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Jacqueline Nivard

Regional total factor energy efficiency: An empirical analysis of industrial sector in ... - 0 views

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    The rapid growth of the Chinese economy has resulted in great pressure on energy consumption, especially the energy intensive sector - the industrial sector. To achieve sustainable development, China has to consider how to promote energy efficiency to meet the demand of Chinese rapid economic growth, as the energy efficiency of China is relatively low. Meanwhile, the appeal of energy saving and emission reduction has been made by the Chinese central government. Therefore, it is important to evaluate the energy efficiency of industrial sector in China and to assess efficiency development probabilities. The framework of total factor energy efficiency index is adopted to determine the discrepancy of energy efficiency in Chinese industrial sector based on the provincial statistical data of industrial enterprises above designated size in 30 provinces from 2005 to 2009, with gross industrial output as the output value and energy consumption, average remaining balance of capital assets and average amount of working force as the input values. Besides, in considerate of the regional divide of China, namely eastern, central, and western, and economic development differences in each region, energy efficiency of each region is also analysed in this paper. The results show that there is room for China to improve its energy efficiency, especially western provinces which have large amount of energy input excess. Generally speaking, insufficient technological investment and fail of reaching best scale of manufacture are two factors preventing China from energy efficiency promotion. Based on our findings, some policy implications on the improvement of energy efficiency, particularly for economically underdeveloped regions in China, are also discussed.
Monique Abud

Rural residential properties in China: Land use patterns, efficiency and prospects for ... - 0 views

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    Thématique n° 2 [ScienceDirect, via Biblio-SHS] Auteur : Hui Wang, Lanlan Wang, Fubing Su, Ran Tao Paru dans : Habitat International, Volume 36, Issue 2, April 2012, Pages 201-209 Abstract Rural residential land represents one of the most important land use types in China. However, the literature so far has paid insufficient attention to the patterns and efficiencies of this type of land use. To fill in this gap, this paper uses a national survey to analyze the institutional setups for rural residential land use, to assess the effectiveness of existing regulations, and to evaluate the efficiencies in rural residential land use. Farmers' subjective receptiveness toward rural residential property regulation reform is also investigated. We find that rural residential properties are inefficiently utilized under the existing land use regulations, that those who are younger and who had previous migration experiences are more likely to support the free trading of rural residential properties while the village cadres are more likely to oppose it. A coordinated policy reform package that includes free trading of rural residential properties and Household Registration System to facilitate permanent migration out of the countryside is proposed to address the existing efficiencies in China's rural residential land use. Highlights ► Rural residential land is an important land use type in China. ► Under existing regulations rural residential land is inefficiently used. ► A coordinated land-Hukou reform package is needed to address the inefficiency.
Monique Abud

Does the Chinese market for urban land use rights meet good governance principles? - 0 views

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    [ScienceDirect, via Biblio-SHS] Auteur : Nesru H. Koroso, Paul van der Molen, Arbind. M. Tuladhar, Jaap A. Zevenbergen Paru dans : Land Use Policy, Volume 30, Issue 1, January 2013, Pages 417-426 Abstract This research investigates whether the process of transfers of urban land use rights in China, particularly where the state plays a major role in the transfer of urban land, complies with basic principles of good governance. In order to assess market, an assessment framework is developed. A critical analysis of secondary data from official and non-official sources is done. Major changes since late 1980s in the institutional environment and subsequent results have been assessed. The findings reveal that the transfer of urban land use rights in China is gradually responding to an improved governance system. Institutional reforms have led to a steady improvement in indicators such as transparency, efficiency, and access to information. Nonetheless, the market has significant weaknesses in addressing equity issues, engaging stakeholders, tackling corruption and dealing with expropriations. In general, the paper finds that the efficiency and effectiveness of the urban land market largely depends not on the type of tenure regime per sé, but rather on the system of governance in place. Highlights ► Based on existing data sources, this paper analyses the performance of the market for urban land use rights in China. ► The assessment framework is based on governance principles like equity, participation, access to information, efficiency, and transparency. ► The result is that the market needs improvements regarding governance principles. ► However, a positive impact of the efforts of the government to improve can be observed.
Monique Abud

Land-use changes and policy dimension driving forces in China: Present, trend and future - 1 views

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    DOI: http://dx.doi.org.gate3.inist.fr/10.1016/j.landusepol.2011.11.010 [ScienceDirect, via Biblio-SHS] Auteur : Jing Wang et al. Paru dans : Land Use Policy, Volume 29, Issue 4, October 2012, Pages 737-749 Abstract China has extremely scarce land resources compared to the world average. There is an urgent need for studies of the current situation and the trends in land-use change and assessment of the performance of land policies in China. Assessment of land-use change has long been hindered by a lack of accurate and reliable data. This paper uses the data obtained from the national land surveys of 1996 and land-use change surveys from 1997 to 2008, to analyze changes in land use and the policy dimension driving forces related to the changes, especially cultivated land, forestry land, grassland, as well as developed land. The aim of this analysis will be to derive the physical, social and economical driving forces of those changes to grasp the trends in land-use change and the effects of land policies and to formulate strategies for the protection and sustainable use of agricultural land. The results indicate that, although the overall change in land use was not large, cultivated land was significantly reduced and developed land rapidly increased. A great deal of high quality cultivated land was changed to developed land and low quality cultivated land generated from unused land, which has resulted in a serious threat to food supplies in China. Predictions using the methods of linear extrapolation and a BP neural network indicate that it is impossible to keep to a target of 0.12 billion hectares of cultivated land in the future under the mode of economic development used between 1996 and 2008. The results also indicate that the implementation of the laws and regulations about controlling the developed land and preserving cultivated land had significant effects on changes in land use, especially cultivated land and developed land. The results sugges
Monique Abud

Implementation Performance Evaluation on Land Use Planning: A Case of Chengdu, China - 0 views

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    Authors: HE Ge[a] ; ZHANG Ning[a] [a] College of Economics and Management, Sichuan Agricultural University, Chengdu 611130, China. Published in: Cross-Cultural Communication Vol. 8, No. 4, 2012, pp. 34-38 Abstract This paper aims at evaluating implementation performance of land use planning of Chengdu city from economy, efficiency, effectiveness and equity perspectives. The results shows that that over the period of 1997-2006, the land use planning of Chengdu city achieves a better implementation performance in economy, efficiency and effectiveness fields but in the equity fields is not so good. Then the paper proposes some policy recommendations to improve the land use planning.
Jacqueline Nivard

Effects of One-Sided Fiscal Decentralization on Environmental Efficiency of Chinese Pro... - 0 views

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    Hang Xiong, China's actual fiscal decentralization is one-sided: while public expenditures are largely decentralized, fiscal revenues are recentralized after 1994. One critical consequence of the actual system is the creation of significant fiscal imbalances at sub-national level. This paper investigates empirically effects of fiscal imbalances on environmental performance of Chinese provinces. First, environmental efficiency scores of Chinese provinces are calculated with SFA for the period from 2005 to 2010. Then, these scores are regressed against two fiscal imbalance indicators in a second stage model. Finally, conditional EE scores are calculated. This paper finds that effects of fiscal imbalances on EE are nonlinear and conditional on economic development level. Fiscal imbalances are more detrimental to environment in less developed provinces. These results suggest that the one-sided fiscal decentralization in China may have regressive environmental effects and contribute to regional disparity in terms of sustainable development.
Monique Abud

Urbanization strategies, rural development and land use changes in China: A multiple-le... - 0 views

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    Abstract This paper links urbanization strategies to changes in land use and associated impacts on rural communities and agro-ecosystems in a rural area of China. Energy, monetary and human time variables as well as information on environmental pressures, have been combined to compare different typologies of households and the metabolism of different patterns of land use from an integrated perspective. The results show that urbanization strategies, aimed at shifting the current land use and at displacing the local population, while increasing the economic efficiency is also associated with an increase in fossil energy consumption and environmental pressure, as well as a reduction of the multifunctional characteristic of the area under investigation. Based on these findings the paper also offers a critical discussion of the Chinese rural development policy arguing that the multifunctionality of rural areas should be taken into account by Chinese policy-makers and planners as a viable strategy to achieve rural development targets. Highlights ► Urbanization strategies in China drive the land use change of rural areas. ► Forced migration decreases rural food self-sufficiency and diversification of risk. ► HEPA patterns have higher economic efficiency and energy intensity than LEPA. ► Rural-urban migrations favor the creation of mono-functional agricultural systems.
Monique Abud

Exploring the Urbanization Pattern of "Low Carbon and Efficiency Implied Mutually" - 1 views

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    Abstract The large cities such as London, New York and Shanghai are tended to create lots of employment opportunities, but per capita carbon emissions are huge. It is a vital problem about how to provide enough employment opportunities and reduce per capita carbon emissions during the process of urbanization in China. The main of this article think "the Zipf-type city system in area "can achieve the goal of "efficiency and low carbine".
Monique Abud

Transportation development transition in China - 0 views

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    Scientific development is an invaluable asset to a country. Policies and development modes should be carried out based on scientific findings not only in industry, but also in transportation infrastructure construction. Building an integrated transportation system, which is in line with the national requirements of China and supports sustainable socio-economic development, is a key strategic issue related to building a moderately prosperous society and achieving realistic goals of a medium-level developed country. Based on a systematic review of the advances in China's transportation infrastructure over the last 60 years, this paper explores the main drivers of transportation development, including national policy, transportation structure, investment efficiency, and technological innovation. Analysis shows that China's comprehensive transportation infrastructure construction since 1949 can be divided into five stages initiated by these drivers, which correspond to four transition modes: policy transition, structural transition, efficiency transition, and technology transition. The transition path of China's transportation development shows that the dominant factors have changed, and the interval for each transition has shortened. With the implementation of the '12th Five-Year Plan', China's transportation infrastructure construction is showing some new characteristics and facing a new development transition. Finally, this paper analyzes the trends in transportation development in China and concludes that technological innovation will be the main driving force to increase the transportation supply and service area in the future.
Monique Abud

Urbanization strategies, rural development and land use changes in China: A multiple-le... - 0 views

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    [ScienceDirect, via Biblio-SHS] Auteur : Giuseppina Siciliano, Institute of Environmental Science and Technology, Autonomous University of Barcelona, 08193 Bellaterra, Barcelona, Spain / University IUAV of Venice, Ca' Tron, Santa Croce 1957, 30135 Venezia, Italy Paru dans : Land Use Policy Volume 29, Issue 1, January 2012, Pages 165-178 Abstract This paper links urbanization strategies to changes in land use and associated impacts on rural communities and agro-ecosystems in a rural area of China. Energy, monetary and human time variables as well as information on environmental pressures, have been combined to compare different typologies of households and the metabolism of different patterns of land use from an integrated perspective. The results show that urbanization strategies, aimed at shifting the current land use and at displacing the local population, while increasing the economic efficiency is also associated with an increase in fossil energy consumption and environmental pressure, as well as a reduction of the multifunctional characteristic of the area under investigation. Based on these findings the paper also offers a critical discussion of the Chinese rural development policy arguing that the multifunctionality of rural areas should be taken into account by Chinese policy-makers and planners as a viable strategy to achieve rural development targets. Highlights ► Urbanization strategies in China drive the land use change of rural areas. ► Forced migration decreases rural food self-sufficiency and diversification of risk. ► HEPA patterns have higher economic efficiency and energy intensity than LEPA. ► Rural-urban migrations favor the creation of mono-functional agricultural systems.
Monique Abud

The nascent market for "green" real estate in Beijing - 0 views

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    DOI : http://dx.doi.org.gate3.inist.fr/10.1016/j.euroecorev.2012.02.012 [ScienceDirect, via Biblio-SHS] Auteur : Siqi Zheng (Tsinghua University, China), Jing Wu (University of California at Los Angeles), Matthew E. Kahn (National Bureau of Economic Research (NBER), USA), Yongheng Deng (National University of Singapore, Singapore) Paru dans : European Economic Review Volume 56, Issue 5, July 2012, Pages 974-984, "Green Building, the Economy, and Public Policy" Abstract In recent years, formal certification programs for rating and evaluating the sustainability and energy efficiency of buildings have proliferated around the world. Developers recognize that such "green labels" differentiate products and allow them to charge a price premium. China has not formally adopted such rating standards. In the absence of such standards, developers are competing with each other based on their own self-reported indicators of their buildings' "greenness". We create an index using Google search to rank housing complexes in Beijing with respect to their "marketing greenness" and document that these "green" units sell for a price premium at the presale stage but they subsequently resell or rent for a price discount. An introduction of a standardized official certification program would help "green" demanders to acquire units that they desire and would accelerate the advance of China's nascent green real estate market. Highlights ► China has not formally adopted rating standards for "green" buildings. ► We create a Google index to rank "marketing greenness" of housing complexes in Beijing. ► Developers charge a price premium for self-reported buildings' "greenness" during presale. ► These "green" premiums disappear in the subsequent resells and the rental market. ► A standardized certification program would advance China's nascent green real estate market.
Jacqueline Nivard

Redevelopment of development zones: The smart growth of cities in China - 0 views

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    Development zones are the important carriers of China's promoting industrialization and attracting international investment in the past 30 years and act as the primary means of city expansion. In this article, we analyse the low efficiency of land use problem existing in China's current development zones. Comparing with the general old city update phenomenon, we make a detailed illustration on the feasibility and comparative advantage of redevelopment of development zones. On this basis, combining with the investigation practice, we propose the basic redevelopment models of development zones and analyse the typical redevelopment cases of development zones in Xi'an, Shanghai, Changzhou, Hangzhou and Nanjing.
Jacqueline Nivard

Gas-on-gas competition in Shanghai - 0 views

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    In common with other major economic centres in China, Shanghai's energy consumption has been increasing rapidly to support the high growth rate of its economy. To achieve rational, efficient and clean use of energy, together with improved environmental quality within the city, the Shanghai municipal government has decided to expand the supply and utilization of natural gas. Shanghai plans to increase the share of natural gas in its primary energy mix to 7 per cent by 2010, up from 3 per cent in 2005. This increase in natural gas demand has to be matched with a corresponding increase in supply. To date, the Shanghai region has relied on offshore extracted natural gas but this supply is limited due to the size of the reserves. Since 2005, the West-East pipeline has provided an alternative for Shanghai but demands from other regions could reduce the potential for expanding supplies from that source. Since domestic production will not be sufficient to meet demand in the near future, Shanghai is building a liquefied natural gas (LNG) regasification terminal at the Yangshan deep-water port that would allow an additional supply of more than 3 billion cubic meters per year of natural gas. Malaysia has already committed to supply LNG to the Shanghai terminal at a price that is significantly higher than the wholesale "city-gate" price for natural gas transported via pipeline, but still lower than the gas price to end-use consumers. The presence of both an LNG terminal and a transmission pipeline that connects Shanghai to domestic gas-producing regions will create gas-on-gas competition. This study assesses the benefits of introducing such competition to one of China's most advanced cities under various scenarios for demand growth. In this paper, the impact of imported LNG on market concentration in Shanghai's gas market will be analysed using the Herfindahl-Hirschmann index (HHI) and the residual supply index (RSI). Our results show that Shanghai remains a supply-constrained
Monique Abud

Building Sustainable Transport Systems in Chinese Cities - 0 views

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    Feature Story August 14, 2012 The year 2011 was a historic moment in the urbanization of China, as its urban population exceeded its rural population for the first time. About 350 million new urban residents are expected to migrate to cities over the coming 20 years. Urban development on such a scale is both a challenge and an opportunity for urban transport. A challenge, as current trends are unsustainable both at local and national level. Locally, the rapid growth in car ownership has enabled greater personal mobility for many but has also brought traffic congestion, accidents, and air pollution. Slow and congested transport systems are beginning to stifle the efficiency of the urban economy. The construction of new roads to accommodate traffic leads to urban sprawl and accelerated traffic growth and hampers the mobility of those who do not own a car. Nationally, excessive conversion of farmland for urban development consumes scarce land resources and impacts the country's ecological systems. Rising fuel consumption also endangers the nation's long-term energy security, while growing emissions from urban transport render the national objectives of CO2 reduction difficult to achieve. But this rapid urbanization also represents an opportunity, as the recognition of urban transport's spillover effects has led to a new policy emphasis on public transport priority and sustainable urban transport development. [...]
Jacqueline Nivard

Low-Carbon Development Patterns: Observations of Typical Chinese Cities - 0 views

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    Abstract: Threatened by the huge pressure caused by climate change, low-carbon cities have become an inevitable part of urban evolution. It is essential to evaluate urban low-carbon development levels to smoothly promote the construction of low-carbon cities. This paper proposes an evaluation index system for urban low-carbon development from the points of view of economic development and social progress, energy structure and usage efficiency, living consumption, and development surroundings. A weighted sum model was also established. Selecting 12 typical Chinese cities as cases studies, an integrated evaluation was conducted based on the index system and the assessment model. The development speed and limiting factors of different cities were also analyzed. The 12 cities were ultimately classified into three groups in terms of their low-carbon development patterns by integrating all of the analysis results. Furthermore, suitable regulation and management for different patterns were suggested. This study both aids in assessing the executive effect of low-carbon city construction and helps to determine existing problems and suggest effective solutions.
Monique Abud

Can rapid urbanisation ever lead to low carbon cities? The case of Shanghai in comparis... - 1 views

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    Abstract In 2011, China announced that it has reached an urbanisation rate of 50%. If we take rapid urbanisation as a given and that it is already well underway, it is still widely unclear what research needs to be conducted and policy changes made to support municipalities of fast transforming cities and to avoid repeating the development mistakes that have occurred in industrialised nations, i.e. driving urban growth with high consumption patterns without fully considering the environmental and social needs and occupants' behaviour and aspirations. The scale and pace of change requires a solid systems approach of urban development. The purpose of this paper is to explore the rapid urbanisation of Chinese cities with a focus on the plans for a new, on-going urban sub-centre in the north-west of Shanghai: Zhenru urban sub-centre. Information-rich urbanisation is a defining feature of the 21st century, reshaping cities and communities in China and in developing countries around the world. The paper compares two cases of urban development patterns for new sub-centres for polycentric city structures: it relates to new urban sub-centres in Berlin (Germany) and Shanghai (China), and the relationship of these sub-centres to 'Network City' theory. Network theory is useful in this context as the 'network' metaphor and concepts of decentralisation seem to have replaced the 'machine' metaphor which was based on efficiency based on the availability of cheap fossil fuels. The question to be addressed is how Chinese cities can be better steered towards more sustainable models of development. As cities aim to move towards more resilient urban ecosystems and polycentric systems, the case of Potsdamer Platz Berlin, compared to Zhenru sub-centre in Shanghai, is discussed. Both are transport-oriented developments promoting mixed-use density and less car-dependency. According to documentation of the Shanghai municipality, Zhenru urban centre, which is currently
Monique Abud

Low-to-no carbon city: Lessons from western urban projects for the rapid transformation... - 0 views

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    [ScienceDirect, via Biblio-SHS] Auteur : Steffen Lehmann Paru dans : Habitat International, Available online 4 January 2012 Abstract The purpose of this paper is to explore the rapid urbanization of Chinese cities with a focus on the plans for a new, ongoing urban sub-centre in the north-west of Shanghai: Zhenru Urban Sub-Centre. Information-rich urbanization is a defining feature of the 21st century, reshaping cities and communities in China and in developing countries around the world. The scale and pace of change requires a solid systems approach of urban development. In 2011, China announced that it has reached an urbanization rate of 50%. If we take rapid urbanization as a given and that it is already well underway, it is still widely unclear what research needs to be conducted and policy changes made to support municipalities of fast transforming cities and to avoid repeating the development mistakes that have occurred in industrialized nations, i.e. driving urban growth with high consumption patterns without fully considering the environmental and social needs and occupants' behaviour and aspirations. This paper compares two cases of urban development patterns for new sub-centres for polycentric city structures: It relates to new urban sub-centres in Berlin (Germany) and Shanghai (China), and the relationship of these sub-centres to 'Network City' theory. Network theory is useful in this context as the 'network' metaphor and concepts of decentralization seem to have replaced the 'machine' metaphor which was based on efficiency based on the availability of cheap fossil fuels. As cities aim to move towards more resilient urban ecosystems and polycentric systems, the case of Potsdamer Platz Berlin, compared to Zhenru Sub-Centre in Shanghai, is discussed. Both are transport-oriented developments promoting mixed-use density and less car-dependency. According to documentation of the Shanghai municipality, Zhenru urban centre, which is cur
Monique Abud

Can rapid urbanisation ever lead to low carbon cities? The case of Shanghai in comparis... - 0 views

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    [ScienceDirect, via Biblio-SHS] Auteur : Steffen Lehmann Paru dans : Sustainable Cities and Society, Volume 3, July 2012, Pages 1-12 Abstract In 2011, China announced that it has reached an urbanisation rate of 50%. If we take rapid urbanisation as a given and that it is already well underway, it is still widely unclear what research needs to be conducted and policy changes made to support municipalities of fast transforming cities and to avoid repeating the development mistakes that have occurred in industrialised nations, i.e. driving urban growth with high consumption patterns without fully considering the environmental and social needs and occupants' behaviour and aspirations. The scale and pace of change requires a solid systems approach of urban development. The purpose of this paper is to explore the rapid urbanisation of Chinese cities with a focus on the plans for a new, on-going urban sub-centre in the north-west of Shanghai: Zhenru urban sub-centre. Information-rich urbanisation is a defining feature of the 21st century, reshaping cities and communities in China and in developing countries around the world. The paper compares two cases of urban development patterns for new sub-centres for polycentric city structures: it relates to new urban sub-centres in Berlin (Germany) and Shanghai (China), and the relationship of these sub-centres to 'Network City' theory. Network theory is useful in this context as the 'network' metaphor and concepts of decentralisation seem to have replaced the 'machine' metaphor which was based on efficiency based on the availability of cheap fossil fuels. The question to be addressed is how Chinese cities can be better steered towards more sustainable models of development. As cities aim to move towards more resilient urban ecosystems and polycentric systems, the case of Potsdamer Platz Berlin, compared to Zhenru sub-centre in Shanghai, is discussed. Both are transport-oriented developments promoti
Monique Abud

Air quality management in China: Issues, challenges, and options - 0 views

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    [ScienceDirect, via Biblio-SHS] Auteur : Shuxiao Wang, Jiming Hao Paru dans : Journal of Environmental Sciences, Volume 24, Issue 1, January 2012, Pages 2-13 Abstract This article analyzed the control progress and current status of air quality, identified the major air pollution issues and challenges in future, proposed the long-term air pollution control targets, and suggested the options for better air quality in China. With the continuing growth of economy in the next 10-15 years, China will face a more severe situation of energy consumption, electricity generation and vehicle population leading to increase in multiple pollutant emissions. Controlling regional air pollution especially fine particles and ozone, as well as lowering carbon emissions from fossil fuel consumption will be a big challenge for the country. To protect public health and the eco-system, the ambient air quality in all Chinese cities shall attain the national ambient air quality standards (NAAQS) and ambient air quality guideline values set by the World Health Organization (WHO). To achieve the air quality targets, the emissions of SO2, NOx, PM10, and volatile organic compounds (VOC) should decrease by 60%, 40%, 50%, and 40%, respectively, on the basis of that in 2005. A comprehensive control policy focusing on multiple pollutants and emission sources at both the local and regional levels was proposed to mitigate the regional air pollution issue in China. The options include development of clean energy resources, promotion of clean and efficient coal use, enhancement of vehicle pollution control, implementation of synchronous control of multiple pollutants including SO2, NOx, VOC, and PM emissions, joint prevention and control of regional air pollution, and application of climate friendly air pollution control measures.
Monique Abud

Transport development in China - 0 views

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    [ScienceDirect, via Biblio-SHS] Auteur : Adolf K.Y. Ng, James J. Wang Paru dans : Research in Transportation Economics, Volume 35, Issue 1, Pages 1-66 (May 2012) Editorial 1. Introduction Globalization has brought China ever close to the rest of the world not only through its trade and transport networks, but also many transport-related issues that seem to be in common among other countries, while simultaneously with special causes deep-rooted from its unique pathway of development especially in the past several decades. The major fundamental difference of China's development from other countries lies in its economy in general, while the transport sector, in particular, lies in the role of the government. Indeed, since the global financial crisis in 2008, advanced economies, such as the US and several EU countries, have intensified on how to redefine and strengthen the role of the state within respective economies. On the contrary, the Chinese situation is exactly the other way round: the debate is about how to reduce interferences from the very strong hands of the government towards a real regulated market. In this respect, the transport sector typifies this ongoing marketization process. On one extreme, the mode of highway transportation is fully marketized: private investors may construct toll expressways in almost any provinces, either as joint ventures partnering with state-owned firms or just as fully private developers. On the other side of the continuum, after more than three decades of 'reforms', railway infrastructures, as well as their operation, are still fully and tightly controlled by the Ministry of Railways (MOR) through its subsidiary's monopoly. In-between the highways and railways are air and maritime transportation, both of which being characterized by oligopolies with two to three state-owned listed companies taking up more than 80% of the market share. Given such situation, there is a clear interest for further understanding and re
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