Relationships among Energy Price Shocks, Stock Market, and the Macroeconomy: Evidence from China

This paper investigates the interactive relationships among China energy price shocks, stock market, and themacroeconomy using multivariate vector autoregression.The results indicate that there is a long cointegration among them. A 1% rise in the energy price index can depress the stock market index by 0.54% and the industrial value-adding growth by 0.037%. Energy price shocks also cause inflation and have a 5-month lag effect on stock market, which may result in the stock market “underreacting.” The energy price can explain stock market fluctuations better than the interest rate over a longer time period. Consequently, investors should pay greater attention to the long-term effect of energy on the stock market

How to Develop Renewable Power in China? A Cost-Effective Perspective

To address the problems of climate change and energy security, Chinese government strived to develop renewable power as an important alternative of conventional electricity. In this paper, the learning curve model is employed to describe the decreasing unit investment cost due to accumulated installed capacity; the technology diffusion model is used to analyze the potential of renewable power. Combined with the investment cost, the technology potential, and scenario analysis of China social development in the future, we develop the Renewable Power Optimization Model (RPOM) to analyze the optimal development paths of three sources of renewable power from 2009 to 2020 in a cost-effective way. Results show that (1) the optimal accumulated installed capacities of wind power, solar power, and biomass power will reach 169000, 20000, and 30000 MW in 2020; (2) the developments of renewable power show the intermittent feature; (3) the unit investment costs of wind power, solar power, and biomass power will be 4500, 11500, and 5700 Yuan/KW in 2020; (4) the discounting effect dominates the learning curve effect for solar and biomass powers; (5) the rise of on-grid ratio of renewable power will first promote the development of wind power and then solar power and biomass power

Relationships among Energy Price Shocks, Stock Market, and the Macroeconomy: Evidence from China

This paper investigates the interactive relationships among China energy price shocks, stock market, and the macroeconomy using multivariate vector autoregression. The results indicate that there is a long cointegration among them. A 1% rise in the energy price index can depress the stock market index by 0.54% and the industrial value-adding growth by 0.037%. Energy price shocks also cause inflation and have a 5-month lag effect on stock market, which may result in the stock market “underreacting.” The energy price can explain stock market fluctuations better than the interest rate over a longer time period. Consequently, investors should pay greater attention to the long-term effect of energy on the stock market

Deformation processes of additively manufactured interstitial-strengthened high entropy alloy:In-situ high-energy synchrotron X-ray diffraction and microstructural appraisal

Additively manufactured components often exhibit pronounced anisotropy due to the heterogeneous microstructure generated by the complex and repetitive thermal cycling history. Grain orientation is one of the determinant microstructural features that influences the activation of different deformation mechanisms. In this work, laser powder-bed fusion (LPBF) was applied to fabricate Fe49.5Mn30Co10Cr10C0.5 interstitial-strengthened high entropy alloy (iHEA). Fabrication was performed at angles of 0° and 90° relative to the main laser scanning direction, and the plastic deformation behavior of these two oriented specimens was studied. The initial microstructure of the LPBF-built iHEA was composed of a complex heterogeneous columnar grains containing high-density dislocation network and a large number of stacking faults, as well as nano-precipitates and elemental segregation of Mn at subgrain boundaries. During uniaxial tension in-situ high-energy synchrotron X-ray diffraction (HE-SXRD) was performed to track the deformation processes and mechanisms of this metastable iHEA. The influence of different deformation mechanisms on the mechanical responses of the current LPBF-built iHEA was scrutinized combining in-situ HE-SXRD with electron backscattered diffraction (EBSD) and transmission electron microscopy (TEM) analyses, which not only gives insights into the macrostructural evolution but also provides comprehensive characterization on microstructural responses and the orientation-dependent effects imposed by the fabrication constraints originally imposed. The implemented multiscale characterization revealed the presence of a strain-induced fcc to hcp phase transformation, which is influenced by the growth texture close to &lt;110&gt; along the building direction. Moreover, EBSD and TEM analysis of the fracture regions uncovered the formation of nanosized deformation twins, confirming the simultaneous activation of phase transformation- and twinning-induced plasticity (TRIP and TWIP) effects. The results obtained in this work gain new insights into orientation-dependent deformation behavior of additively manufactured iHEA, which facilitates the microstructural design when exploiting the TRIP/TWIP effects.</p

The Ninth Visual Object Tracking VOT2021 Challenge Results

acceptedVersionPeer reviewe

How to Develop Renewable Power in China? A Cost-Effective Perspective

To address the problems of climate change and energy security, Chinese government strived to develop renewable power as an important alternative of conventional electricity. In this paper, the learning curve model is employed to describe the decreasing unit investment cost due to accumulated installed capacity; the technology diffusion model is used to analyze the potential of renewable power. Combined with the investment cost, the technology potential, and scenario analysis of China social development in the future, we develop the Renewable Power Optimization Model (RPOM) to analyze the optimal development paths of three sources of renewable power from 2009 to 2020 in a cost-effective way. Results show that (1) the optimal accumulated installed capacities of wind power, solar power, and biomass power will reach 169000, 20000, and 30000 MW in 2020; (2) the developments of renewable power show the intermittent feature; (3) the unit investment costs of wind power, solar power, and biomass power will be 4500, 11500, and 5700 Yuan/KW in 2020; (4) the discounting effect dominates the learning curve effect for solar and biomass powers; (5) the rise of on-grid ratio of renewable power will first promote the development of wind power and then solar power and biomass power

Pre-treatments for enhanced biochemical methane potential of bamboo waste

Various pre-treatments (acid, alkaline, enzyme and alkaline aided enzyme also termed combined) were evaluated on different fractions of bamboo waste from a chopstick production factory. Chemical oxygen demand (COD) solubilisation, monomeric/dimeric sugar yield, methane yield enhancement and methane production rate were assessed. The biochemical methane potential was determined in batch assays under mesophilic conditions (37 1 C) using the Automatic Methane Potential Test System (AMPTS-II). Pre-treatments led to enhanced COD solubilisation as compared to raw sample. Alkaline aided enzymatic pre-treatment led to the highest sugar yield, comparable to the theoretical yield. However, high sugar yield did not translate to high methane yield. The best pre-treatment in terms of methane yield was alkaline pre-treatment which resulted in a surplus of up to 88% methane yield. There was a positive correlation between dissolved COD and methane yield. Methane yield and methane production rate also increased with decreasing particle sizes. In all investigated scenarios, pre-treatment led to an improved methane production rate as compared to the raw samples. These results demonstrated that alkaline pre-treatment at ambient temperature was an efficient treatment option to improve methane yield of bamboo waste. (C) 2013 Elsevier B.V. All rights reserved

Deformation processes of additively manufactured interstitial-strengthened high entropy alloy: In-situ high-energy synchrotron X-ray diffraction and microstructural appraisal

Additively manufactured components often exhibit pronounced anisotropy due to the heterogeneous microstructuregenerated by the complex and repetitive thermal cycling history. Grain orientation is one of thedeterminant microstructural features that influences the activation of different deformation mechanisms. In thiswork, laser powder-bed fusion (LPBF) was applied to fabricate Fe49.5Mn30Co10Cr10C0.5 interstitial-strengthenedhigh entropy alloy (iHEA). Fabrication was performed at angles of 0◦ and 90◦ relative to the main laser scanningdirection, and the plastic deformation behavior of these two oriented specimens was studied. The initialmicrostructure of the LPBF-built iHEA was composed of a complex heterogeneous columnar grains containinghigh-density dislocation network and a large number of stacking faults, as well as nano-precipitates andelemental segregation of Mn at subgrain boundaries. During uniaxial tension in-situ high-energy synchrotron Xraydiffraction (HE-SXRD) was performed to track the deformation processes and mechanisms of this metastableiHEA. The influence of different deformation mechanisms on the mechanical responses of the current LPBF-builtiHEA was scrutinized combining in-situ HE-SXRD with electron backscattered diffraction (EBSD) and transmissionelectron microscopy (TEM) analyses, which not only gives insights into the macrostructural evolutionbut also provides comprehensive characterization on microstructural responses and the orientation-dependenteffects imposed by the fabrication constraints originally imposed. The implemented multiscale characterizationrevealed the presence of a strain-induced fcc to hcp phase transformation, which is influenced by the growthtexture close to along the building direction. Moreover, EBSD and TEM analysis of the fracture regionsuncovered the formation of nanosized deformation twins, confirming the simultaneous activation of phasetransformation- and twinning-induced plasticity (TRIP and TWIP) effects. The results obtained in this work gainnew insights into orientation-dependent deformation behavior of additively manufactured iHEA, which facilitatesthe microstructural design when exploiting the TRIP/TWIP effects

Poly(hydroxyethyl methacrylate)-based composite cryogel with embedded macroporous cellulose beads for the separation of human serum immunoglobulin and albumin

A novel super-macroporous monolithic composite cryogel was prepared by embedding macroporous cellulose beads into poly(hydroxyethyl methacrylate) cryogel. The cellulose beads were fabricated by using a microchannel liquid-flow focusing and cryopolymerization method, while the composite cryogel was prepared by cryogenic radical polymerization of the hydroxyethyl methacrylate monomer with poly(ethylene glycol) diacrylate as cross-linker together with the cellulose beads. After graft polymerization with (vinylbenzyl)trimethylammonium chloride, the composite cryogel was applied to separate immunoglobulin-G and albumin from human serum. Immunoglobulin-G with a mean purity of 83.2% and albumin with a purity of 98% were obtained, indicating the composite cryogel as a promising chromatographic medium in bioseparation for the isolation of important bioactive proteins like immunoglobulins and albumins