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Small and medium-sized enterprises (SMEs) were an important part of China's economy, but they faced challenges to growth due to financing difficulties. Government subsidies are considered as a potential way to address this problem. This study aims to assess the effectiveness of the Chinese government's subsidy program aimed at improving the accessibility of financing for SMEs. We analyze a comprehensive dataset of Chinese firms' subsidy programs from 2011 to 2020. We classify subsidies into unconditional and conditional categories and use fixed-effects regression models to control for the effects of time and between-group variation to more accurately assess the effectiveness of government subsidies. In addition, we use a PSM-DID model to reduce the effect of selectivity bias to more accurately estimate the causal effect of subsidies on financing strategies. We also use a mediated effects model to help understand the mechanisms by which different types of subsidies affect financing strategies. The results show that government subsidies can significantly improve SMEs' financing ability, but different types of subsidies produce subtle differences. Conditional subsidies support debt financing mainly through incentives, while unconditional subsidies help SMEs improve their equity financing ability through information effects. Furthermore, we find that over-reliance on a single subsidy type may reduce its effectiveness, suggesting a complex relationship between government intervention and SME financing. Thus, well-designed policies are crucial for promoting SMEs and fostering economic growth. [ABSTRACT FROM AUTHOR]

The interrelated side reactions and dendrites growth severely destabilize the electrode/electrolyte interfaces, resulting in the difficult application of aqueous Zn ion batteries (AZIBs). Hydrophobic protective layer possesses natural inhibition ability for side reactions. However, the conventional protective layer with plane structure is difficult to attain joint regulation of side reaction and Zn nucleation. Herein, a novel three‐dimensional (3D) electrically conductive and hydrophobic (3DECH) interface is elaborated to enable stable Zn anode. The as‐prepared 3DECH interface presents a uniform 3D morphology with hydrophobic property, large specific surface area, abundant zincophilic sites, and excellent electroconductivity. Therefore, the 3DECH interface achieves uniform nucleation and dendrite‐free deposition from synergetic benefits: (1) increased nucleation sites and reduced local current density through the special 3D structure and (2) uniform electric potential distribution and rapid Zn2+ transport due to the electroconductive alloy chemistry, thus coupling the hydrophobic property to obtain a highly reversible Zn anode. Consequently, the modified anode achieves a superior coulombic efficiency of 99.88% over 3500 cycles, and the pouch cells using modified anode and LiMn2O4 (LMO) cathode retain a capacity of 84 mAh g−1 after 700 cycles at a reasonable depth discharge of 36%, without dendrite piercing and "dead Zn." [ABSTRACT FROM AUTHOR]

The Zn//V2O5 system not only faces the incontrollable growth of zinc (Zn) dendrites, but also withstands the cross‐talk effect of by‐products produced from the cathode side to the Zn anode, inducing interelectrode talk and aggravating battery failure. To tackle these issues, we construct a rapid Zn2+‐conducting hydrogel electrolyte (R‐ZSO) to achieve Zn deposition modulation and side reaction inhibition in Zn//V2O5 full cells. The polymer matrix and BN exhibit a robust anchoring effect on SO42−, accelerating Zn2+ migration and enabling dense Zn deposition behavior. Therefore, the Zn//Zn symmetric cells based on the R‐ZSO electrolyte can operate stably for more than 1500 h, which is six times higher than that of cells employing the blank electrolyte. More importantly, the R‐ZSO hydrogel electrolyte effectively decouples the cross‐talk effects, thus breaking the infinite loop of side reactions. As a result, the Zn//V2O5 cells using this modified hydrogel electrolyte demonstrate stable operation over 1,000 cycles, with a capacity loss rate of only 0.028 % per cycle. Our study provides a promising gel chemistry, which offers a valuable guide for the construction of high‐performance and multifunctional aqueous Zn‐ion batteries. [ABSTRACT FROM AUTHOR]

Zinc‐bromine batteries (ZBBs) have emerged as a compelling solution for large‐scale energy storage, yet they confront significant technical challenges impeding widespread commercialization. The electrochemical processes within ZBBs rely on a stoichiometric mechanism, where the bromine reaction at the cathode drives the zinc plating reaction on the anode. However, the sluggish electrochemical kinetics of Br2/Br− redox reactions lead to substantial electrochemical polarization, resulting in interruptions in zinc plating and significant voltage losses in ZBBs. This study introduces a new solution to address these challenges by leveraging carbon nanofiber decorated with tin nanoparticles as an efficient catalyst. The catalyst serves to enhance the Br2/Br– redox reaction, effectively reducing voltage losses in ZBBs. When implemented in static ZBB configurations, the Sn/CNF catalysts demonstrate exceptional long‐term stability, achieving an impressive 3000 cycles with minimal voltage loss. In contrast, ZBBs utilizing SnO2 based catalysts experience a substantially higher voltage loss of 736 mV, along with limited and unstable cycling performance. These findings signify a promising approach for the development of catalytic electrodes, paving the way for high‐performance ZBBs with improved efficiency and cycling durability. [ABSTRACT FROM AUTHOR]