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This study aims to propose a set of institutional frameworks, as well as practical polices and steps, with a view to facilitating the establishment of a unified carbon trading market in China.

Based on existing empirical studies and reviews of the socioeconomic contexts, this study followed a qualitative approach consisting of secondary data collection and analysis, semi-structured interviews to collect primary data and comparative analysis.

The establishment of a national carbon trading market in China is a systemic and complex process which requires coordination among various concerned government agencies and supporting mechanisms. Currently, the development of a unified national carbon market has been impeded by the lack of coordination among local pilot programs, and there is no specific law passed by the People’s Congress or by its Standing Committee to regulate the emerging carbon trading market. It is of vital importance for China, in terms of both practical and strategic aspects, to take a gradualist approach in establishing laws and institutions to guide and support the development of its emerging carbon market.

This present study forms a part of a regional research project aiming to identify sound policy approaches for the establishment of a carbon trading market in China. Due to scope reasons, it focuses only on policy analysis and recommendations.

China’s emerging national carbon trading market has attracted much research attention. However, little has been done from the perspectives of legislations and policies.

Exploring the intrinsic connection between the ecological environment and the digital economy and empirically testing how the level of digital economic development affects the ecological environment. Using the entropy weighting method to analyze the weights of the indicators in the digital economic development level and ecological environment system to explore the factors that have the greatest impact on the ecological environment in the indicator system of the digital economic development level so as to deepen the theoretical understanding of the relationship between the level of development of the digital economy and the ecological environment. Explore the regional heterogeneity of the level of development of the digital economy to promote the healthy development of China’s ecological environment proving the difference in the level of development of the digital economy in the east west and central regions of China and the difference in the effect on the ecological environment.

Based on the panel data of 30 provinces in China from 2013 to 2021 this paper fits the index system of digital economy development level with three factors. A digital infrastructure digital industry and digital application combines environmental pollution and energy consumption to construct ecological environment indicators and explored the impact of digital economy development level on the ecological environment by using the entropy weight method and the random effect model.

The findings indicate that the degree of digital economic development has a positive and significant impact on promoting the healthy development of the ecological environment, in which the digital industry has the greatest impact on the ecological environment. Meanwhile, the improvement of industrial structure also has a positive effect on the improvement of the ecological environment, whereas the level of human capital inhibits the healthy development of the ecological environment, and the governmental support fails to effectively and significantly promote the improvement of the ecological environment. Furthermore, the empirical research indicates that the level of digital economy development has obvious regional heterogeneity on the healthy development of the ecological environment: the eastern and central regions have a significant effect, while the western region has a less significant effect.

Although domestic and foreign scholars and experts have conducted sufficient studies on the ecological environment and the development level of digital economy respectively, there are few studies on the empirical analysis of the positive significance and regional heterogeneity of the impact of the development level of digital economy on the ecological environment, which can be supplemented and referred to in this study. At the same time, it also provides intellectual support for our country to achieve high-quality development of digital economy and efficient governance of ecological environment.

The purpose of this paper is to summarize the status and characteristics of rail technology of high-speed railway in China, and point out the development direction of rail technology of high-speed railway.

This study reviews the evolution of high-speed rail standards in China, comparing their chemical composition, mechanical attributes and geometric specifications with EN standards. It delves into the status of rail production technology, shifts in key performance indicators and the quality characteristics of rails. The analysis further examines the interplay between wheels and rails, the implementation of grinding technology and the techniques for inspecting rail service conditions. It encapsulates the salient features of rail operation and maintenance within the high-speed railway ecosystem. The paper concludes with an insightful prognosis of high-speed railway technology development in China.

The rail standards of high-speed railway in China are scientific and advanced, highly operational and in line with international standards. The quality and performance of rail in China have reached the world’s advanced level. The 60N profile guarantees the operation quality of wheel–rail interaction effectively. The rail grinding technology system scientifically guarantees the long-term good service performance of the rail. The rail service state detection technology is scientific and efficient. The rail technology will take “more intelligent” and “higher speed” as the development direction to meet the future needs of high-speed railway in China.

The development direction of rail technology for high-speed railway in China is defined, which will promote the continuous innovation and breakthrough of rail technology.

A multi-load available, response reliable and product-friendly method is in urgent need to diagnose the signs of incipient arcing. This paper aims to propose a novel algorithm that originates the application of correlativity analysis of wavelet high-frequency component in state discrimination and further in arcing detection.

The proposed method calculates the correlation coefficient between the extraction by wavelet transform of arcing series current and that of normal, compares it with a predefined threshold and outputs a trip signal when eight qualified arcing half cycles within a period of 0.5 s are detected.

Typical appliances are selected in laboratory for arc detection to test the method which carries on independently of impedance type. The algorithm could be optimized to identify arcing for different kinds of loads, including resistive, inductive, capacitive and switching power supply loads, with a same correlation coefficient threshold.

The arithmetic operations of the method are addition and multiplication, which contribute to efficient data computation and transmission for micro-processor to undertake. The reference optimal sampling rate recommended for the algorithm helps to reduce the processed data volume and shows its promising prospect for portable product development.

This proposed correlativity analysis of wavelet transform component algorithm could classify the tested signal into two categories, which benefits the discrimination of normal and fault states in condition monitoring. Laboratory tests prove that it works effectively in arc detection for the commonly used impedance types of loads and needs no offline self-learning or training of samples.

The purpose of this paper is to investigate the knock combustion characteristics, including the combustion pressure, heat release rate (HRR) and knock intensity of aviation kerosene fuel, that is, Rocket Propellant 3 (RP-3), on a port-injected two-stoke spark ignition (SI) engine.

Experimental investigation using a bench test and the statistical analysis of data to reflect the knock combustion characteristics of the two-stroke SI unmanned aerial vehicle (UAV) engine on RP-3 kerosene fuel.

Under the full load condition of 4,000 rpm, at the ignition timing of 25 degree of crank angle (°CA) before top dead centre (BTDC), the knock combustion is sensitive to the thinner mixture; therefore, the knock begins to occur when the excess air ratio is larger than 1.0. When the excess air ratio is set as 1.2, the knock obviously appears with the highest knock intensity. At the excess air ratio of 1.2, better engine performance is obtained at the ignition timing range of 20-30 °CA BTDC. However, the ignition timing at 30° CA BTDC significantly increases the peak combustion pressure and knock intensity with the advancing heat release process.

Gasoline has a low flash point, a high-saturated vapour pressure and relatively high volatility, and it is a potential hazard near a naked flame at room temperature, which can create significant security risks for its storage, transport and use. The authors adopt a low-volatility single RP-3 kerosene fuel for all vehicles and equipment to minimise the number of different devices using various fuels and improve the military application safety.

Most two-stroke SI UAV engines for military applications burn gasoline. A kerosene-based fuel for stable engine operation can be achieved because the knock combustion can be effectively suppressed through the combined adjustment of the fuel amount and spark timing.

This study aims to investigate the influence of CEO’s only-child status on corporate social responsibility (CSR) practices. It seeks to extend the understanding of upper echelon theory by examining unexplored CEO characteristics and their impact on CSR decisions.

The paper uses manually collected CEO family information and Chinese Stock and Market Accounting Research data as a basis to examine the influence of CEOs’ early-life experiences on their engagement in CSR activities. The study applies attachment security theory from developmental psychology and uses upper echelon theory, particularly focusing on CEOs’ only-child status. A comparative analysis of philanthropic donations between CEOs who are only children and those who have siblings is conducted. The study also examines the moderating effects of corporate slack resources and CEO shareholdings.

Preliminary findings suggest that CEOs who are only children are more likely to engage in CSR compared to their counterparts with siblings. However, the difference in donation amounts between the two groups tends to attenuate with decreased slack resources and increased CEO shareholdings.

To the best of the authors’ knowledge, this research represents the first attempt to investigate being the only child in one’s family and the CSR-related decision of CEOs, which extends the upper echelon theory by introducing the family science theory into the management domain.

The online direct selling mode has been widely accepted by enterprises in the O2O era. However, the dual-channel (online/offline, forward/backward) operations of the closed-loop supply chain (CLSC) changed the relationship between manufacturers and retailers, thus resulting in channel conflict. The purpose of this paper is to take a dual-channel operations of CLSC as the research target, where a manufacturer sells a single product through a direct e-channel as well as a conventional retail channel; the retailer are responsible for collecting used products in the reverse supply chain and the manufacturer are responsible for remanufacturing.

The authors build a benchmark model of dual-channel price and service competition and take the return rate, which is considered to be related to the service level of the retailer, as the function of the service level to extend the model in the reverse SC. The authors then analyze the optimal pricing and service decision under centralization and decentralization, respectively. Finally, with the revenue-sharing factor, wholesale price and recycling price transfer payment coefficient as contract parameters, the paper also designs a revenue-sharing contract led by the manufacturer and explores in what situation the contract could realize the Pareto optimization of all players.

In the baseline model, the results show that optimal price and service level correlate positively in centralization; however, the relation relies on consumers’ price sensitivity in decentralization. In the extension model, the relationship between price and service level also relies on the relative value of increased service cost and remanufacturing saved cost. When the return rate correlates with the service level, a recycling transfer payment can elevate the service level and thus raise the return rate. Through analyzing the parameters in revenue-sharing contract, a point can be reached where lowering the wholesale price and raising the transfer payment coefficient will promote retailers to share revenue.

Many enterprises establish the dual-channel distribution system both online and offline, which need to understand how to resolve their channel conflict. The conflict is especially strong in CLSC with remanufacturing. The result helps the node enterprises realize the coordination of the dual-channel CLSC.

It takes into account the fact that there are two complementary relationships, such as online selling and offline delivery; used product recycling and remanufacturing. The authors optimize the strategy of product pricing and service level in order to solve channel conflict and double marginalization in the closed-loop dual-channel distribution network.

The purpose of this paper is to compare the combustion characteristics, including the combustion pressure, heat release rate (HRR), coefficient of variation (COV) of indicated mean effective pressure (IMEP), flame development period and combustion duration, of aviation kerosene fuel, namely, rocket propellant 3 (RP-3), and gasoline on a two-stoke spark ignition engine.

This paper is an experimental investigation using a bench test to reflect the combustion performance of two-stroke spark ignition unmanned aerial vehicle (UAV) engine on gasoline and RP-3 fuel.

Under low load conditions, the combustion performance and HRR of burning RP-3 fuel were shown to be worse than those of gasoline. Under high load conditions, the average IMEP and the COV of IMEP of burning RP-3 fuel were close to those of gasoline. The difference in the flame development period between gasoline and RP-3 fuel was similar.

Gasoline fuel has a low flash point, high-saturated vapour pressure and relatively high volatility and is a potential hazard near a naked flame at room temperature, which can create significant security risks for its storage, transport and use. Adopting a low volatility single RP-3 fuel of covering all vehicles and equipment to minimize the number of different devices with the use of a various fuels and improve the application safeties.

Most two-stroke spark ignition UAV engines continue to combust gasoline. A kerosene-based fuel operation can be applied to achieve a single-fuel policy.

The purpose of this paper is to empirically analyze the role of differentiated margin system in leading investors' investing behavior and then optimize investor structure in futures markets.

Using economic experimental research method, this paper designs and conducts a futures market experiment according to experimental research's basic norms, thus acquiring needed and credible empirical data.

By analyzing the experimental data, it is found that compared with situations in futures markets that implement uniform margin system, investors' (especially speculators') futures open position and the ratio of their open position and futures turnover are both significantly higher, in futures markets that implement differentiated margin system. On the other hand, differentiated margin system has no effects on hedgers' futures turnover, but significantly reduces speculators' futures turnover.

The findings suggest that compared with uniform margin system, differentiated margin system is beneficial to effectively restrict both speculators' and hedgers' speculating behavior and lead hedgers' market participation.

In order to resolve the problem of unreasonable investor structure in China's futures market, i.e. lack of hedgers and over‐speculating, China's futures market's regulators should reform the margin system and adopt differentiated margin system to lead investors' rational behavior and optimize investor structure.

This paper empirically analyzes and verifies, for the first time, the roles of differentiated margin system in affecting investors' investing behavior. The futures market experiment designed and used in this study is a pioneering and exploratory experiment.

The purpose of this paper is to investigate whether the change of margin in Chinese futures markets has policy spillover effects.

The paper constructs a model based on Harzmark and on Chng, taking Chinese futures markets status quo as a single species and restrictions on foreign investment into consideration, introduces the assumptions of spillover effect of speculators, then obtains investor's demand function. Subsequently, the effects of Shanghai Futures Exchange's 11 instances of margin changing are analyzed.

The paper finds that in the Chinese futures market, margin changing has impact on the open interest (OI) and the speculator spillover effect is validated.

The irrational behavior of investors in markets is not taken into account in the model and data about spillover speculators were not directly available.

The paper usefully analyzes the effects of the Shanghai Futures Exchange's 11 instances of margin changing from 2000 to 2007 and examines the actual effects of margin‐changing policy, in the views of OI, trading volume and the externality, the results showing that margin changing has impact on investor structure and validates the existence of the assumed speculator spillover effect.