in 1997, Beijing’s use of foreign investment has had the following new features:
文摘During the Eighth Five-Year Planperiod, Shaanxi Province intensifiedthe restructuring of investment andmacro-control in fixed assets investment byimplementing the policy of "limiting totalamount, readjusting structure, rectifying orderand improving efficiency". The wholeprovince realized RMB 110 billion in fixedassets investment, (including RMB 86.5 billionby state-owned units, RMB 14.23 billionthrough loans from the construction bank,making up 16.5 percent), RMB 67 billionmore than in the Seventh Five-Year Planperiod, with an annual increase of 26.5 percent.Thanks to the support, a group of medium-to-large and key projects have been put
