This paper gives a systematic view of the new trends of global carbon finance innovation under the challenge of global climate change and in the process of transition to achieve economic growth from "high carbon&...This paper gives a systematic view of the new trends of global carbon finance innovation under the challenge of global climate change and in the process of transition to achieve economic growth from "high carbon" to 'low carbon",covering the following aspects:the structure,status quo and developing trend of global carbon market.The paper discusses the innovation in financial organization and service systems and governments' overall guidance and policy support,and draws the conclusion that the world is undergoing massive changes with governments actively responding to carbon finance to embrace the tremendous opportunities for clean energy and climate change in financial industry.To seize the opportunity,a complete and overall carbon finance system of China should be put in the top of the agenda.Given the current tasks of energy conservation and pollution reduction and the growing demand for capital input,China needs to construct an clear of policy guidance,a diversified financia service system,and a multi-approach carbon finance system to intensify and widen the participation of financial industry,to expand financing channels for sustainable economy and spread risks,and finally,work out an inexpensive solution to the realization of China's low carbon target.展开更多
In this study,we examine the connectedness between the NASDAQ artificial intelligence index and sectoral cryptocurrency indices.Empirical analyses were conducted via the quantile‒quantile methodology and cross-multiqu...In this study,we examine the connectedness between the NASDAQ artificial intelligence index and sectoral cryptocurrency indices.Empirical analyses were conducted via the quantile‒quantile methodology and cross-multiquantilogram tests across 15 cryptocurrency sectors from June 1,2021,to May 28,2024.The results show that dynamic total spillovers primarily occur in extremely low and high quantiles,corresponding to the left and right tails of the return distributions.Net directional spillovers indicate the dominance of the AI sector over the cryptocurrency market,which intensifies during significant crashes or booms.The most substantial effect of AI is observed in the DeFi,NFT,and Smart Contracts sectors,highlighting the prominence of financial operation-based blockchain applications in their interaction with artificial intelligence.The cross-multiquantilogram results also suggest that developments in artificial intelligence dominate the cryptocurrency market and have high predictability in its price movements.On the basis of our findings,we recommend using the AI market as an early indicator for the cryptocurrency market and advise against combining these two asset groups in the same portfolio to maintain diversification benefits.展开更多
Defi nition of plant landscaping and features of plant landscaping in classical Suzhou gardens were introduced, the forms of combining plants and buildings, rockeries and waterscapes were analyzed by elaborating selec...Defi nition of plant landscaping and features of plant landscaping in classical Suzhou gardens were introduced, the forms of combining plants and buildings, rockeries and waterscapes were analyzed by elaborating selection of plant species and plant furnishings. In addition, manifestation of artistic beauty of the classical Suzhou gardens was explored, and protective measures were given.展开更多
In order to provide scientific basis for vegetation and biodiversity conservation,species diversity of rock plant in Danxia landform of Zhejiang Province was analyzed in this study.According to the results,there were ...In order to provide scientific basis for vegetation and biodiversity conservation,species diversity of rock plant in Danxia landform of Zhejiang Province was analyzed in this study.According to the results,there were 195 species belonging to 143 genera and 82 families.The changing trend in Margalef index,Simpson index and Shannon-Wiener index of the same community in different layers was the same,namely herb layer>shrub layer>moss layer>liana layer;the order of Pielou index was moss layer>liana layer>herb layer>shrub layer.Comparing species diversity in different regions,we found that the index of all layers on Jianglang Mountain was higher except the moss layer.展开更多
Vocational colleges attach great importance to labor education.Specialized courses are an effective way to cultivate students labor quality,and the integration of labor education in specialized courses plays an import...Vocational colleges attach great importance to labor education.Specialized courses are an effective way to cultivate students labor quality,and the integration of labor education in specialized courses plays an important role in the overall cultivation of students moral quality and practical ability.Combined with the teaching practice of landscape technology specialty,labor education is integrated into the teaching of Plant Cultivation and Maintenance,and certain results have been achieved.In this paper,the course content"grafting propagation"was analyzed from the aspects of overall teaching design,teaching implementation process,teaching effect and reflection improvement,so as to provide reference for other contents of this major or other majors to carry out integrated teaching.展开更多
The generation, connotation, property, subject and object, and contents of environment rights and environment resources property were studied. And based on these, the similarities and differences were discussed so as ...The generation, connotation, property, subject and object, and contents of environment rights and environment resources property were studied. And based on these, the similarities and differences were discussed so as to master the connotation of environment resources property.展开更多
An efficient and stable structure preserving algorithm, which is a variant of the QR like (SR) algorithm due to Bunse-Gerstner and Mehrmann, is presented for computing the eigenvalues and stable invariant subspaces of...An efficient and stable structure preserving algorithm, which is a variant of the QR like (SR) algorithm due to Bunse-Gerstner and Mehrmann, is presented for computing the eigenvalues and stable invariant subspaces of a Hamiltonian matrix. In the algorithm two strategies are employed, one of which is called dis-unstabilization technique and the other is preprocessing technique. Together with them, a so-called ratio-reduction equation and a backtrack technique are introduced to avoid the instability and breakdown in the original algorithm. It is shown that the new algorithm can overcome the instability and breakdown at low cost. Numerical results have demonstrated that the algorithm is stable and can compute the eigenvalues to very high accuracy.展开更多
China neither seeks for larger trade surplus,nor believes larger surplus will bring more benefit. As early as at the 16th CPC Congress held at the end of 2002,China did clearly
WTO allows its members to use anti-dumping barrier to combat unfair competition. Nowadays, anti-dumping barrier has been dominant protective trade measure in the world, while in China, this measure is still not fully ...WTO allows its members to use anti-dumping barrier to combat unfair competition. Nowadays, anti-dumping barrier has been dominant protective trade measure in the world, while in China, this measure is still not fully used and at low level. For the purpose of protecting domestic industries and enhancing national welfare, China should use this barrier cautiously and construct its own anti-dumping system at the same time.展开更多
Automobile insurance is one of the most popular research areas, and there are a lot of different methods for it .We uses linear empirical Bayesian estimation for the study of automobile insurance, giving the estimator...Automobile insurance is one of the most popular research areas, and there are a lot of different methods for it .We uses linear empirical Bayesian estimation for the study of automobile insurance, giving the estimator of the policy’s future claim size. Thus, a new point of view is given on the pricing of automobile insurance.展开更多
The rapid development of traveling electronic commerce cause the traditional tourism to face the opportunity and challenge which the information revolution brings, and how to develop the traveling electronic commerce ...The rapid development of traveling electronic commerce cause the traditional tourism to face the opportunity and challenge which the information revolution brings, and how to develop the traveling electronic commerce becomes the topic which the tourist business development must face. This paper obtained from the discussion of the electronic commerce in Chinese present development situation, to analyze the extant barrier of traveling electronic commerce and the concrete countermeasure that China should adopt.展开更多
This article proposes to assess the impact of the subprime mortgage crisis on the exchange rate channel in 6 countries of the Euro-Med zone. To do this, our analysis is based on three evaluation methods that allow us ...This article proposes to assess the impact of the subprime mortgage crisis on the exchange rate channel in 6 countries of the Euro-Med zone. To do this, our analysis is based on three evaluation methods that allow us to conclude that the exchange rate channel is better evaluated by the non-linear approach of the countries studied. Thus, the depreciation of the exchange rate adopted by the countries of the Med zone did worse macroeconomic stability and economic convergence.展开更多
In this article,several cases are cited to demonstrate how foreign private equity firms circumvent Chinese government restrictions on capital flows and investing in strategic and sensitive sectors. Speci cally,private...In this article,several cases are cited to demonstrate how foreign private equity firms circumvent Chinese government restrictions on capital flows and investing in strategic and sensitive sectors. Speci cally,private equities investing in Chinese companies to be listed abroad can use the Red-chip,Sheng Da or overseas option models. Private equities investing in domestically-listed Chinese companies can resort to foreign-funded banks,underground banking,stock-holder borrowing,stocks held by the third party,equity bonds or local investment company purchases.展开更多
In this work, a nonlinear model predictive controller is developed for a batch polymerization process. The physical model of the process is parameterized along a desired trajectory resulting in a trajectory linearized...In this work, a nonlinear model predictive controller is developed for a batch polymerization process. The physical model of the process is parameterized along a desired trajectory resulting in a trajectory linearized piecewise model (a multiple linear model bank) and the parameters are identified for an experimental polymerization reactor. Then, a multiple model adaptive predictive controller is designed for thermal trajectory tracking of the MMA polymerization. The input control signal to the process is constrained by the maximum thermal power provided by the heaters. The constrained optimization in the model predictive controller is solved via genetic algorithms to minimize a DMC cost function in each sampling interval.展开更多
This paper investigates the role of Fibonacci retracements levels,a popular technical analysis indicator,in predicting stock prices of leading U.S.energy companies and energy cryptocurrencies.The study methodology foc...This paper investigates the role of Fibonacci retracements levels,a popular technical analysis indicator,in predicting stock prices of leading U.S.energy companies and energy cryptocurrencies.The study methodology focuses on applying Fibonacci retracements as a system compared with the buy-and-hold strategy.Daily crypto and stock prices were obtained from the Standard&Poor’s composite 1500 energy index and CoinMarketCap between November 2017 and January 2020.This study also examined if the combined Fibonacci retracements and the price crossover strategy result in a higher return per unit of risk.Our findings revealed that Fibonacci retracement captures energy stock price changes better than cryptos.Furthermore,most price violations were frequent during price falls compared to price increases,supporting that the Fibonacci instrument does not capture price movements during up and downtrends,respectively.Also,fewer consecutive retracement breaks were observed when the price violations were examined 3 days before the current break.Furthermore,the Fibonacci-based strategy resulted in higher returns relative to the naïve buy-and-hold model.Finally,complementing Fibonacci with the price cross strategy did not improve the results and led to fewer or no trades for some constituents.This study’s overall findings elucidate that,despite significant drops in oil prices,speculators(traders)can implement profitable strategies when using technical analysis indicators,like the Fibonacci retracement tool,with or without price crossover rules.展开更多
It seems that an effective way of how to make the right choice of Various investment projects is based on the theory of average internal income rate, or the theory of weight-added internal income rate. With several ex...It seems that an effective way of how to make the right choice of Various investment projects is based on the theory of average internal income rate, or the theory of weight-added internal income rate. With several examples of numerical value, this paper proves that this method is not as effective as expected, but indirectly testifies that only with the principle of maximization of NPV that independent projects can be the best combination of projects with limited investment that is achieved.展开更多
This paper analyses four effects of pegging exchange rate regime： effects on government policymaking, nominal anchor, domestic currency appreciation expectation, and currericy speculative attacks. Based on this, the ...This paper analyses four effects of pegging exchange rate regime： effects on government policymaking, nominal anchor, domestic currency appreciation expectation, and currericy speculative attacks. Based on this, the paper concludes that China should give up RMB pegging exchange rate regime at present, carry out RMB floating exchange rate regime in the long term and RMB exchange rate target zone regime in the mid and short term.展开更多
文摘This paper gives a systematic view of the new trends of global carbon finance innovation under the challenge of global climate change and in the process of transition to achieve economic growth from "high carbon" to 'low carbon",covering the following aspects:the structure,status quo and developing trend of global carbon market.The paper discusses the innovation in financial organization and service systems and governments' overall guidance and policy support,and draws the conclusion that the world is undergoing massive changes with governments actively responding to carbon finance to embrace the tremendous opportunities for clean energy and climate change in financial industry.To seize the opportunity,a complete and overall carbon finance system of China should be put in the top of the agenda.Given the current tasks of energy conservation and pollution reduction and the growing demand for capital input,China needs to construct an clear of policy guidance,a diversified financia service system,and a multi-approach carbon finance system to intensify and widen the participation of financial industry,to expand financing channels for sustainable economy and spread risks,and finally,work out an inexpensive solution to the realization of China's low carbon target.
文摘In this study,we examine the connectedness between the NASDAQ artificial intelligence index and sectoral cryptocurrency indices.Empirical analyses were conducted via the quantile‒quantile methodology and cross-multiquantilogram tests across 15 cryptocurrency sectors from June 1,2021,to May 28,2024.The results show that dynamic total spillovers primarily occur in extremely low and high quantiles,corresponding to the left and right tails of the return distributions.Net directional spillovers indicate the dominance of the AI sector over the cryptocurrency market,which intensifies during significant crashes or booms.The most substantial effect of AI is observed in the DeFi,NFT,and Smart Contracts sectors,highlighting the prominence of financial operation-based blockchain applications in their interaction with artificial intelligence.The cross-multiquantilogram results also suggest that developments in artificial intelligence dominate the cryptocurrency market and have high predictability in its price movements.On the basis of our findings,we recommend using the AI market as an early indicator for the cryptocurrency market and advise against combining these two asset groups in the same portfolio to maintain diversification benefits.
文摘Defi nition of plant landscaping and features of plant landscaping in classical Suzhou gardens were introduced, the forms of combining plants and buildings, rockeries and waterscapes were analyzed by elaborating selection of plant species and plant furnishings. In addition, manifestation of artistic beauty of the classical Suzhou gardens was explored, and protective measures were given.
基金Sponsored by Zhejiang Provincial Key Scientifi c and Technological Project(2006C112061).
文摘In order to provide scientific basis for vegetation and biodiversity conservation,species diversity of rock plant in Danxia landform of Zhejiang Province was analyzed in this study.According to the results,there were 195 species belonging to 143 genera and 82 families.The changing trend in Margalef index,Simpson index and Shannon-Wiener index of the same community in different layers was the same,namely herb layer>shrub layer>moss layer>liana layer;the order of Pielou index was moss layer>liana layer>herb layer>shrub layer.Comparing species diversity in different regions,we found that the index of all layers on Jianglang Mountain was higher except the moss layer.
基金Supported by the Philosophy and Social Science Research Project of Colleges and Universities in Jiangsu Province(2021SJA0752)The Fifth Issue of Vocational Education Teaching Reform Research Topic of Jiangsu Province(ZYB581)Teaching Reform Research Project of Urban Vocational Colleges in Jiangsu(YB2021018).
文摘Vocational colleges attach great importance to labor education.Specialized courses are an effective way to cultivate students labor quality,and the integration of labor education in specialized courses plays an important role in the overall cultivation of students moral quality and practical ability.Combined with the teaching practice of landscape technology specialty,labor education is integrated into the teaching of Plant Cultivation and Maintenance,and certain results have been achieved.In this paper,the course content"grafting propagation"was analyzed from the aspects of overall teaching design,teaching implementation process,teaching effect and reflection improvement,so as to provide reference for other contents of this major or other majors to carry out integrated teaching.
基金Supported by Key Project of National Social Science Fund(10AJL002)
文摘The generation, connotation, property, subject and object, and contents of environment rights and environment resources property were studied. And based on these, the similarities and differences were discussed so as to master the connotation of environment resources property.
文摘An efficient and stable structure preserving algorithm, which is a variant of the QR like (SR) algorithm due to Bunse-Gerstner and Mehrmann, is presented for computing the eigenvalues and stable invariant subspaces of a Hamiltonian matrix. In the algorithm two strategies are employed, one of which is called dis-unstabilization technique and the other is preprocessing technique. Together with them, a so-called ratio-reduction equation and a backtrack technique are introduced to avoid the instability and breakdown in the original algorithm. It is shown that the new algorithm can overcome the instability and breakdown at low cost. Numerical results have demonstrated that the algorithm is stable and can compute the eigenvalues to very high accuracy.
文摘China neither seeks for larger trade surplus,nor believes larger surplus will bring more benefit. As early as at the 16th CPC Congress held at the end of 2002,China did clearly
文摘WTO allows its members to use anti-dumping barrier to combat unfair competition. Nowadays, anti-dumping barrier has been dominant protective trade measure in the world, while in China, this measure is still not fully used and at low level. For the purpose of protecting domestic industries and enhancing national welfare, China should use this barrier cautiously and construct its own anti-dumping system at the same time.
文摘Automobile insurance is one of the most popular research areas, and there are a lot of different methods for it .We uses linear empirical Bayesian estimation for the study of automobile insurance, giving the estimator of the policy’s future claim size. Thus, a new point of view is given on the pricing of automobile insurance.
文摘The rapid development of traveling electronic commerce cause the traditional tourism to face the opportunity and challenge which the information revolution brings, and how to develop the traveling electronic commerce becomes the topic which the tourist business development must face. This paper obtained from the discussion of the electronic commerce in Chinese present development situation, to analyze the extant barrier of traveling electronic commerce and the concrete countermeasure that China should adopt.
文摘This article proposes to assess the impact of the subprime mortgage crisis on the exchange rate channel in 6 countries of the Euro-Med zone. To do this, our analysis is based on three evaluation methods that allow us to conclude that the exchange rate channel is better evaluated by the non-linear approach of the countries studied. Thus, the depreciation of the exchange rate adopted by the countries of the Med zone did worse macroeconomic stability and economic convergence.
文摘In this article,several cases are cited to demonstrate how foreign private equity firms circumvent Chinese government restrictions on capital flows and investing in strategic and sensitive sectors. Speci cally,private equities investing in Chinese companies to be listed abroad can use the Red-chip,Sheng Da or overseas option models. Private equities investing in domestically-listed Chinese companies can resort to foreign-funded banks,underground banking,stock-holder borrowing,stocks held by the third party,equity bonds or local investment company purchases.
文摘In this work, a nonlinear model predictive controller is developed for a batch polymerization process. The physical model of the process is parameterized along a desired trajectory resulting in a trajectory linearized piecewise model (a multiple linear model bank) and the parameters are identified for an experimental polymerization reactor. Then, a multiple model adaptive predictive controller is designed for thermal trajectory tracking of the MMA polymerization. The input control signal to the process is constrained by the maximum thermal power provided by the heaters. The constrained optimization in the model predictive controller is solved via genetic algorithms to minimize a DMC cost function in each sampling interval.
文摘This paper investigates the role of Fibonacci retracements levels,a popular technical analysis indicator,in predicting stock prices of leading U.S.energy companies and energy cryptocurrencies.The study methodology focuses on applying Fibonacci retracements as a system compared with the buy-and-hold strategy.Daily crypto and stock prices were obtained from the Standard&Poor’s composite 1500 energy index and CoinMarketCap between November 2017 and January 2020.This study also examined if the combined Fibonacci retracements and the price crossover strategy result in a higher return per unit of risk.Our findings revealed that Fibonacci retracement captures energy stock price changes better than cryptos.Furthermore,most price violations were frequent during price falls compared to price increases,supporting that the Fibonacci instrument does not capture price movements during up and downtrends,respectively.Also,fewer consecutive retracement breaks were observed when the price violations were examined 3 days before the current break.Furthermore,the Fibonacci-based strategy resulted in higher returns relative to the naïve buy-and-hold model.Finally,complementing Fibonacci with the price cross strategy did not improve the results and led to fewer or no trades for some constituents.This study’s overall findings elucidate that,despite significant drops in oil prices,speculators(traders)can implement profitable strategies when using technical analysis indicators,like the Fibonacci retracement tool,with or without price crossover rules.
文摘It seems that an effective way of how to make the right choice of Various investment projects is based on the theory of average internal income rate, or the theory of weight-added internal income rate. With several examples of numerical value, this paper proves that this method is not as effective as expected, but indirectly testifies that only with the principle of maximization of NPV that independent projects can be the best combination of projects with limited investment that is achieved.
文摘This paper analyses four effects of pegging exchange rate regime： effects on government policymaking, nominal anchor, domestic currency appreciation expectation, and currericy speculative attacks. Based on this, the paper concludes that China should give up RMB pegging exchange rate regime at present, carry out RMB floating exchange rate regime in the long term and RMB exchange rate target zone regime in the mid and short term.
