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In recent years, with the rapid expansion of commercial banks' non-standardized business, the systematic correlation between shadow banking and commercial banks in China has been gradually enhanced, which enables the partial liquidity crisis of shadow banking to spread rapidly to commercial banks, leading to the increased vulnerability of China's financial system. Based on this, we built shadow banking indexes of trusts, securities, private lending and investments, introduced the dynamic correlation coefficient calculated by the dynamic conditional correlation multivariate GARCH model into the improved CoVaR model, and used the DCC-BEKK-MVGARCH-Time-Varying CoVaR Model to measure the risk overflow contribution of shadow banking in China. We find that shadow banking and commercial banks have an inherent relationship. Due to their own risks, different types of shadow banking contribute to the risk spillover to commercial banks in different degrees. The risk correlation between shadow banking and commercial banks fluctuates. Securities, trusts, private lending and investments shadow banking have different degrees of risk spillover contributions to commercial banks. Securities shadow banking has the highest risk spillover contribution. The next is trusts shadow banking. The risk spillover contributions from private lending and investments shadow banking are lower, but their volatilities are higher. The supervising department should standardize the information disclosure system of shadow banking and establish the risk firewall of commercial banks and shadow banking from the perspective of the risk spillover contribution. [ABSTRACT FROM AUTHOR]

China is now the world's largest energy consumer, but severe air pollution problems have brought greater pressure to the production and development of its domestic economy. As an unavoidable result of air pollution, PM2.5 emissions are increasing. Previous literature has focused more on the impact of PM2.5 on the micro-level such as resident health and company location, yet macro-pattern studies between PM2.5 and innovation are inadequate. To bridge this gap, our research uses a spatial dynamic panel data model to systematically investigate the internal and external effects of PM2.5 concentration on innovation in China during the period 2001–2016. After forming a dataset of real-time PM2.5 concentration from satellite detection and using an innovation index instead of patents, we find a stronger spatial linkage between PM2.5 concentration and innovation. Thus, PM2.5 inhibits regional innovation significantly, and this result still exists after using the air mobility index as an instrument variable to alleviate endogenous problems. Lastly, PM2.5 concentration in neighboring regions also impedes local innovation considerably, indicating a spatial ripple effect of PM2.5. [ABSTRACT FROM AUTHOR]

China's fiscal decentralization has the dual characteristics of revenue decentralization and expenditure decentralization, and their impacts on green total factor productivity are also different. By calculating the Malmquist-Luenburger index and using the Spatial Durbin Model, this study examines the effects of dual decentralization on green total factor productivity (GTFP) from the perspective of fiscal competition. It was found that revenue decentralization significantly hindered the improvement of a local area's GTFP, and that the impact of fiscal revenue competition on a local area's GTFP is also significantly negative. The expenditure decentralization and the fiscal expenditure competition among different areas are conducive to improving the local area's GTFP. Moreover, the impact of revenue decentralization on efficiency improvement is significantly negative, while the expenditure decentralization is conducive to technical progress. All these findings may provide enlightenment for optimizing China's fiscal decentralization and promoting high-quality economic development. [ABSTRACT FROM AUTHOR]

Arsenian pyrite in the Shuiyindong Carlin-type gold deposit in Guizhou, China, is the major host for gold with 300 to 4,000 ppm Au and 0.65 to 14.1 wt.% As. Electron miroprobe data show a negative correlation of As and S in arsenian pyrite, which is consistent with the substitution of As for S in the pyrite structure. The relatively homogeneous distribution of gold in arsenian pyrite and a positive correlation of As and Au, with Au/As ratios below the solubility limit of gold in arsenian pyrite, suggest that invisible gold is likely present as Au in a structurally bound Au complex in arsenian pyrite. Geochemical modeling using the laser ablation-inductively coupled plasma mass spectrometry (LA-ICP-MS) analysis of fluid inclusions for the major ore forming stage shows that the dominant Au species were Au(HS) (77%) and AuHS (23%). Gold-hydroxyl and Gold-chloride complexes were negligible. The ore fluid was undersaturated with respect to native Au, with a saturation index of −3.8. The predominant As species was HAsO. Pyrite in the Shuiyindong deposit shows chemical zonation with rims richer in As and Au than cores, reflecting the chemical evolution of the ore-bearing fluids. The early ore fluids had relatively high activities of As and Au, to deposit unzoned and zoned arsenian pyrite that host most gold in the deposit. The ore fluids then became depleted in Au and As and formed As-poor pyrite overgrowth rims on gold-bearing arsenian pyrite. Arsenopyrite overgrowth aggregates on arsenian pyrite indicate a late fluid with relatively high activity of As. The lack of evidence of boiling and the low iron content of fluid inclusions in quartz, suggest that iron in arsenian pyrite was most likely derived from dissolution of ferroan minerals in the host rocks, with sulfidation of the dissolved iron by HS-rich ore fluids being the most important mechanism of gold deposition in the Shuiyindong Carlin-type deposit. [ABSTRACT FROM AUTHOR]

Marine strata are widely exposed in the Hushan and Chaohu areas, Lower Yangtze region. As biomarker geochemistry of the strata has not been well documented, this paper deals with the biomarker composition of representative samples collected from the Silurian, Carboniferous and Triassic systems and their geological implications, thus providing clues to marine organic matter. On the basis of experimental results, it is shown that abundant biomarkers (e.g. n-alkanes, isoprenoids, terpanes and steranes) were detected. As organic matter in the strata is highly to over mature in general based on petrologic microobservation, some biomarkers (mainly n-alkanes) except terpanes and steranes cannot reflect the source, depositional environment and maturity of organic matter. Thus, primarily based on analyses of the terpanes and steranes, it is suggested that organic matter in the Silurian and Carboniferous strata is derived mainly from lower organisms, while higher plants are predominant in the Triassic organic matter. This further indicates that the depositional environment may have transformed from the marine to continental facies in the Late Triassic. These results provide new evidence for the study of regional depositional evolution, and have enriched the study of biological composition of organic matter. In addition, the biomarker geochemistry of organic matter at high to over maturation stage is addressed. [ABSTRACT FROM AUTHOR]

Provides information on a study which conducted the localization of type 2 diabetes susceptibility gene loci in Chinese Han families from Northern China. Materials and methods; Results; Discussion of findings.