China's markets gained 3.86% around December 4, 2012, when the Party announced anti-corruption reforms. State-owned enterprises (SOEs) with higher past entertainment and travel costs (ETC) gained more. NonSOEs gained in more liberalized provinces, especially those with high past ETC,...

Hydrogen is regarded as one of the limited options for decarbonizing the hard-to-abate industrial sector. This work investigates the status and potential of green and blue hydrogen in some major industrial sectors, including oil refining, chemical production, iron and steel production, and...

Urban system theory seeks to comprehensively capture the complexity of cities. Digital twin cities are "digital mirror images" or symbionts of physical cities, and thus, they form a complex adaptive system. Unlike the reductionist practice of urban informatization and digitalization, digital...

Human activities widely exhibit a power-law distribution. Considering stock trading as a typical human activity in the financial domain, the first aim of this paper is to validate whether the well-known power-law distribution can be observed in this activity. Interestingly, this paper determines...

We examine the impact of Special Economic Zones (SEZs) on innovation using China's county-level data from 1985 to 2011. Results show that the establishment of SEZs promotes a county's innovation in terms of application, grant and citation numbers of patents by 15%-25%, 8%-22% and 15%-25%,...

A growing body of literature is investigating the social and cultural determinants of household financing activity. This paper examines the impact of traditional culture, specifically Confucian culture in China, on informal household financing at the county level. We find that Confucian culture...