The Bank Capital Regulation and Monetary Policy

Bank capital regulation under Basel Accord has changed the allocation of credit funds and the operation rule of the economy in great degree, and subsequently affected the foundation condition and transmission mechanism of the monetary policies. Given the business cycle, this paper makes the extended analysis of the IS-LM model under capital regulation, and finds that capital regulation will induce the asymmetric effects of monetary policy through the bank lending channel, so theoretically demonstrates that the operation of monetary policy must consider the bank capital regulation. This paper also employs Stochastic Frontiers Analysis to test the joint effectiveness of monetary policy and Bank capital regulation in china from 2000-2009. This test shows that the effectiveness of the monetary policy on realizing economic objective would be weakened by bank capital regulation in China. Therefore, to achieve the objectives of stable price and output, the authority must consider the capital requirement of the banks when enacting the monetary policy,.Key words: Bank capital regulation; Monetary policy; Joint effectivenes

Effects of different wheat bran fermentation sources on growth performance, nutrient digestibility, serum antioxidant capacity and fecal microbiota in growing pigs

The present study aimed to evaluate the application of different wheat bran fermentation sources in growing pigs. A total of 320 pigs (43 ± 0.21 kg), were randomly allocated to 5 groups in a 21-d trial. The control group was fed a basal diet (CON) containing raw wheat bran, and the other four treatments were fed the diets in which the raw wheat bran in the basal diet was substituted with Aspergillus niger (WBA), Bacillus licheniformis (WBB), Candida utilis (WBC), and Lactobacillus plantarum (WBL) fermented wheat bran, respectively. The results showed that compared to the CON group, the crude fiber and pH values were decreased (p < 0.05), while the gross energy (GE), crude protein (CP), and lactic acid values were increased (p < 0.05) in all the wheat bran fermented by different strains. Compared with other treatments, feeding B. licheniformis fermented wheat bran had higher final weight, average daily gain, as well as lower feed-to-gain ratio. Compared with CON group, pigs fed with fermented wheat bran diets had higher dry matter, CP, and GE availability, serum total protein, albumin and superoxide dismutase levels, and fecal Lactobacillus counts, as well as lower malondialdehyde level and fecal Escherichia coli count. Collectively, our findings suggested that feeding fermented wheat bran, especially B. licheniformis fermented wheat bran, showed beneficial effects on the growth performance, nutrient digestibility, serum antioxidant capacity, and the gut microbiota structure of growing pigs

Efficacy and safety of pembrolizumab versus sintilimab treatment in patients with advanced squamous lung cancer: A real-world study in China

ImportanceBoth pembrolizumab and sintilimab have been approved by the Chinese State Drug Administration (NMPA) for the first-line treatment of patients with advanced squamous lung cancer. The differences of the two drugs in efficacy and safety are unclear.ObjectivesTo compare the real-world efficacy and safety of first-line treatments in patients with advanced squamous lung cancer.Materials and methodsThis was a retrospective review of patients with advanced squamous carcinoma who received sintilimab or pembrolizumab in combination with chemotherapy as first-line therapy between June 2018 and April 2022 in the Chinese PLA Hospital. The primary objective was to compare the objective response rate (ORR), progression-free survival (PFS), and overall survival (OS) between the two groups. Secondary objectives were to compare the disease control rate (DCR) and to analyze adverse events (AEs) between the two groups.ResultsA total of 164 patients were enrolled, including 63 patients (38.4%) in the sintilimab-combined chemotherapy group and 101 patients (61.6%) in the pembrolizumab-combined chemotherapy group. The ORR was 65.10% in the sintilimab group and 61.40% in the pembrolizumab group (P=0.634). The DCR was 92.10% and 92.10% in the sintilimab and pembrolizumab groups, respectively (P=0.991). The median PFS was 22.2 months for patients treated with sintilimab group compared with 16.5 months for patients treated with pembrolizumab group[hazard ratio (HR) = 0.743; 95% confidence interval (CI): 0.479-1.152; P = 0.599]. Patients treated with pembrolizumab did not achieve a median OS, and patients treated with sintilimab had a median OS of 30.7 months. In the sintilimab group, the incidence of all treatment-related adverse events (TRAEs) was 92.1% (58/63), and the incidence of grade 3-4 TRAEs of 42.9% (27/63). In the pembrolizumab group, the incidence of all TRAEs was 90.1% (91/101), and the incidence of grade 3-4 TRAEs was 37.6% (38/101).ConclusionIn the clinical treatment of Chinese patients with advanced squamous lung cancer, first-line treatment with sintilimab in combination with chemotherapy provided similar efficacy to pembrolizumab in combination with chemotherapy, and the treatment-related adverse effect profiles were comparable between the two groups, including similar rates of grade 3-4 and all adverse events

The Flotation of Kyanite and Sillimanite with Sodium Oleate as the Collector

Kyanite and sillimanite are two polymorphic minerals with the same formula of Al2SiO5, but different crystal structures. Despite their high economic values, selectively recovering them by flotation is a challenge. In this study, the flotation behaviors of the two minerals with sodium oleate as the collector were examined at different pH conditions. Zeta potential measurement, infrared spectroscopic measurement, chemical speciation and X-ray photoelectron spectroscopy measurement were conducted to identify the underpinning mechanisms. It is found that the flotation behavior of both minerals is different under the same flotation condition. The flotation recovery of sillimanite is much higher than that of kyanite in the presence of the collector sodium oleate. Sodium oleate adsorbs onto the surfaces of kyanite and sillimanite mainly through the chemical interaction of the ionic–molecular dimers with aluminum atoms at pH 8.0. The higher sillimanite flotation recovery between the two minerals is related to the higher electrostatic charge densities of the aluminum atoms in six-fold coordination, which leads to the higher collector adsorption

The separation of kyanite from quartz by flotation at acidic pH

An effective separation of kyanite from quartz by flotation is a challenge due to their similar surface properties and surface activation by metal ions. This study investigated the effect of pH, Fe and sodium silicate on the separation of kyanite from quartz using anionic collector, sodium petroleum sulfonate (SPS). Zeta potential measurement, infrared spectroscopic analysis and chemical speciation were conducted to identify the underpinning mechanisms. It was found that a good separation of kyanite from quartz was achieved at pH = 4.0 due to the selective adsorption of SPS on kyanite. However, the presence of Fe altered the electrical property on quartz which became attractive to SPS, enhanced quartz flotation and hence exacerbated the separation of kyanite from quartz. It is interesting that sodium silicate selectively depressed the flotation of iron-activated quartz by covering the activation sites and prohibiting collector adsorption. Although sodium silicate also interacted with kyanite, SPS still adsorbed on kyanite through reacting with Al atoms and therefore the depression of kyanite flotation by sodium silicate in the presence of Fe was limited

Preparation of 5-(Hydroxymethyl)furfural by the Catalytic Degradation of Cellulose in an Ionic Liquid/Organic Biphasic System

This work has established the optimum reaction conditions in a biphasic system using microcrystalline cellulose as the raw material, an ionic liquid as the solvent, metal chloride as a catalyst, and an organic solvent as the extraction reagent. The optimum reaction conditions were microcrystalline cellulose:ionic liquid - 1:10 (mass ratio), chromium(III) chloride (CrCl3) - 6.8 mol% (based on the glucose unit of cellulose molecule), reaction time - 3 h, temperature - 130 °C, and mass ratio of 1-butyl-3-methyl-imidazolium chloride ([BMIM]Cl) to methylbenzene - 1:4.4]. Under these conditions, the yields of glucose and 5-(hydroxymethyl)furfural (5-HMF) were 27% and 55%, respectively. The solvent [BMIM]Cl could be reused twice. The first recovery rate of [BMIM]Cl was approximately 70.9%. The product 5-HMF was obtained in 64.7% yield, which decreased after the first [BMIM]Cl recycling. The second recovery rate of [BMIM]Cl was 45%. The yield of 5-HMF was 39.6%, which decreased after the second recycling of [BMIM]Cl. In this paper, the energy consumption, operation, reutilization of [BMIM]Cl, and product yields of a one-phase system and a biphasic system were compared. Experimental results demonstrated that the biphasic solvent system was suitable for the degradation of cellulose to glucose and 5-HMF

Kinetic Study of the Decomposition of Cellulose to 5-Hydroxymethylfurfural in Ionic Liquid

The kinetics of cellulose decomposition in ionic liquid was investigated using microcrystalline cellulose as a raw material. Curve fitting of cellulose degradation kinetic data was carried out by MATLAB. Experimental results demonstrated that the cellulose decomposition rate constant, k1, was less than the constant for glucose decomposition to 5-hydroxymethylfurfural (5-HMF), k2, in the ionic liquid system, gaining a larger gap with increasing temperature. Results indicated that cellulose degradation is a slow reaction compared with glucose decomposition, which controls the speed of the overall reaction steps. CrCl3 increased the rate constant of cellulose and glucose degradation to almost the same degree, thus achieving simultaneous conversion of cellulose, glucose, and 5-HMF. Compared with other reaction systems, the ionic liquid system considerably reduced activation energy. Regression analysis of kinetic data indicated that the catalytic decomposition reactions of cellulose, glucose, and 5-HMF are all first-order reactions