Nowadays,China has become the world’s largest energy producer,consumer and CO_2 emitter.Although the economic growth is slowing down,China still has a bigger portion in world’s energy demand increment for its larger...Nowadays,China has become the world’s largest energy producer,consumer and CO_2 emitter.Although the economic growth is slowing down,China still has a bigger portion in world’s energy demand increment for its larger economic volume and is an important endogenous factor of global energy market.展开更多
The emission of the traditional energy chemical industry accounts for 20% of the total manmade VOC emission in China, of which coal chemical and petrochemical plants are one of the most important VOC emission sources....The emission of the traditional energy chemical industry accounts for 20% of the total manmade VOC emission in China, of which coal chemical and petrochemical plants are one of the most important VOC emission sources. VOC emission sources mainly include the leakage of oil refinery units and equipment, pipes and valves, respiration and leakage of various types of storage tanks, effusion of oils during loading and unloading, effusion of sewage treatment systems, all kinds of process tail gas, etc. In this paper, the current management status of VOC emission in China’s coal chemical industry and petrochemical industry are analyzed, which divides VOC management into intentional and fugitive emission. The Leak Detection and Repair (LDAR) management method and technology for equipment, pipes and valves implemented in the United States are studied to propose self-inspection management methods and measures for VOC emissions in the energy chemical industry, providing strategies and recommendations for energy conservation, emission reduction and cleaner production in the traditional energy chemical industry.展开更多
Under the dual pressures of energy crisis and environmental pollution,China’s new energy power industry has become a focal point for environmental management and requires greater investment.In this context,as a signi...Under the dual pressures of energy crisis and environmental pollution,China’s new energy power industry has become a focal point for environmental management and requires greater investment.In this context,as a significant input of investment projects,discount rate requires a well-calibrated evaluation because new energy power investment projects are highly capital intensive.The main objective of this paper is to evaluate the discount rate of China’s new energy power industry.First,we use Moving Average to correct the parameters of capital asset pricing model(CAPM)and weighted average cost of capital,which extends the literature on the avoidance of CAPM noise information problem.Second,we study the industry-level annual discount rates of mainly China’s new energy power industries,including hydropower,nuclear power,wind power,and photovoltaic power industries for the period of 2014-2019.The results show that discount rates in China’s new energy power industries evolved differently between the years of 2014-2019 with average annual discount rates being 7.56%,5.83%,5.60%,and 8.64%,for the hydropower,nuclear power,wind power,and photovoltaic power industries,respectively.In 2019,the four annual discount rates were highest for the photovoltaic power industry(8.66%),followed by hydropower(7.17%),wind power(5.72%),and nuclear power industry(5.26%).Forecasting to 2020 from the 2019 evaluation base period,the discount rates are 6.37%,5.00%,6.57%,and 9.05%for the photovoltaic power,hydropower,wind power,and nuclear power industries,respectively.Under the different capital structures,their forecasts for the photovoltaic power,hydropower,wind power,and nuclear power industries in 2020 are,respectively,within[4.35%,9.24%],[3.92%,7.10%],[4.58%,10.40%],[5.46%,14.81%].We also discussed more details on capital structure and forecast period of discount rates for China’s new energy power industries.Our analysis shows that it is necessary to establish a new energy power industry database and steadily promote the implementation of policies.展开更多
With the rapid and continual growth of national economy, the gap between oil demand and supply keeps widening in China, therefore China will increasingly depend on imported oil. However, the world＇s oil and gas resou...With the rapid and continual growth of national economy, the gap between oil demand and supply keeps widening in China, therefore China will increasingly depend on imported oil. However, the world＇s oil and gas resources are unevenly distributed; global world＇s oil prices remain high; and over 70 percent of China＇s imported oil has to be shipped through the Malacca Strait. There are various ways to ensure China＇s oil security today, and the practical and feasible strategic option is to increase the discovery and production of domestic oil, raise energy efficiency and develop petroleum substitutes. Scientific and technological innovation is crucial both in new oil reserves discovery and production, energy conservation, and in the development of petroleum substitutes, establishment of a strategic oil reserve system and for environment protection. This indicates that China should take effective measures in investment strategy, fiscal policies, financing instruments, intellectual property protection, fostering talents and professionals, so as to establish its own scientific and technological innovation system in the petroleum industry and be better able to ensure oil security.展开更多
China is facing important challenges stemming from increasing rates of urbanization and aging population. To pursue its ＂harmonious society＂ objective without disrupting its path to development major overhauls are n...China is facing important challenges stemming from increasing rates of urbanization and aging population. To pursue its ＂harmonious society＂ objective without disrupting its path to development major overhauls are necessary in education, health, social security and above all in public services, particularly in electricity. China＇s electricity industry is at the crossroads. To meet the challenges, new models of regulation should be developed and applied. This paper examines the current state of the Chinese electricity industry and the burden it imposes on its public finances. It also reviews and critically examines the existing FIT （Europe） and RPS （USA） models of regulation and of promotion of renewable energies and advances on whether they are advantageous for China. It is argued that the electricity industry has already undergone important reforms but cross subsidies still exist, equivalent to 1.5% of China＇s GDP. Drastic rate rebalancing policies will create sustainability problems and a deterioration of China＇s public finances. To avoid such negative results, China has to further reform its electricity industry gradually and use wisely FIT-type programs to bring renewables into the grid and fulfill the Kyoto Protocol展开更多
Using energy consumption and land use data of each region of China in 2007, this paper established carbon emission and carbon footprint model based on energy consumption and estimated the carbon emission amount of fos...Using energy consumption and land use data of each region of China in 2007, this paper established carbon emission and carbon footprint model based on energy consumption and estimated the carbon emission amount of fossil energy and rural biomass energy of dif- ferent regions of China in 2007. Through matching the energy consumption items with industrial spaces, this paper divided industrial spaces into five types： agricultural space, living ＆ industrial-commercial space, transportation industrial space, fishery and water conservancy space, and other industrial space. Then the author analyzed the carbon emission intensity and carbon footprint of each industrial space. Finally, advices of decreasing industrial carbon footprint and optimizing industrial space pattern were put forward. The main conclusions are as following： （1） Total amount of carbon emission from energy consumption of China in 2007 was about 1.65 GtC, in which the proportion of carbon emission from fossil energy was 89%. （2） Carbon emission intensity of industrial space of China in 2007 was 1.98 t/hm^2, in which, carbon emission intensity of living ＆ industrial-commercial space and of transportation industrial space was 55.16 t/hm^2 and 49.65 t/hm^2 respectively, they were high-carbon-emission industrial spaces among others. （3） Carbon footprint caused by industrial activities of China in 2007 was 522.34×10^6 hm^2, which brought about ecological deficit of 28.69×10^6 hm^2, which means that the productive lands were not sufficient to compensate for carbon footprint of industrial activities, and the compensating rate was 94.5%. As to the regional carbon footprint several regions have ecological profit while others have not. In general, the present ecological deficit caused by industrial activities was small in 2007. （4） Per unit area carbon footprint of industrial space in China was about 0.63 hm^2/hm^2 in 2007, in which that of living ＆ industrial-commercial space was the highest （17.5 hm^2/hm^2）. The per unit area carbon footprint of different industrial spaces all presented a declining trend from east to west of China.展开更多
As a strategic emerging industry,the new energy vehicle industry has been a key industry in China in recent years and has great significance for China to realize industrial transformation and upgrading,and seize the c...As a strategic emerging industry,the new energy vehicle industry has been a key industry in China in recent years and has great significance for China to realize industrial transformation and upgrading,and seize the commanding heights of international competition.In particular,the industry has been vigorously boosted by the introduction of the subsidy policy in 2014 and has achieved faster development.Today,China’s new展开更多
According to the latest report of Pike Research,the demand for rare earth in the new energy technology field will break the mark of 12,000 tons to reach 12,920 tons in 2017 from about 9,000 tons in 2011,indicating rap...According to the latest report of Pike Research,the demand for rare earth in the new energy technology field will break the mark of 12,000 tons to reach 12,920 tons in 2017 from about 9,000 tons in 2011,indicating rapid development of China’s rare earth hydrogen storage material industry.展开更多
文摘Nowadays,China has become the world’s largest energy producer,consumer and CO_2 emitter.Although the economic growth is slowing down,China still has a bigger portion in world’s energy demand increment for its larger economic volume and is an important endogenous factor of global energy market.
文摘The emission of the traditional energy chemical industry accounts for 20% of the total manmade VOC emission in China, of which coal chemical and petrochemical plants are one of the most important VOC emission sources. VOC emission sources mainly include the leakage of oil refinery units and equipment, pipes and valves, respiration and leakage of various types of storage tanks, effusion of oils during loading and unloading, effusion of sewage treatment systems, all kinds of process tail gas, etc. In this paper, the current management status of VOC emission in China’s coal chemical industry and petrochemical industry are analyzed, which divides VOC management into intentional and fugitive emission. The Leak Detection and Repair (LDAR) management method and technology for equipment, pipes and valves implemented in the United States are studied to propose self-inspection management methods and measures for VOC emissions in the energy chemical industry, providing strategies and recommendations for energy conservation, emission reduction and cleaner production in the traditional energy chemical industry.
文摘Under the dual pressures of energy crisis and environmental pollution,China’s new energy power industry has become a focal point for environmental management and requires greater investment.In this context,as a significant input of investment projects,discount rate requires a well-calibrated evaluation because new energy power investment projects are highly capital intensive.The main objective of this paper is to evaluate the discount rate of China’s new energy power industry.First,we use Moving Average to correct the parameters of capital asset pricing model(CAPM)and weighted average cost of capital,which extends the literature on the avoidance of CAPM noise information problem.Second,we study the industry-level annual discount rates of mainly China’s new energy power industries,including hydropower,nuclear power,wind power,and photovoltaic power industries for the period of 2014-2019.The results show that discount rates in China’s new energy power industries evolved differently between the years of 2014-2019 with average annual discount rates being 7.56%,5.83%,5.60%,and 8.64%,for the hydropower,nuclear power,wind power,and photovoltaic power industries,respectively.In 2019,the four annual discount rates were highest for the photovoltaic power industry(8.66%),followed by hydropower(7.17%),wind power(5.72%),and nuclear power industry(5.26%).Forecasting to 2020 from the 2019 evaluation base period,the discount rates are 6.37%,5.00%,6.57%,and 9.05%for the photovoltaic power,hydropower,wind power,and nuclear power industries,respectively.Under the different capital structures,their forecasts for the photovoltaic power,hydropower,wind power,and nuclear power industries in 2020 are,respectively,within[4.35%,9.24%],[3.92%,7.10%],[4.58%,10.40%],[5.46%,14.81%].We also discussed more details on capital structure and forecast period of discount rates for China’s new energy power industries.Our analysis shows that it is necessary to establish a new energy power industry database and steadily promote the implementation of policies.
文摘With the rapid and continual growth of national economy, the gap between oil demand and supply keeps widening in China, therefore China will increasingly depend on imported oil. However, the world＇s oil and gas resources are unevenly distributed; global world＇s oil prices remain high; and over 70 percent of China＇s imported oil has to be shipped through the Malacca Strait. There are various ways to ensure China＇s oil security today, and the practical and feasible strategic option is to increase the discovery and production of domestic oil, raise energy efficiency and develop petroleum substitutes. Scientific and technological innovation is crucial both in new oil reserves discovery and production, energy conservation, and in the development of petroleum substitutes, establishment of a strategic oil reserve system and for environment protection. This indicates that China should take effective measures in investment strategy, fiscal policies, financing instruments, intellectual property protection, fostering talents and professionals, so as to establish its own scientific and technological innovation system in the petroleum industry and be better able to ensure oil security.
文摘China is facing important challenges stemming from increasing rates of urbanization and aging population. To pursue its ＂harmonious society＂ objective without disrupting its path to development major overhauls are necessary in education, health, social security and above all in public services, particularly in electricity. China＇s electricity industry is at the crossroads. To meet the challenges, new models of regulation should be developed and applied. This paper examines the current state of the Chinese electricity industry and the burden it imposes on its public finances. It also reviews and critically examines the existing FIT （Europe） and RPS （USA） models of regulation and of promotion of renewable energies and advances on whether they are advantageous for China. It is argued that the electricity industry has already undergone important reforms but cross subsidies still exist, equivalent to 1.5% of China＇s GDP. Drastic rate rebalancing policies will create sustainability problems and a deterioration of China＇s public finances. To avoid such negative results, China has to further reform its electricity industry gradually and use wisely FIT-type programs to bring renewables into the grid and fulfill the Kyoto Protocol
基金National Social Science Foundation of China, No.10ZD＆M030 Non-profit Industry Financial Program of Ministry of Land and Resources of China, No.200811033 Environment Protection Scientific Foundation of Jiangsu Province, China, No.2009037Acknowledgements This paper obtained valuable revising comments and suggestions from reviewers. Dr. Zhang Xingyu and Dr. Jiao Shixing gave inspiring comments on paper ideas and calculation. Sun Zhenru helped to draw the illustrations. We would like to express our gratitude for their supports.
文摘Using energy consumption and land use data of each region of China in 2007, this paper established carbon emission and carbon footprint model based on energy consumption and estimated the carbon emission amount of fossil energy and rural biomass energy of dif- ferent regions of China in 2007. Through matching the energy consumption items with industrial spaces, this paper divided industrial spaces into five types： agricultural space, living ＆ industrial-commercial space, transportation industrial space, fishery and water conservancy space, and other industrial space. Then the author analyzed the carbon emission intensity and carbon footprint of each industrial space. Finally, advices of decreasing industrial carbon footprint and optimizing industrial space pattern were put forward. The main conclusions are as following： （1） Total amount of carbon emission from energy consumption of China in 2007 was about 1.65 GtC, in which the proportion of carbon emission from fossil energy was 89%. （2） Carbon emission intensity of industrial space of China in 2007 was 1.98 t/hm^2, in which, carbon emission intensity of living ＆ industrial-commercial space and of transportation industrial space was 55.16 t/hm^2 and 49.65 t/hm^2 respectively, they were high-carbon-emission industrial spaces among others. （3） Carbon footprint caused by industrial activities of China in 2007 was 522.34×10^6 hm^2, which brought about ecological deficit of 28.69×10^6 hm^2, which means that the productive lands were not sufficient to compensate for carbon footprint of industrial activities, and the compensating rate was 94.5%. As to the regional carbon footprint several regions have ecological profit while others have not. In general, the present ecological deficit caused by industrial activities was small in 2007. （4） Per unit area carbon footprint of industrial space in China was about 0.63 hm^2/hm^2 in 2007, in which that of living ＆ industrial-commercial space was the highest （17.5 hm^2/hm^2）. The per unit area carbon footprint of different industrial spaces all presented a declining trend from east to west of China.
文摘As a strategic emerging industry,the new energy vehicle industry has been a key industry in China in recent years and has great significance for China to realize industrial transformation and upgrading,and seize the commanding heights of international competition.In particular,the industry has been vigorously boosted by the introduction of the subsidy policy in 2014 and has achieved faster development.Today,China’s new
文摘According to the latest report of Pike Research,the demand for rare earth in the new energy technology field will break the mark of 12,000 tons to reach 12,920 tons in 2017 from about 9,000 tons in 2011,indicating rapid development of China’s rare earth hydrogen storage material industry.
