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By using a dynamic panel data model, this study investigated how the production of thermal power affects China's regional pilot carbon markets with a focus on carbon price, trading volume, realized volatility, and market liquidity. Our results suggest that the production of thermal power has slightly increased the trading volume, but has not affected carbon prices based on the existence of excessive CO 2 allowances. Moreover, thermal power production has increased realized volatility in the pilot markets. However, this impact was reduced following the announcement of the National Emission Trading System (ETS). This demonstrates that thermal power companies in pilot carbon markets tend to trade carbon credit more actively in response to policies favouring further market liberalization, rather than passively following government instructions. Furthermore, we find that realized volatility and liquidity increased in the Hubei and Shanghai pilots following the announcement. This demonstrates that the announcement of the National ETS improved the market activity and efficiency, and pricing capacity of its host pilot markets. However, this improvement could only be observed in the short term. Therefore, the government should reallocate CO 2 allowances to match its emission reduction targets and incentivize industries with high carbon intensity to participate in carbon trading. [ABSTRACT FROM AUTHOR]

High Cr (VI) concentration is a potential serious risk to environment and ecologic system. Thus, it is essential to effectively monitor Cr contamination in water systems and scientifically evaluate its evolution trend. A new method of in-situ tracer technique by Cr isotopic analysis for quantitatively estimating Cr-contamination and its regional evolution in natural waters as well as a case application are reported in this paper. Based on documented literatures, an experimental procedure for chemical separation and purification of Cr in water samples and its analytical method for Cr isotopic measurement by thermal ionization mass spectrometry (TIMS) are established. Eleven samples collected around a chemical factory in Hubei Province were analyzed by this technique. These samples show δ53Cr values ranging from -1.7‰ to 7.3‰ and an elevating trend with an increasing in distance from the sampling site to pollution source. A functional correlation following Rayleigh fractionation law was established between sample's δ53Cr value and its extent of Cr contamination. This study suggests that Cr isotopic analysis is an effective method to reveal the spatial distribution and its evolution trend of Cr contamination in the regional water system. It is thus helpful to assessing the self-purifying ability of local water system according to Cr isotopic fractionation. [ABSTRACT FROM AUTHOR]