Carbon finance and the carbon market in China

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The cost and benefit of banking regulations and controls, Chinese style

The neoclassical approach focuses its attention on the prudence of individual banks. In its objective of achieving allocative efficiency, it seeks to prevent market failures caused by the operations of the banks. In this light, it is contended that China should further its market reforms in the direction of fostering the profit maximization cum risk minimization pursuit of individual banks. Meanwhile, the Keynesian-Schumpeterian-Minskyan approach focuses its attention on coping with systemic fragility. And systemic fragility is seen as endemic to the interaction between credit expansion and contraction, productive investment, and business profitability. In this light, even if it is indeed allocatively inefficient, Chinese finance can still have its advantages in terms of promoting productive efficiency

A wall interference assessment/correction system

A Wall Signature method, the Hackett method, has been selected to be adapted for the 12-ft Wind Tunnel wall interference assessment/correction (WIAC) system in the present phase. This method uses limited measurements of the static pressure at the wall, in conjunction with the solid wall boundary condition, to determine the strength and distribution of singularities representing the test article. The singularities are used in turn for estimating wall interferences at the model location. The Wall Signature method will be formulated for application to the unique geometry of the 12-ft Tunnel. The development and implementation of a working prototype will be completed, delivered and documented with a software manual. The WIAC code will be validated by conducting numerically simulated experiments rather than actual wind tunnel experiments. The simulations will be used to generate both free-air and confined wind-tunnel flow fields for each of the test articles over a range of test configurations. Specifically, the pressure signature at the test section wall will be computed for the tunnel case to provide the simulated 'measured' data. These data will serve as the input for the WIAC method-Wall Signature method. The performance of the WIAC method then may be evaluated by comparing the corrected parameters with those for the free-air simulation. Each set of wind tunnel/test article numerical simulations provides data to validate the WIAC method. A numerical wind tunnel test simulation is initiated to validate the WIAC methods developed in the project. In the present reported period, the blockage correction has been developed and implemented for a rectangular tunnel as well as the 12-ft Pressure Tunnel. An improved wall interference assessment and correction method for three-dimensional wind tunnel testing is presented in the appendix

Phase-Remapping Attack in Practical Quantum Key Distribution Systems

Quantum key distribution (QKD) can be used to generate secret keys between two distant parties. Even though QKD has been proven unconditionally secure against eavesdroppers with unlimited computation power, practical implementations of QKD may contain loopholes that may lead to the generated secret keys being compromised. In this paper, we propose a phase-remapping attack targeting two practical bidirectional QKD systems (the "plug & play" system and the Sagnac system). We showed that if the users of the systems are unaware of our attack, the final key shared between them can be compromised in some situations. Specifically, we showed that, in the case of the Bennett-Brassard 1984 (BB84) protocol with ideal single-photon sources, when the quantum bit error rate (QBER) is between 14.6% and 20%, our attack renders the final key insecure, whereas the same range of QBER values has been proved secure if the two users are unaware of our attack; also, we demonstrated three situations with realistic devices where positive key rates are obtained without the consideration of Trojan horse attacks but in fact no key can be distilled. We remark that our attack is feasible with only current technology. Therefore, it is very important to be aware of our attack in order to ensure absolute security. In finding our attack, we minimize the QBER over individual measurements described by a general POVM, which has some similarity with the standard quantum state discrimination problem.Comment: 13 pages, 8 figure

Using patterns position distribution for software failure detection

Pattern-based software failure detection is an important topic of research in recent years. In this method, a set of patterns from program execution traces are extracted, and represented as features, while their occurrence frequencies are treated as the corresponding feature values. But this conventional method has its limitation due to ignore the pattern’s position information, which is important for the classification of program traces. Patterns occurs in the different positions of the trace are likely to represent different meanings. In this paper, we present a novel approach for using pattern’s position distribution as features to detect software failure. The comparative experiments in both artificial and real datasets show the effectiveness of this method

Magnetic field controlled reversal of ferroelectric polarization in conical spin ordered multiferroics : Monte Carlo simulation

Author name used in this publication: 姚晓燕Author name used in this publication: 羅永祥Author name used in this publication: 刘俊明2009-2010 > Academic research: refereed > Publication in refereed journalVersion of RecordPublishe

Monte Carlo simulation on ferroelectric response to magnetic field in an elastic lsing spin chain

Author name used in this publication: 姚晓燕Author name used in this publication: Veng Cheong Lo, 羅永祥Author name used in this publication: 刘俊明2009-2010 > Academic research: refereed > Publication in refereed journalVersion of RecordPublishe

Magnetoelectric coupling induced by exchange striction in frustrated Ising spin chain : Monte Carlo simulation

Author name used in this publication: Veng Cheong Lo2008-2009 > Academic research: refereed > Publication in refereed journalVersion of RecordPublishe

Security Analysis of an Untrusted Source for Quantum Key Distribution: Passive Approach

We present a passive approach to the security analysis of quantum key distribution (QKD) with an untrusted source. A complete proof of its unconditional security is also presented. This scheme has significant advantages in real-life implementations as it does not require fast optical switching or a quantum random number generator. The essential idea is to use a beam splitter to split each input pulse. We show that we can characterize the source using a cross-estimate technique without active routing of each pulse. We have derived analytical expressions for the passive estimation scheme. Moreover, using simulations, we have considered four real-life imperfections: Additional loss introduced by the "plug & play" structure, inefficiency of the intensity monitor, noise of the intensity monitor, and statistical fluctuation introduced by finite data size. Our simulation results show that the passive estimate of an untrusted source remains useful in practice, despite these four imperfections. Also, we have performed preliminary experiments, confirming the utility of our proposal in real-life applications. Our proposal makes it possible to implement the "plug & play" QKD with the security guaranteed, while keeping the implementation practical.Comment: 35 pages, 19 figures. Published Versio