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In the context of sustainable development, countries around the world shed more light on green innovation in their environmental policies, and the digital economy may take a vital part in improving green innovation. Predicted on the panel data of 278 cities in China from 2011 to 2019, this research administrates the principal component analysis (PCA) to evaluate the advancement level of the urban digital economy and employs the number of urban green patent applications to represent green innovation level. Through the benchmark regression model, the mediating effect model, the spatial Durbin model, the dynamic threshold panel model, and the gradual difference‐in‐difference model, this paper explores the direct effect, indirect effect, spatial effect, nonlinear relationship, and policy effect of that digital economy has on green innovation. The development of the digital economy can improve green innovation levels in indirect ways, such as by boosting the degree of economic openness, optimizing the industrial structure, and expanding the market potential, and as economic openness, industrial structure, and market potential advance, the promotion intensity of digital economy on green innovation is becoming lower and lower. The development of green innovation has an obvious spatial spillover effect. Still, the enhancement of green innovation in more developed regions may inhibit green innovation in less developed regions due to talent flow and industrial transfer. Finally, the gradual difference‐in‐difference model founded on the 'Broadband China' pilot policy supplementarily verifies that digital economy enhancement can substantially advance urban green innovation. [ABSTRACT FROM AUTHOR]

Modern‐day firms are under extreme pressure from diverse stakeholders to integrate environmentalism, mainly sustainable, social, and environmental ingenuities like biodiversity initiatives, into their business strategy. Collaborative arrangements in the form of business groups can positively influence sustainable development and environmental ingenuities by adhering to environmental policies and regulations and pursuing environmental orientation as they have a higher political or social visibility. However, such collaborations may negatively influence ecological and carbon footprints as their stronger political legitimacy means that they are less worried about undertaking legitimation activities in the drive toward environmental protection and restoration, such as enhanced sustainable social and environmental performance. This paper adds to the emerging conflicting business strategy and environment literature to resolve whether corporate's collaborative actions protect the environment or further deteriorate it in the form of increased or decreased sustainable social and environmental performance. Using a large sample of 21,086 firm‐year observations from 2010 to 2018 in China (the world's biggest polluter), we find a negative and significant relationship between corporate's collaborative actions and sustainable social and environmental performance, implying that such collaborative arrangements have worse sustainable social and environmental performance than non‐collaborative (individual) firms. The findings highlight vital guidelines in framing stratagems about ecological protection and restoration and effectively improving the environmental footprints of the firms. Our results constitute the interests of policymakers and controllers concerned with evaluating initiatives pertaining to ecological protection and sustainable development among the collaboratively managed enterprises. [ABSTRACT FROM AUTHOR]

Objective To give an overview of the recent history of publications on mathematical modelling of infectious diseases in the Chinese literature, and a more detailed review of the models on severe acute respiratory syndrome (SARS). Method Literature review through the Chinese CAJ full-text database. Results The number of Chinese publications on mathematical modelling has at least quadrupled since the SARS epidemic in 2003. This increase not only included papers on SARS, but also on various other infectious diseases, indicating a substantial expansion of modelling experience in China. Typical problems of most studies were poor availability of data and lack of involvement of disease experts and decision-makers rendering the studies less useful for policies on control. Conclusions We expect that the recent experience on modelling and current better access to and exchange of epidemiological data have paved the way for a more substantial role of this discipline during possible future outbreaks of infectious diseases. By making Chinese modelling initiatives more visible to non-Chinese readers, we hope to attract more international collaborators. [ABSTRACT FROM AUTHOR]

We study the impact of stock market liberalisation through the Mainland China–Hong Kong Stock Connect (CHSC) program on the corporate financialisation of listed firms in Mainland China using the generalised difference-in-difference model in this paper. The empirical results show that implementing the CHSC program significantly reduces corporate financialisation of the listed firms in Mainland China by mitigating internal agency conflicts and enhancing external monitoring. Further analysis indicates that the inhibiting effect of stock market liberalisation through the CHSC program on corporate financialisation is more pronounced for firms without cross-listing or qualified foreign institutional investors (QFII) ownership and firms with a more remarkable change of foreign ownership brought by the CHSC program. [ABSTRACT FROM AUTHOR]

As one of the pioneer palaeontologists, Professor Zhuoting Liao has contributed his lifetime to promoting palaeontological and stratigraphical research in China for 60 years, and he passed away in the field excursion in South China on June 20, 2020. In his palaeontological career, Liao has worked on Late Palaeozoic to Mesozoic palaeontology and stratigraphy of almost all regions across China, and his interests have also extended to the Permian–Triassic (P‐Tr) boundary and mass extinction. He has worked on palaeontology, palaeobiogeography, biostratigraphy, tectonostratigraphy, and their implications in mineral and oil‐gas industries. Liao has established 22 new genera and 172 new species of brachiopods, and, together with his colleagues, proposed 11 new genera and 25 new species of echinoderms. He dedicated his lifetime to work on Late Palaeozoic palaeontology and stratigraphy of the previously remote and tectonically complex Xinjiang and adjacent regions, north‐west China, and established integrated stratigraphical frameworks for the Carboniferous to Permian strata, providing fundamental basis for mineral and hydrocarbon exploration in the poorly understood Central Asian terranes. In addition, he has mentored many young palaeontologists and stratigraphers in various ways. This volume assembles 30 papers addressing the Late Palaeozoic to Mesozoic palaeontology and stratigraphy of China and adjacent regions, which pays tribute to the achievement of Professor Zhuoting Liao. [ABSTRACT FROM AUTHOR]

Using data from the China Household Finance Survey (CHFS) in 2017, this paper examines the association between access to online consumer credit and household consumption. We find that online consumer credit has a significantly positive relationship with household consumption. Heterogeneity analysis shows that the relationship between online consumer credit and household consumption is more obvious among poorer households and households resided in less developed areas, which partially reflects the inclusiveness of online consumer credit. Further analysis shows that online consumer credit mainly increases the expenditures of large‐sum and non‐daily items, which suggests that online consumer credit has promoted consumption upgrading of households. [ABSTRACT FROM AUTHOR]

We study the impact of stock market liberalisation through the Mainland China–Hong Kong Stock Connect (CHSC) program on the corporate financialisation of listed firms in Mainland China using the generalised difference‐in‐difference model in this paper. The empirical results show that implementing the CHSC program significantly reduces corporate financialisation of the listed firms in Mainland China by mitigating internal agency conflicts and enhancing external monitoring. Further analysis indicates that the inhibiting effect of stock market liberalisation through the CHSC program on corporate financialisation is more pronounced for firms without cross‐listing or qualified foreign institutional investors (QFII) ownership and firms with a more remarkable change of foreign ownership brought by the CHSC program. [ABSTRACT FROM AUTHOR]

Based on three case studies of Chinese Internet start‐ups, this study seeks to address the research question: "How is digital entrepreneurship enacted in China?" Our findings reveal that there was a common theme that underpinned the start‐ups we studied, which we termed 'Qinghuai' in the language of the informants we spoke with. In this paper, we explain the roots of the concept and its six constituent elements at the individual, organizational, and ecosystem levels. These elements are then abstracted into two dimensions: (a) spiritual idealism and (b) perpetual development. We argue that Qinghuai as a concept is a product and reflection of the cultural and institutional complexity of contemporary China. Further, we discuss how Qinghuai facilitates digital entrepreneurship across the business, organizational, and technological domains. This explanation is substantiated by data from our three cases and juxtaposed with what has been discussed in the existing digital entrepreneurship literature. Finally, as we present the contributions of our study, we elaborate on (a) how Qinghuai reflects the contemporary context of China; (b) how Qinghuai is instrumental to digital entrepreneurship in China; and (c) how Qinghuai is different from other related concepts including Guanxi, collectivism, collective action and social entrepreneurship. We conclude the paper by discussing its limitations, future research opportunities, as well as its practical implications. [ABSTRACT FROM AUTHOR]

Carbon trading mechanism is an effective means to control greenhouse gas emissions. This paper focuses on the low‐carbon economic operation of the integrated energy system under carbon trading mechanism in China. The integrated energy system includes the energy storage, ground source heat pump, and other equipment. The objective of this paper was to minimize the annual total cost of the system considering the carbon trading cost and study the operation modes under different carbon trading prices by commercial optimization software. The simulation results show the operation modes in summer are changed obviously with the increase of the carbon trading prices, while the operation modes in winter basically are not changed with the fluctuation of the carbon trading prices; under the carbon trading mechanism, the integrated energy system can not only reduce the carbon emissions, but also reduce the annual total cost through carbon trading, which shows its advantages and good development prospect. In addition, the setting of the carbon emission quota has a direct impact on the economy of the enterprises. Furthermore, the ground source heat pump and the electric refrigeration units can stabilize the fluctuation of the equipment output caused by the change of natural gas prices in this integrated energy system. [ABSTRACT FROM AUTHOR]

An introduction is presented in which the authors discusses various reports within the issue on topics including industrial agglomeration, development of manufacturing industries and creative industries clusters in China.

This paper considers the pattens of international collaboration by analysing publications on COVID‐19 published in the first 6 months of the pandemic. The data set comprised articles on COVID‐19 indexed in the Web of Science Core Collection (WoS CC) downloaded four times between 1 April 2020 and 1 June 2020. The analysis of 5,827 documents revealed that 128 countries, 23,127 authors, and 6,349 institutes published on the pandemic. The data reveal that the three main publishing countries were the USA, China, and England with Italy closely following. Although publication was widely spread, most of the institutions with the highest volume of output were in China. Network analysis showed growth in international cooperation with an average degree of country/region cooperation rising to 23.06 by 1 June. There was also a clear core‐periphery structure to international collaboration. Institutional collaboration was shown to be highly regionalized. The data reveal a high and growing incidence of international collaboration on the pandemic. [ABSTRACT FROM AUTHOR]

Ecological compensation is an innovative and effective tool to explore the coordinated development of socioeconomic prosperity and ecological protection, especially for a watershed crossing different regions. It converts the externalities of ecosystem services into practical financial incentives for local stakeholders. This empirical study applies a quantitative policy evaluation approach to evaluate the environmental and economic effects of an ecological compensation policy, using the paddy land–to–dry land (PLDL) program implemented in China's Miyun Reservoir watershed as an example. The study is based on responses to a 2017 questionnaire regarding agricultural production inputs and outputs administered to 269 households in Hebei Province, where the PLDL program has been operational for over 10 yr. The results show that the program has reduced nitrogen usage by 24% on average in 2017 and decreased the total nitrogen emission load by 16.98 tons for the entire case area, which accounts for approximately 18.6% of the total nitrogen load reduction of the Miyun Reservoir basin. However, the upstream households involved in this program have experienced agricultural income losses higher than that allowed for by the current compensation criterion. Therefore, this paper discusses the factors that should be considered in the process of determining ecological compensation criteria. In particular, the paper proposes a differential compensation scheme based on the environmental effect at the individual level to avoid a standard payment for all households irrespective of their different contributions. This differential compensation payment scheme facilitates the fair treatment of environmental contributors and maximizes environmental benefits through an equitable allocation of limited ecological compensation funds. This study serves as a theoretical and practical reference for further improvement of the current ecological compensation policy in China. The study also sheds light on practices for estimating ecological compensation criteria and formulating ecological compensation policies for other regions or countries in the future. [ABSTRACT FROM AUTHOR]

Predicting the occurrence of internal solitary‐like waves (ISWs) is important for parameterizing turbulent dissipation. ISWs in the northern South China Sea (SCS) are well understood to mainly originate from the Luzon Strait (LS). They are generally predictable due to their phase‐locked relation with tidal forcing in the LS. However, irregular occurrence of ISWs is noted from our 9‐day moored measurements on the SCS shelf. More energetic ISWs unexpectedly appeared during the neap tide than the spring tide. Their occurrence was related to subtidal shelf flows. The tidal and shelf flows had comparable magnitudes. We thus hypothesize that when the total flow meets critical conditions ISWs are generated locally over irregular seafloor. This hypothesis is supported by numerical experiments and validated by observations. Consequently, local generation of ISWs enhances both the intensity and complexity of internal wave field on the shelf, and thus the unpredictability of ISW occurrence. Plain Language Summary: Internal solitary‐like waves (ISWs) are ubiquitous in the ocean. They can propagate several hundreds of kilometers, and induce strong turbulence and mixing. Revealing generation mechanisms and propagation of ISWs is key to further investigating their influence on the distributions of energy dissipation, heat, nutrients, sediment, and pollutants, as well as the safety of submarine voyages and offshore drilling. In this paper, ISWs in the northern South China Sea (SCS), where the most energetic ISWs in the world's oceans are generated, are studied. It is widely accepted that these ISWs generally originate from the Luzon Strait (LS). They usually have regular occurrence, and are phase‐locked to tidal forcing in the LS. However, we present field measurements showing irregular occurrence of ISWs on the northern shelf of the SCS. This irregular occurrence is in striking contrast to the prominent predictability of ISWs originated from the LS. We reveal that the intermittent nature of the occurrence is due to the local generation of ISWs on the shelf; the coupling of different flow components seems to play a significant role in ISW generation on the shelf. The results reported here are expected to be applicable to other shelf regions of the world's oceans. Key Points: Field measurements documented large numbers of internal solitary‐like waves (ISWs) with irregular occurrence on the northeastern shelf of the South China SeaMore energetic and larger numbers of ISWs are observed during the neap tide than during the spring tide as modulated by shelf flowsISWs are locally generated due to the joint effects of tidal and subtidal shelf flows [ABSTRACT FROM AUTHOR]

Government hotline plays a significant role in meeting the demands of the people and resolving social conflicts in China. In this paper, we propose an automatic work‐order assignment method based on event extraction and external knowledge to address the problem of low efficiency with manual assignment for Chinese government hotline. Our proposed assignment method is composed of four parts: (1) Semantic encoding layer, which extracts semantic information from the work‐order text and obtains semantic representation vectors with contextual feature information. (2) Event extraction layer which extracts the local features and global features from the semantic representation vectors with the help of the CRF network to enhance event extraction effect. (3) External knowledge embedding layer, which integrates 'rights and responsibilities lists' with the historical information of the work‐order to assist assignment. (4) Assignment layer which completes work‐order assignment by combining two output vectors from event extraction layer and external knowledge embedding layer. Experimental results show our proposed method can achieve better assignment performance compared with several baseline methods. [ABSTRACT FROM AUTHOR]

This paper proposes a factor timing strategy with information from 146 characteristic‐based factors and a deep learning approach to capture the nonlinear predictability. The deep learning‐based factor timing strategy generates the highest economic value compared with the unconditional and alternative linear machine learning‐based portfolios and remains robust after controlling for traditional factor models and transaction costs. With the unique market structure of the Chinese stock market, we find that mispricing‐based theory helps explain the factor timing via deep learning. [ABSTRACT FROM AUTHOR]

Our paper contributes to the nascent literature on forecasting the Chinese macroeconomy in a data‐rich environment. We perform a horse race among a large set of traditional models and two classes of factor models with 251 monthly and 34 quarterly macroeconomic variables over the period from January 2002 to June 2018. We find evidence that mixed‐frequency factor models provide superior forecasts of the CPI, RPI, investment, and consumption when compared to the simple benchmark. During the Global Financial Crisis period, we find little evidence of superiority of factor models over the simple benchmark AR(p) model. [ABSTRACT FROM AUTHOR]

In this paper, we examine the effect of multiple large shareholders (MLS) on financial reporting quality. Using a sample of Chinese listed firms over the period 2007–2018, we find that firms with MLS tend to have lower financial reporting quality. Our findings are robust to an array of robustness tests, including controlling for possible omitted variables, a Heckman two‐step sample selection model, and a difference‐in‐differences analysis based on a propensity score matched sample. We further show that the effect of MLS on financial reporting quality is attenuated for firms followed by more analysts, cross‐listed on the Hong Kong Stock Exchange, and held by institutional blockholders. Finally, we find that agency problems appear to be the possible underlying mechanisms through which MLS lower financial reporting quality. [ABSTRACT FROM AUTHOR]

The PM2.5 (fine particulate matter with diameter ≤2.5 μm) concentration anomalies over the North China Plain (NCP) in early and late winter sometimes show a subseasonal reversal, which brings a great challenge for precise control of air pollution, and mechanisms are not well understood. This paper reveals the key role of the Barents Sea sea‐ice in this reversal. In early winter, a negative Scandinavian‐like pattern causes an anticyclonic anomaly over Northeast Asia and thus leads to the positive PM2.5 concentration anomaly over the NCP. In addition, anomalous warm advection associated with the positive North Atlantic Oscillation‐like pattern accelerates winter sea‐ice loss in the Barents Sea, especially in late winter, which increases the surface turbulent heating flux. These heating causes a negative Polar/Eurasian‐like pattern that induces a cyclonic anomaly over Northeast Asia and eventually leads to a negative PM2.5 concentration anomaly over the NCP in late winter. Vice versa. Plain Language Summary: In this study, we find that there is a significant seesaw pattern of PM2.5 concentration anomalies over the North China Plain (NCP) in early and late winter. Further results reveal that variations in Barents Sea sea‐ice play a crucial role. More specifically, a negative (positive) Scandinavian‐like pattern in early winter tends to induce an anticyclonic (a cyclonic) anomaly over Northeast Asia. This anticyclonic (cyclonic) anomaly leads to a higher (lower) PM2.5 concentration anomaly over the NCP in early winter. In addition, a North Atlantic Oscillation‐related warm (cold) temperature advection promotes (inhibits) the sea‐ice loss in the Barents Sea, especially in late winter. The Barents Sea‐ice loss (increment) in late winter tends to heat (cool) the lower‐level atmosphere and thus triggers an anticyclonic (a cyclonic) response in the upper troposphere there. The anticyclonic (cyclonic) response in the Barents Sea region as a part of the negative (positive) Polar/Eurasian‐like pattern induces a cyclonic (an anticyclonic) anomaly over Northeast Asia, which leads to a lower (higher) PM2.5 concentration anomaly over the NCP in late winter. These findings could be of great value for the subseasonal predictions of PM2.5 concentrations over the NCP in winter. Key Points: PM2.5 concentration anomaly over the North China Plain shows an visibly subseasonal reversal in early and late winter on interannual scaleThe Scandinavia‐like pattern and Polar/Eurasian‐like pattern are responsible for the seesaw pattern of PM2.5 concentration anomaliesThe sea‐ice variations in the Barents Sea play a key role in modulating such atmospheric circulations [ABSTRACT FROM AUTHOR]

Incidents of sub‐synchronous oscillations (SSOs) reported in the Hami power network of western China indicate that the torsional dynamics of a synchronous generator (SG) can be excited by a grid‐connected wind farm and trigger torsional SSOs. The concept of open‐loop modal resonance (OLMR) reveals the excitation mechanism from the standpoint of system modal condition. This paper proposes a novel damping torque analysis (DTA) for detecting and assessing the risk of OLMR exciting torsional SSOs in a complex power system with multiple grid‐connected wind farms. The proposed analysis is modal‐computational free and can also accurately identify the grid‐connected wind farm responsible for the excitation of the torsional SSOs. Moreover, the proposed DTA provides a physical insight into the OLMR to facilitate an understanding of the essential reasons that the OLMR may excite torsional SSOs. The effectiveness of the proposed DTA is demonstrated and evaluated in an example power system with multiple grid‐connected wind farms. [ABSTRACT FROM AUTHOR]

In coastal cities, a large amount of cold energy is released into the nearby seawater during the process of regasification of liquefied natural gas (LNG) at the receiving terminal, and meanwhile, a large amount of exported and/or imported foods need to be frozen by bulk cold energy near the sea. In this paper, a new multistage cold energy recovery/utilization system is investigated to link the LNG cold energy directly to supply the coastal cold store. This design uses a realistic case in Ningbo LNG receiving station in China, and for the very first time considers how to utilize the LNG cold energy in an efficient manner regarding the technical, economic, and environmental benefits. A three‐stage LNG cold energy utilization system is designed and evaluated by considering different temperatures, pressures, and heat exchange parameters. Compared to conventional electric‐driven cold stores, the proposed multistage cold energy recovery/utilization system has a much cheaper capital cost during the initial investment stage, and also avoids the utility power consumption during the daily operation period. In the case study, from Ningbo LNG receiving station to a 10 MW class cold store, the proposed multienergy system can save the energy of 20.05 kilotons of standard coal, and the carbon emission reduction is up to 1.49 × 108 kg per year. [ABSTRACT FROM AUTHOR]

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Chinese diplomacy has been proactive under Xi Jinping and overseas Chinese are an important target. A better understanding of how overseas Chinese perceive Chinese diplomacy can increase our knowledge, but it is under‐studied in the literature. To fill part of this gap, this research focuses on the Pacific region where Chinaʼs activities have triggered growing geostrategic competition between traditional powers and China. Based on a survey of 182 ordinary overseas Chinese in Fiji and Tonga, this paper examines Chinese diasporaʼs perceptions of three aspects that are related to Chinaʼs diplomacy, including the Belt and Road Initiative, China‐Pacific bilateral relations, and old‐new Chinese issues. The survey reveals nuances in ordinary overseas Chinese views about Chinaʼs diplomacy, especially the concerns and apathy among some of them. It suggests that ordinary overseas Chinese support for Chinaʼs diplomacy is unlikely to grow substantially unless their views about this diplomacy become more positive. [ABSTRACT FROM AUTHOR]

Reconstructing the tectonic architecture of the southern Altaids is of great importance to piece together the continental growth history of the Central Asian continent. In this paper, we address the subduction‐accretion process of the Paleo‐Tianshan Ocean, one branch of the South Tianshan Ocean, in the southern Altaids, through a detailed geological and geochemical investigation of the Wulanmoren Accretionary Complex (WAC). The WAC is composed of ophiolitic mélanges, ocean plate stratigraphy mélanges, and turbiditic coherent units. In this study, we present key geological, petrological, and geochemical evidence indicating back‐arc and ocean island affinity of the igneous rocks of the WAC. Zircon U‐Pb dates of these rocks ages range between 380.2 ± 1.3 and 302.0 ± 5.3 Ma. The sedimentary matrix units of the mélanges were deposited in the Early Devonian (∼405 Ma) to the Late Triassic (∼222 Ma), rather than Silurian strata as previously thought. However, the ages of some detrital zircons in the sedimentary matrix are Precambrian, pointing to a complex evolution involving multiple ocean island terrains and island arcs of different ages that accreted from the mid‐Paleozoic to the Early Mesozoic. Plain Language Summary: Well‐exposed rock outcrops of the Wulanmoren Accretionary Complex (WAC) offer an ideal opportunity to solve the enigma of the evolutionary history of the Paleo‐Tianshan Ocean (PTO) of Central Asia. We report field observations, geochemistry, and geochronology of the WAC in the southern Altaids, pointing to multiple tectonic settings of ages spanning from the Early Devonian (∼405 Ma) to the Late Triassic (∼222 Ma). These reconstructions suggest closure time of the PTO occurred post‐Triassic. Based on detrital zircons provenance analysis, we propose a multi‐island ocean model to explain the tectonic evolution of the PTO in the time period studied. Key Points: The Wulanmoren Accretionary Complex was composed of ophiolitic mélanges, ocean plate stratigraphy mélanges, and coherent unitsThe Late Paleozoic MORB‐like and OIB‐type basalts, and ∼222 Ma coherent units indicate closure of the Paleo‐Tianshan Ocean occurred post‐TriassicThe southern Paleo‐Asian Ocean was an archipelago with several subduction systems which is similar to the modern southwest Pacific [ABSTRACT FROM AUTHOR]

Understanding how crop phenology responds to climate change is critical for enabling agricultural adaptation measures. Pre‐season temperature alone leads to well‐understood changes in crop phenology. Nevertheless, the modulation effect of concurrent precipitation extremes on the response to temperature extremes has been largely under‐addressed. Here, we investigate the response of rice transplanting dates to pre‐season temperature extremes and reveal the modulation effects of concurrent precipitation extremes by using station‐observed rice transplanting dates from 1981 to 2018 across mainland China. We also evaluate the performance of a remotely sensed phenology product, ChinaCropPhen1km, in reproducing the above temperature responses and modulation effects. Our results showed that transplanting dates tended to advance in response to an extremely hot pre‐season, while concurrent extreme drought offset the advance by up to 2.6 days. Transplanting dates tended to be delayed in response to an extremely cold pre‐season, while concurrent extreme precipitation exacerbated the delay by up to 1 day. Responses to temperature extremes and modulation effects were divergent across different regions. Under extremely hot conditions, transplanting dates advanced further in hotter and wetter regions, while under extremely cold pre‐seasons, transplanting dates delayed less in colder and drier regions. Transplanting dates from the ChinaCropPhen1km product underestimated the responses to temperature extremes by up to 4.7 days and detected the opposite modulation effect compared to those obtained from observations. Our results highlight that the need to improve our understanding and modeling of modulation effects of precipitation extremes on temperature–phenology relationship, which benefits the field of agriculture risk analysis and climate change adaptation. Plain Language Summary: Frequent climate extremes are projected with ongoing climate change. This paper reveals the effect of concurrent precipitation extremes in modulating rice transplanting date response to pre‐season temperature extremes in China and assesses remotely sensed transplanting dates from the ChinaCropPhen1km product in reproducing the above temperature responses and modulation effects. Results show that concurrent precipitation extremes substantially influence the temperature–transplanting date relationship. Two kinds of modulation effects are detected: (a) concurrent extreme precipitation tends to exacerbate the extremely cold‐induced delay by up to 1 day, and (b) concurrent extreme drought conditions tend to offset the extremely hot‐induced advance by up to 2.6 days. From a spatial perspective, responses to temperature extremes and modulation effects are divergent across regions. Additionally, remotely sensed transplanting dates from the ChinaCropPhen1km product underestimate the temperature responses and detect the opposite modulation effects compared to observations. This study highlights the critical role of concurrent precipitation extremes in modulating temperature impact on crop phenology, which requires more understanding and modeling in future analysis. Key Points: Concurrent extreme drought offset the extreme hot induced‐advance, and extreme precipitation exacerbate the extreme cold induced‐delayResponses to temperature extremes and modulation effects of precipitation extremes are divergent across regionsRemotely sensed transplanting dates from ChinaCropPhen1km underestimate the responses to temperature extremes and modulation effects [ABSTRACT FROM AUTHOR]

The tight sandstone reservoirs have become the focus of today's oil and gas exploration. To clarify the microscopic characteristics of the tight sandstone reservoirs of the Chang 63 deep water gravity flow origin in the Huaqing area, the Chang 63 gravity flow origin reservoirs in the study area are divided into three categories. They are the formation reservoir of sandy clastic flow (FROSF), formation reservoir of muddy debris flow deposits and turbidites (FROMT) and formation reservoir of slides and slumps (FROSS). In this study, core and logging data, thin sections, field emission scanning electron microscopy (FE‐SEM), and mercury intrusion capillary pressure (MICP) were combined to investigate the rock composition and pore‐throat characteristics of tight sandstone reservoirs with different types of gravity flow origins. The reservoir micro‐heterogeneity is also investigated in this paper. The results show that the reservoirs with different gravity flow origins are similar in lithology and are mainly composed of feldspar lithic sandstone and lithic feldspar sandstone. The pore types are mainly intergranular pores and feldspar‐dissolved pores. There are significant differences in the porosity, permeability, microscopic pore‐throat characteristics and microscopic heterogeneity of the reservoirs. From FROSF to FROMT and FROSS, the porosity, permeability, mercury inlet saturation, discharge pressure, median pressure and mercury removal efficiency gradually decrease. The tightness of the reservoir gradually increases. The storage capacity is gradually reduced. The disparity between the throat radius and pore radius gradually increases. The pore‐throat structure becomes more complex, and the microscopic heterogeneity of the reservoir gradually increases. [ABSTRACT FROM AUTHOR]

Sanjiang Plain is the largest marsh distribution area of China, and marshes in this region significantly affect regional carbon cycle and biodiversity protection. The vegetation phenology of marsh significantly affects the energy exchange and carbon cycle in that region. Under the influence of global climatic change, identifying the changes in phenology and their responses to climatic variation in marshes of Sanjiang Plain is essential for predicting the carbon stocks of marsh ecosystem in that region. Using climate and NDVI data, this paper analyzed the spatiotemporal variations in the start (SOS), end (EOS), and length (LOS) of vegetation growing season and explored the impacts of climatic variation on vegetation phenology in marshes of Sanjiang Plain. Results showed that the SOS advanced by 0.30 days/a, and EOS delayed by 0.23 days/a, causing LOS to increase significantly (p <.05) by 0.53 days/a over marshes of Sanjiang Plain. Spatially, the large SOS advance and EOS delay resulted in an obvious increasing trend for LOS in northern Sanjiang Plain. The rise of spring and winter temperatures advanced the SOS and increased the LOS, and the rise in temperature in autumn delayed the EOS in marshes of Sanjiang Plain. Our findings highlight the necessity of considering seasonal climatic conditions in simulating marsh vegetation phenology and indicate that the different influences of climatic variation on marsh vegetation phenology in different regions should be fully considered to assess the marsh ecosystem response to climatic change in Sanjiang Plain. [ABSTRACT FROM AUTHOR]

This paper studies the transmission mechanisms that underlie China's house price fluctuations using a dynamic stochastic general equilibrium (DSGE) model. The model is estimated with Bayesian methods, which accounts well for business cycle properties of the housing market. Results show that shocks to housing productivity and the government land supply to housing developers are the primary contributors to house price volatility, accounting for 37% of house price volatility in the short run and 32% in the long run. The importance of housing valuation shocks and shocks to migration only increases in models without the supply side of the housing market. [ABSTRACT FROM AUTHOR]

This paper examines the impact of customer concentration on green innovation in Chinese listed firms between 2006 and 2018 through the dynamic panel generalized method of moments regressions. It is reported that major customers positively impact corporate green innovation, indicating that firms have more incentives to engage in innovative green practices to maintain stable relationships with major customers. In addition, the positive relationship between customer concentration and green innovation is more pronounced in state‐owned enterprises, firms located in the provinces with a high level of marketization, and after China's new Environmental Protection Law implementation. Moreover, we observe that the positive impact of customer concentration on corporate green innovation is more significant among industrial firms and firms operating in heavily polluting industries. Furthermore, industrial competition is an essential channel for major customers to affect corporate green innovation. [ABSTRACT FROM AUTHOR]

Several experiments and field observations have demonstrated seismic waves‐induced permeability increases. However, a few experiments have revealed significant decreases in the permeability of fractured sandstone after shaking produced by dynamic stresses. In this paper, we analyze the tidal responses of the water level in two wells (Junan and Dingyuan) situated on and near, respectively, the Tan‐Lu fault in China. The results sampled by a single well indicate that seismic waves could both increase and decrease the permeability. In addition, our results indicate that the earthquakes that decreased the permeability in a single well were distributed in certain azimuthal zones. Given the azimuthal distribution of distant earthquakes, the observed permeability decrease could be attributed to the seismic wave‐induced clogging of fractures that compose the flow paths in the shallow crust. Our research contributes to an enhanced overall understanding of the effects of earthquakes on the permeability of the shallow crust. Plain Language Summary: Most hydrological phenomena caused by earthquakes can be explained by permeability changes. Many experiments and field observations have demonstrated coseismic increases in permeability. However, coseismic decreases in permeability have seldom been reported. In this paper, we analyze the tidal responses of the water level in two wells. The results indicate that seismic waves could both increase and decrease the permeability. In addition, we find that the earthquakes that decreased the permeability in a single well were distributed in certain azimuthal zones. Given the azimuthal distribution of distant earthquakes, the observed permeability decrease could be attributed to the seismic wave‐induced clogging of fractures that compose the flow paths in the shallow crust. Furthermore, we discuss the possible process of particle remobilization in a natural fracture network caused by seismic waves, as this process may be used to explain the azimuthal distribution of earthquakes that decreased the permeability. Our research contributes to an enhanced overall understanding of the effects of earthquakes on the crustal permeability. In the future, earthquake‐induced increases and decreases in permeability should be considered when discussing controls on permeability for exploring underground resources of groundwater, geothermal energy, oil and gas, and for safely storing nuclear and toxic waste underground. Key Points: Seismic waves could decrease besides increase the crustal permeabilityDecreases in permeability may depend on the earthquake azimuthThe decrease in the permeability could be attributed to the clogging of fractures [ABSTRACT FROM AUTHOR]

This paper investigates the relationship between media attention to a location and the price behaviour of stocks headquartered there. Using monthly media coverage of 236 prefecture‐level cities in mainland China, we find that stocks in cities with higher abnormal media attention outperform stocks in cities with lower abnormal media attention by 3.72 percent per year, and the positive relationship between attention and returns holds after controlling for firm characteristics, firm‐level attention proxies and local economic conditions. Moreover, the initial positive price pressure is completely reversed within three months. Our results remain robust when we take endogeneity and other concerns into account. [ABSTRACT FROM AUTHOR]

The increasing range and quality of China's exports is a major development internationally with potentially far‐reaching effects. In this paper, on top of the direct labour market effects of imports from China studied in previous research, we also measure the indirect effects stemming from increased export competition in third markets. Our findings, based on matched employer–employee data of Portugal covering the period 1991–2008, indicate that workers' earnings and employment are significantly negatively affected by China's competition, but only through the indirect 'market‐stealing' channel. In contrast to earlier evidence, the direct effects of Chinese imports are mostly non‐significant. The results are robust to a number of checks and also highlight particular groups more affected by indirect competition, including women, older and less educated workers, and workers in larger, older and domestic firms. [ABSTRACT FROM AUTHOR]

Using medical insurance (MI) to shift employees' health risks outside is an important risk management tool for modern firms. Existing studies usually treat firms' contributions to employees' MI only as a labor cost. However, contributing to MI also has indirect benefits, such as improved labor productivity and R&D innovation, which consequently increase corporate value. This paper studies the impact of firms' MI contributions for employees on corporate value, using social insurance collection system reform in China as a natural experiment. Results show that, first, the reform increases firms' contributions to employees' MI funds. Second, the increase has a positive impact on firms' market‐to‐book ratio. These effects can be explained by enhanced labor productivity, firm efficiency, and innovation. Heterogeneity analysis suggests that the effects are more pronounced for firms in high R&D industries, areas with high pollution, or areas with better medical and labor supplies. [ABSTRACT FROM AUTHOR]

Continuous improvement of technological innovation ability, adjustment of the development strategy, and enhancement of operational performance are of great theoretical and practical significance for logistics enterprises. This paper aims to analyze and evaluate the innovation efficiency of the logistics industry. The study utilizes the static three‐stage DEA model and the dynamic Malmquist index model, considering a total of 12 indicators related to innovation input, output, and environmental variables. A dataset of 2940 entries from 49 listed logistics enterprises from 2017 to 2021 was calculated. The analysis provides insights into the innovation efficiency of logistics enterprises from a static perspective and the innovation total factor productivity from a dynamic perspective and decomposition terms. Based on the analysis of environmental variables by the SFA model, it was found that DEA inefficiency is the combined result of environmental factors and management inefficiency. Environmental variables have both positive and negative effects on innovation. The improvement of the economic development level will lead to excess R&D investment. Increased government simple fund subsidies are not conducive to the efficient allocation of innovation resources within enterprises. The expansion of enterprise scale will increase R&D personnel and investment in fixed assets. A thriving technology market can encourage enterprises to improve their own conversion rate of scientific and technological output and give full play to their innovation ability. The dynamic Malmquist model analysis reveals a recution in the overall innovation efficiency of listed logistics enterprises over 5 years. The changes in total factor productivity and technological progress efficiency of all listed logistics enterprises are synchronized, with most enterprises exhibiting higher technological progress efficiency compared to comprehensive technical efficiency. The total factor productivity of logistics enterprise innovation is mainly affected by comprehensive technical efficiency. [ABSTRACT FROM AUTHOR]

This paper investigates the effects of institutional investor horizons on investment efficiency in China. By analysing 26,831 firm‐year observations from Chinese listed companies, we find that long‐term (short‐term) institutional ownership is negatively (positively) associated with the level of inefficient investments. A battery of robustness tests indicates causality. Further analyses reveal that the rise in environmental uncertainty and information asymmetry are transmission channels for increased inefficient investments. Moreover, we find that the single controlling shareholder and state owner can curb the management myopia induced by short‐term institutional investors while they do not impede the monitoring effort of long‐term institutional investors. [ABSTRACT FROM AUTHOR]

Environmental sustainability has gained significant importance for organizations, highlighting the crucial role of business leaders in addressing environmental degradation. However, the connection between chief executive officer (CEO) characteristics and environmental sustainability remains understudied in academic literature. Understanding this relationship is crucial, considering the significance of environmental sustainability in organizational strategies. This paper presents the first systematic literature review (SLR) on this topic, aiming to identify gaps and opportunities for future research. The SLR analysed 139 studies on the CEO–environmental sustainability relationship. The findings indicate a recent increase in research activity, particularly peaking in 2022 and focusing on China and the United States. Most studies employed upper echelons theory and examined the influence of CEO demographic characteristics on environmental performance. However, less attention has been given to CEO psychological traits, such as personality and ethical leadership, and environmental disclosure. Furthermore, qualitative aspects of environmental disclosure, including reporting tone, readability and specificity, have received less attention. The findings offer valuable insights for academics, practitioners and policymakers. Recommendations for future research include exploring the impact of CEO psychological traits and environmental disclosure on a firm's environmental sustainability. Additionally, studying cross‐country and cross‐industry differences in this relationship is encouraged. This study makes a significant contribution to the field by shedding light on the crucial and relevant topic of environmental sustainability and its association with CEO characteristics, providing valuable insights to guide future research and inform decision‐makers. [ABSTRACT FROM AUTHOR]

The economic and financial risks of global warming have become a hot issue of academic interest. This article analyzes global warming, financial risk, and the economic statistics of 30 provinces in China from 2010 to 2020 as a sample to assess the influence of the severity of global warming on financial risk. Global warming is found to affect financial risk and to have a substantial favorable influence on the amount of financial risk. Global warming also has significant effects on households, enterprises, financial institutions, and governments. There is heterogeneity in the effects of climate variation on financial risk. Global warming will cause a greater accumulation of financial risk in economically developed regions. Additionally, it will lead to financial risks by causing a decline in the incomes of residents, a decline in the profits of enterprises, growth in the number of loans that financial institutions consider to be nonperforming, and a widening of the gap between government revenue and expenditures. All of these effects will have an adverse domino effect on the economy. To reduce the financial risks caused by global warming, countermeasures are being offered to ensure social cohesion, conduct risk stress testing, create risk mitigation instruments, and encourage environmentally responsible development. This paper discusses policies and provides policymakers with recommendations on how to cope with the systematic financial risks induced by climate variation. [ABSTRACT FROM AUTHOR]

Organic‐rich shale in saline lacustrine basins holds significant importance as a source rock for conventional hydrocarbon exploration and has emerged as a prominent target for unconventional hydrocarbon exploration and development in recent years. Based on saline lacustrine basins, this paper provides a summary of the organic matter enrichment mechanisms in saline lacustrine basins, considering sedimentary characteristics, biological activities, factors for the organic matter enrichment and consumption, and hydrocarbon generation. The implications for these factors are discussed in relation to the distribution prediction of high‐quality lacustrine shale district settings and the exploration and development of shale oil. Saline lacustrine basins undergo distinct evolutionary stages, each corresponding to different sedimentary stages involving carbonate minerals, sulphate minerals, and alkaline minerals. Moreover, these basins exhibit diverse biological types and experience extensive biological activities. The prosperity of organisms and the accumulation of sedimentary organic matter are ensured by halophilic organisms. Organic matter enrichment in saline lacustrine basins is influenced by two main aspects: the primary productivity of organic matter, which is promoted by the proliferation of halophilic organisms, and the efficient preservation of organic matter facilitated by the strong reducing environment resulting from promoted water salinity stratification. The organic matter consumption in saline lacustrine basins involves bacterial sulphate reduction (BSR) in the early stages, thermochemical sulphate reduction (TSR) in the late stages, and dilution of salt minerals with higher depositional rates. of the presence of salt beds and saline minerals positively influences hydrocarbon generation and expulsion in organic‐rich shale within saline lacustrine deposition. Consequently, continental saline lacustrine basins in China offer favourable conditions for the formation of organic‐rich shale and present broad prospects for the exploration of shale oil and gas resources. [ABSTRACT FROM AUTHOR]

This paper examines the impacts of a government‐led e‐commerce expansion project on household income. We find that the project has led to increases in rural household income. The positive impacts are more prominent for lower‐income rural households. The income‐increasing effects are driven by the reduction in information search costs and transportation costs. The provision of complementary interventions for e‐commerce, such as promoting the internet‐related skills of farmers and the expansion of formal financial credit support is also important for the program's success. The results provide policy implications for the design and implementation of government‐led e‐commerce policies in developing economies. [ABSTRACT FROM AUTHOR]

This article discusses the management of invasive alien species (IAS) in China. It highlights the negative impacts of biological invasions on ecosystems, the environment, and the economy. The article presents 24 papers that cover a wide range of topics related to IAS management, including risk analysis, mechanisms of invasion success, performance of successful IAS, and impact and control of invasive species. The studies use various methods such as field surveys, experiments, ecological modeling, and molecular techniques to assess invasion risks, investigate mechanisms, and develop control strategies. The article emphasizes the importance of interdisciplinary research and effective management strategies to address the increasing threat of IAS in China. [Extracted from the article]

Using the Haken model to explore the synergistic evolutionary characteristics and competition trends of agricultural resilience and eco‐efficiency can establish a theoretical foundation for achieving high‐quality and sustainable agricultural development. The traditional Haken model cannot address the issue of the lack of directionality in synergy values, but incorporating the tendency theory of the coupling coordination model into the Haken model can solve this problem, thus establishing propensity synergistic Haken model to give values directionality. Established a more comprehensive evaluation system for China's agricultural resilience. Measuring agricultural system resilience in China's 31 provinces and cities from 2001 to 2021. The synergistic values between agricultural resilience and eco‐efficiency were measured by the improved Haken model. Results show that: (1) Agricultural resilience exhibits a stable upward trend, but the overall level is low. Regional differences have been increasing over time. (2) Eco‐efficiency is the sequential covariate of synergistic evolution by the two systems. The overall synergy level between agricultural system resilience and eco‐efficiency is higher. (3) Considering the "propensity synergistic," the overall change from low‐level benign synergy to high‐level benign synergy between agricultural resilience and eco‐efficiency in China. (4) The propensity synergy Haken model can compensate for the directionality‐lack problem of the traditional Haken model synergy value. [ABSTRACT FROM AUTHOR]

The current paper investigates whether the exchange rate asymmetrically influences domestic investment in China. To this end, the nonlinear autoregressive distributed lag (NARDL) process is applied to investment data disaggregated by China's 31 provinces. We discover that there is evidence that the ups and downs of the yuan have asymmetric impacts on domestic investment for some provinces, though not all, in both the long‐ and short‐run. [ABSTRACT FROM AUTHOR]

Systematic reviews (SRs) and meta‐analyses (MAs) are of great importance for basing clinical decisions. However, misleading interpretations may result when informed decisions rest on biased review papers with methodological issues. To evaluate which treatment is optimal, an overview was made of SRs and MAs to establish the quality and certainty of meta‐evidence published on the efficacy of laser‐based refractive surgery techniques for treating myopia in adults. A search was made in five databases and was updated using Really Simple Syndication (RSS) feed appliances up to April 2021; SRs with or without MAs were included. Methodological quality was appraised using the AMSTAR‐2 tool. The best available reviews were summarized using the GRADE approach. The corrected covered area (CCA) was used to determine the degree of over‐representation of publications. The risk of bias of the primary studies was disclosed visually. Thirty‐six studies published between 2003 and 2021 were included. Twenty SRs (56%) were conducted in China. The most studied comparisons were SMILE versus FS‐LASIK (19%) and FS‐LASIK versus MM‐LASIK (11%). Of the 251 overlapping index publications, 165 were unique (CCA = 0.015%), representing a negligible risk of skewed reporting. The AMSTAR‐2 tool showed most SRs to have critically low or low quality. Nine reviews presented moderate quality. The GRADE approach of the 41 a priori outcomes evidenced critically low and low certainty of evidence. Only the spherical equivalent refraction changes at 12 months between LASEK and PRK showed moderate certainty of evidence, favouring PRK (mean difference 0.06, 95%CI [−0.02 to 0.14], I2 = 0%; p ≥ 0.05). Index trials among less biased reviews are prone to selection, performance and reporting bias. The appraised techniques exhibit comparable results in terms of efficacy. There is moderate certainty of evidence in favour of the use of PRK over LASEK in terms of the spherical equivalent refraction error changes at 1 year of follow‐up. Most appraised SRs presented methodological flaws in critical domains, resulting in a low to critically low certainty of evidence after GRADE appraisal. Therefore, investigators need to study and compare the different laser‐based refractive techniques to provide better evidence‐based medicine. Further well‐designed, high‐quality clinical trials and SRs are needed to reappraise the current findings. [ABSTRACT FROM AUTHOR]

This paper investigates the effect of economic policy uncertainty on the consumption response to household debt using household‐level data from China. Our results suggest that there is a positive relationship between household debt and consumption. However, a higher level of economic policy uncertainty not only weakens this positive relationship but also inhibits the effect of household debt on the consumption structure. In addition, the negative impacts of policy uncertainty are stronger among households that are more liquidity constrained, whose heads have lower cognitive abilities and financial literacy, and that are located in provinces with lower levels of digital financial inclusion. [ABSTRACT FROM AUTHOR]

How to stimulate enterprise investment is a dilemma facing most countries, and tax incentives are frequently used as a solution. This study explores how China's Income Tax Revenue Sharing Reform affected enterprises' fixed asset investment (FAI). This reform did not modify the nominal tax rate or depreciation allowance directly but changed the effective enterprise income tax (EIT) rate via switching tax administration indirectly. And the change in the effective EIT rate should affect firm investment. This paper uses a regression discontinuity (RD) design to conduct a quasi‐natural experiment of the reform in 2002 based on an enterprise‐level dataset from the Annual Survey of Industrial Enterprises (ASIE). After the reform, the effective EIT rate (ETR) of enterprises collected by the State Administration of Taxation (SAT) was 11% lower than that collected by the Local Administration of Taxation (LAT). FAI improves by 0.7% for every 1% decrease in ETR. Tax avoidance is a key channel for the ETR to affect FAI. The FAI of smaller companies, non‐state‐owned enterprises (SOEs) and companies with high size‐age (SA) indexes has responded more significantly to the change in ETR brought about by reform. [ABSTRACT FROM AUTHOR]

This paper investigates whether and how employee quality affects corporate social responsibility (CSR). We find that firms with a high‐quality workforce are associated with more CSR engagement. We use an exogenous shock of household registration reform in China to employee mobility to support a causal inference. The main effect is more pronounced among firms whose human capital has more value‐added (e.g., firms in high‐tech industries, firms with more R&D investment, and patent filings). Further, we show that employees' bargaining power and monitoring role are potential channels through which employee quality affects CSR. Finally, our results also demonstrate that the employee quality effect is economically sizeable and generates positive externalities on future financial performance and firm value. [ABSTRACT FROM AUTHOR]

Currently, opinions on whether and how ride‐hailing services have impacted the use of traditional taxis are divided, and no consensus has been reached. This paper used panel data from 44 cities in China from 2010 to 2016 to estimate the impact of ride‐hailing services on the use of traditional taxis by applying the multiperiod difference‐in‐difference (multiperiod DID) method and conducting a series of robustness tests. The results show that ride‐hailing services have a large, negative impact on the use of traditional taxis, and this negative impact is more severe in eastern cities. These results suggest that in China it is necessary for traditional taxi operators to make changes and innovations to become more sustainable in response to pressure from ride‐hailing services. Additionally, it is suggested that city governments in China pay greater attention to the impact of emerging ride‐hailing services on traditional taxi services, embrace emerging modes of mobility, and create appropriate policies to coordinate the development of both new and traditional services. [ABSTRACT FROM AUTHOR]

Copyright of Regional Science Policy & Practice is the property of Wiley-Blackwell and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Copyright of Regional Science Policy & Practice is the property of Wiley-Blackwell and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

The Zhangguangcai Range is located in the junction zone of the Palaeo‐Asian and Palaeo‐Pacific tectonic regimes; Mesozoic igneous rocks in this area are considered to have been formed in an active continental margin, which is related to the western subduction of the Palaeo‐Pacific Plate beneath the Eurasian continent. However, the nature of the mantle wedge and related melting mechanism remains unclear. This paper reports zircon U–Pb data, whole‐rock geochemistry, and zircon Lu–Hf isotope for a Late‐Triassic high‐Mg andesite in the southern part of the Zhangguangcai Range. Zircons from the andesite yield a concordant 206Pb/238U age of 218.6 ± 3.3 Ma, which is contemporary with the diorite in the study area. The Lengshan high‐Mg andesite is characterized by moderate SiO2 (57.30–60.15 wt.%), high Mg# (61–67), Al2O3 (15.05–17.35 wt.%), (La/Yb)N (16.9–22.4), and variable Na2O/K2O (1.06–1.59). Its insignificant Eu negative anomalies (Eu/Eu* = 0.88–0.99) and high Sr/Y (68.4–96.4) may prove the existence of garnet or amphibole in the residual melt, where feldspar is more or less absent. The andesite is enriched in Rb, Ba and depleted in Nb, Ta, Ti, and other high‐field‐strength elements, with Nb/Ta ratios of 14.6–17.2, U/Th ratios of 0.28–0.31. In combination with its depleted zircon Lu–Hf isotopic compositions (e.g., εHf(t) = −0.48 to +13.1), it is proposed that the high‐Mg andesite formed by hydrous melting of the mantle wedge, which was metasomatized by slab‐derived adakitic melts. The subsequent assimilation of ancient crust results in the formation of some zircons with negative Eu*/Eu anomalies (0.05–0.1) and εHf(t) values (−13.8 to −18.5), which is approved by the relative evolved whole‐rock Sr–Nd isotopic compositions. [ABSTRACT FROM AUTHOR]

China's extensive economic growth has been accompanied with high levels of pollution, and excessive energy consumption has brought serious pollution problems. The use of financial resources to regulate green production modes and encourage high‐quality economic development has become a major focus in academia. At the same time, growth enterprise market (GEM) enterprises, which mainly operate in technology‐intensive industries, are assumed to have a simulating effect on regional innovation. Therefore, this paper utilizes the capital return differences of 4437 listed companies and 920 GEM companies based in 30 provinces of China from 2008 to 2018 to quantitatively analyze the levels of financial misallocation. With two‐stage regression method, the direct effect of financial misallocation on regional green total factor energy efficiency (GTFEE) and the indirect impact observed when taking regional innovation as an intermediary variable are discussed. Furthermore, dynamic threshold panel regression and heterogeneity analysis are used to verify the above nonlinear relationship. The empirical findings indicate that financial misallocation enhances innovation capability and further restrains GTFEE. With an improved degree of marketization and environmental regulation, the inhibitory effect of financial misallocation on GTFEE is more significant. [ABSTRACT FROM AUTHOR]