Energy Industry In China Research Articles

Analysis of and Thinking on New Energy Enterprises Engagement in Standardization Activities

With the unprecedented development of new energy industry in China, new energy enterprises are also facing many problems, the most important of which is that the transformation of scientific and technological achievements into real productive forces is not successful enough. The paper studies the relationship between new energy enterprises and standardization activities, analyzes the policies on, challenges in and institutional construct to new energy enterprises engagement in standardization activities, and identifies the role and impact of new energy enterprises engagement in standardization. And it intends to provide the technical program for new energy enterprises engagement in standardization, thus enable them to establish scientific management, promote technological innovation and the transformation and application of scientific and technological achievements, finally achieves the purposes of environmental protection and economic sustainable development.

The impact of oil price changes on stock returns of new energy industry in China: A firm-level analysis

This paper aims to investigate the impact of oil price changes on the new energy industry in China from the perspective of firm-level analysis. Specifically, we firstly evaluate the contemporaneous effect of oil price changes on the stocks of the new energy industry and find the heterogeneous performance of new energy firms with respect to oil prices. Moreover, we find a phenomenon that the lagged effect of oil prices on most new energy firms in the short term is stronger than that in the long term. In addition, we demonstrate the strong asymmetric effect of oil prices on most new energy firms. Finally, we find that state-owned firms are more robust to the asymmetric effect of oil prices, whereas domestic privately-owned firms are more robust to negative oil price returns.

The Effects of Environmental Information Disclosure and Energy Types on the Cost of Equity: Evidence from the Energy Industry in China

This study investigates whether environment information disclosure (EID) and different energy sources have any effect on the cost of equity capital (COEC), and how the EID effect on the COEC varies with different types of energy. We find a negative relationship between EID and COEC. Thus, EID reduces the agency problem and information asymmetry between firms and investors, and also supports the legitimacy and stakeholder theories’ explanation of the effect of EID on the COEC in China. We find a positive (negative) relationship between some energy sources such as gas, fossil‐fuelled thermal power generation, and oil (hydro‐power generation, solar, and wind) and the COEC. The finding explains the polluting nature, risk of replacement, regulation risk, and regulatory costs of different energy types, and those risks have been accounted by investors. We also find that when gas, fossil‐fuelled thermal power, and oil firms increase their level of EID, their COEC increases, whereas when power grid, solar, and wind power firms increase their level of EID, their COEC decreases. This finding is supported by the combination of polluting nature, risk of replacement, regulation risk, and regulatory costs of different energy sources and legitimacy and stakeholder theories. Our findings are robust to several endogeneity checks and additional tests for several unique features of Chinese capital markets.

The Economic Effects of the Development of the Renewable Energy Industry in China

It is believed that renewable energy may become a dominant energy in the future. However, whether renewable energy can promote industry development like the use of fossil energy is still unknown. This paper uses social accounting matrix (SAM) multiplier model to analyze the economic effects of renewable and coal energy in China. The transmission mechanisms of renewable and coal energy on production factors are also compared from the perspective of sector industry chain based on the structural path analysis (SPA) analysis method. We found that; renewable energy plays a stronger role in promoting the national economy than coal energy. Meanwhile, renewable energy can better promote the upgrading of the industrial structure compared with coal energy. Additionally, renewable energy affects economic development, mainly through the intermediate industries such as electrical machinery manufacturing and transportation, warehousing and service industries. These findings provide further insights into the influence path of renewable energy, which yields important implications for reasonably designing and choosing new energy development planning.

A study on the spatial distribution of the renewable energy industries in China and their driving factors

Examining the spatial distribution of the renewable energy industries (REIs) at the county-level and their driving factors is critical for appropriate future policy-making. However, there have been very few studies on this issue to date in China. From a geographical perspective, this study uses the data of the total number and generating capacity of renewable energy plants at the county-level to investigate the spatial distribution patterns of China's REIs, and analyzes their driving factors. The results show that the past decade has witnessed unprecedented development in renewable energy technologies in China, and REIs are constantly springing up in the southwestern and northwestern China, exhibiting a “double-core” spatial pattern. Furthermore, this distribution pattern significantly exhibits resource-dependent and policy-led characteristics, namely, environmental conditions, the abundance of renewable resources and supportive policies are the crucial factors in the clustering of the REIs in China. In addition, as a powerful stimulus to the development of renewable energy economy, the effect of governmental policy significantly varies among different REIs, and a spatial mismatch between the abundance of renewable resources and local governmental development policies is identified, especially for the wind and solar power industries.

Predicting the capital intensity of the new energy industry in China using a new hybrid grey model

Abstract Capital intensity is an important indicator for reflecting the relative changes of production factors of an industry. The facilitating effect of capital deepening, i.e., the positive impact of the augment of capital intensity, towards the structural transformation of the industry is definite. Therefore, the accurate prediction of capital intensity of the new energy industry is of great significance in facilitating the structural transformation and upgrading of the industry. Based on the Cobb-Douglas production function, an industry-level capital-labour ratio (KLR) model is established to describe the dynamic characteristics of the capital intensity. Then, by combining the estimation and prediction method of the nonlinear grey Bernoulli model (NGBM(1, 1)) with the KLR model, a new hybrid grey model, i.e., NGBM(1, 1)-KLR model is proposed. In this way, the economic meaning of the KLR and the advantage of the NGBM(1, 1) model in solving small-sample and nonlinear problems are complemented with each other, which enables one to more favourably predict the capital intensity of the industry. To verify the effectiveness and superiority of the proposed model, the NGBM (1, 1)-KLR model is used to predict the capital intensity of the new energy industry in China, and the model is compared with the GM(1, 1) and the NGBM(1, 1) models in the prediction performance. The empirical results show that the NGBM(1, 1)-KLR model can more accurately predict the capital intensity of the industry in China than the GM(1, 1) and the NGBM(1, 1) models. Moreover, the new hybrid grey model is used to carry out the out-of-sample prediction for the capital intensity of the new energy industry in China in the period of 2017–2020. The predicted results demonstrate that the structure of the industry in China will further transform and upgrade towards the capital deepening.

Performance Evaluation on Intellectual Property Rights Policy System of the Renewable Energy in China

With the intensive consumption and price rising of traditional fossil fuels, the development and utilization of renewable energy has attracted worldwide attention. Meanwhile, due to enhanced energy constraints and increasingly grim greenhouse gases, many countries all over the world have been developing renewable energy technologies to promote sustainable growth economically. Intellectual property rights (IPR) policy linked to renewable energy provides institutional guarantee for the development of renewable energy industry and technology. This study works to test the performance of IPR policies of renewable energy industry in China. We employed Cobb-Douglas production function and built on a quantitative policy indicator measurement system over the period from 2004 to 2013 to evaluate the impact of IPR policy of renewable energy industry on innovation and market development in China, which provides an all-round study on the IPR system by clearing up all IPR policy system that is related to the renewable energy industry. The results of Multiple Regression Models indicated that the current IPR policy of renewable energy industry are disconnected from China’s reality because the innovation ability of the renewable energy industry has not been improved rapidly and that both the market transformation ability and market prospect of new energy technology patents are weak.

Applying a nonparametric random forest algorithm to assess the credit risk of the energy industry in China

With the rapid growth of the credit card business in China's energy industry, credit risk is gradually revealed. This study aims to scientifically measure the credit risk of credit cards used in China's energy industry and to lay the foundation for comprehensive credit risk management. Based on an analysis of the factors influencing credit risk influencing factors, this study applies the random forest algorithm and the monthly data of credit cards used by energy industry customers in a branch of the Postal Savings Bank of China from April 2014 to June 2017 to build an effective credit risk assessment model and scientifically measure the credit risk in China's energy industry. The results suggest that credit card features like the overdraft ratio and the amount of credit card expenses within a month have significant impacts on credit risk, our model's comprehensive prediction accuracy is as high as 91.5%, and its stability is satisfying. These findings can provide valuable information to help banks improve their credit risk management.

Technology Transmission Across National Innovation Systems: The Role of Danish Suppliers in Upgrading the Wind Energy Industry in China

This paper advances our understanding of how technology upgrading in the Chinese wind turbine industry is linked to internationalisation of Danish component suppliers. In order to grasp the interlinkages and implications hereof, the paper combines perspectives of global value chains (GVC), national innovation systems (NIS) and firm-level capabilities. The paper employs a qualitative methodology, drawing on explorative case studies of component suppliers and their links to lead firms in the wind turbine industry. The findings of the paper highlight the new pattern of upgrading by upstream linkages, i.e. linking up with global suppliers in the wind turbine global value chain, and the new role of component suppliers as technology transmitters across national innovation systems into emerging markets. Conceptually, the paper contributes to understanding how technological catching up in value chains links to the intersection between national innovation systems, a process driven by global value chain dynamics. Cet article fait progresser notre comprehension de la facon dont la modernisation de la technologie dans l’industrie eolienne chinoise est liee a l’internationalisation des fournisseurs de composants danois. Afin d’en saisir les interdependances et les implications, l’article combine les perspectives des chaines de valeur mondiales (CVM), des systemes d’innovation nationaux (SIN) et des capacites au niveau de l’entreprise. L’article utilise une methodologie qualitative, s’appuyant sur des etudes de cas exploratoires de fournisseurs de composants et de leurs liens avec des entreprises de pointe dans l’industrie des eoliennes. Les conclusions de l’article mettent en avant la nouvelle tendance de modernisation grâce aux liens en amont, a savoir la connexion avec les fournisseurs mondiaux dans la chaine de valeur mondiale des eoliennes et le nouveau role des fournisseurs de composants comme transmetteurs de technologie dans les systemes nationaux d’innovation et jusque dans les marches emergents. Sur le plan conceptuel, l’article contribue a comprendre comment le rattrapage technologique dans les chaines de valeur est lie a l’intersection entre les systemes d’innovation nationaux, un processus conduit par la dynamique de la chaine de valeur mondiale.

A Critical Analysis on Influential Factors on Power Energy Resources in China

China is facing a number of challenges, such as environmental pollution, energy security, and slowing down of economic growth. China's total energy consumption has been leading the worldwide consumption for several years. China's annual primary energy consumption accounts for more than 90% of total energy consumption, and the country's utilization of wind energy, solar energy, biomass energy, and other new form of energy remains very low. This research has adopted a strength, weakness, opportunity, and threat (SWOT) analysis approach to examine the internal and external factors that affect the competitiveness of the energy industry in China. An extensive and critical review of a wide range of literature was conducted, including academic papers, industry reports, statistical data, relevant regulations, and policy documents. Eighteen factors were identified from the literature review. These factors form part of an integrated framework that provides a useful tool for policy makers and the industry to gain a better understanding of the factors that affect the sustainable development of the Chinese energy industry. The results also provide a useful reference for foreign firms that intend to explore the Chinese energy industry market.

Investment efficiency of the new energy industry in China

This paper evaluates the investment efficiency of the new energy industry in China and investigates factors that explain variations in investment efficiency across firms and over time. Applying a four-stage semi-parametric DEA analysis framework to a sample of listed new energy firms over the period 2012–2015, we find that the overall investment efficiency of the new energy industry is relatively low, with an average total technical efficiency of 44%, pure technical efficiency of 48%, and scale efficiency of 90%. We also find that new energy firms' investment efficiency is affected by both macroeconomic conditions and firm-specific characteristics. Our results are robust and have significant implications for policy makers and firm managers.

China's rise: Challenging the North-South technology transfer paradigm for climate change mitigation and low carbon energy

Historically, technology transfer from the global North to China played a large role in renewable energy pathways in China, particularly for wind energy, partly also for solar energy. Yet, the rise of China and other emerging economies means a shift away from a reliance on technology transfer and production capabilities to strengthening indigenous innovation capabilities. Drawing on evidence from the hydropower, solar and wind energy industry in China, the paper introduces the concept of ‘geographies of technology transfer and cooperation’ and challenges the North-South technology transfer and cooperation paradigm for low carbon innovation and climate change mitigation. The empirical evidence shows that for low carbon innovation, the conception that China is lacking behind in innovation capabilities is partly outdated. Instead, there is an increase in indigenous innovation capabilities, resulting in South-South technology transfer and cooperation as well as elements of ‘reverse’ South-North technology cooperation.

CGE MODEL OF CHINA�S WIND POWER INDUSTRY AND SITUATIONAL SIMULATION RESEARCH

ABSTRACT In this paper, we analyzed the development of the wind energy industry in China, and we constructed the CGE model for the country’s wind power industry. We used the CES production function and trade function to describe the demand and distribution of the country’s production and product. We used the GAMS software to analyze the impact of wind power policies on the wind power industry and social economy. We also constructed a static CGE-LHR model for the purpose of this research. We obtained the results of our simulation using the CGE model on the effect of energy taxes and subsidies on the development of the wind power industry. We gave our recommendations for the future development of the country’s wind power industry at the end of our paper. Keywords wind power industry; CGE model; wind power subsidies; situational simulation

Export injury early warning of the new energy industries in China

PurposeIn recent years, continuous expansion of the scale of the new energy export industry in China caused a boycott of American and European countries. Export injury early warning research is an urgent task to develop the new energy industry in China. The purpose of this paper is to build an indicator system of exports injury early warning of the new energy industry in China and corresponding quantitative early warning models.Design/methodology/approachIn consideration of the actual condition of the new energy industry in China, this paper establishes an indicator system according to four aspects: export price, export quantity, impact on domestic industry and impact on macro economy. Based on the actual data of new energy industry and its five sub-industries (solar, wind, nuclear power, smart grid and biomass) in China from 2003 to 2013, GM (1,1) model is used to predict early warning index values for 2014-2018. Then, the principal component analysis (PCA) is used to obtain the comprehensive early warning index values for 2003-2018. The 3-sigma principle is used to divide the early warning intervals according to the comprehensive early warning index values for 2003-2018 and their standard deviation. Finally, this paper determines alarm degrees for 2003-2018.FindingsOverall export condition of the new energy industry in China is a process from cold to normal in 2003-2013, and the forecast result shows that it will be normal from 2014 to 2018. The export condition of the solar energy industry experienced a warming process, tended to be normal, and the forecast result shows that it will also be normal in 2014-2018. The biomass and other new energy industries and nuclear power industry show a similar development process. Export condition of the wind energy industry is relatively unstable, and it will be partially hot in 2014-2018, according to the forecast result. As for the smart grid industry, the overall export condition of it is normal, but it is also unstable, in few years it will be partially hot or partially cold. The forecast result shows that in 2014-2018, it will maintain the normal state. In general, there is a rapid progress in the export competitiveness of the new energy industry in China in the recent decade.Practical implicationsExport injury early warning research of the new energy industry can help new energy companies to take appropriate measures to reduce trade losses in advance. It can also help the relevant government departments to adjust industrial policies and optimize the new energy industry structure.Originality/valueThis paper constructs an index system that can measure the alarm degrees of the new energy industry. By combining the GM (1,1) model and the PCA method, the problem of warning condition detection under small sample data sets is solved.

Comprehensive Evaluation Method Research of New Energy Venture Investment Project

The government has issued a series of policies to support the development of new energy, but the investment of new energy still has some risk. The evaluation of venture investment project has great significance for reducing risk and increasing return. By referencing some scholars’ research, this author established a new energy index system of venture investment project, and then evaluated the value of new energy projects by combining the net present value method with multi-stage trigeminal tree real options method. Hope it can do some help for the development of new energy industry in China.

Field survey analysis of the public's cognition on the new energy industry in China

The public enjoy an important role in the development of China's new energy industry. However, the role has not attracted sufficient attention. By the way of field investigation, the paper acquired the first hand data of the public cognition on the China's new energy industry. Survey data showed that the public enjoyed awareness of China's new energy industry to some extent. And the public had optimistic expectations on the future development of new energy industry. Moreover, there were obvious differences in the degree of public's familiarity with different new energy varieties. The education level and age of the individual public had a significant impact on his awareness of China's new energy industry. To raise public participation in China's new energy industry, it entailed highlighting the status of the public in China's new energy industry, increasing the publicity of the new energy industry with different measures for different types of public group.

Using a hybrid heating system to increase the biogas production of household digesters in cold areas of China: An experimental study

In rural areas of China, household-scaled biogas digester plays an important role in improving rural production and living conditions, impelling energy conservation and emission reduction, and thus protecting the environment. To date, household digester has become the largest biomass energy industry in China. However, when operating in the cold winter, low slurry temperature of the digester often results in a relatively low efficiency or even a suspension in the fermentation process. This paper proposes a hybrid heating system which integrates the advantages of solar energy heating system and biogas boiler heating system, as a solution. An experimental setup including three digesters was built to investigate the performance of the heating system. Continuous tests on the operational status of the three digesters were conducted, and the slurry temperatures and the biogas production rates were compared. Results show that, employing the hybrid heating system, the slurry temperatures of the two heated digesters could be maintained around 19.82°C and 23.50°C, and the average production rate could be increased to 0.389m3/(m−3d) and 0.472m3/(m−3d). Additionally, an economic and sensitivity analysis shows that yet the increased the initial and maintenance cost notwithstanding, the hybrid system benefits greatly from more net production of biogas during lifetime employment.

Effects of energy price fluctuations on industries with energy inputs: An application to China

This article captures the effects of energy price fluctuations on the demand and supply of energy. By focusing on the industries that depend on energy inputs, we are able to apply these effects and analyze the Chinese energy industry. Four main sets of results are presented. First, rising energy prices reduce output and social welfare. Second, the energy industry in China has a vertical market structure, which acts as an amplifier of energy price fluctuations that increase with market power of energy firms. Third, environmental objectives can be achieved through energy price regulation, thereby weakening the market power of energy firms. Interestingly, the formula of price regulation needed to achieve the environmental objectives is given. Finally, entry-level regulation can reduce emissions. In summary, this article supports the concept of energy industry regulation by decision-makers.

Generating Behavior in the University-Industry Collaboration Network: Based on the Configuration of Motifs

AbstractUniversity-industry collaboration networks consist of heterogeneous subjects; in fact, the interactions among these subjects lead to the emergence of the complex characteristics of university-industry collaboration networks and even to the emergence of the networks themselves. Thus, understanding the behavior that generates university-industry collaboration networks is essential to their construction and optimization. To more fully comprehend this generating behavior, we considered a university-industry collaboration network in the ocean energy industry in China as a case study. Employing the motif analysis method, we analyze the network’s generating behavior from four perspectives: motif characteristics, motif classification, motif combination and motif clustering. Furthermore, we explore agents’ modes of adaptive collaboration — and the causes of such collaborations — and summarize the characteristics and modes of networks’ generating behavior. The results indicate that universities and industries tend to form highly stable and close cooperative relationships. The constraints of the network’s generating behavior — which influences the subjects’ interactions through relational and structural embeddedness — include asymmetric information, resource and cost constraints, risk aversion and geographical constraints. Our research presents the benefits of using the motif analysis method to study the network’s generating behavior and its implications in constructing and optimizing a university-industry collaboration network.

Renewable Energy in China

China is the most densely populated country in the world with high rate of economic growth resulting in higher demand for energy resources and in strive to guarantee stable supply of these resources. Chinese annual GDP growth in 2012 and 2013 was down to 7.7% comparing to 10% in 2000-2011 [7]. In 2012 and 2013 economic growth stumbled because of slowdown in manufacturing and exports, taking into account that Chinese government was eager to cut inflation and excessive investments in some segments of the market. Speaking about energy sector Chinese government is aimed at promotion of market-based pricing systems, activities for advanced energy efficiency and higher competition between energy companies, and increased investment in renewable energy resources. Considering renewables as one of many ways to diversify energy supplies, lower dependence on coal and improve environmental situation Chinese government actively supports and develops programs aimed at support of renewable energy industry in China. Chinese economic development is tightly attached to five-year plans. It seems important to mention the fact that main energy goals for current 12-th "five-year plan" are to achieve 15% renewables consumption and CO2 sequestration up to 40-45% by2020 in order to lower dependency on coal and improve environmental situation. As a result of Chinese state policy to develop renewables China achieved certain results in wind energy, helioenergetics, hydroenergetics and energy from waste recycling.