The impact of CSI-300 stock index futures on the volatility of stock price based on panel data analysis

This paper analyses the change in Chinese stock volatilities after CSI-300 index futures was introduced into the market on 16 April 2010. The investigated period is from 1 August 2006 to 31 December 2013. To study this effect, the panel data evaluation approach is used. This paper uses random effects model, fixed effects model and Hausman test to conduct empirical analysis. The results of empirical analysis are slightly ambiguous. The futures related variable of the change rate of open interest affects the underlying stock volatilities insignificantly, while the variable of trading volume divided by open interest significantly influence them. The coefficients of these two variables under regression indicate that futures trading is positive correlated with the change in stock volatility. However, the overall cash market volatility was still decreasing according to the regression results. This suggests that although the trading on CSI-300 index futures lead more price fluctuations on the underlying cash market, this effect was covered by some other factors. In conclusion, this paper provides possible explanation for this outcome regarding to the Chinese specific financial environment and some suggestions on the improvement and development of Chinese futures market

Shape Completion with Points in the Shadow

Single-view point cloud completion aims to recover the full geometry of an object based on only limited observation, which is extremely hard due to the data sparsity and occlusion. The core challenge is to generate plausible geometries to fill the unobserved part of the object based on a partial scan, which is under-constrained and suffers from a huge solution space. Inspired by the classic shadow volume technique in computer graphics, we propose a new method to reduce the solution space effectively. Our method considers the camera a light source that casts rays toward the object. Such light rays build a reasonably constrained but sufficiently expressive basis for completion. The completion process is then formulated as a point displacement optimization problem. Points are initialized at the partial scan and then moved to their goal locations with two types of movements for each point: directional movements along the light rays and constrained local movement for shape refinement. We design neural networks to predict the ideal point movements to get the completion results. We demonstrate that our method is accurate, robust, and generalizable through exhaustive evaluation and comparison. Moreover, it outperforms state-of-the-art methods qualitatively and quantitatively on MVP datasets.Comment: SIGGRAPH Aisa 2022 Conference Pape

Assessing the ecosystem services of various types of urban green spaces based on i-Tree eco

Urban green spaces play a crucial role in maintaining urban ecosystem sustainability by providing numerous ecosystem services. How to quantify and evaluate the ecological benefits and services of urban green spaces remains a hot topic currently, while the evaluation is barely applied or implemented in urban design and planning. In this study, super-high-resolution aerial images were used to acquire the spatial distribution of urban green spaces; a modified pre-stratified random sampling method was applied to obtain the vegetation information of the four types of urban green spaces in Luohe, a common plain city in China; and i-Tree Eco model was further used to assess the vegetation structure and various ecosystem services including air quality improvement, rainfall interception, carbon storage, and sequestration provided by four types of urban green spaces. The modeling results reveal that there were about 1,006,251 trees in this area. In 2013, all the trees in these green spaces could store about 54,329 t of carbon, sequester about 4973 t of gross carbon, remove 92 t of air pollutants, and avoid 122,637 m3 of runoff. The study illustrates an innovative method to reveal different types of urban green spaces with distinct ecosystem service productivity capacity to better understand their various roles in regulating the urban environment. The results could be used to assist urban planners and policymakers to optimize urban green space structure and composition to maximize ecosystem services provision

Feasibility Study on a Portable Field Pest Classification System Design Based on DSP and 3G Wireless Communication Technology

This paper presents a feasibility study on a real-time in field pest classification system design based on Blackfin DSP and 3G wireless communication technology. This prototype system is composed of remote on-line classification platform (ROCP), which uses a digital signal processor (DSP) as a core CPU, and a host control platform (HCP). The ROCP is in charge of acquiring the pest image, extracting image features and detecting the class of pest using an Artificial Neural Network (ANN) classifier. It sends the image data, which is encoded using JPEG 2000 in DSP, to the HCP through the 3G network at the same time for further identification. The image transmission and communication are accomplished using 3G technology. Our system transmits the data via a commercial base station. The system can work properly based on the effective coverage of base stations, no matter the distance from the ROCP to the HCP. In the HCP, the image data is decoded and the pest image displayed in real-time for further identification. Authentication and performance tests of the prototype system were conducted. The authentication test showed that the image data were transmitted correctly. Based on the performance test results on six classes of pests, the average accuracy is 82%. Considering the different live pests’ pose and different field lighting conditions, the result is satisfactory. The proposed technique is well suited for implementation in field pest classification on-line for precision agriculture

The impact of CSI-300 stock index futures on the volatility of stock price based on panel data analysis

This paper analyses the change in Chinese stock volatilities after CSI-300 index futures was introduced into the market on 16 April 2010. The investigated period is from 1 August 2006 to 31 December 2013. To study this effect, the panel data evaluation approach is used. This paper uses random effects model, fixed effects model and Hausman test to conduct empirical analysis. The results of empirical analysis are slightly ambiguous. The futures related variable of the change rate of open interest affects the underlying stock volatilities insignificantly, while the variable of trading volume divided by open interest significantly influence them. The coefficients of these two variables under regression indicate that futures trading is positive correlated with the change in stock volatility. However, the overall cash market volatility was still decreasing according to the regression results. This suggests that although the trading on CSI-300 index futures lead more price fluctuations on the underlying cash market, this effect was covered by some other factors. In conclusion, this paper provides possible explanation for this outcome regarding to the Chinese specific financial environment and some suggestions on the improvement and development of Chinese futures market

Transient electromagnetic-thermal nondestructive testing

Transient Electromagnetic-Thermal Nondestructive Testing: Pulsed Eddy Current and Transient Eddy Current Thermography covers three key areas of theories, methods and applications, primarily the multi-physics field, including eddy current, heat conduction and Infrared radiation for defect evaluation, lateral heat conduction, which is analyzed to detect parallel cracks, and longitudinal heat conduction, which is analyzed to detect depth defect, or that which is beyond skin depth. In addition, the book explores methods, such as time domain, frequency domain and logarithm domain, also comparing A-scan , B-scan and C-scan. Sections on defect identification, classification and quantification are covered, as are advanced algorithms, principal components analysis (PCA), independent components analysis (ICA) and support vector machine (SVM). The book uses a lot of experimental studies on multi-layer aluminum structures, honeycomb structure, CFRP in the aerospace field, and steel and coating in the marine rail and transportation fields

Land use dynamics and policy implications in Central China: A case study of Zhengzhou

The decisions of the central Chinese government have been a key driver of the urbanization process in large cities in eastern China, however their influence on the later-urbanizing cities in central China is unclear. The objective of this study was to use remote sensing data and spatial metrics to identify the relative influence of planning policies at various levels (relative to socioeconomic influences) on trends in landscape patterns in the rapid urbanization process of Zhengzhou, the capital city of Henan Province and the core city of central China. Our results revealed that Zhengzhou\u27s rapid urbanization process started about a decade after the eastern coastal cities due to the national development strategy (the Preferential Regional Development Strategy in 1980s and the Hinterland City Opening Policy in 1992), but boomed after 2000 due to increasing national support along with an increased number of planning policies at multiple levels. After 2004, the city experienced a critical landscape transition from a primarily agricultural to an urban-dominated landscape (which has not yet occurred over the whole region). Planning for an inter-city railway network and construction between cities increased the connectivity of urban space, but fragmented other land use types. Urban and green space expanded primarily into agricultural areas, reducing them in extent, simplifying their boundaries, and increasing their fragmentation; these changes likely reduce food production capacity. Trends in construction sites illustrate the exhaustion of land resources in Zhengzhou city and forecast a new round of urban growth in the adjacent cities (Xinzheng, Zhongmou and Xingyang). High-level policy intervention and scientific planning will be very important to urban-rural sustainable development for the region

Risk assessment of soil erosion by application of remote sensing and GIS in Yanshan Reservoir catchment, China

Soil erosion is considered to be a serious problem for environmental sustainability. Healthy and stable soils are crucial for human well-being, providing important ecosystem functions and services. There is a need for a simple and practical approach which estimates and maps soil erosion risk that uses available information as input data to facilitate water and soil conservation. In this work, we developed a predictive approach to estimating the soil erosion risk of the Yanshan Reservoir catchment, which combines remote sensing information, geographic information system spatial analysis technology and a soil erosion risk assessment model. Three dominating factors affecting soil erosion were considered: vegetation coverage, topographic slope and land use. The soil erosion risk was divided into six levels: slight, light, moderate, intense, severe and extremely severe. The slight and light erosion risk accounted for about 83 % of the watershed and was prominent in cultivated land areas, while areas with relatively higher erosion risk were on steep slopes. This approach pointed to inappropriate land use and development as a source of increased risk of soil erosion of the Yanshan Reservoir catchment. Compared with field survey data, the soil erosion modeling approach was shown to have a high accuracy. Therefore, this model could be used to estimate and map soil erosion intensity and distribution at the catchment scale, and could provide useful information for managers and planners to make land management and conservation decisions

Assessing the Ecosystem Services of Various Types of Urban Green Spaces Based on i-Tree Eco

Urban green spaces play a crucial role in maintaining urban ecosystem sustainability by providing numerous ecosystem services. How to quantify and evaluate the ecological benefits and services of urban green spaces remains a hot topic currently, while the evaluation is barely applied or implemented in urban design and planning. In this study, super-high-resolution aerial images were used to acquire the spatial distribution of urban green spaces; a modified pre-stratified random sampling method was applied to obtain the vegetation information of the four types of urban green spaces in Luohe, a common plain city in China; and i-Tree Eco model was further used to assess the vegetation structure and various ecosystem services including air quality improvement, rainfall interception, carbon storage, and sequestration provided by four types of urban green spaces. The modeling results reveal that there were about 1,006,251 trees in this area. In 2013, all the trees in these green spaces could store about 54,329 t of carbon, sequester about 4973 t of gross carbon, remove 92 t of air pollutants, and avoid 122,637 m3 of runoff. The study illustrates an innovative method to reveal different types of urban green spaces with distinct ecosystem service productivity capacity to better understand their various roles in regulating the urban environment. The results could be used to assist urban planners and policymakers to optimize urban green space structure and composition to maximize ecosystem services provision