For China,one of its most important commitments is to realize its“3060”targets of achieving a CO_(2) emission peak by 2030 and carbon neutrality by 2060.However,for a developing country with heavy carbon utilization...For China,one of its most important commitments is to realize its“3060”targets of achieving a CO_(2) emission peak by 2030 and carbon neutrality by 2060.However,for a developing country with heavy carbon utilization,achieving carbon neutrality in a short period necessitates tough changes.This paper briefly introduces energy and electricity scenarios and analyzes the challenges based on the current power system in China.Moreover,it summarizes the six characteristics of China’s future power grid and highlights some partially representative projects in the country.展开更多
This paper theoretically considers the long-run sustainability of China's monetary-cum-exchange rate policy under the impossible trinity.Two different models are examined:One sterilizes current net foreign assets(...This paper theoretically considers the long-run sustainability of China's monetary-cum-exchange rate policy under the impossible trinity.Two different models are examined:One sterilizes current net foreign assets(NFAs)and the other focuses on NFAs realized in the previous period.Under the de facto opening of financial flows,sterilization yields a negative risk premium in uncovered interest parity(UIP)that triggers a feedback increase among capital inflows.Here,stability depends on the magnitudes and the combination of structural and policy parameters.It is shown that if current capital inflows are sterilized,the monetary-cum-exchange rate policy in China offers a sustainable solution for exchange rates that are relatively stringently managed.However,such a solution can be obtained for relatively flexible or moderately managed rates if sterilization policy is implemented on the previous period's inflows.展开更多
基金supported by the SGCC(State Grid Corporation of China)technology project Analysis of System Stability Region and Control Strategy Based on Lyapunov Method(No.5100-202155304A-0-0-00).
文摘For China,one of its most important commitments is to realize its“3060”targets of achieving a CO_(2) emission peak by 2030 and carbon neutrality by 2060.However,for a developing country with heavy carbon utilization,achieving carbon neutrality in a short period necessitates tough changes.This paper briefly introduces energy and electricity scenarios and analyzes the challenges based on the current power system in China.Moreover,it summarizes the six characteristics of China’s future power grid and highlights some partially representative projects in the country.
文摘This paper theoretically considers the long-run sustainability of China's monetary-cum-exchange rate policy under the impossible trinity.Two different models are examined:One sterilizes current net foreign assets(NFAs)and the other focuses on NFAs realized in the previous period.Under the de facto opening of financial flows,sterilization yields a negative risk premium in uncovered interest parity(UIP)that triggers a feedback increase among capital inflows.Here,stability depends on the magnitudes and the combination of structural and policy parameters.It is shown that if current capital inflows are sterilized,the monetary-cum-exchange rate policy in China offers a sustainable solution for exchange rates that are relatively stringently managed.However,such a solution can be obtained for relatively flexible or moderately managed rates if sterilization policy is implemented on the previous period's inflows.
