Deepening China's Investment System Reform——The State Development Investment Corporation

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

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.

Risk assessment of oil and gas investment environment in countries along the Belt and Road Initiative

With the implementation of the Belt and Road Initiative, China is deepening its cooperation in oil and gas resources with countries along the Initiative. In order to better mitigate risks and enhance the safety of investments, it is of significant importance to research the oil and gas investment environment in these countries for China's overseas investment macro-layout. This paper proposes an indicator system including 27 indicators from 6 dimensions. On this basis, game theory models combined with global entropy method and analytic hierarchy process are applied to determine the combined weights, and the TOPSIS-GRA model is utilized to assess the risks of oil and gas investment in 76 countries along the Initiative from 2014 to 2021. Finally, the GM(1,1) model is employed to predict risk values for 2022-2025. In conclusion, oil and gas resources and political factors have the greatest impact on investment environment risk, and 12 countries with greater investment potential are selected through cluster analysis in conjunction with the predicted results. The research findings may provide scientific decisionmaking recommendations for the Chinese government and oil enterprises to strengthen oil and gas investment cooperation with countries along the Belt and Road Initiative.

Investigating the components of fintech ecosystem for distributed energy investments with an integrated quantum spherical decision support system

This study aimed to evaluate the components of a fintech ecosystem for distributed energy investments.A new decision-making model was created using multiple stepwise weight assessment ratio analysis and elimination and choice translating reality techniques based on quantum spherical fuzzy sets.First,in this model,the criteria for distributed energy investment necessities were weighted.Second,we ranked the components of the fintech ecosystem for distributed energy investments.The main contribution of this study is that appropriate strategies can be presented to design effective fintech ecosystems to increase distributed energy investments,by considering an original fuzzy decision-making model.Capacity is the most critical issue with respect to distributed energy investment necessities because it has the greatest weight(0.261).Pricing is another significant factor for this condition,with a weight of 0.254.Results of the ranking of the components of the fintech ecosystem indicate that end users are of the greatest importance for the effectiveness of this system.It is necessary to develop new techniques for the energy storage process,especially with technological developments,to prevent disruptions in energy production capacity.In addition,customers’expectations should be considered for the development of effective and user-friendly financial products that are preferred by a wider audience.This would have a positive effect on fintech ecosystem performance.

Microstructure and mechanical properties of Co-28Cr-6Mo-0.22C investment castings by current solution treatment

This study examined the impact of current solution treatment on the microstructure and mechanical properties of the Co-28Cr-6Mo-0.22C alloy investment castings.The findings reveal that the current solution treatment significantly promotes the dissolution of carbides at a lower temperature.The optimal conditions for solution treatment are determined as a solution temperature of 1,125°C and a holding time of 5.0 min.Under these parameters,the size and volume fraction of precipitated phases in the investment castings are measured as6.2μm and 1.1vol.%.The yield strength,ultimate tensile strength,and total elongation of the Co-28Cr-6Mo-0.22C investment castings are 535 MPa,760 MPa,and 12.6%,respectively.These values exceed those obtained with the conventional solution treatment at 1,200°C for 4.0 h.The findings suggest a phase transformation of M_(23)C_(6)→σ+C following the current solution treatment at 1,125°C for 5.0 min.In comparison,the traditional solution treatment at 1,200°C for 4.0 h leads to the formation of M_(23)C_(6)and M_(6)C carbides.It is noteworthy that the non-thermal effect of the current during the solution treatment modifies the free energy of both the matrix and precipitation phase.This modification lowers the phase transition temperature of the M_(23)C_(6)→σ+C reaction,thereby facilitating the dissolution of carbides.As a result,the current solution treatment approach achieves carbide dissolution at a lower temperature and within a significantly shorter time when compared to the traditional solution treatment methods.

Agricultural Investment Project Decisions Based on an Interactive Preference Disaggregation Model Considering Inconsistency

Agricultural investment project selection is a complex multi-criteria decision-making problem,as agricultural projects are easily influenced by various risk factors,and the evaluation information provided by decisionmakers usually involves uncertainty and inconsistency.Existing literature primarily employed direct preference elicitation methods to address such issues,necessitating a great cognitive effort on the part of decision-makers during evaluation,specifically,determining the weights of criteria.In this study,we propose an indirect preference elicitation method,known as a preference disaggregation method,to learn decision-maker preference models fromdecision examples.To enhance evaluation ease,decision-makers merely need to compare pairs of alternatives with which they are familiar,also known as reference alternatives.Probabilistic linguistic preference relations are employed to account for the presence of incomplete and uncertain information in such pairwise comparisons.To address the inconsistency among a group of decision-makers,we develop a pair of 0-1mixed integer programming models that consider both the semantics of linguistic terms and the belief degrees of decision-makers.Finally,we conduct a case study and comparative analysis.Results reveal the effectiveness of the proposed model in solving agricultural investment project selection problems with uncertain and inconsistent decision information.

Spatiotemporal variations in ecosystem services and their trade-offs and synergies against the background of the gully control and land consolidation project on the Loess Plateau,China

Studying the spatiotemporal variations in ecosystem services and their interrelationships on the Loess Plateau against the background of the gully control and land consolidation(GCLC)project has significant implications for ecological protection and quality development of the Yellow River Basin.Therefore,in this study,we took Yan'an City,Shaanxi Province of China,as the study area,selected four typical ecosystem services,including soil conservation service,water yield service,carbon storage service,and habitat quality service,and quantitatively evaluated the spatiotemporal variation characteristics and trade-offs and synergies of ecosystem services from 2010 to 2018 using the Integrated Valuation of Ecosystem Services and Trade-offs(InVEST)model.We also analysed the relationship between the GCLC project and regional ecosystem service changes in various regions(including 1 city,2 districts,and 10 counties)of Yan'an City and proposed a coordinated development strategy between the GCLC project and the ecological environment.The results showed that,from 2010 to 2018,soil conservation service decreased by 7.76%,while the other three ecosystem services changed relatively little,with water yield service increasing by 0.56% and carbon storage service and habitat quality service decreasing by 0.16% and 0.14%,respectively.The ecological environment of Yan'an City developed in a balanced way between 2010 and 2018,and the four ecosystem services showed synergistic relationships,among which the synergistic relationships between soil conservation service and water yield service and between carbon storage service and habitat quality service were significant.The GCLC project had a negative impact on the ecosystem services of Yan'an City,and the impact on carbon storage service was more significant.This study provides a theoretical basis for the scientific evaluation of the ecological benefits of the GCLC project and the realization of a win-win situation between food security and ecological security.

Spatiotemporal Characteristics of Typical Ecosystem Services and Their Spatial Responses to Driving Factors in Ecologically Fragile Areas in Upper Yellow River,China

The identification of dominant driving factors for different ecosystem services(ESs)is crucial for ecological conservation and sustainable development.However,the spatial heterogeneity of the dominant driving factors affecting various ESs has not been adequately elucidated,particularly in ecologically fragile regions.This study employed the integrated valuation of ESs and trade-offs(InVEST)model to evaluate four ESs,namely,water yield(WY),soil conservation(SC),habitat quality(HQ),and carbon storage(CS),and then to identify the dominant driving factors of spatiotemporal differentiation of ES and further to characterize the spatial heterogeneity characteristics of the dominant driving factors in the eco-fragile areas of the upper Yellow River,China from 2000 to 2020.The results demonstrated that WY exhibited northeast-high and northwest-low patterns in the upper Yellow River region,while high values of SC and CS were distributed in central forested areas and a high value of HQ was distributed in vast grassland areas.The CS,WY,and SC exhibited decreasing trends over time.The most critical factors affecting WY,SC,HQ,and CS were the actual evapotranspiration,precipitation,slope,and normalized difference vegetation index,respectively.In addition,the effects of different factors on various ESs exhibited spatial heterogeneity.These results could provide spatial decision support for eco-protection and rehabilitation in ecologically fragile areas.

Exploring the Spatiotemporal Changes and Driving Forces of Ecosystem Services of Zhejiang Coasts,China,Under Sustainable Development Goals

Ecosystem services(ESs)refer to the continuous provisioning of ecosystem goods and services that benefit human beings.Over recent decades,rapid urbanization has exerted significant pressure on coastal ecosystems,resulting in biodiversity and habitat loss,environmental pollution,and the depletion of natural resources.In response to these environmental challenges,the Sustainable Development Goals(SDGs)were proposed.Given the pressing need to address these issues,understanding the changes in ESs under the SDGs is crucial for formulating specific ecological strategies.In this study,we first analyzed land use and cover change in the Zhejiang coasts of China during 2000–2020.Then,we investigated the spatiotemporal configuration of ESs by integrating carbon storage(CS),soil retention(SR),habitat quality(HQ)and water yield(WY)using the Integrated Valuation of Ecosystem Services and Tradeoffs(InVEST)model.The driving mechanisms of ESs,which varied by space and time,were also explored using the Geo-detector method.The results revealed that,over the past two decades:1)the Zhejiang coasts have experienced a significant increase of 2783.72 km^(2) in built-up land areas and a continuous decrease in farmland areas due to rapid urbanization;2)owing to higher precipitation,extensive vegetation cover,and reduced anthropogenic disturbances,forests emerge as a crucial land use type for maintaining ecosystem services such as HQ,CS,WY,and SR;3)ESs have generally declined across the entire Zhejiang coasts,with a significant decrease observed in the northern areas and an increase in the southern areas spatially;4)the expansion of built-up land areas emerged as the primary factor affecting ecosystem services,while the vegetation factor has been increasingly significant and is expected to become predominant in the near future.Our study provides insights of understanding of ecosystem service theory and emphasizing the importance of preserving biodiversity for long-term sustainable development,and valuable scientific references to support the ecological management decision-making for local governments.

How R&D investment promotes green technology innovation in the context of digitalization?-An empirical analysis based on provincial panel data

Green technology innovation is an important driving force and source to promote my country’s high-quality development,and it is the core path to achieve sustainable development.This paper uses my country’s provincial panel data from 2016 to 2019 to study the impact mechanism of R&D investment on green technology innovation,and introduces the level of digitization,using the panel threshold model to discuss its role in the impact mechanism of R&D investment on green technology innovation.The study found that when the level of digitalization in a region is low,increasing R&D investment does not necessarily improve the ability of green technology innovation;when the level of digitalization is relatively high,R&D investment has a positive role in promoting green technology innovation.Therefore,it is necessary to improve policies to encourage enterprises to increase investment in research and development;at the same time,it is necessary to promote the coordinated development of digital foundation,digital investment,digital literacy,digital economy and digital application,and promote the deep integration of digitalization and green technology innovation.

Spatiotemporal variations of ecosystem services and driving factors in the Tianchi Bogda Peak Natural Reserve of Xinjiang,China

Nature reserves play a significant role in providing ecosystem services and are key sites for biodiversity conservation.The Tianchi Bogda Peak Natural Reserve(TBPNR),located in Xinjiang Uygur Autonomous Region,China,is an important ecological barrier area in the temperate arid zone.The evaluation of its important ecosystem services is of great significance to improve the management level and ecological protection efficiency of the reserve.In the present study,we assessed the spatiotemporal variations of four ecosystem services(including net primary productivity(NPP),water yield,soil conservation,and habitat quality)in the TBPNR from 2000 to 2020 based on the environmental and social data using the Integrated Valuation of Ecosystem Services and Trade-offs(InVEST)model.In addition,the coldspot and hotspot areas of ecosystem services were identified by hotspot analysis,and the trade-off and synergistic relationships between ecosystem services were analyzed using factor analysis in a geographic detector.During the study period,NPP and soil conservation values in the reserve increased by 48.20%and 25.56%,respectively;conversely,water yield decreased by 16.56%,and there was no significant change in habitat quality.Spatially,both NPP and habitat quality values were higher in the northern part and lower in the southern part,whereas water yield showed an opposite trend.Correlation analysis revealed that NPP showed a synergistic relationship with habitat quality and soil conservation,and exhibited a trade-off relationship with water yield.Water yield and habitat quality also had a trade-off relationship.NPP and habitat quality were affected by annual average temperature and Normalized Difference Vegetation Index(NDVI),respectively,while water yield and soil conservation were more affected by digital elevation model(DEM).Therefore,attention should be paid to the spatial distribution and dynamics of trade-off and synergistic relationships between ecosystem services in future ecological management.The findings of the present study provide a reference that could facilitate the sustainable utilization of ecosystem services in the typical fragile areas of Northwest China.

By Deepening Regional Cooperation,the CCPIT Serve as a Bridge for Foreign Investment

On June 28,t he China Council for the Promotion of International Trade(CCPIT)held its regular monthly press conference in Beijing.Spokesperson Zhao Ping introduced China’s latest progress and policy trends in terms of attracting foreign investment,regional cooperation and supporting Chinese brands at the meeting.

China’s Unprecedented Focus on Foreign Investment

The Communique of the Third Plenary Session of the 20th Central Committee of the Communist Party of China(CPC),which has just been concluded,mentions that it is necessary to steadily expand institutional opening-up,deepen foreign trade structural reform,further reform the management systems for inward and outward investment,improve planning for regional opening up,and refine the mechanisms for high-quality cooperation under the Belt and Road Initiative.

Response of ecosystem carbon storage to land use change from 1985 to 2050 in the Ningxia Section of Yellow River Basin,China

Regional sustainable development necessitates a holistic understanding of spatiotemporal variations in ecosystem carbon storage(ECS),particularly in ecologically sensitive areas with arid and semi-arid climate.In this study,we calculated the ECS in the Ningxia Section of Yellow River Basin,China from 1985 to 2020 using the Integrated Valuation of Ecosystem Services and Tradeoffs(InVEST)model based on land use data.We further predicted the spatial distribution of ECS in 2050 under four land use scenarios:natural development scenario(NDS),ecological protection scenario(EPS),cultivated land protection scenario(CPS),and urban development scenario(UDS)using the patch-generating land use simulation(PLUS)model,and quantified the influences of natural and human factors on the spatial differentiation of ECS using the geographical detector(Geodetector).Results showed that the total ECS of the study area initially increased from 1985 until reaching a peak at 402.36×10^(6) t in 2010,followed by a decreasing trend to 2050.The spatial distribution of ECS was characterized by high values in the eastern and southern parts of the study area,and low values in the western and northern parts.Between 1985 and 2020,land use changes occurred mainly through the expansion of cultivated land,woodland,and construction land at the expense of unused land.The total ECS in 2050 under different land use scenarios(ranked as EPS>CPS>NDS>UDS)would be lower than that in 2020.Nighttime light was the largest contributor to the spatial differentiation of ECS,with soil type and annual mean temperature being the major natural driving factors.Findings of this study could provide guidance on the ecological construction and high-quality development in arid and semi-arid areas.

National Social Investment Programmes in Nigeria:A Descriptive Analysis of the Socio-Economic Contributions of N-Power Programme in Benue State

This study analysed the socio-economic contributions of N-Power programme amongst the beneficiaries of the scheme in Benue State.Prior to the introduction of N-Power programme,successive administrations in Nigeria have made concerted efforts towards improving the standard of living of the citizenry through the execution of various welfare or social intervention programmes,but not much successes were recorded.Learning from the mistakes of the past regimes,and by way of deliberate state policy,the Buhari’s government initiated a multi-pronged social investment policy,one of which is the N-power programme that came onboard in 2016,which also doubles as the subject of this study.To achieve the goal of this study,a combination of desktop research and survey design was employed.Questionnaires were administered to 390 respondents through a combination of stratified and random sampling techniques.The results of the survey were matched with that of the secondary data obtained through online websites and other related sources.The result indicated that N-Power made positive contributions to the socio-economic life of the beneficiaries in Benue State:specifically,the scheme contributed in poverty eradication,employment generation,skills acquisitions and capacity building.However,some aspect of our findings revealed that the programme has a number of challenges such as:inadequate cash support,delay in monthly cash transfer to beneficiaries,distance participants had to move to their work stations,absence of posting in N-Teach scheme,and lack of adequate working tools amongst others.To salvage this problem the paper recommended the following solutions:expansion of the scheme to cover N-Teach and other aspects,increment in the monthly cash transfer to cushion the high rate of inflation,support for the participants/beneficiaries in transportation and logistics,enrolment of more youth into the various schemes,proper monitoring and evaluation of the implementation of the schemes amongst others.

Chinese Enterprises’ Investment in Southeast Asia Continues Unabated

As we all know,Southeast Asia has become a hot destination for Chinese enterprises to invest in.The latest report shows that Southeast Asia continues to attract China’s capital,within which the medical industry has become an important area for Chinese enterprises to invest in,and the investment activity has gradually warmed up despite fluctuations.

How to Further Attract and Stabilize Foreign Investment

During the Two Sessions,how to attract foreign investment to China and how to further optimize the business environment for foreign investment have become hot topics in the economic field.The 2024 government work report proposes increased efforts to attract foreign investment.It will continue to reduce the negative list of foreign investment access,completely lift restrictions on foreign investment accessto the manufacturing industry.

Renewing Chinese Investment in Indonesia’s Energy Sector

On April 1,the China RE Invest Indonesia 2024,a symposium cohosted by the Embassy of the Republic of Indonesia in China,the Southeast Strategics(a business and investment research and advisory institute),and the Center for Strategic and International Studies(CSIS)Indonesia,took place in Beijing.Representatives from renewable energy investment companies,equipment manufacturers,financial institutions,government departments,renewable energy-related enterprises.

Which Cities are More Attractive for Business Investment?

A good business environment is the soft power and core competitiveness for urban economic development,and is a key element to attract business investment.Recently,the“Top 50 Cities with Business Investment Attraction”(hereinafter referred to as the Survey)released by the Big Data Research Institute of Qi Chacha shows that the siphonic effect of the first-tier cities is significant,and in the past five years,enterprises in Shanghai,Beijing and Shenzhen have been invested in the most frequently.

Research on the Threshold Effect of China’s Pharmaceutical Export Trade on Internal and External R&D Investment

Objective To study the threshold effect of export trade on internal and external R&D investment in China’s pharmaceutical industry,and to provide reference for some pharmaceutical enterprises to improve the investment.Methods The panel data of pharmaceutical industry in 25 provinces and cities in China from 2009 to 2019 were selected to conduct empirical analysis by establishing a threshold regression model,and a better export trade interval was obtained.Results and Conclusion There is a threshold value for the effect of new product export on both internal and external R&D expenditures,and the threshold values are 845.2788 million yuan and 318.4198 million yuan,respectively.There is a single threshold effect of export trade on both internal and external R&D investment in China’s pharmaceutical industry,and the effect of export trade on internal and external R&D investment changes from negative to positive as the export trade develops from low to high.