The policy mix of green finance in China: an evolutionary and multilevel perspective

Against the background of climate change, green finance has received worldwide attention in recent years, as policymakers bring the ‘green’ idea into financial sectors and encourage investments in green projects. From an evolutionary and multilevel perspective, this study conducts a comprehensive review of the policy mix of green finance in China. Our analysis emphasizes the dimensions of time and scale of a policy mix that are important elements to understanding the evolution process. We identify a transition process in green finance policies in China with changes in both policy objectives and policy instruments. China has gradually shifted its policy focus from direct public intervention and investment to the construction of a green finance market. From the multilevel perspective, the dynamic vertical interactions between different levels of government have played an important role in this transition. Key policy insightsTime and scale are important dimensions of a green finance policy mix, as policy strategies and instruments evolve over time; policies are also designed and implemented at different scales – with direction, learning and guidance from national to local (provincial) and eventually, with time, vice versa.China’s green finance policy mix is undergoing a transitional process, characterized by a shift from direct public intervention and investment to the construction of a green finance market. This involves placing greater emphasis on attracting private investment and financing, and moving away from top-down intervention towards a market-based, polycentric approach with greater engagement and interaction with the private sector.The dynamic vertical interactions between different levels of government have played an important role in the transition toward a more market-based approach. For instance, we find that local experimentation of green finance policies explores different development models for the local financial system against diverse local contexts, and these have, in turn, both influenced policy design of the central government and in some instances diffused to other jurisdictions. Time and scale are important dimensions of a green finance policy mix, as policy strategies and instruments evolve over time; policies are also designed and implemented at different scales – with direction, learning and guidance from national to local (provincial) and eventually, with time, vice versa. China’s green finance policy mix is undergoing a transitional process, characterized by a shift from direct public intervention and investment to the construction of a green finance market. This involves placing greater emphasis on attracting private investment and financing, and moving away from top-down intervention towards a market-based, polycentric approach with greater engagement and interaction with the private sector. The dynamic vertical interactions between different levels of government have played an important role in the transition toward a more market-based approach. For instance, we find that local experimentation of green finance policies explores different development models for the local financial system against diverse local contexts, and these have, in turn, both influenced policy design of the central government and in some instances diffused to other jurisdictions.</p

pH-Sensitive Dextran-Based Micelles from Copper-Free Click Reaction for Antitumor Drug Delivery

There remains a need to develop new strategies to fabricate dextran-based biocompatible drug delivery systems for safe and effective chemotherapy. Herein, a copper-free azide-propiolate ester click reaction was introduced for dextran modification to fabricate a pH-sensitive dextran-based drug delivery system. A pH-sensitive dextran-based micelle system, self-assembled from amphiphilic dextran-graft-poly­(2-(diisopropylamino)­ethyl methacrylate-co-2-(2′,3′,5′-triiodobenzoyl)­ethyl methacrylate) or dextran-g-P­(DPA-co-TIBMA), is reported for effective chemotherapy. The amphiphilic dextran-g-P­(DPA-co-TIBMA) was prepared via reversible addition–fragmentation chain-transfer (RAFT) polymerization and copper-free azide-propiolate ester click reaction. Doxorubicin (DOX)-loaded dextran-g-P­(DPA-co-TIBMA) micelles were prepared through self-assembly of DOX and dextran-g-P­(DPA-co-TIBMA) in aqueous solution, and had a mean diameter of 154 nm and a drug loading content of 9.7 wt %. The release of DOX from DOX-loaded dextran-g-P­(PDPA-co-TIBMA) micelles was slow at pH 7.4, but was greatly accelerated under acidic conditions (pH 6 and 5). Confocal laser scanning microscopy and flow cytometry experiments showed that the dextran-g-P­(DPA-co-TIBMA) micelles could effectively deliver and release DOX in human breast cancer cell line (MCF-7 cells). MTT assay showed that dextran-g-P­(DPA-co-TIBMA) exhibited excellent biocompatibility while DOX-loaded dextran-g-P­(DPA-co-TIBMA) micelles have good antitumor efficacy in vitro. The in vivo therapeutic studies indicated that the DOX-loaded dextran-g-P­(PDPA-co-TIBMA) micelles could effectively reduce the growth of tumor with little body weight reduction

Activation of reward circuit in the contrast of popular and artistic music.

(A) Popular music evoked larger BOLD response in the right putamen (26, 6,2) than artistic music; (B) Artistic music evoked larger BOLD response in the right rACC than popular music (BA24/32, 12,36,0). (C) Mean beta values and SD of the ROI analysis in putamen and right rACC for popular music and artistic music comparing control condition, respectively. Within every single ROI, beta values of both popular music and artistic music conditions were first subtracted by the mean beta value of control condition in the same ROI, before two sample t-test.</p

The Difference between Aesthetic Appreciation of Artistic and Popular Music: Evidence from an fMRI Study

<div><p>To test the hypothesis that pleasure from artistic music is intellectual while that from popular music is physiological, this study investigated the different functional mechanisms between aesthetic appreciation of artistic and popular music using fMRI. 18 male non-musicians were scanned while they performed an aesthetic rating task for excerpts of artistic music, popular music and musical notes playing and singing (control). The rating scores of artistic and popular music excerpts were both significantly higher than that of control materials while the scores of them were not different. The fMRI results showed both artistic and popular conditions activated the VS and vmPFC, compared with control condition. When contrasted popular and artistic condition directly, we found popular music activated right putamen, while artistic music activated right mPFC. By parametric analysis, we found the activation of right putamen tracked the aesthetic ratings of popular music, whereas the BOLD signal in right mPFC tracked the aesthetic ratings of artistic music. These results indicate the reward induced by popular music is closer to a primary reward while that induced by artistic music is closer to a secondary reward. We also found artistic music activated ToM areas, including PCC/PC, arMFC and TPJ, when compared with popular music. And these areas also tracked aesthetic ratings of artistic music but not those of popular music. These results imply that the pleasure from former comes from cognitive empathy. In conclusion, this study gives clear neuronal evidences supporting the view that artistic music is of intelligence and social cognition involved while the popular music is of physiology.</p></div

Influences of Relative Humidity and Dwell Time on Silica/Graphene Adhesion Force of a Cone–Plane Contact

Graphene has exceptional electronic, mechanical, and thermal properties, and it is expected to have important applications in integrated circuits and other microelectronic fields. Its performances are greatly affected by surface adhesion force when it is used in a humid environment. In this paper, based on the law of variable water contact angle changing in the process of water vapor condensation, we established a cone–plane contact model, which is related to relative humidity and dwell time, to reveal the internal mechanism of the influence of relative humidity and dwell time on silica/graphene adhesion force. First, the silica/graphene adhesion force dependence of dwell time was measured by atomic force microscopy (AFM) at 45–85% RH. Then, the changing process of the meniscus between the AFM tip and the graphene surface was discussed, and the function of adhesion force with variables of dwell time and contact angle was established. Furthermore, the theoretical and experimental results were compared and analyzed. The results show that with the increase of relative humidity and dwell time, the capillary condensation increases, but the water contact angle of the cone material decreases. This causes the adhesion force to increase first and then decrease after it reaches a threshold value. Furthermore, the variable water contact angle of the graphene surface increases, but the adhesion force decreases gradually with the increase of surface water film. The theoretical results are in good agreement with the experimental results

Time Dependence of the Graphene Surface Adhesion Force of the Sphere–Plane Contact at Different Relative Humidities

Graphene has a promising application prospect in integrated circuits and microelectromechanical systems, and sphere–plane contacts are their common contact types. At present, it is difficult to explain the time dependence of the adhesion force of the sphere–plane contact by conventional theory. Therefore, a single rough peak of sphere–plane contact adhesion force model based on variable water contact angle theory and Bradley contact theory was established; the aim is to reveal the changing law of graphene adhesion force. Then, the time dependence of the graphene surface adhesion force at different humidity levels was investigated by using an atomic force microscopy spherical probe. Finally, a quantitative comparative analysis of the theory and experiment was performed. The results show that the theoretical adhesion force was in good agreement with the experimental measurement results. The time dependence of graphene surface adhesion was not obvious within a relative humidity of 45–55%. When the relative humidity was greater than 65%, the graphene surface adhesion first increased and then decreased with dwell time and finally tended to be stable. Because of the increase in relative humidity, the capillary condensation effect increases, and then the adhesion force increases with the development of the meniscus. When the water film was generated on the sample surface, the adhesion force decreased until the meniscus achieved equilibrium

Brain activation of popular and artistic music vs. control material.

<p>Larger activity in bilateral mOFC and bilateral ventral striatum were found for popular(A) and artistic(B) music than for control material.</p

Cognitive empathy regions were activated in the contrast of artistic vs. popular music.

<p>(A) The regions consisted of left arMFC, left PC/PCC, left angular gyrus, left hippocampus /parahippocampus, and left and right inferior temporal gyrus. (B) Mean beta values and SD of the ROI analysis in left arMFC (-6,36,20), left PC/PCC (-4,-42,46), left angular gyrus (-32,-80,32) and left hippocampus (-28,-22,-14) for popular music and artistic music comparing control condition, respectively. Within every single ROI, beta values of both popular music and artistic music conditions were first subtracted by the mean beta value of control condition in the same ROI, before two sample t-test.</p

Regions showing a main effect at <i>p</i><0.05 with FDR correction at the cluster level for contrasts Popular music > Notes Clip and Artistic music>Notes Clip.

<p>Regions showing a main effect at <i>p</i><0.05 with FDR correction at the cluster level for contrasts Popular music > Notes Clip and Artistic music>Notes Clip.</p

Regions tracking increasing aesthetic ratings of popular music and artistic music.

<p>Regions tracking increasing aesthetic ratings of popular music and artistic music.</p