Suchergebnisse

The Chinese regulatory decentralization has evolved since regulation was introduced in the transition process. The quota system is an important instrument in China's regulatory regimes. Stock issuance quota system for regulating public offerings in securities markets is a major example. We argue that under certain conditions quotas can generate proper incentives to induce regional governments to cooperate in implementing regulations nationwide. Four groups of evidence are provided that regulatory decentralization in China's financial market has created incentives for regional competition and decentralized information collection in stock issuance. Weaknesses and limitations of the Chinese regulatory decentralization are discussed. ; postprint

Zhao, X orcid:0000-0003-0153-5173 ; Scientific capital structure is the key to guarantee sufficient funds and achievement of objectives of Public–Private Partnership (PPP) projects, while inappropriate capital structure has caused the failure of many projects. Meanwhile, sustainability is an important concept that should be concerned during the life cycle of PPP projects. Therefore, this study aimed to: (1) identify the critical factors influencing the capital structure of PPP projects from a sustainability perspective; and (2) analyze the relationships between the factors and the capital structure based on qualitative comparative analysis (QCA). This study identified seven critical factors influencing the capital structure of PPP projects. Moreover, the non-economic indicators should be concerned as well as the economic indicators. Thus, proper capital structure not only provides ample funds but also promotes the long-term healthy operation of projects and creates positive effects on the industry, region and society. Furthermore, the findings indicated that benefit, external situation, cost, ability of private sector and government support were the top critical factors. In addition, although risk did not show great importance, it had close relationship with other factors, which means risk should be concerned comprehensively. This study enriches the theoretical research about the capital structure of PPP projects and offers a new idea about the integration of sustainability and PPP projects. In addition, it supports the reasonable selection of capital structure in practice and promotes the practical application of sustainability on PPP projects.

Firm diversification across unrelated businesses is prevalent in many emerging economies, in contrast to the practices in developed economies. A fundamental difference between these two types of economies concerns with the existence of sound economic institutions including in particular the institutions constraining government expropriation of private properties. In this paper, using a survey data set of private enterprises in China, we find that severer government expropriation in the form of higher informal levies, extralegal payments, and entertainment fees causes firms to diversify. We then provide two case studies to highlight the extra costs that China's private entrepreneurs need to bear for doing businesses, and how they can subsequently leverage their relations with government bureaucrats to diversify into various businesses. ; postprint

This paper examines the impacts of economic institutions, including property rights protection and contract enforcement, on the location choice of foreign direct investment. From a data set of 6288 US multinationals investing in various China's regions for the period of 1993-2001, it is found that US multinationals prefer to invest in those regions that have better protection of intellectual property rights, lower degree of government intervention in business operations, lower level of government corruption, and better contract enforcement. Our results are robust to alternative measures of economic institutions, different sub-samples, and different estimation strategies, and to the inclusion of control variables such as those for agglomeration economies, and other traditional factors of FDI location choice. Journal of Comparative Economics 36 (3) (2008) 412-429. © 2008 Association for Comparative Economic Studies. ; preprint

This paper, by using data from a survey of 3,073 private enterprises in China, constructs an index to quantify the power of government vis-à-vis market, which is the distinguishing feature of various models of a market economy including private orderings, private litigations through courts, and regulatory state (Glaeser and Shleifer, 2002, 2003; Djankov et al., 2003). It is found that enterprises located in regions with greater powers of government vis-à-vis market enjoy better performance, suggesting that regulatory state is an appropriate model of a market economy for China. Evidence is also presented to rule out the concern that these results are driven by rent-seeking activities. ; postprint

Abstract. Variations of total column CO and O3 in the atmosphere over the epicenter areas of 35 great earthquakes that occurred throughout the world in recent years were studied based on the hyper-spectrum data from Atmospheric Infrared Sounder (AIRS). It was found that anomalous increases of CO and/or O3 concentrations occurred over the epicenter areas of 12 earthquakes among the 35 studied ones. However, increases in both CO and O3 concentrations were found for 6 earthquakes. The O3 anomalies appeared in the month when the earthquake occurred and lasted for a few months, whereas CO anomalies occurred irregularly. The duration of CO and O3 anomalies related to the earthquakes ranged from 1 to 6 months. The anomalies of CO concentration related to the earthquake can be mainly attributed to gas emission from the lithosphere and photochemical reaction, while the anomalous increases in O3 concentration can be mainly due to the transport of O3-enriched air and photochemical reaction. However, more work needs to be done in order to understand the mechanism of the CO and O3 anomalies further.

This is the final version of the article. Available from Frontiers Media via the DOI in this record. ; The release of toxic atmospheric pollutants since the Industrial Revolution is a major global challenge, driving climate change and damaging human health. Spatial health inequalities highlight the need to explore air pollution in different localities throughout the Anthropocene. Air quality monitoring programmes are spatially and temporally limited. We show how suitable urban sediment archives provide site specific records of long-term particulate matter (PM) releases, in cities and urban landscapes, that are or have been subjected to high pollution levels. High-resolution PM records spanning from the mid-20th century were reconstructed from an urban pond in Chongqing, southwest China, one of the fastest growing Chinese urban centres in the late 20th century. Temporal variations in pollution proxies including geomagnetic, geochemical and spheroidal carbonaceous particle trends correspond to key phases of industrial and urban developments, that are representative of the locality. Observed increases in air pollution proxies post-1960 coincide with the location of military-related industries to Chongqing and industrial intensification. Post-1997 pollution mirrors rapid urbanisation that occurred following the designation of Chongqing as a government-controlled municipality at this time and reveals a steadily increasing pollution trend to present day (2015). In comparison to Chongqing, an atmospheric depositional history was constructed from an urban pond in the Merseyside region of northwest England that has experienced a legacy of contamination since the early 19th century. In northwest England, changing characteristics of pollution are related to the establishment of localised, modern industries, power generation, urban sprawl, increased combustion-derived pollution post-1990 and effective pollution legislations. Whereas a reduction in air pollution has occurred post-2000 in Merseyside, in Chongqing, however, air pollution has continued to increase in spite of national efforts in pollution control. These urban sediments reveal the changing nature of air pollution in different urban landscapes, allowing us to assess air quality impacts of progressive industrial activity, increased road and air travel, urban expansion and the efficacy of pollution controls. It appears that air pollution remains an inevitable consequence of global industrialisation. It is therefore crucial to understand pollution histories in densely populated urban regions to determine environmental burdens of pollution on health over generational timescales. ; This research was supported by Halton Primary Care Trust (grant number CHCRD001 SE02), Edge Hill University (fund codes: RDWOR04, RDWOR05, RDWOR06, and RDWOR209), and the University of Exeter.

Abstract. The present work is proposed to investigate the spatiotemporal variations in soil gas Rn and CO2 across the active faults in the capital area of China in order to understand fault activities and assess seismic hazard. A total of 342 soil gas sampling sites were measured twice in 2011 and 2012 along seven profiles and across four faults. The results of soil gas surveys show that, in each profile, due to the variation in gas emission rate, the concentrations of Rn and CO2 changed in the vicinity of faults. Spatial distributions of Rn and CO2 in the study areas were different from each other, which was attributed to soil types affecting the existence of Rn and CO2. Compared with the measurement result of 2011, the increasing amplitude of average concentration value of Rn and CO2 in profiles in 2012 ranged from 30.2 to 123.4% and 66.3 to 131.7%, respectively, which were coincident with the enhancement of seismic activities in the capital area of China. Our results indicate that special attention with regard to seismic monitoring should be paid to the Xinbaoan–Shacheng Fault and the northeastern segment of the Tangshan Fault in the future.

China is a multicultural country that has arisen from its 56 ethnicities, with a diverse population of over 1.3 billion people and an imbalanced economic development. The health care system in China is tending to be overall funded through urban and rural health insurance plans. Although China has invested in the basic research of genome science, public health genomics-related programs and services in China started late. Prenatal screening is offered as part of routine clinical prenatal services and is free of charge in some economically advanced cities. Newborn screening programs are mandated throughout the country but vary between provinces and territories in terms of organization and diseases screened for; most screening tests are paid by out-of-pocket expenses. Genetic tests are encouraged while there are only one accredited state laboratory and few territorial laboratories in China. Further national genomics policies are needed in China in a range of genetic issues and infrastructure of public health genomics. Careful measurement is essential to understanding the nature and scale of the task ahead.

Abstract. Hydrogeochemistry of 10 hot springs in the Kangding district was investigated by analyzing cation and anion concentrations in the spring water. The water samples were collected in the 5 days after the Lushan MS = 7.0 earthquake, which occurred on 20 April 2013. The spring waters are classified into seven chemical types based on their hydrochemical compositions. Compared with hydrochemical data before the Lushan earthquake, concentrations of Ca2+, HCO3- and total dissolved solid (TDS) in water samples from the Guanding, Erdaoqiao, Gonghe, Erhaoying, Tianwanhe and Caoke springs significantly increased, which may be the result of a greater increase in groundwater from carbonate rocks, and water–carbonate rock interactions, enhanced by the increment of CO2. Concentrations of Na+, Cl- and SO42- in water samples from the Guanding, Zheduotang, Xinxing and Gonghe springs decreased, indicating a dilution of shallow waters. Concentrations of Na+ and SO42- in water samples from the Erhaoying spring water increased, which may be attributed to water–granite interactions enhanced by H2S. The results indicated that hydrochemical components of spring water could be used as an effective indicator for earthquakes.