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The existence of structural change features can lead to the failure of traditional econometric methods. This research uses the Bai-Perron test to diagnose the structural change point of the price series in China's pilot carbon market. It uses an impulse response function to analyze the interaction between carbon prices and energy prices, stock price indices, power industry index, and similar asset prices. The results show structural change points in all five carbon markets during the operation period, and the timing of these structural change points relates to an economic situation and compliance period. In addition, the impact mechanisms of the stock price index, similar asset price, and power industry index on the price of China's pilot carbon market change significantly before and after the structural change points, but the impact of energy price does not change except for the Hubei carbon market. [ABSTRACT FROM AUTHOR]

The impact of energy price fluctuation on the macro economy is a hot issue that is continuously concerned by the academic community, but few literature have paid attention to the impact of energy price fluctuation on housing price and the financial risks that may arise. Based on the data of cities at and above the prefecture level in China, this paper empirically examines the impact of energy price fluctuation on the price fluctuation of the domestic real estate, and analyzes its influencing mechanism and transmission pathways. The results show that changes of energy price will significantly affect the fluctuation of domestic real estate price, and it is more obvious in large cities and megacities. Energy price affect the demand for housing through changes of interest rate levels on the one hand, and the supply of the real estate market through the cost of housing construction on the other hand, which leads to housing price fluctuation. After a series of robustness tests, the results are still valid. At the same time, the effect is asymmetric, that is, higher energy price increases the fluctuation of house price, but the impact of falling energy price is not significant. Therefore, when preventing real estate market risks, energy price should be considered as a forward-looking indicator to focus on, and the regulation and control policies of the real estate market should be scientifically formulated. This paper not only provides a new perspective on the mechanism of housing price formation, but also enriches the research on the interconnection between energy and financial markets. [ABSTRACT FROM AUTHOR]

The power sector is one of the major CO2-emitting industries in China. It is also the first key emissions control industry included in China's national carbon trading market established in 2021. Therefore, based on the data of 30 provinces and cities in China from 2015 to 2022, this study analyzes the impact of the national carbon market policy on the carbon emissions of the power industry based on the generalized Difference-in-Difference (DID) model. Based on the method of text analysis, this paper constructs the carbon market policy intensity index of each region and incorporates it into the DID model. Empirical analysis finds that the national carbon market policy can significantly inhibit the carbon emissions of the power industry. However, the heterogeneity analysis of 30 provinces and cities shows that the national carbon market policy has a significant impact on the regions that already have a carbon pilot, but not on the non-pilot regions. Therefore, this paper demonstrates the effectiveness of the national carbon market policy in the power industry emissions control, and also exposes the heterogeneity between regions, providing an important empirical basis for the inclusion of other energy-intensive industries. [ABSTRACT FROM AUTHOR]

Effective forecasting of energy consumption structure is vital for China to reach its "dual carbon" objective. However, little attention has been paid to existing studies on the holistic nature and internal properties of energy consumption structure. Therefore, this paper incorporates the theory of compositional data into the study of energy consumption structure, which not only takes into account the specificity of the internal features of the structure, but also digs deeper into the relative information. Meanwhile, based on the minimization theory of squares of the Aitchison distance in the compositional data, a combined model based on the three single models, namely the metabolism grey model (MGM), back-propagation neural network (BPNN) model, and autoregressive integrated moving average (ARIMA) model, is structured in this paper. The forecast results of the energy consumption structure in 2023–2040 indicate that the future energy consumption structure of China will evolve towards a more diversified pattern, but the proportion of natural gas and non-fossil energy has yet to meet the policy goals set by the government. This paper not only suggests that compositional data from joint prediction models have a high applicability value in the energy sector, but also has some theoretical significance for adapting and improving the energy consumption structure in China. [ABSTRACT FROM AUTHOR]

In recent years, in order to address climate change and energy depletion, countries around the world have been constantly promoting energy transformation and structural upgrading. The effectiveness of RCEP has broadened the international east Asian new energy market. The development of renewable energy trade in the context of RCEP has attracted significant economic, environmental, and technical attention. Based on the background of RCEP in this study, the constant market share (CMS) model and the weighted dominant comparative advantage (IRCA) index are used to assess the export competitiveness of renewable energy products from 2006 to 2021. The data in this paper were obtained from the UN comtrade database according to the categorical statistics of HS codes. The results show that: (1) the overall competitiveness of Chinese renewable energy products shows an upward trend; (2) the comparative advantages of Chinese renewable energy products are strong, with some differences among different industries; (3) the growth effect is the main reason for the fluctuation of Chinese renewable energy product exports; and (4) the signing of RCEP has injected new vitality into Chinese renewable energy trade. Finally, based on the research conclusions, the paper puts forward corresponding policy proposal. [ABSTRACT FROM AUTHOR]

Introduction: Environmental information disclosure is an important means to protect the ecological environment, and global climate change puts forward higher requirements for corporate environmental information disclosure. New energy companies play an important role in addressing climate change and environmental information disclosure, and should strengthen environmental information disclosure and actively participate in ecological environmental protection. Methods: This paper selected Chinese new energy listed companies as the research sample to investigate the impact of green credit on corporate environmental information disclosure, and proposed and empirically tested the hypothesis on the mechanism of the effect of green credit on environmental information disclosure. Results: The regression results indicated that green credit can effectively improve the quality of corporate environmental information disclosure, and this conclusion is still significantly valid after robustness test; The impact mechanism tests showed that green credit can change the level of corporate environmental information disclosure by controlling company size. This paper also tested the heterogeneity and adjustment effects, showing that the relationship between green credit and environmental information disclosure are affected by multiple factors. Discussions: Combining the research of this paper and previous research results, it is found that the positive impact of green credit on corporate environmental information disclosure has been confirmed by academic research and practical verification. However, the implementation effect of green credit policy will be affected by the economic level, regional differences, and the comprehensive impact from companies, financial institutions and government departments. [ABSTRACT FROM AUTHOR]

Understanding the dynamic link between the development of COVID-19 pandemic and industry sector risk spillovers is crucial to explore the underlying mechanisms by which major public health events affect economic systems. This paper applies ElasticNet method proposed by Diebold and Yilmaz (2009, 2012, 2014) to estimate the dynamic risk spillover indicators of 20 industrial sectors in China from 2016 to 2022, and systematically examines the impact of industry risk network fluctuations and the transmission path caused by COVID-19 shock. The findings reveal that risk spillovers of Chinese industries show a dynamic change of "decline-fluctuation-rebound" with the three phases of COVID-19 epidemic. At the beginning of the epidemic, machinery and equipment, paper and printing, tourism and hotels, media and information services, and agriculture were the exporters of epidemic risk, while materials, transportation equipment, commercial trade, health care, and environmental protection were the importers of epidemic risk; However, as the epidemic developed further, the direction and effect of risk transmission in the industry was reversed. Examining the network characteristics of the pair sectors, we found that under the epidemic shock, the positive risk spillover from tourism and hotels, culture, education and sports to consumer goods, finance, and energy industries was significantly increased, and finance and real estate industries were affected by the risk impact of more industries, while the number of industries affected by information technology and computer industry was significantly reduced. This paper shows that there is inter-industry risk transmission of the COVID-19 epidemic shock, and the risk transmission feeds back in a cycle between industries as the epidemic develops, driving the economy into a vicious circle. The role of the service sector in blocking the spread of negative shocks from the epidemic should be emphasized and brought into play to avoid increasing the overall economic vulnerability. This study will help to deepen the understanding of scholars and policy makers on the network transmission effects of the epidemic. [ABSTRACT FROM AUTHOR]

At the 75th United Nations General Assembly, China formally proposed the goals of achieving carbon peak by 2030 and carbon neutrality by 2060, which is referred to as the "double carbon" strategic goal. And energy revolution is the key to achieve this goal. More and more energy enterprises seek to promote the "double carbon" goal through the digital platformization. However, the mechanism of digital platformization promoting the realization of "double carbon" goal is still unclear. Based on the perspective of platform ecosystem and organization structure, this paper deeply analyzes the key intermediary role of energy production mode change and energy trading mode change in energy transformation. This paper also studies the regulatory effect of policy environment, digital platform characteristics, platform leverage, value chain changes, and the ability of digital technology practice and innovatively puts forward the theoretical model. This model reveals the transmission path and internal mechanism of digital platformization of energy companies to promote the realization of dual-carbon goal. Through the established model, this paper analyzes a case that present the commercial digital platformization process developed by Chinese energy company. Such an innovative process in China context has been developed in order to contribute to achieve "double carbon" goals for the future. [ABSTRACT FROM AUTHOR]

This research investigates how supply chain finance (SCF) affects the investment efficiency of new energy firms by adopting a sample of Chinese listed new energy enterprises from 2011 to 2019. With the help of data envelopment analysis (DEA) combined with the Banker-Charnes-Cooper (BCC) model, we calculate efficiency values and analyze the regression results of the Tobit model, and find that SCF significantly boosts the investment efficiency of new energy corporations by improving their cash-holding position. The results of mechanism analysis also suggest that both supply chain concentration and digital finance positively magnify the relation between SCF and corporate efficiency. After comparing the impact in the new energy firms with different characteristics, we conclude that the SCF effect in promoting corporate investment efficiency is more prominent for non-stateowned new energy enterprises located in the western region that have low equity concentration. The conclusions of this paper shed new light on the fusion of the SCF business into building a new energy industry cluster. [ABSTRACT FROM AUTHOR]

Purpose: With a growing demand for safe, clean and affordable energy, emerging economies (EEs) across the globe are now seeking to create and rapidly develop renewable energy (RE) businesses. The success of these businesses often hinges on their ability to translate RE into sustainable value for energy consumers and the multiple stakeholders in this industry. Such value includes low production costs due to an abundance of natural resources (e.g. wind, water and sunlight) and public health benefits from reduced environmental pollution. With that in mind, this paper aims to gauge RE's potential for sustainable value creation and then develop an effective RE business strategy. Design/methodology/approach: This paper develops a structural equation model, conducts an exploratory factor analysis, confirmatory factor analyses with and without common latent factors and proposes a moderated mediation analysis to identify a host of factors that influence the success of RE businesses. Findings: This paper discovers that RE business performance is significantly affected by integrated vision, intellectual capital and social capital. Originality/value: To the best of the authors' knowledge, this paper is one of the first empirical studies that identify various factors influencing successful RE businesses in EEs such as Asian (e.g. China and India) and Latin American countries. [ABSTRACT FROM AUTHOR]

Innovative activities are increasingly decentralized and globally dispersed, which provides new upgrading opportunities for emerging market firms. However, little is known about how latecomer firms (re-)organize their research and development (R&D) over time as conditions for upgrading change. This paper systematically maps the R&D networks of China's lead firms in the wind turbine industry. The empirical findings reveal that latecomer firms not only exploit but increasingly co-create vanguard knowledge in global R&D networks through organizational diversification. Taking an evolutionary perspective, the paper extends our understanding of the changing nature of upgrading mechanisms and provides new insights into the reorganization of innovation processes in an era of technological change. [ABSTRACT FROM AUTHOR]

Over the past few decades, China emerged as Africa's main partner in digital development. Sino-African cooperation in the Information and Communications Technology (ICT) sector meets African demand for advanced technologies and know-how while helping China to position itself in the global ICT sector. Albeit crucial for Africa's digital development in the short term, this paper argues that the breadth of Sino-African cooperation carries important long-term consequences that could afford China latent control over Africa's digital development. Drawing on Susan Strange's pillars of structural power, this paper considers how the rollout of fiber-optic network cables underpins Chinese control over production, how the construction of data centers might impinge on security, and how research partnerships enhance norms and standards in future innovation—the knowledge pillar. The paper argues that the enabling force of Sino-African cooperation in these three realms is Chinese finance. To test this claim, I conduct a Qualitative Comparative Analysis (QCA) of 42 states in Sub-Saharan Africa, showing that Chinese aid and, to a lesser extent, Chinese loans are the main drivers of Sino-African ties in the ICT sector. The paper concludes that Chinese financial support not only promotes Africa's digital development but also paves the way to Chinese structural power in the ICT sector. [ABSTRACT FROM AUTHOR]

Currently, both regulated and deregulated power trading exist in China’s power system, which has caused imbalanced funds in the electricity market. In this paper, a simulation analysis of the electricity market with wind energy resources is conducted, and the calculation methods of unbalanced funds are investigated systematically. In detail, the calculation formulas of unbalanced funds are illustrated based on their definition, and a two-track electricity market clearing model is established. Firstly, the concept of the dual-track system is explained, and the specific calculation formulas of various types of unbalanced funds are provided. Next, considering the renewable energy consumption, the market clearing model based on DC power flow is constructed and solved; by combining fitting methods of mid- and long-term curves, the unbalanced funds are calculated based on clearing results and formulas. [ABSTRACT FROM AUTHOR]

CO2 capture from coal power plants is an important and necessary solution to realizing carbon neutrality in China, but CCS demonstration deployment in power sector is far behind expectations. Hence, the reduction potential of energy consumption and cost for CCS and its competitiveness to renewable powers are very important to make roadmaps and policies toward carbon neutrality. Unlike the popular recognition that capturing CO2 from flue gases is technically and commercially mature, this paper notes that it has been proved to be technically feasible but far beyond technology maturity and high energy penalty leads to its immaturity and therefore causes high cost. Additionally, the potential energy penalty reduction of capture is investigated thermodynamically, and future CO2 avoidance cost is predicted and compared to renewable power (solar PV and onshore wind power). Results show that energy penalty for CO2 capture can be reduced by 48%-57%. When installation capacity reaches a similar scale to that of solar PV in China (250 GW), CO2 capture cost in coal power plants can be reduced from the current 28-40 US$/ton to 10-20 US$/ton, and efficiency upgrade contributes to 67%-75% in cost reduction for high coal price conditions. In China, CO2 capture in coal power plants can be cost competitive with solar PV and onshore wind power. But it is worth noting that the importance and share of CCS role in CO2 emission reduction is decreasing since renewable power is already well deployed and there is still a lack of large-scale CO2 capture demonstrations in China. Innovative capture technologies with low energy penalties need to be developed to promote CCS. Results in this work can provide informative references for making roadmaps and policies regarding CO2 emission reductions that contribute towards carbon neutrality. [ABSTRACT FROM AUTHOR]

It is well documented that people have misperceptions about energy costs. However, there is mixed empirical evidence about the effectiveness of information provision and its persistence over time. Understanding the interplay between information regarding the private and social benefits of low-carbon technologies and identifying mechanisms through which information treatments affect people's long-term behaviors can help reconcile the mixed findings in the literature. In this paper, we measured the long-term effects of information provision through online experiments involving more than 3,000 households in China. We provided people with information on low-carbon light bulbs' monetary and climate benefits and observed their purchasing decisions over 10 months. We find that information on private or social benefits leads to a temporary effect on most households and a persistent one on the uninformed. This evidence suggests that information provision works through two different mechanisms: increasing saliency and filling the information gap. This paper was accepted by Yan Chen, behavioral economics and decision analysis. Funding: Y. Gao received financial support from the National Natural Science Foundation of China [Grant 71903006]. M. Tavoni received financial support from the FP7 Ideas: European Research Council [Grant ERC-336155–COBHAM]. Supplemental Material: The data files and online appendix are available at https://doi.org/10.1287/mnsc.2023.4910. [ABSTRACT FROM AUTHOR]

The innovation ecosystem of the new energy vehicle industry is highly complex and spans several sectors; it is important to increase the resistance of the new energy vehicle industry network. This paper explores regional resilience in the context of China's new energy vehicle industry. Using patent cooperation data from 2011 to 2021, we construct a three-stage urban collaborative innovation network and analyze its structural characteristics. We also develop a resilience evaluation index system to measure the resilience of the network and its nodes. Furthermore, we propose a framework for resilience analysis that operates at the network, community, and node levels. Through our analysis of the network's resilience characteristics and evolution, we investigate the driving mechanisms behind its formation using the exponential random graph model (ERGM). Empirical results demonstrate that the urban collaborative innovation network is expanding and strengthening, with increased resilience and the ability to withstand uncertainty. Notably, the distribution of node resilience exhibits spatial heterogeneity, with cities in the eastern and central regions demonstrating higher resilience than those in other areas. Furthermore, the study finds that economic development and investment in education and technology can enhance network connections and resilience. Additionally, this paper reveals a strong dependence of inter-city cooperation on geographical proximity. [ABSTRACT FROM AUTHOR]

Nigeria is one of the top countries of China's outward foreign direct investments in energy and power projects to meet the needs of China's fast-growing energy-intensive industries. Following several risks faced by investors to invest in countries with high levels of regulatory, judicial and political uncertainties that appeared in most African states, including Nigeria, contracting parties often take steps to advance and enhance their investment relations and investment climate through an agreement or bilateral investment treaties. This paper examines the China–Nigeria Bilateral Investment Treaty (BIT) and the investment arbitration framework in place in the energy sector. It includes a general analysis on China–African BITs and features common difficulties and possible ways of addressing them. It analyzes the adequacy or otherwise of these frameworks and the various protections afforded to the contracting parties or the host state and the investors. It contends that the current China–Nigeria BIT is lacking essential environmental and social aspects, including sustainable development, corporate social responsibility, transparency and respect for the human rights of host communities, for the promotion of better China–Nigeria investment relations. Notwithstanding the fact that there has not been any known energy dispute in China–Nigeria-related projects, this paper calls for the need for an effective and efficient dispute resolution mechanism to address future disputes between the parties, in order to promote a favorable investment climate for Chinese (and international) investors willing to invest in Nigeria. It advocates that the China–Nigeria BIT should be unambiguous and well drafted to cover issues that could best address investment disputes in the energy sector. [ABSTRACT FROM AUTHOR]

The current Chinese electricity market and carbon market are built relatively independently, without coupling and synergy, and the incoherence between the two markets is beginning to emerge. Carbon emissions costs in the carbon trading market will affect the marginal cost of renewable energy and thermal power in the electricity market, limiting market participants' profitability. In order to simulate and evaluate the changes of LCOE of renewable energy and thermal power in the "electricity-carbon" market environment, this paper presents the calculation method of carbon emission cost of thermal power and CCER benefit of renewable energy based on the relevant regulations in China, and calculates the carbon emission cost transmission rate of thermal power based on Cournot model. In addition, we proposed a method for calculating the LCOE based on the international common calculation method for LCOE, combined with China's taxation policy and the cost and benefit factors of renewable energy and thermal power in the carbon market, and proposed a method for calculating the LCOE applicable to the "electricity-carbon" market environment in China. The findings indicate that as a result of the influence of the carbon market, the levelized cost of energy (LCOE) cost of thermal power will increase, and the profitability of thermal power in the electricity market will be further reduced. On the other hand, the LCOE cost of renewable energy will further decrease, and its profitability will improve due to the additional CCER benefits in the carbon market. [ABSTRACT FROM AUTHOR]

With the challenge posed by global warming, accurately estimating and managing carbon emissions becomes a key step for businesses, especially power generation companies, to reduce their environmental impact. Optuna–LightGBM–XGBoost, a novel power and carbon emission relationship model that aims to improve the efficiency of carbon emission monitoring and estimation for power generation companies, is proposed in this paper. Deeply exploring the intrinsic link between power production data and carbon emissions, this model paves a new path for "measuring carbon through electricity", in contrast to the emission factor method commonly used in China. Unit data from power generation companies are processed into structured tabular data, and a parallel processing framework is constructed with LightGBM and XGBoost, and optimized with the Optuna algorithm. The multilayer perceptron (MLP) is used to fuse features to enhance prediction accuracy by capturing characters that the individual models cannot detect. Simulation results show that Optuna–LightGBM–XGBoost can achieve better performance compared to existing methods. The mean absolute error (MAE), mean squared error (MSE), mean absolute percentage error (MAPE), and coefficient of determination (R2) of the model are 0.652, 0.939, 0.136, and 0.994, respectively. This not only helps governments and enterprises to develop more scientific and reasonable emission reduction strategies and policies, but also lays a solid foundation for achieving global carbon neutrality goals. [ABSTRACT FROM AUTHOR]

As a flexible resource, energy storage plays an increasingly significant role in stabilizing and supporting the power system, while providing auxiliary services. Still, the current high demand for energy storage contrasts with the fuzzy lack of market-oriented mechanisms for energy storage, the principle of market-oriented operation has not been embodied, and there is no unified and systematic analytical framework for the business model. However, the dispatch management model of energy storage in actual power system operation is not clear. Still, the specific scheduling process and energy storage strategy on the source-load-network side could be more specific, and there needs to be a greater understanding of the collaborative scheduling process of the multilevel scheduling center. On this basis, this paper reviews the energy storage operation model and market-based incentive mechanism, For different functional types and installation locations of energy storage within the power system, the operational models and existing policies for energy storage participation in the market that are adapted to multiple operating states are summarized. From the point of view of the actual scheduling and operation management of energy storage in China, an energy storage regulation and operation management model based on “national, provincial, and local” multilevel coordination is proposed, as well as key technologies in the interactive scenarios of source-load, network and storage. [ABSTRACT FROM AUTHOR]

Against the backdrop of "carbon peaking and carbon neutrality" goals in China, the park-level integrated energy system is a significant approach to meeting the energy consumption demand of users and improving the utilization rate of new energy. To take into account both the interests of integrated energy services (IES) providers and the current power market rules in China, targeting at low-carbon energy consumption, a balancing service mode for integrated energy services providers is created herein based on the idea of balancing multiple interests of regional integrated energy services providers. It aims to break down the market barriers and address the tricky problem that the integrated energy services industry fails to establish a sophisticated industrial system under the original mode. Combining the integrated energy services with the auxiliary market of power balance, the paper analyzes the characteristics of energy flow within the system, and puts forward the optimization scheme of regional integrated energy balancing services under the low-carbon background. The objective is solved by Mayfly algorithm and compared for analysis, and the results show that the optimal daily operating cost is 2632.59 yuan and the daily carbon emission is 3869.90 kg under the typical industrial scenario. The examples provided here show that the optimization plan for integrated energy balancing services can reduce carbon emissions from the park-level integrated energy system and boost the revenue for integrated energy service providers. It provides theoretical support for the green transformation of energy enterprises and promotes the healthy development of the global integrated energy industry. [ABSTRACT FROM AUTHOR]

In recent years, the vigorous development of the wind power industry has become an important measure in the transformation of energy structure in China. However, the overall low technical efficiency of wind farms has severely hindered wind power industrial development. It is of great practical significance to evaluate the technical efficiency (TE) of wind power in China and analyze its main factors. Most of the existing literature on the assessment of the TE of wind power in China focuses only on large listed companies and applies the traditional data envelopment analysis (DEA) while ignoring its potential shortcomings for TE estimation. Based on panel data, this paper used stochastic frontier analysis (SFA) to construct an analytical model for assessing the TE and influencing factors of Chinese wind farms and compared the results with those from DEA to verify the robustness. The empirical results showed that the TE of Chinese wind farms was generally low. The age of a wind farm and its power consumption have a negative impact on its technical efficiency, while the utilization of power generation equipment has a positive impact on its technical efficiency. Enhancing the technological innovation capabilities of wind power companies, speeding up the construction of supporting infrastructure and solving structural problems of wind power supply and demand are important measures for the wind power industry to improve the overall TE and promote industrial development in China. [ABSTRACT FROM AUTHOR]

Background: Saudi Arabia (KSA) is a global leader in producing fossil fuels and has primarily relied on this energy source for its Gross Domestic Product (GDP). However, after the 2014 oil crash, the country established Vision 2030, intending to shift toward a non-oil dependent economy. Through this vision, Saudi Arabia aims to increase generation of electricity from clean energy sources by 30%. This paper examines the effectiveness of strict intellectual property (IP) regulations aiming to develop the renewable energy (RE) sector. Methods: In this paper, the author examines the effectiveness of strict intellectual property rights in-depth to develop innovation in the renewable energy sector as mentioned in Saudi Arabia's 2030 Vision. The paper makes a comparison with countries, such as the EU and China, regarding the extent to which strict intellectual rights have improved innovation. The author uses an inductive research approach that relies on qualitative data since it critically analyses regulations and policies in many countries, such as Saudi Arabia, the EU, and China. Results and conclusions: The author finds that financial incentives are more effective than in developing innovation in the renewable energy sector. Most importantly, developing countries benefit from financial incentives to increase innovation since many developed countries have adopted a strict IP law after their markets developed. [ABSTRACT FROM AUTHOR]

The launch of the national carbon emissions trading (CET) market has resulted in a closer relationship between China's CET market and its electricity market, making it easy for risks to transfer between markets. This paper utilizes data from China's CET market and electric power companies between 2017 and 2023 to construct the spillover index model of Diebold and Yilmaz, the frequency-domain spillover approach developed by Barun'ik and Křehl'ik, and a minimum spanning tree model. The comparison is made before and after the launch of the national CET market. Subsequently, this paper examines the market spillover effects, as well as the static and dynamic properties of network structures, considering both the time domain and frequency-domain perspectives. The research findings suggest the following: (1) There is a strong risk spillover effect between China's CET market and the stock prices of electric power companies; (2) There is asymmetry in the paired spillover effects between carbon trading pilot markets and the national CET market, and differences exist in the impact of risk spillovers from power companies between the two; (3) The results of the MST model indicate that the risk contagion efficiency is higher in the regional CET pilot stage compared to the national CET market launch stage, with significant changes occurring in key nodes before and after the launch of the national CET market; (4) Both the dynamic spillover index and the standardized tree length results demonstrate that crisis events can worsen the risk contagion between markets. Besides offering a theoretical foundation and empirical evidence for the development of China's CET and electricity markets, the findings of this paper can provide recommendations for financial market participants as well. [ABSTRACT FROM AUTHOR]

Purpose: Prior studies have confirmed market segmentation as an important shackle to China's macroeconomy upgrade, but the systematic analysis of microenterprise upgrade remains inadequate. This paper aims to investigate the nonlinear impact of market segmentation on microenterprise upgrade. Design/methodology/approach: The price method was applied to calculate China's provincial market segmentation, including commodity, capital, labor and energy. The generalized method of moments was employed to examine the nonlinear impact of market segmentation on the upgrading of manufacturing enterprises based on microenterprise data from 2003 to 2019. Findings: First, China's heterogeneous market segmentations have been significantly reduced. Macroeconomics and policies are critical factors in market integration. Second, there is an inverted U-shaped relationship between China's total market segmentation and the upgrading of manufacturing enterprises. Third, the relationship between the commodity market segmentation, labor market segmentation, energy market segmentation and manufacturing enterprises' upgrade is shown as an inverted U-shaped. Nevertheless, the relationship between the capital market segmentation and upgrading of manufacturing enterprises exhibits a U-shape. Originality/value: The impact of market segmentation on the upgrading of manufacturing enterprises in China performs nonlinearly. An inverted U-shaped relationship exists between market segmentation in commodity, labor and energy and the upgrading of manufacturing enterprises, while a U-shaped relationship prevails between capital market segmentation and the upgrading of manufacturing enterprises. [ABSTRACT FROM AUTHOR]

This paper explores how policies of market liberalization and partial privatization of State-Owned Enterprises (SOEs) involved in the production and provision of key inputs – banking, energy and telecom – affect the vulnerability and resilience of an economy. SOEs' response to such policy changes and their ability to operate under the new market conditions are crucial for maintaining quality and continuity in the supply of intermediate goods and services that underlie the functioning of the economy and society. The paper analyses this issue in the context of Chinese SOEs' reforms. It finds that privatization and liberalization in China have been designed (i) to strengthen the economy's resilience, as access to private capital and foreign markets has contributed to companies' growth and to increase the stock and quality of critical infrastructure for the country; but also (ii) to minimize the vulnerabilities that arise from such policies, by envisaging measures against volatility in capital markets and the destabilizing effect of market competition through ad hoc regulation. The paper may prove relevant for the next steps of Chinese SOEs' reforms and its findings might find applicability in other geographical contexts as well. [ABSTRACT FROM AUTHOR]

In pursuit of China's goals for carbon peak and carbon neutrality, wind turbines are continually evolving to achieve a lower levelized cost of energy. The primary technological focus in the wind power industry is on large-scale, lightweight designs for entire turbines to enhance cost competitiveness. However, this advancement has led to an increased risk of blade fractures under extreme operating conditions. This paper addresses this challenging issue by using geometrically exact beam theory to develop a nonlinear simulation model for long, flexible blades. The model accounts for sudden changes in blade properties at the moment of failure, covering both the extensive motions and deformations of the fractured blade. The validation of the proposed model is carried out by comparing the results from power production cases with bladed simulations and further validating the simulations of blade fracture load cases against measurement data. The methodologies and findings presented in this study offer valuable insights for diagnosing faults in wind turbines. [ABSTRACT FROM AUTHOR]

Taking new energy vehicle (NEV) listed enterprises from 2010 to 2018 as a research sample, this paper empirically analyzes the innovative impact of VC on NEV enterprises by applying the difference-in-difference (DID) model. The results indicate that the intervention of VC has a positive and significant impact on the green technological innovation in NEV enterprises, an impact which is reflected in a significant increase in the number of green invention and green utility model patent applications. Compared with state-owned NEV enterprises, VC plays a more significant role in promoting the green technological innovation of private and foreign NEV enterprises. In the NEV industry chain, VC has significantly promoted green technological innovation of upstream and midstream NEV enterprises. From the perspective of VC, it also finds that, compared with independent and local VC, it is the syndicated and non-local VC that have a more positive and significant impact on green technological innovation in the NEV enterprises. Besides, the high-reputation of VC has not had an "incubating" effect on green technological innovation in NEV enterprises. [ABSTRACT FROM AUTHOR]

Developing new energy vehicles is vital to promote green development and the harmonious coexistence of humans and nature. It is also the only way to help China move from a significant automobile country to a powerful automobile country. Based on the background of the "recession" of government subsidies and considering the importance of green credit in promoting green and low-carbon transformation, this paper constructs a four-party evolutionary game model that includes government, automotive companies, banks, and consumers to analyze the stability of the strategic choices of various parties in the development process of the new energy vehicle industry. It uses MATLAB simulation tools to analyze the impact of relevant factors on system stability. The research shows that: (1) The government's subsidy mechanism significantly promotes the development of the new energy vehicle industry. Still, there is a subsidy threshold, beyond which the effect will weaken and quickly bring financial pressure. (2) With the gradual decline of government subsidies, the bank's green credit policy has a specific policy complementary effect on the decline of government subsidies. (3) Considering that costs and benefits are the main influencing factors for automotive companies and consumers' strategic choices, the impact of factors such as the punishment of violations, adjustment of subsidy policies, and consumers' environmental awareness must also be paid attention to. [ABSTRACT FROM AUTHOR]

Purpose: This study aims to explore how earnings management techniques are affected by corporate financial debt risk (FDR), internal control (IC) effectiveness and CEO education. Design/methodology/approach: The study uses a sample from listed firms in China from 2010 to 2017, comprising different industries, including agriculture, forestry, livestock farming and fishing; mining; manufacturing; electric power, gas and water production and supply; construction; transport and storage; information technology; the real estate industry; social services; and communication and cultural. The regression analysis is used to test the hypotheses. The two-stage least squares technique is used to check for endogeneity issues. Findings: The study finds that firms are less likely to manage real earnings when they have more robust IC and FDR. Likewise, companies with weak ICs are more likely to manipulate real earnings. Besides, the study finds an influence of CEO education on the relationship between IC, FDR and real earnings management (REM). These results can be applied to the sectors in the sample covered by the research, and the authors do not overlook the energy industry sector for the importance of its role in the economy. Research limitations/implications: There are some limitations for the researcher when performing any research, and this study is no exception. Researchers are urged to take these circumstances into consideration when generalizing or comparing the results because the methods used to calculate the measurement variables in each study may differ somewhat from those used in other research. In addition, expanding the current research design to incorporate additional nations may be an area of interest for future research and could aid in evaluating the effects of nation-specific elements (such as inflation, culture, legal systems and political considerations) on the usefulness of IC and decreasing FDR. Second, the current study focuses on the impact of IC and FDR on REM; this paper does not dissect the "black box" of IC and consider how each element affects earnings management. Future research may need to focus specifically on how effective IC would affect earnings management and precisely what IC mechanisms would discourage the management of earnings. Practical implications: Helping companies listed in China to make decisions and improve investors' vision of the results of real companies' businesses, as well as helping management to avoid falling into debt risk and the consequent effects and manipulation of earnings. Originality/value: By highlighting the significance of IC and debt risk in enhancing information quality in China, the results contribute to the body of work examining the relationship between IC, FDR and REM. In addition, this study uses a CEO's education to moderate this link. [ABSTRACT FROM AUTHOR]

With a sample of monthly data from January 2000 to July 2021, this paper investigates the risk connectedness relationship between different kinds of China's EPU and global oil prices in both time and frequency domains. To achieve that, a research framework mainly consists of wavelet transform method and spillover index approach is established. The results show that EPU of China receives the risk spillover from global oil prices in most cases. Moreover, we find fiscal policy uncertainty and trade policy uncertainty are generally the recipients of risk spillover on most time scales, except that monetary policy uncertainty primarily serves as the risk transmitter. Lastly, the risk role of exchange rate policy uncertainty in China has the most frequent change among four kinds of EPU. This paper provides valuable policy implications for policymakers, investors and risk managers in the energy market. [ABSTRACT FROM AUTHOR]

Announces a call for papers for EnerEnv'2003, the 1st International Conference on Energy and Environment, held in Changsha, China on October 11-14, 2003.

New energy vehicle (NEV) policies have greatly promoted the growth of the NEV industry in China, while also attracting a lot of investor attention. Using Chinese NEV concept stocks and related industrial policies, including purchase tax incentives (PTI) and promotion and application (P&A) policies, issued from 2011 to 2020 as the research setting, this paper adopts a panel data model to examine the impact of policy announcement on the volatility of NEV concept stocks, as well as the mediating role of investor attention in transmitting the impact. We find that NEV P&A policies have a significant and positive impact on NEV concept stock volatility, while PTI policies do not have a significant impact. Moreover, investor attention plays a partial mediating role in transmitting the impact of P&A policies on NEV stock market by increasing the stock volatility risk. Furthermore, there is heterogeneous effect of equity ownership in the relationship between policy announcement and investor attention on the volatility of NEV concept stocks; non-state-owned firms are more sensitive to the NEV P&A policies than state-owned firms. By analyzing the relationship between policy announcement and concept stock volatility, this paper enriches the research on NEV concept stocks and provides policy implications for the NEV industry. [ABSTRACT FROM AUTHOR]

With the continuous advancement of urbanization, the contradiction between urban development and environmental resources has become increasingly prominent, and environmental pollution has become increasingly serious. To fundamentally solve the problems of environment, energy, and low carbon, we must rely on the intelligence of energy. This paper aims to study the sustainable development of China's intelligent energy industry based on artificial intelligence and low‐carbon economy. In view of the problems existing in the optimization of power generation industry, this paper uses the annual load, electricity price, weather, and climate data of a southern power grid, uses the statistical variation particle swarm optimization algorithm, uses the historical runoff and rainfall data to optimize it, and studies the analysis methods, characteristics and laws of short‐term load, electricity price and runoff, as well as the uncertain factors affecting their changes. The experimental results show that the predicted price is close to the actual price, and the median error of each period is <1% in statistical analysis, so the forecast value can be used to replace the actual value for scheduling. This method makes full use of the adaptive mutation in the late stage of particle optimization, and introduces the mechanism of particle size selection, which fully ensures the diversity of particles and improves the search ability of particles. [ABSTRACT FROM AUTHOR]

China's carbon emission trading market has gradually attracted worldwide attention. In this paper, a structural VAR model and Shenzhen, a typical city in China, are selected to study the dynamic relationships between China's carbon emission rights price, energy prices, macroeconomic level, and weather conditions. Shanghai crude oil futures, the first crude oil futures contract in China, is used to describe changes in oil market as a substitute for Daqing crude oil price. The results show that the price of carbon emission rights is mainly affected by its own historical price; and the price of carbon emission rights is positively correlated with crude oil price and natural gas price, but negatively correlated with coal price; the change of macroeconomic level will still have a relatively large impact on carbon emission rights price in the current stage of economic development in China, but this impact is not significant; The impact of weather conditions on the price of carbon emission rights is not obvious. It is found that the launch of the national unified carbon market has indeed achieved certain results, but the situation that China's carbon market is still in its infancy has not been changed; further efforts are needed. [ABSTRACT FROM AUTHOR]

Hydrogen energy has an advantage over conventional fossil energy because of its clean and low-carbon features, while its stability gives it an advantage over renewable energy sources such as hydropower, photovoltaic (PV) power, and wind power. Using hydrogen as a fuel can achieve zero carbon emissions or even net zero emissions at the end of energy conversion. Moreover, with hydrogen as the carrier, an energy system of multi-energy complementarity will be established by coupling multiple energy systems such as power grids, gas grids and heat networks, which can realize the comprehensive utilization of renewable energy sources in an efficient, stable, and flexible manner. Based on the "dual carbon" goals, this paper targets sectors with high carbon emissions represented by electric power, steel and transportation, analyzes the feasible path of using hydrogen energy to promote deep carbon reduction, and points out the obstacles faced by hydrogen energy development in various sectors. On account of the current development and expected prospects, this paper proposes that the current focus of hydrogen energy industry is to coordinate the development of industrial sectors and regions, build a pattern that can facilitate the industry's systematic and concerted development, address key technical challenges (such as green hydrogen production or hydrogen storage and transportation via pipeline), improve industrial standards, and promote the industry's development in a balanced, coordinated and orderly way. [ABSTRACT FROM AUTHOR]

Expanding the supplies of new energy can not only reduce CO2 emissions, but also alleviate energy shortage. This paper applies the quantile regression to investigate the new energy industry in China. The results show that economic growth exerts the greatest effect on the new energy industry in the lower 10th quantile province. This is because these provinces have the developed economies, demand for a higher ecological environment and new energy resources. Foreign energy dependence has a minimal impact on the new energy industry in the 25th-50th quantile province, due to their minimal oil importation. The contribution of technological progress to the upper 90th quantile province is the lowest, because their R&D capabilities are the weakest. The impact of energy consumption structure decreases in steps from the lower 10th quantile provinces to the upper 90th quantile provinces. The agricultural sector promotes the new energy industry in most provinces. [ABSTRACT FROM AUTHOR]

In 2020, China pledged to peak its carbon emission before 2030 and achieve carbon neutrality before 2060. These ambitious carbon targets will inevitably boost the development of renewable energy generation, which has advantages from energy and water perspectives but disadvantages from land use perspective. Therefore, it is necessary to discuss the interaction among renewable energy development, water consumption as well as land use in the power sector, and determine a reasonable power-related land use range for the land administration in China. In this research, a series of multi-period, multi-regional power system optimization models with different objective functions and constraints are established to study the interrelationship among renewable energy development, water consumption, and land use in the coverage area of China Southern Power Grid from 2018 to 2030, and provide a reasonable land use range for the power sector in this region in 2030. Based on the above calculation results, the development of renewable energy promoted by energy and water policies will increase the land use of power sector under a cost objective function, and the minimum land area demand for this power system in 2030 considering energy and water policies is 24785.14 km2. What is more, according to the influence of land use constraint on the total cost of power sector from 2018 to 2030, this paper selected the increase ratio from 5 to 16% compared with the minimum land area demand as the reasonable land use range. [ABSTRACT FROM AUTHOR]

As an essential energy and chemical base in China, carbon reduction in the Energy "Golden Triangle" (EGT) area is significant. This paper used the logarithmic mean Divisia index (LMDI) method to analyze the drivers of carbon emissions from secondary industry energy consumption (CESEC) in EGT from 2005 to 2019 and then used the GM (1,1) method to simulate carbon emissions in 2030. Meanwhile, the decoupling relationship between carbon emissions and economic development was also analyzed using the two-dimensional decoupling model to test the effectiveness of carbon reduction by the region's government. This paper showed the following: (1) CESEC in the EGT area increased from 1.89×108t to 2.617×108 t; (2) the economic output effect is the main factor influencing carbon emissions in the EGT area, followed by population effect and energy structure effect, while energy intensity effect mitigates carbon emissions; and (3) CESEC will peak at 12.362×108t in 2030, leaving an arduous task on carbon reduction. The two-dimensional decoupling condition between carbon emissions and economic growth in the EGT area is low level-weak decoupling (WD-LE) for 2005–2019. The decoupling condition in Yulin and Ningdong is concentrated in low level-expansion connection (EC-LE) and low level-weak decoupling (WD-LE). Furthermore, Erdos reached high level-expansion negative decoupling (END-HE) condition during 2015–2019. Based on the above findings, a low-carbon development strategy for EGT should consider improving emission reduction technologies for high-carbon energy sources like coal, adjusting the energy consumption structure and seeking government policy support for carbon reduction. [ABSTRACT FROM AUTHOR]

Renewable energy is the fastest growing energy source. China, the world's biggest energy consumer, is also the largest investor in renewable energy. Although it is expected that oil will continue to dominate the energy mix in China and in the world by 2040, a transition towards a renewable model in the energy sector is unfolding, which has also been acknowledged by international oil companies (IOCs). Then, how the Chinese national oil companies (NOCs) approach such a transition becomes important – to what extent their investment transform and what are the pressures and influences behind the transformation. This paper investigates the positions and decisions taken by the Chinese NOCs, through comparing the similarities and differences between these NOCs and IOCs. A neo-Gramscian theoretical framework that considers environmental governance through dynamics at material, organisational, and discursive levels is used to examine the Chinese NOCs' energy transition. We find that the Chinese NOCs' energy transition is determined by: materially, economic profits; organisationally, the administrative environmental governance structure that copes with the market competition against IOCs and other state-owned companies; and discursively, the political concept of ecological civilisation. [ABSTRACT FROM AUTHOR]

In an attempt to uncover the international affiliations impacting the Chinese energy sector, this study applies the method of Curriculum Vitae Analysis (CV Analysis) to explore the overseas background of Chinese returnee energy scientists. The investigation focuses on a representative group of scientists hailing from China's distinguished "985" project research universities. From the available online CVs, we gathered data and identified the United States, Japan, and the United Kingdom as the primary host countries that facilitate the growth and learning of these energy scientists. We also noted a concurrent surge in scientists return to China after acquiring academic and professional experience in prestigious global universities. This study thereby illuminates the evolving patterns of Chinese energy scientists' global mobility and return migration. [ABSTRACT FROM AUTHOR]

In this study, we focus on the analysis of factors influencing the siting decision of coal emergency reserve centers. Specifically, we first draw on the quality function deployment theory in marketing to logically integrate the ideas of this study. On this basis, we adopted an interdisciplinary fuzzy decision-making method, namely the G1-entropy method, to quantitatively evaluate the research of this paper. Thereafter, we constructed a three-level index system based on the characteristics of the coal emergency reserve site selection, and used the G1-entropy value method to calculate the weights of the indicators in the coal emergency reserve center siting decision index system and obtain the results. Our research findings have found that the three key indicators of coal conventional reserve, emergency coal transportation methods, and emergency response time play a crucial role in the decision-making of coal emergency reserve center location. Therefore, we propose specific countermeasures and suggestions for these three key indicators. Our study can provide support for the government to better select the location of emergency coal reserves, better improve the national energy layout, and provide support for relevant decision makers on how to better reserve coal. The location of the emergency coal reserve center can better play the role of strategic reserve to stabilize the market function, effectively respond to the impact of various events on the energy market, and can make corresponding suggestions to the construction of the national energy security reserve system. [ABSTRACT FROM AUTHOR]

In the context of the joint operation of China's intra-provincial markets and inter-provincial trading, how to meet the load demand and energy consumption using inter-provincial renewable energy trading is a key problem. The combined operation of intra-provincial and inter-provincial markets provides a new way for provincial power companies to optimize and clear the intra-provincial power market, complete the intra-provincial consumption responsibility weight index, and consume renewable energy across provinces and regions. This paper combines power generation and consumption within the province, uses inter-provincial renewable energy trading to meet the load demand within the province and completes the index of intra-provincial consumption responsibility weights. The intra-provincial market trading and inter-provincial market clearing are respectively taken as the upper and lower levels of the model. Under the two-level electricity market operation framework, the upper-level model aims to minimize the expected total operating cost within the province considering the carbon emission cost and the weight of the consumption responsibility, while the lower-level model aims to minimize the inter-provincial renewable energy purchasing cost. Finally, the influence of inter-provincial transaction mechanism, risk aversion coefficient, voucher price, and responsibility weight on operating cost is analyzed. Simulation is used to verify that the proposed model can meet the requirements of the provincial load power consumption and the consumption responsibility weight index, and promote the consumption of renewable energy. [ABSTRACT FROM AUTHOR]

While there is a proliferation of studies on China's Belt and Road Initiative (BRI), there is a gap in the literature in terms of an exploration of the costs and benefits from the perspective of the energy sector, in both the areas of sectoral development and energy transition. This paper uses Australia as a case study. The paper is the first to quantify the impact of the BRI in the energy sector, and the analysis informs the current debates on the BRI in Australia. We find that energy cooperation under the BRI enhances the performance of energy companies, but the Chinese energy investment in Australia faces mounting challenges. We suggest some areas for cooperation and such cooperation could be extended to third countries. Amid the increasing trade and political tensions, the two countries need continued, level-headed discussions and debates about the potential cooperation areas at all levels. [ABSTRACT FROM AUTHOR]

The clean and low-carbon transition of China's power sector is of great importance to the achievement of dual carbon targets and the control of global warming. This paper first estimates the remaining carbon budget of the power sector under a 1.5 °C temperature control target and on this basis constructs 1.5 °C and 2 °C power transition scenarios, examining key boundary conditions such as economic development and changes in the cost of power generation technologies. Second, the Genetic Algorithm-Extreme Learning Machine (GA-ELM) model is used to forecast the electricity demand for the next forty years. Finally, with the objective of minimising the total planning cost, a pathway optimisation model of the power system is constructed to explore the optimal transition path for the power system using the dual carbon target, carbon budget and electricity demand as the main constraints. The results of the study show that the carbon budget of the Chinese power sector is approximately 7.1 × 1010 t CO2 for a 1.5 °C temperature control target. The electricity demand tends to saturate after 2050 and reaches 1.58 × 1013 kWh in 2060. The time of the carbon peak and carbon neutralisation in the power sector is 5 years ahead of the double carbon target. By 2060, the power system will be dominated by new energy sources, with the proportion of installed non-fossil energy capacity at over 90% and the proportion of non-fossil energy generation at over 85%. Compared to that under the 2 °C temperature control target, the power sector under the 1.5 °C temperature control target needs to accelerate the pace of the low-carbon transition of electricity and deal with key issues such as the orderly withdrawal of coal power, the construction of a diversified clean energy system and the application of carbon capture devices. This study recommends that the process of building a zero-emissions power sector requires a good pace of the construction of new power systems at a suitable pace, increased efforts to tackle key technologies and improved relevant market mechanisms. China's carbon–neutral pathway in the power sector also has implications for other countries' clean, low-carbon transitions of their power systems. [ABSTRACT FROM AUTHOR]

The focus of world governance on climate change has been on the industrial and transport sectors, yet the agricultural sector produces a lot of greenhouse gases, and this has always been ignored. This paper focuses on China, one of the world's largest agricultural countries, and it investigates its agriculture carbon emission from a new perspective of the internal structure of it, which is relatively under-researched. Carbon metrology, the emission factor method and kernel density estimations are used to analyze China's agricultural carbon emissions structure and its regional differences and its dynamic evolution characteristics. We find that: (1) China's total amount of agricultural carbon emissions showed a ladder-like upward trend, but the growth rate of it has gradually slowed down; the inter-provincial heterogeneity of the agricultural carbon emissions was obvious. (2) From the standpoint of the grain functional areas, the annual total amount of agricultural carbon emissions and the amount of carbon emissions of each carbon source in the major grain producing areas were significantly higher than those in the major grain sales areas and the production–sales balance areas, and the carbon emission intensity in the major grain producing areas was the lowest overall. (3) In regard to the internal structure, China's agricultural carbon emissions mainly came from the livestock and poultry, rice planting and agricultural energy sectors; the proportion of carbon emissions that were caused by the agricultural materials, agricultural energy and soil increased in general, and the inter-provincial differences between them expanded, while the inter-provincial differences between livestock and poultry gradually decreased. The proportion of carbon emissions from the six major agricultural carbon sources showed a convergence trend, and their kernel density had a right tail phenomenon. Our research deepens the understanding of China's agricultural carbon emission structure, contributes to the rational optimization of the agricultural structure, and helps the agriculture sector and the rural areas to reach the carbon peak. [ABSTRACT FROM AUTHOR]

Super oil and gas basins provide the energy foundation for social progress and human development. In the context of climate change and carbon peak and carbon neutrality goals, constructing an integrated energy and carbon neutrality system that balances energy production and carbon reduction becomes crucial for the transformation of such basins. Under the framework of a green and intelligent energy system primarily based on "four news", new energy, new electricity, new energy storage, and new intelligence, integrating a "super energy system" composed of a huge amount of underground resources of coal, oil, gas and heat highly overlapping with abundant wind and solar energy resources above ground, and a regional intelligent energy consumption system with coordinated development and utilization of fossil energy and new energy, with a carbon neutrality system centered around carbon cycling is essential. This paper aims to select the traditional oil and gas basins as "super energy basins" with the conditions to build world-class energy production and demonstration bases for carbon neutrality. The Ordos Basin has unique regional advantages, including abundant fossil fuel and new energy resources, as well as matching CO2 sources and sinks, position it as a carbon neutrality "super energy basin" which explores the path of transformation of traditional oil and gas basins. Under the integrated development concept and mode of "coal + oil + gas + new energy + carbon capture, utilization and storage (CCUS)/carbon capture and storage (CCS)", the carbon neutrality in super energy basin is basically achieved, which enhance energy supply and contribute to the carbon peak and carbon neutrality goals, establish a modern energy industry and promote regional green and sustainable development. The pioneering construction of the world-class carbon neutrality "super energy system" demonstration basin in China represented by the Ordos Basin will reshape the new concept and new mode of exploration and development of super energy basins, which is of great significance to the global energy revolution under carbon neutrality. [ABSTRACT FROM AUTHOR]

The extant research provides inconsistent results regarding the effect of outward foreign direct investment (OFDI) on firm productivity. There is no research on the effect of OFDI in belt and road (B&R) countries on Chinese firm productivity. In this paper, the impact of B&R OFDI on Chinese firm productivity and its influencing mechanisms are investigated. The main findings of this research are as follows. First, B&R OFDI positively influences productivity by alleviating firms' financial constraints. Second, the presence of market‐driven and production‐driven subsidiaries in B&R countries exerts a favorable moderating impact on firm productivity. Finally, the productive influence of B&R OFDI is more pronounced for firms in eastern China and for those in the energy and transportation sectors, and it is particularly significant for nonstate‐owned enterprises. These findings have practical implications for governments engaged in the design of effective policies for the promotion of B&R OFDIs and for firms developing robust OFDI strategies along the Belt and Road to improve their levels of productivity. [ABSTRACT FROM AUTHOR]