id	sid	tid	token	lemma	pos
fbem-2780	1	1	frontiers	frontier	NOUN
fbem-2780	1	2	in	in	ADP
fbem-2780	1	3	business	business	NOUN
fbem-2780	1	4	,	,	PUNCT
fbem-2780	1	5	economics	economic	NOUN
fbem-2780	1	6	and	and	CCONJ
fbem-2780	1	7	management	management	NOUN
fbem-2780	1	8	issn	issn	PROPN
fbem-2780	1	9	:	:	PUNCT
fbem-2780	1	10	2766	2766	NUM
fbem-2780	1	11	-	-	PUNCT
fbem-2780	1	12	824x	824x	NUM
fbem-2780	1	13	|	|	ADJ
fbem-2780	1	14	vol	vol	NOUN
fbem-2780	1	15	.	.	PROPN
fbem-2780	2	1	6	6	NUM
fbem-2780	2	2	,	,	PUNCT
fbem-2780	2	3	no	no	INTJ
fbem-2780	2	4	.	.	NOUN
fbem-2780	2	5	2	2	NUM
fbem-2780	2	6	,	,	PUNCT
fbem-2780	2	7	2022	2022	NUM
fbem-2780	2	8	61	61	NUM
fbem-2780	2	9	a	a	DET
fbem-2780	2	10	study	study	NOUN
fbem-2780	2	11	on	on	ADP
fbem-2780	2	12	the	the	DET
fbem-2780	2	13	impact	impact	NOUN
fbem-2780	2	14	of	of	ADP
fbem-2780	2	15	macro	macro	ADJ
fbem-2780	2	16	uncertainty	uncertainty	NOUN
fbem-2780	2	17	on	on	ADP
fbem-2780	2	18	the	the	DET
fbem-2780	2	19	volatility	volatility	NOUN
fbem-2780	2	20	of	of	ADP
fbem-2780	2	21	china	china	PROPN
fbem-2780	2	22	's	's	PART
fbem-2780	2	23	carbon	carbon	NOUN
fbem-2780	2	24	emissions	emission	NOUN
fbem-2780	2	25	trading	trading	NOUN
fbem-2780	2	26	market	market	NOUN
fbem-2780	2	27	-empirical	-empirical	ADJ
fbem-2780	2	28	analysis	analysis	NOUN
fbem-2780	2	29	based	base	VERB
fbem-2780	2	30	on	on	ADP
fbem-2780	2	31	garch	garch	NOUN
fbem-2780	2	32	-	-	PUNCT
fbem-2780	2	33	midas	midas	PROPN
fbem-2780	2	34	model	model	PROPN
fbem-2780	2	35	lilong	lilong	PROPN
fbem-2780	2	36	lv	lv	PROPN
fbem-2780	2	37	,	,	PUNCT
fbem-2780	2	38	huilin	huilin	PROPN
fbem-2780	2	39	jiang	jiang	PROPN
fbem-2780	2	40	,	,	PUNCT
fbem-2780	2	41	yongqiang	yongqiang	PROPN
fbem-2780	2	42	yang	yang	PROPN
fbem-2780	2	43	and	and	CCONJ
fbem-2780	2	44	siyao	siyao	PROPN
fbem-2780	2	45	chen	chen	PROPN
fbem-2780	2	46	school	school	PROPN
fbem-2780	2	47	of	of	ADP
fbem-2780	2	48	anhui	anhui	PROPN
fbem-2780	2	49	university	university	PROPN
fbem-2780	2	50	of	of	ADP
fbem-2780	2	51	finance	finance	NOUN
fbem-2780	2	52	and	and	CCONJ
fbem-2780	2	53	economics	economic	NOUN
fbem-2780	2	54	,	,	PUNCT
fbem-2780	2	55	bengbu	bengbu	NOUN
fbem-2780	2	56	,	,	PUNCT
fbem-2780	2	57	233000	233000	NUM
fbem-2780	2	58	,	,	PUNCT
fbem-2780	2	59	china	china	PROPN
fbem-2780	2	60	abstract	abstract	NOUN
fbem-2780	2	61	:	:	PUNCT
fbem-2780	2	62	this	this	DET
fbem-2780	2	63	paper	paper	NOUN
fbem-2780	2	64	selects	select	VERB
fbem-2780	2	65	three	three	NUM
fbem-2780	2	66	carbon	carbon	NOUN
fbem-2780	2	67	emissions	emission	NOUN
fbem-2780	2	68	trading	trading	NOUN
fbem-2780	2	69	prices	price	NOUN
fbem-2780	2	70	in	in	ADP
fbem-2780	2	71	tianjin	tianjin	PROPN
fbem-2780	2	72	,	,	PUNCT
fbem-2780	2	73	guangzhou	guangzhou	PROPN
fbem-2780	2	74	and	and	CCONJ
fbem-2780	2	75	hubei	hubei	PROPN
fbem-2780	2	76	for	for	ADP
fbem-2780	2	77	the	the	DET
fbem-2780	2	78	period	period	NOUN
fbem-2780	2	79	2019	2019	NUM
fbem-2780	2	80	-	-	SYM
fbem-2780	2	81	2021	2021	NUM
fbem-2780	2	82	as	as	ADP
fbem-2780	2	83	the	the	DET
fbem-2780	2	84	samples	sample	NOUN
fbem-2780	2	85	and	and	CCONJ
fbem-2780	2	86	conducts	conduct	VERB
fbem-2780	2	87	a	a	DET
fbem-2780	2	88	cross	cross	ADJ
fbem-2780	2	89	-	-	ADJ
fbem-2780	2	90	sectional	sectional	ADJ
fbem-2780	2	91	and	and	CCONJ
fbem-2780	2	92	longitudinal	longitudinal	ADJ
fbem-2780	2	93	analysis	analysis	NOUN
fbem-2780	2	94	of	of	ADP
fbem-2780	2	95	their	their	PRON
fbem-2780	2	96	volatility	volatility	NOUN
fbem-2780	2	97	.	.	PUNCT
fbem-2780	3	1	the	the	DET
fbem-2780	3	2	study	study	NOUN
fbem-2780	3	3	shows	show	VERB
fbem-2780	3	4	that	that	SCONJ
fbem-2780	3	5	:	:	PUNCT
fbem-2780	3	6	(	(	PUNCT
fbem-2780	3	7	1	1	X
fbem-2780	3	8	)	)	PUNCT
fbem-2780	3	9	the	the	DET
fbem-2780	3	10	price	price	NOUN
fbem-2780	3	11	volatility	volatility	NOUN
fbem-2780	3	12	and	and	CCONJ
fbem-2780	3	13	price	price	NOUN
fbem-2780	3	14	level	level	NOUN
fbem-2780	3	15	of	of	ADP
fbem-2780	3	16	carbon	carbon	NOUN
fbem-2780	3	17	market	market	NOUN
fbem-2780	3	18	in	in	ADP
fbem-2780	3	19	the	the	DET
fbem-2780	3	20	three	three	NUM
fbem-2780	3	21	places	place	NOUN
fbem-2780	3	22	differ	differ	VERB
fbem-2780	3	23	significantly	significantly	ADV
fbem-2780	3	24	,	,	PUNCT
fbem-2780	3	25	and	and	CCONJ
fbem-2780	3	26	the	the	DET
fbem-2780	3	27	difference	difference	NOUN
fbem-2780	3	28	between	between	ADP
fbem-2780	3	29	the	the	DET
fbem-2780	3	30	highest	high	ADJ
fbem-2780	3	31	and	and	CCONJ
fbem-2780	3	32	lowest	low	ADJ
fbem-2780	3	33	price	price	NOUN
fbem-2780	3	34	is	be	AUX
fbem-2780	3	35	significant	significant	ADJ
fbem-2780	3	36	;	;	PUNCT
fbem-2780	3	37	(	(	PUNCT
fbem-2780	3	38	2	2	X
fbem-2780	3	39	)	)	PUNCT
fbem-2780	3	40	the	the	DET
fbem-2780	3	41	standard	standard	ADJ
fbem-2780	3	42	deviation	deviation	NOUN
fbem-2780	3	43	of	of	ADP
fbem-2780	3	44	the	the	DET
fbem-2780	3	45	logarithmic	logarithmic	ADJ
fbem-2780	3	46	return	return	NOUN
fbem-2780	3	47	of	of	ADP
fbem-2780	3	48	carbon	carbon	NOUN
fbem-2780	3	49	trading	trading	NOUN
fbem-2780	3	50	pilot	pilot	NOUN
fbem-2780	3	51	in	in	ADP
fbem-2780	3	52	the	the	DET
fbem-2780	3	53	three	three	NUM
fbem-2780	3	54	places	place	NOUN
fbem-2780	3	55	is	be	AUX
fbem-2780	3	56	large	large	ADJ
fbem-2780	3	57	,	,	PUNCT
fbem-2780	3	58	and	and	CCONJ
fbem-2780	3	59	the	the	DET
fbem-2780	3	60	riskiness	riskiness	NOUN
fbem-2780	3	61	of	of	ADP
fbem-2780	3	62	carbon	carbon	NOUN
fbem-2780	3	63	trading	trading	NOUN
fbem-2780	3	64	is	be	AUX
fbem-2780	3	65	high	high	ADJ
fbem-2780	3	66	.	.	PUNCT
fbem-2780	4	1	based	base	VERB
fbem-2780	4	2	on	on	ADP
fbem-2780	4	3	this	this	PRON
fbem-2780	4	4	,	,	PUNCT
fbem-2780	4	5	this	this	DET
fbem-2780	4	6	paper	paper	NOUN
fbem-2780	4	7	puts	put	VERB
fbem-2780	4	8	forward	forward	ADP
fbem-2780	4	9	suggestions	suggestion	NOUN
fbem-2780	4	10	in	in	ADP
fbem-2780	4	11	four	four	NUM
fbem-2780	4	12	aspects	aspect	NOUN
fbem-2780	4	13	:	:	PUNCT
fbem-2780	4	14	accelerating	accelerate	VERB
fbem-2780	4	15	the	the	DET
fbem-2780	4	16	improvement	improvement	NOUN
fbem-2780	4	17	of	of	ADP
fbem-2780	4	18	basic	basic	ADJ
fbem-2780	4	19	system	system	NOUN
fbem-2780	4	20	guarantee	guarantee	NOUN
fbem-2780	4	21	,	,	PUNCT
fbem-2780	4	22	accelerating	accelerate	VERB
fbem-2780	4	23	the	the	DET
fbem-2780	4	24	construction	construction	NOUN
fbem-2780	4	25	of	of	ADP
fbem-2780	4	26	national	national	ADJ
fbem-2780	4	27	carbon	carbon	NOUN
fbem-2780	4	28	market	market	NOUN
fbem-2780	4	29	system	system	NOUN
fbem-2780	4	30	,	,	PUNCT
fbem-2780	4	31	steadily	steadily	ADV
fbem-2780	4	32	promoting	promote	VERB
fbem-2780	4	33	the	the	DET
fbem-2780	4	34	construction	construction	NOUN
fbem-2780	4	35	of	of	ADP
fbem-2780	4	36	national	national	ADJ
fbem-2780	4	37	carbon	carbon	NOUN
fbem-2780	4	38	market	market	NOUN
fbem-2780	4	39	,	,	PUNCT
fbem-2780	4	40	and	and	CCONJ
fbem-2780	4	41	establishing	establish	VERB
fbem-2780	4	42	carbon	carbon	NOUN
fbem-2780	4	43	market	market	NOUN
fbem-2780	4	44	risk	risk	NOUN
fbem-2780	4	45	identification	identification	NOUN
fbem-2780	4	46	and	and	CCONJ
fbem-2780	4	47	prevention	prevention	NOUN
fbem-2780	4	48	mechanism	mechanism	NOUN
fbem-2780	4	49	.	.	PUNCT
fbem-2780	5	1	keywords	keyword	NOUN
fbem-2780	5	2	:	:	PUNCT
fbem-2780	5	3	macroeconomics	macroeconomic	NOUN
fbem-2780	5	4	,	,	PUNCT
fbem-2780	5	5	china	china	PROPN
fbem-2780	5	6	carbon	carbon	NOUN
fbem-2780	5	7	emission	emission	NOUN
fbem-2780	5	8	trading	trading	NOUN
fbem-2780	5	9	market	market	NOUN
fbem-2780	5	10	,	,	PUNCT
fbem-2780	5	11	influencing	influence	VERB
fbem-2780	5	12	factors	factor	NOUN
fbem-2780	5	13	,	,	PUNCT
fbem-2780	5	14	volatility	volatility	NOUN
fbem-2780	5	15	.	.	PUNCT
fbem-2780	6	1	1	1	X
fbem-2780	6	2	.	.	X
fbem-2780	6	3	introduction	introduction	NOUN
fbem-2780	6	4	and	and	CCONJ
fbem-2780	6	5	literature	literature	NOUN
fbem-2780	6	6	review	review	VERB
fbem-2780	6	7	the	the	DET
fbem-2780	6	8	report	report	NOUN
fbem-2780	6	9	of	of	ADP
fbem-2780	6	10	the	the	DET
fbem-2780	6	11	19th	19th	ADJ
fbem-2780	6	12	national	national	ADJ
fbem-2780	6	13	congress	congress	PROPN
fbem-2780	6	14	emphasizes	emphasize	VERB
fbem-2780	6	15	the	the	DET
fbem-2780	6	16	need	need	NOUN
fbem-2780	6	17	to	to	PART
fbem-2780	6	18	"	"	PUNCT
fbem-2780	6	19	accelerate	accelerate	VERB
fbem-2780	6	20	the	the	DET
fbem-2780	6	21	construction	construction	NOUN
fbem-2780	6	22	of	of	ADP
fbem-2780	6	23	ecological	ecological	ADJ
fbem-2780	6	24	civilization	civilization	NOUN
fbem-2780	6	25	"	"	PUNCT
fbem-2780	6	26	,	,	PUNCT
fbem-2780	6	27	suggests	suggest	VERB
fbem-2780	6	28	that	that	SCONJ
fbem-2780	6	29	"	"	PUNCT
fbem-2780	6	30	china	china	PROPN
fbem-2780	6	31	's	's	PART
fbem-2780	6	32	environmental	environmental	ADJ
fbem-2780	6	33	protection	protection	NOUN
fbem-2780	6	34	still	still	ADV
fbem-2780	6	35	lags	lag	VERB
fbem-2780	6	36	behind	behind	ADP
fbem-2780	6	37	economic	economic	ADJ
fbem-2780	6	38	and	and	CCONJ
fbem-2780	6	39	social	social	ADJ
fbem-2780	6	40	development	development	NOUN
fbem-2780	6	41	"	"	PUNCT
fbem-2780	6	42	,	,	PUNCT
fbem-2780	6	43	and	and	CCONJ
fbem-2780	6	44	emphasizes	emphasize	VERB
fbem-2780	6	45	the	the	DET
fbem-2780	6	46	environmental	environmental	ADJ
fbem-2780	6	47	construction	construction	NOUN
fbem-2780	6	48	tasks	task	NOUN
fbem-2780	6	49	such	such	ADJ
fbem-2780	6	50	as	as	ADP
fbem-2780	6	51	"	"	PUNCT
fbem-2780	6	52	implementing	implement	VERB
fbem-2780	6	53	emission	emission	NOUN
fbem-2780	6	54	reduction	reduction	NOUN
fbem-2780	6	55	commitments	commitment	NOUN
fbem-2780	6	56	"	"	PUNCT
fbem-2780	6	57	.	.	PUNCT
fbem-2780	7	1	however	however	ADV
fbem-2780	7	2	,	,	PUNCT
fbem-2780	7	3	due	due	ADP
fbem-2780	7	4	to	to	ADP
fbem-2780	7	5	the	the	DET
fbem-2780	7	6	fact	fact	NOUN
fbem-2780	7	7	that	that	SCONJ
fbem-2780	7	8	china	china	PROPN
fbem-2780	7	9	's	's	PART
fbem-2780	7	10	carbon	carbon	NOUN
fbem-2780	7	11	emission	emission	NOUN
fbem-2780	7	12	trading	trading	NOUN
fbem-2780	7	13	market	market	NOUN
fbem-2780	7	14	is	be	AUX
fbem-2780	7	15	still	still	ADV
fbem-2780	7	16	in	in	ADP
fbem-2780	7	17	a	a	DET
fbem-2780	7	18	state	state	NOUN
fbem-2780	7	19	of	of	ADP
fbem-2780	7	20	flux	flux	NOUN
fbem-2780	7	21	,	,	PUNCT
fbem-2780	7	22	it	it	PRON
fbem-2780	7	23	is	be	AUX
fbem-2780	7	24	not	not	PART
fbem-2780	7	25	easy	easy	ADJ
fbem-2780	7	26	to	to	PART
fbem-2780	7	27	find	find	VERB
fbem-2780	7	28	a	a	DET
fbem-2780	7	29	market	market	NOUN
fbem-2780	7	30	for	for	ADP
fbem-2780	7	31	carbon	carbon	NOUN
fbem-2780	7	32	emissions	emission	NOUN
fbem-2780	7	33	.	.	PUNCT
fbem-2780	8	1	however	however	ADV
fbem-2780	8	2	,	,	PUNCT
fbem-2780	8	3	since	since	SCONJ
fbem-2780	8	4	china	china	PROPN
fbem-2780	8	5	's	's	PART
fbem-2780	8	6	carbon	carbon	NOUN
fbem-2780	8	7	emission	emission	NOUN
fbem-2780	8	8	trading	trading	NOUN
fbem-2780	8	9	market	market	NOUN
fbem-2780	8	10	is	be	AUX
fbem-2780	8	11	still	still	ADV
fbem-2780	8	12	in	in	ADP
fbem-2780	8	13	the	the	DET
fbem-2780	8	14	construction	construction	NOUN
fbem-2780	8	15	stage	stage	NOUN
fbem-2780	8	16	and	and	CCONJ
fbem-2780	8	17	the	the	DET
fbem-2780	8	18	number	number	NOUN
fbem-2780	8	19	of	of	ADP
fbem-2780	8	20	transactions	transaction	NOUN
fbem-2780	8	21	is	be	AUX
fbem-2780	8	22	small	small	ADJ
fbem-2780	8	23	,	,	PUNCT
fbem-2780	8	24	there	there	PRON
fbem-2780	8	25	is	be	VERB
fbem-2780	8	26	little	little	ADJ
fbem-2780	8	27	research	research	NOUN
fbem-2780	8	28	literature	literature	NOUN
fbem-2780	8	29	on	on	ADP
fbem-2780	8	30	the	the	DET
fbem-2780	8	31	price	price	NOUN
fbem-2780	8	32	volatility	volatility	NOUN
fbem-2780	8	33	of	of	ADP
fbem-2780	8	34	the	the	DET
fbem-2780	8	35	carbon	carbon	NOUN
fbem-2780	8	36	emission	emission	NOUN
fbem-2780	8	37	trading	trading	NOUN
fbem-2780	8	38	market	market	NOUN
fbem-2780	8	39	.	.	PUNCT
fbem-2780	9	1	the	the	DET
fbem-2780	9	2	existing	exist	VERB
fbem-2780	9	3	studies	study	NOUN
fbem-2780	9	4	mainly	mainly	ADV
fbem-2780	9	5	focus	focus	VERB
fbem-2780	9	6	on	on	ADP
fbem-2780	9	7	the	the	DET
fbem-2780	9	8	framework	framework	NOUN
fbem-2780	9	9	of	of	ADP
fbem-2780	9	10	the	the	DET
fbem-2780	9	11	carbon	carbon	NOUN
fbem-2780	9	12	emission	emission	NOUN
fbem-2780	9	13	trading	trading	NOUN
fbem-2780	9	14	market	market	NOUN
fbem-2780	9	15	,	,	PUNCT
fbem-2780	9	16	and	and	CCONJ
fbem-2780	9	17	believe	believe	VERB
fbem-2780	9	18	that	that	SCONJ
fbem-2780	9	19	the	the	DET
fbem-2780	9	20	carbon	carbon	NOUN
fbem-2780	9	21	trading	trading	NOUN
fbem-2780	9	22	market	market	NOUN
fbem-2780	9	23	will	will	AUX
fbem-2780	9	24	become	become	VERB
fbem-2780	9	25	a	a	DET
fbem-2780	9	26	commodity	commodity	NOUN
fbem-2780	9	27	market	market	NOUN
fbem-2780	9	28	of	of	ADP
fbem-2780	9	29	great	great	ADJ
fbem-2780	9	30	scale	scale	NOUN
fbem-2780	9	31	in	in	ADP
fbem-2780	9	32	the	the	DET
fbem-2780	9	33	future	future	NOUN
fbem-2780	9	34	,	,	PUNCT
fbem-2780	9	35	with	with	ADP
fbem-2780	9	36	less	less	ADJ
fbem-2780	9	37	research	research	NOUN
fbem-2780	9	38	on	on	ADP
fbem-2780	9	39	the	the	DET
fbem-2780	9	40	price	price	NOUN
fbem-2780	9	41	volatility	volatility	NOUN
fbem-2780	9	42	of	of	ADP
fbem-2780	9	43	the	the	DET
fbem-2780	9	44	carbon	carbon	NOUN
fbem-2780	9	45	market	market	NOUN
fbem-2780	9	46	.	.	PUNCT
fbem-2780	10	1	as	as	ADP
fbem-2780	10	2	a	a	DET
fbem-2780	10	3	new	new	ADJ
fbem-2780	10	4	financial	financial	ADJ
fbem-2780	10	5	technology	technology	NOUN
fbem-2780	10	6	product	product	NOUN
fbem-2780	10	7	with	with	ADP
fbem-2780	10	8	special	special	ADJ
fbem-2780	10	9	attributes	attribute	NOUN
fbem-2780	10	10	,	,	PUNCT
fbem-2780	10	11	carbon	carbon	NOUN
fbem-2780	10	12	emission	emission	NOUN
fbem-2780	10	13	rights	right	NOUN
fbem-2780	10	14	will	will	AUX
fbem-2780	10	15	also	also	ADV
fbem-2780	10	16	affect	affect	VERB
fbem-2780	10	17	the	the	DET
fbem-2780	10	18	financial	financial	ADJ
fbem-2780	10	19	market	market	NOUN
fbem-2780	10	20	and	and	CCONJ
fbem-2780	10	21	enterprise	enterprise	NOUN
fbem-2780	10	22	production	production	NOUN
fbem-2780	10	23	,	,	PUNCT
fbem-2780	10	24	and	and	CCONJ
fbem-2780	10	25	have	have	VERB
fbem-2780	10	26	a	a	DET
fbem-2780	10	27	significant	significant	ADJ
fbem-2780	10	28	impact	impact	NOUN
fbem-2780	10	29	on	on	ADP
fbem-2780	10	30	the	the	DET
fbem-2780	10	31	achievement	achievement	NOUN
fbem-2780	10	32	of	of	ADP
fbem-2780	10	33	the	the	DET
fbem-2780	10	34	"	"	PUNCT
fbem-2780	10	35	double	double	ADJ
fbem-2780	10	36	carbon	carbon	NOUN
fbem-2780	10	37	"	"	PUNCT
fbem-2780	10	38	goal	goal	NOUN
fbem-2780	10	39	in	in	ADP
fbem-2780	10	40	china	china	PROPN
fbem-2780	10	41	.	.	PUNCT
fbem-2780	11	1	liu	liu	PROPN
fbem-2780	11	2	,	,	PUNCT
fbem-2780	11	3	hongqin	hongqin	PROPN
fbem-2780	11	4	et	et	PROPN
fbem-2780	11	5	al	al	PROPN
fbem-2780	11	6	.	.	PROPN
fbem-2780	11	7	(	(	PUNCT
fbem-2780	11	8	2021	2021	NUM
fbem-2780	11	9	)	)	PUNCT
fbem-2780	11	10	concluded	conclude	VERB
fbem-2780	11	11	that	that	SCONJ
fbem-2780	11	12	the	the	DET
fbem-2780	11	13	carbon	carbon	NOUN
fbem-2780	11	14	market	market	NOUN
fbem-2780	11	15	in	in	ADP
fbem-2780	11	16	china	china	PROPN
fbem-2780	11	17	is	be	AUX
fbem-2780	11	18	maturing	mature	VERB
fbem-2780	11	19	and	and	CCONJ
fbem-2780	11	20	prices	price	NOUN
fbem-2780	11	21	are	be	AUX
fbem-2780	11	22	generally	generally	ADV
fbem-2780	11	23	on	on	ADP
fbem-2780	11	24	an	an	DET
fbem-2780	11	25	upward	upward	ADJ
fbem-2780	11	26	trend	trend	NOUN
fbem-2780	11	27	,	,	PUNCT
fbem-2780	11	28	and	and	CCONJ
fbem-2780	11	29	that	that	SCONJ
fbem-2780	11	30	the	the	DET
fbem-2780	11	31	price	price	NOUN
fbem-2780	11	32	volatility	volatility	NOUN
fbem-2780	11	33	risk	risk	NOUN
fbem-2780	11	34	is	be	AUX
fbem-2780	11	35	minimal	minimal	ADJ
fbem-2780	11	36	and	and	CCONJ
fbem-2780	11	37	table	table	NOUN
fbem-2780	11	38	1	1	NUM
fbem-2780	11	39	.	.	PUNCT
fbem-2780	12	1	guangzhou	guangzhou	PROPN
fbem-2780	12	2	carbon	carbon	PROPN
fbem-2780	12	3	emission	emission	PROPN
fbem-2780	12	4	exchange	exchange	NOUN
fbem-2780	12	5	2019	2019	NUM
fbem-2780	12	6	-	-	SYM
fbem-2780	12	7	2021	2021	NUM
fbem-2780	12	8	trading	trading	NOUN
fbem-2780	12	9	information	information	NOUN
fbem-2780	12	10	date	date	NOUN
fbem-2780	12	11	species	specie	NOUN
fbem-2780	12	12	opening	open	VERB
fbem-2780	12	13	price	price	NOUN
fbem-2780	12	14	closing	closing	NOUN
fbem-2780	12	15	price	price	NOUN
fbem-2780	12	16	highest	high	ADJ
fbem-2780	12	17	price	price	NOUN
fbem-2780	12	18	lowest	low	ADJ
fbem-2780	12	19	price	price	NOUN
fbem-2780	12	20	up	up	ADP
fbem-2780	12	21	or	or	CCONJ
fbem-2780	12	22	down	down	ADV
fbem-2780	12	23	change	change	NOUN
fbem-2780	12	24	%	%	NOUN
fbem-2780	12	25	number	number	NOUN
fbem-2780	12	26	of	of	ADP
fbem-2780	12	27	transactions	transaction	NOUN
fbem-2780	12	28	transaction	transaction	NOUN
fbem-2780	12	29	amount	amount	NOUN
fbem-2780	12	30	20211201	20211201	NUM
fbem-2780	12	31	gdea	gdea	VERB
fbem-2780	12	32	45.4	45.4	NUM
fbem-2780	12	33	45.28	45.28	NUM
fbem-2780	12	34	45.79	45.79	NUM
fbem-2780	12	35	44.6	44.6	NUM
fbem-2780	12	36	-0.12	-0.12	NUM
fbem-2780	12	37	-0.26	-0.26	X
fbem-2780	12	38	20832	20832	NUM
fbem-2780	12	39	943371.97	943371.97	NUM
fbem-2780	12	40	20211101	20211101	NUM
fbem-2780	12	41	gdea	gdea	NOUN
fbem-2780	12	42	43.36	43.36	NUM
fbem-2780	12	43	43.51	43.51	NUM
fbem-2780	12	44	44	44	NUM
fbem-2780	12	45	42.69	42.69	NUM
fbem-2780	12	46	0.15	0.15	NUM
fbem-2780	12	47	0.35	0.35	NUM
fbem-2780	12	48	17708	17708	NUM
fbem-2780	12	49	770439.49	770439.49	NUM
fbem-2780	12	50	20211008	20211008	NUM
fbem-2780	12	51	gdea	gdea	NOUN
fbem-2780	12	52	43.7	43.7	NUM
fbem-2780	12	53	43.93	43.93	NUM
fbem-2780	12	54	44	44	NUM
fbem-2780	12	55	43	43	NUM
fbem-2780	12	56	0.23	0.23	NUM
fbem-2780	12	57	0.53	0.53	NUM
fbem-2780	12	58	12243	12243	NUM
fbem-2780	12	59	537801.69	537801.69	NUM
fbem-2780	12	60	20210901	20210901	NUM
fbem-2780	12	61	gdea	gdea	VERB
fbem-2780	12	62	39.89	39.89	NUM
fbem-2780	12	63	38.22	38.22	NUM
fbem-2780	12	64	39.8	39.8	NUM
fbem-2780	12	65	38.04	38.04	NUM
fbem-2780	12	66	-1.67	-1.67	CCONJ
fbem-2780	12	67	-4.19	-4.19	NUM
fbem-2780	12	68	2265	2265	NUM
fbem-2780	12	69	86564.09	86564.09	NUM
fbem-2780	12	70	20210802	20210802	NUM
fbem-2780	12	71	gdea	gdea	NOUN
fbem-2780	12	72	40.18	40.18	NUM
fbem-2780	12	73	40.25	40.25	NUM
fbem-2780	12	74	42.88	42.88	NUM
fbem-2780	12	75	40.1	40.1	NUM
fbem-2780	12	76	0.07	0.07	NUM
fbem-2780	12	77	0.17	0.17	NUM
fbem-2780	12	78	156504	156504	NUM
fbem-2780	12	79	5564315.38	5564315.38	NUM
fbem-2780	12	80	20210701	20210701	NUM
fbem-2780	12	81	gdea	gdea	VERB
fbem-2780	12	82	41.32	41.32	NUM
fbem-2780	12	83	43.22	43.22	NUM
fbem-2780	12	84	44	44	NUM
fbem-2780	12	85	42.6	42.6	NUM
fbem-2780	12	86	1.9	1.9	NUM
fbem-2780	12	87	4.6	4.6	NUM
fbem-2780	12	88	303552	303552	NUM
fbem-2780	12	89	12756159.03	12756159.03	NUM
fbem-2780	12	90	20210601	20210601	NUM
fbem-2780	12	91	gdea	gdea	VERB
fbem-2780	12	92	39.44	39.44	NUM
fbem-2780	12	93	39.47	39.47	NUM
fbem-2780	12	94	39.9	39.9	NUM
fbem-2780	12	95	39.3	39.3	NUM
fbem-2780	12	96	0.03	0.03	NUM
fbem-2780	12	97	0.08	0.08	NUM
fbem-2780	12	98	59595	59595	NUM
fbem-2780	12	99	2352316.09	2352316.09	NUM
fbem-2780	12	100	20210506	20210506	NUM
fbem-2780	12	101	gdea	gdea	VERB
fbem-2780	12	102	38.26	38.26	NUM
fbem-2780	12	103	39.16	39.16	NUM
fbem-2780	13	1	39.35	39.35	NUM
fbem-2780	13	2	39.1	39.1	NUM
fbem-2780	13	3	0.9	0.9	NUM
fbem-2780	13	4	2.35	2.35	NUM
fbem-2780	13	5	108142	108142	NUM
fbem-2780	13	6	3888848.72	3888848.72	NUM
fbem-2780	13	7	20210401	20210401	NUM
fbem-2780	13	8	gdea	gdea	VERB
fbem-2780	13	9	36.28	36.28	NUM
fbem-2780	13	10	37.56	37.56	NUM
fbem-2780	13	11	37.9	37.9	NUM
fbem-2780	13	12	33.6	33.6	NUM
fbem-2780	13	13	1.28	1.28	NUM
fbem-2780	13	14	3.53	3.53	NUM
fbem-2780	13	15	4615	4615	NUM
fbem-2780	13	16	170158.15	170158.15	NUM
fbem-2780	13	17	20210301	20210301	NUM
fbem-2780	13	18	gdea	gdea	VERB
fbem-2780	13	19	31.99	31.99	NUM
fbem-2780	13	20	32.12	32.12	NUM
fbem-2780	13	21	32.12	32.12	NUM
fbem-2780	13	22	29	29	NUM
fbem-2780	13	23	0.13	0.13	NUM
fbem-2780	13	24	0.41	0.41	NUM
fbem-2780	13	25	1244	1244	NUM
fbem-2780	13	26	38572	38572	NUM
fbem-2780	13	27	20210201	20210201	NUM
fbem-2780	13	28	gdea	gdea	VERB
fbem-2780	13	29	31.35	31.35	NUM
fbem-2780	13	30	31.05	31.05	NUM
fbem-2780	13	31	31.99	31.99	NUM
fbem-2780	13	32	28.66	28.66	NUM
fbem-2780	13	33	-0.3	-0.3	PROPN
fbem-2780	13	34	-0.96	-0.96	NUM
fbem-2780	13	35	39320	39320	NUM
fbem-2780	13	36	1219754.38	1219754.38	NUM
fbem-2780	13	37	20210104	20210104	NUM
fbem-2780	13	38	gdea	gdea	VERB
fbem-2780	13	39	28.41	28.41	NUM
fbem-2780	13	40	27.94	27.94	NUM
fbem-2780	13	41	28.86	28.86	NUM
fbem-2780	13	42	26	26	NUM
fbem-2780	13	43	-0.47	-0.47	PUNCT
fbem-2780	13	44	-1.65	-1.65	NUM
fbem-2780	13	45	22155	22155	NUM
fbem-2780	13	46	617880	617880	NUM
fbem-2780	13	47	20201201	20201201	NUM
fbem-2780	13	48	gdea	gdea	VERB
fbem-2780	13	49	27.47	27.47	NUM
fbem-2780	13	50	27.71	27.71	NUM
fbem-2780	13	51	27.8	27.8	NUM
fbem-2780	13	52	27.5	27.5	NUM
fbem-2780	13	53	0.24	0.24	NUM
fbem-2780	13	54	0.87	0.87	NUM
fbem-2780	13	55	83066	83066	NUM
fbem-2780	13	56	2301915.15	2301915.15	NUM
fbem-2780	13	57	20201102	20201102	NUM
fbem-2780	13	58	gdea	gdea	VERB
fbem-2780	13	59	27.47	27.47	NUM
fbem-2780	13	60	27.81	27.81	NUM
fbem-2780	13	61	28	28	NUM
fbem-2780	13	62	27.21	27.21	NUM
fbem-2780	13	63	0.34	0.34	NUM
fbem-2780	13	64	1.24	1.24	NUM
fbem-2780	13	65	196359	196359	NUM
fbem-2780	13	66	5459788.51	5459788.51	NUM
fbem-2780	13	67	20201009	20201009	NUM
fbem-2780	13	68	gdea	gdea	VERB
fbem-2780	13	69	27.53	27.53	NUM
fbem-2780	13	70	27.24	27.24	NUM
fbem-2780	13	71	28.08	28.08	NUM
fbem-2780	13	72	25	25	NUM
fbem-2780	13	73	-0.29	-0.29	NOUN
fbem-2780	13	74	-1.05	-1.05	NUM
fbem-2780	13	75	435702	435702	NUM
fbem-2780	13	76	11165113.24	11165113.24	NUM
fbem-2780	13	77	20200901	20200901	NUM
fbem-2780	13	78	gdea	gdea	NOUN
fbem-2780	13	79	27.5	27.5	NUM
fbem-2780	13	80	28.09	28.09	NUM
fbem-2780	13	81	28.09	28.09	NUM
fbem-2780	13	82	28.09	28.09	NUM
fbem-2780	13	83	0.59	0.59	NUM
fbem-2780	13	84	2.15	2.15	NUM
fbem-2780	13	85	164000	164000	NUM
fbem-2780	13	86	3843260	3843260	NUM
fbem-2780	13	87	20200803	20200803	NUM
fbem-2780	13	88	gdea	gdea	NOUN
fbem-2780	13	89	28.35	28.35	NUM
fbem-2780	13	90	28.12	28.12	NUM
fbem-2780	13	91	28.48	28.48	NUM
fbem-2780	13	92	27.51	27.51	NUM
fbem-2780	13	93	-0.23	-0.23	NUM
fbem-2780	13	94	-0.81	-0.81	NUM
fbem-2780	13	95	499531	499531	NUM
fbem-2780	13	96	7252840.58	7252840.58	NUM
fbem-2780	13	97	20200701	20200701	NUM
fbem-2780	13	98	gdea	gdea	VERB
fbem-2780	13	99	27.55	27.55	NUM
fbem-2780	13	100	27.6	27.6	NUM
fbem-2780	13	101	27.98	27.98	NUM
fbem-2780	13	102	27.26	27.26	NUM
fbem-2780	13	103	0.05	0.05	NUM
fbem-2780	13	104	0.18	0.18	NUM
fbem-2780	13	105	119933	119933	NUM
fbem-2780	13	106	3708924.11	3708924.11	NUM
fbem-2780	13	107	20200601	20200601	NUM
fbem-2780	13	108	gdea	gdea	VERB
fbem-2780	13	109	28.66	28.66	NUM
fbem-2780	13	110	28.18	28.18	NUM
fbem-2780	13	111	28.49	28.49	NUM
fbem-2780	13	112	27.8	27.8	NUM
fbem-2780	13	113	-0.48	-0.48	NUM
fbem-2780	13	114	-1.67	-1.67	NUM
fbem-2780	13	115	308070	308070	NUM
fbem-2780	13	116	7545427.19	7545427.19	NUM
fbem-2780	13	117	20200506	20200506	NUM
fbem-2780	13	118	gdea	gdea	VERB
fbem-2780	13	119	27.9	27.9	NUM
fbem-2780	13	120	28.32	28.32	NUM
fbem-2780	13	121	28.39	28.39	NUM
fbem-2780	13	122	27.82	27.82	NUM
fbem-2780	13	123	0.42	0.42	NUM
fbem-2780	13	124	1.51	1.51	NUM
fbem-2780	13	125	5694	5694	NUM
fbem-2780	13	126	161271.96	161271.96	NUM
fbem-2780	13	127	20200401	20200401	NUM
fbem-2780	13	128	gdea	gdea	VERB
fbem-2780	13	129	29.58	29.58	NUM
fbem-2780	13	130	29.35	29.35	NUM
fbem-2780	13	131	30.25	30.25	NUM
fbem-2780	13	132	29.2	29.2	NUM
fbem-2780	13	133	-0.23	-0.23	PROPN
fbem-2780	13	134	-0.78	-0.78	NUM
fbem-2780	13	135	338482	338482	NUM
fbem-2780	13	136	5667549	5667549	NUM
fbem-2780	13	137	20200302	20200302	NUM
fbem-2780	13	138	gdea	gdea	VERB
fbem-2780	13	139	30.22	30.22	NUM
fbem-2780	13	140	30.02	30.02	NUM
fbem-2780	13	141	30.85	30.85	NUM
fbem-2780	13	142	28.6	28.6	NUM
fbem-2780	13	143	-0.2	-0.2	NOUN
fbem-2780	13	144	-0.66	-0.66	NUM
fbem-2780	13	145	468842	468842	NUM
fbem-2780	13	146	12694782.35	12694782.35	NUM
fbem-2780	13	147	20200210	20200210	NUM
fbem-2780	13	148	gdea	gdea	VERB
fbem-2780	13	149	27.15	27.15	NUM
fbem-2780	13	150	28.73	28.73	NUM
fbem-2780	13	151	29.87	29.87	NUM
fbem-2780	13	152	28.21	28.21	NUM
fbem-2780	13	153	1.58	1.58	NUM
fbem-2780	13	154	5.82	5.82	NUM
fbem-2780	13	155	3368	3368	NUM
fbem-2780	13	156	99042.96	99042.96	NUM
fbem-2780	13	157	20200102	20200102	NUM
fbem-2780	13	158	gdea	gdea	VERB
fbem-2780	13	159	27.88	27.88	NUM
fbem-2780	13	160	28.03	28.03	NUM
fbem-2780	13	161	30	30	NUM
fbem-2780	13	162	28	28	NUM
fbem-2780	13	163	0.15	0.15	NUM
fbem-2780	13	164	0.54	0.54	NUM
fbem-2780	13	165	6225	6225	NUM
fbem-2780	13	166	174505.31	174505.31	NUM
fbem-2780	13	167	20191202	20191202	NUM
fbem-2780	13	168	gdea	gdea	VERB
fbem-2780	13	169	26.95	26.95	NUM
fbem-2780	13	170	26.9	26.9	NUM
fbem-2780	13	171	27.5	27.5	NUM
fbem-2780	13	172	26.55	26.55	NUM
fbem-2780	13	173	-0.05	-0.05	NUM
fbem-2780	13	174	-0.19	-0.19	NUM
fbem-2780	13	175	11252	11252	NUM
fbem-2780	13	176	302626.92	302626.92	NUM
fbem-2780	13	177	62	62	NUM
fbem-2780	13	178	table	table	NOUN
fbem-2780	13	179	2	2	NUM
fbem-2780	13	180	.	.	PUNCT
fbem-2780	14	1	tianjin	tianjin	PROPN
fbem-2780	14	2	carbon	carbon	PROPN
fbem-2780	14	3	emission	emission	PROPN
fbem-2780	14	4	exchange	exchange	NOUN
fbem-2780	14	5	2019	2019	NUM
fbem-2780	14	6	-	-	SYM
fbem-2780	14	7	2021	2021	NUM
fbem-2780	14	8	trading	trading	NOUN
fbem-2780	14	9	information	information	NOUN
fbem-2780	14	10	transaction	transaction	NOUN
fbem-2780	14	11	volume	volume	NOUN
fbem-2780	14	12	(	(	PUNCT
fbem-2780	14	13	ton	ton	NOUN
fbem-2780	14	14	)	)	PUNCT
fbem-2780	14	15	turnover	turnover	NOUN
fbem-2780	14	16	(	(	PUNCT
fbem-2780	14	17	yuan	yuan	NOUN
fbem-2780	14	18	)	)	PUNCT
fbem-2780	14	19	average	average	ADJ
fbem-2780	14	20	transaction	transaction	NOUN
fbem-2780	14	21	price	price	NOUN
fbem-2780	14	22	(	(	PUNCT
fbem-2780	14	23	yuan	yuan	NOUN
fbem-2780	14	24	/	/	SYM
fbem-2780	14	25	ton	ton	NOUN
fbem-2780	14	26	)	)	PUNCT
fbem-2780	14	27	transaction	transaction	NOUN
fbem-2780	14	28	date	date	NOUN
fbem-2780	14	29	trading	trading	NOUN
fbem-2780	14	30	species	specie	NOUN
fbem-2780	14	31	online	online	ADJ
fbem-2780	14	32	trading	trading	NOUN
fbem-2780	14	33	agreement	agreement	NOUN
fbem-2780	14	34	transaction	transaction	NOUN
fbem-2780	14	35	online	online	ADJ
fbem-2780	14	36	trading	trading	NOUN
fbem-2780	14	37	agreeme	agreeme	NOUN
fbem-2780	14	38	nt	nt	ADP
fbem-2780	14	39	online	online	ADJ
fbem-2780	14	40	trading	trading	NOUN
fbem-2780	14	41	agreement	agreement	NOUN
fbem-2780	14	42	transaction	transaction	NOUN
fbem-2780	14	43	2021	2021	NUM
fbem-2780	14	44	-	-	SYM
fbem-2780	14	45	05	05	NUM
fbem-2780	14	46	-	-	SYM
fbem-2780	14	47	17	17	NUM
fbem-2780	14	48	tjea20	tjea20	NOUN
fbem-2780	14	49	40	40	NUM
fbem-2780	14	50	-tjea20	-tjea20	PUNCT
fbem-2780	14	51	1,160	1,160	NUM
fbem-2780	14	52	29.00	29.00	NUM
fbem-2780	14	53	2021	2021	NUM
fbem-2780	14	54	-	-	PUNCT
fbem-2780	14	55	04	04	NUM
fbem-2780	14	56	-	-	SYM
fbem-2780	14	57	13	13	NUM
fbem-2780	14	58	tjea20	tjea20	NOUN
fbem-2780	14	59	14,000	14,000	NUM
fbem-2780	14	60	392,000	392,000	NUM
fbem-2780	14	61	28.00	28.00	NUM
fbem-2780	14	62	2021	2021	NUM
fbem-2780	14	63	-	-	SYM
fbem-2780	14	64	03	03	NUM
fbem-2780	14	65	-	-	SYM
fbem-2780	14	66	15	15	NUM
fbem-2780	14	67	tjea20	tjea20	NOUN
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fbem-2780	14	69	630,000	630,000	NUM
fbem-2780	14	70	22.50	22.50	NUM
fbem-2780	14	71	2021	2021	NUM
fbem-2780	14	72	-	-	SYM
fbem-2780	14	73	02	02	NUM
fbem-2780	14	74	-	-	PUNCT
fbem-2780	14	75	10	10	NUM
fbem-2780	14	76	tjea20	tjea20	NOUN
fbem-2780	14	77	28,400	28,400	NUM
fbem-2780	14	78	791,792	791,792	NUM
fbem-2780	14	79	27.88	27.88	NUM
fbem-2780	14	80	2021	2021	NUM
fbem-2780	14	81	-	-	SYM
fbem-2780	14	82	01	01	NUM
fbem-2780	14	83	-	-	PUNCT
fbem-2780	14	84	22	22	NUM
fbem-2780	14	85	tjea20	tjea20	NOUN
fbem-2780	14	86	31,200	31,200	NUM
fbem-2780	14	87	783,744	783,744	NUM
fbem-2780	14	88	25.12	25.12	NUM
fbem-2780	14	89	2020	2020	NUM
fbem-2780	14	90	-	-	SYM
fbem-2780	14	91	12	12	NUM
fbem-2780	14	92	-	-	SYM
fbem-2780	14	93	22	22	NUM
fbem-2780	14	94	tjea20	tjea20	NOUN
fbem-2780	14	95	3,400	3,400	NUM
fbem-2780	14	96	76,500	76,500	NUM
fbem-2780	14	97	22.50	22.50	NUM
fbem-2780	14	98	2020	2020	NUM
fbem-2780	14	99	-	-	SYM
fbem-2780	14	100	11	11	NUM
fbem-2780	14	101	-	-	SYM
fbem-2780	14	102	13	13	NUM
fbem-2780	14	103	tjea20	tjea20	NOUN
fbem-2780	14	104	18,760	18,760	NUM
fbem-2780	14	105	476,504	476,504	NUM
fbem-2780	14	106	25.40	25.40	NUM
fbem-2780	14	107	2020	2020	NUM
fbem-2780	14	108	-	-	SYM
fbem-2780	14	109	10	10	NUM
fbem-2780	14	110	-	-	SYM
fbem-2780	14	111	15	15	NUM
fbem-2780	14	112	tjea20	tjea20	NOUN
fbem-2780	14	113	16,000	16,000	NUM
fbem-2780	14	114	403,200	403,200	NUM
fbem-2780	14	115	25.20	25.20	NUM
fbem-2780	14	116	2020	2020	NUM
fbem-2780	14	117	-	-	SYM
fbem-2780	14	118	09	09	NUM
fbem-2780	14	119	-	-	SYM
fbem-2780	14	120	16	16	NUM
fbem-2780	14	121	tjea20	tjea20	NOUN
fbem-2780	14	122	195	195	NUM
fbem-2780	14	123	5,015	5,015	NUM
fbem-2780	14	124	25.72	25.72	NUM
fbem-2780	14	125	2020	2020	NUM
fbem-2780	14	126	-	-	SYM
fbem-2780	14	127	08	08	NUM
fbem-2780	14	128	-	-	PUNCT
fbem-2780	14	129	19	19	NUM
fbem-2780	14	130	tjea19	tjea19	NOUN
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fbem-2780	14	132	315,485	315,485	NUM
fbem-2780	14	133	2,650,000	2,650,000	NUM
fbem-2780	14	134	7,872,41	7,872,41	NUM
fbem-2780	14	135	4	4	NUM
fbem-2780	14	136	26.50	26.50	NUM
fbem-2780	14	137	24.95	24.95	NUM
fbem-2780	14	138	2020	2020	NUM
fbem-2780	14	139	-	-	SYM
fbem-2780	14	140	07	07	NUM
fbem-2780	14	141	-	-	PUNCT
fbem-2780	14	142	15	15	NUM
fbem-2780	14	143	tjea19	tjea19	NOUN
fbem-2780	14	144	72,980	72,980	NUM
fbem-2780	14	145	1,945,647	1,945,647	NUM
fbem-2780	14	146	26.66	26.66	NUM
fbem-2780	14	147	2020	2020	NUM
fbem-2780	14	148	-	-	SYM
fbem-2780	14	149	06	06	NUM
fbem-2780	14	150	-	-	SYM
fbem-2780	14	151	16	16	NUM
fbem-2780	14	152	tjea19	tjea19	NOUN
fbem-2780	14	153	7,424	7,424	NUM
fbem-2780	14	154	196,736	196,736	NUM
fbem-2780	14	155	26.50	26.50	NUM
fbem-2780	14	156	2020	2020	NUM
fbem-2780	14	157	-	-	SYM
fbem-2780	14	158	05	05	NUM
fbem-2780	14	159	-	-	PUNCT
fbem-2780	14	160	15	15	NUM
fbem-2780	14	161	tjea19	tjea19	NOUN
fbem-2780	14	162	260	260	NUM
fbem-2780	14	163	5,460	5,460	NUM
fbem-2780	14	164	21.00	21.00	NUM
fbem-2780	14	165	2020	2020	NUM
fbem-2780	14	166	-	-	SYM
fbem-2780	14	167	04	04	NUM
fbem-2780	14	168	-	-	PUNCT
fbem-2780	14	169	14	14	NUM
fbem-2780	14	170	tjea19	tjea19	NOUN
fbem-2780	14	171	160	160	NUM
fbem-2780	14	172	3,072	3,072	NUM
fbem-2780	14	173	19.20	19.20	NUM
fbem-2780	14	174	2020	2020	NUM
fbem-2780	14	175	-	-	SYM
fbem-2780	14	176	03	03	NUM
fbem-2780	14	177	-	-	PUNCT
fbem-2780	14	178	12	12	NUM
fbem-2780	14	179	tjea19	tjea19	NOUN
fbem-2780	14	180	350	350	NUM
fbem-2780	14	181	5,950	5,950	NUM
fbem-2780	14	182	17.00	17.00	NUM
fbem-2780	14	183	2020	2020	NUM
fbem-2780	14	184	-	-	SYM
fbem-2780	14	185	02	02	NUM
fbem-2780	14	186	-	-	PUNCT
fbem-2780	14	187	12	12	NUM
fbem-2780	14	188	tjea19	tjea19	NOUN
fbem-2780	14	189	102,363	102,363	NUM
fbem-2780	14	190	1,555,91	1,555,91	NUM
fbem-2780	14	191	8	8	NUM
fbem-2780	14	192	15.20	15.20	NUM
fbem-2780	14	193	2020	2020	NUM
fbem-2780	14	194	-	-	SYM
fbem-2780	14	195	01	01	NUM
fbem-2780	14	196	-	-	PUNCT
fbem-2780	14	197	14	14	NUM
fbem-2780	14	198	tjea19	tjea19	NOUN
fbem-2780	14	199	410	410	NUM
fbem-2780	14	200	6,806	6,806	NUM
fbem-2780	14	201	16.60	16.60	NUM
fbem-2780	14	202	2019	2019	NUM
fbem-2780	14	203	-	-	SYM
fbem-2780	14	204	12	12	NUM
fbem-2780	14	205	-	-	SYM
fbem-2780	14	206	30	30	NUM
fbem-2780	14	207	tjea19	tjea19	NOUN
fbem-2780	14	208	427	427	NUM
fbem-2780	14	209	6,576	6,576	NUM
fbem-2780	14	210	15.40	15.40	NUM
fbem-2780	14	211	2019	2019	NUM
fbem-2780	14	212	-	-	SYM
fbem-2780	14	213	10	10	NUM
fbem-2780	14	214	-	-	SYM
fbem-2780	14	215	25	25	NUM
fbem-2780	14	216	tjea19	tjea19	NOUN
fbem-2780	14	217	170	170	NUM
fbem-2780	14	218	257	257	NUM
fbem-2780	14	219	2,385	2,385	NUM
fbem-2780	14	220	3,598	3,598	NUM
fbem-2780	14	221	14.03	14.03	NUM
fbem-2780	14	222	14.00	14.00	NUM
fbem-2780	14	223	2019	2019	NUM
fbem-2780	14	224	-	-	SYM
fbem-2780	14	225	08	08	NUM
fbem-2780	14	226	-	-	PUNCT
fbem-2780	14	227	14	14	NUM
fbem-2780	14	228	tjea19	tjea19	NOUN
fbem-2780	14	229	41,764	41,764	NUM
fbem-2780	14	230	523,721	523,721	NUM
fbem-2780	14	231	12.54	12.54	NUM
fbem-2780	14	232	2019	2019	NUM
fbem-2780	14	233	-	-	SYM
fbem-2780	14	234	07	07	NUM
fbem-2780	14	235	-	-	PUNCT
fbem-2780	14	236	17	17	NUM
fbem-2780	14	237	tjea19	tjea19	NOUN
fbem-2780	14	238	400	400	NUM
fbem-2780	14	239	5,240	5,240	NUM
fbem-2780	14	240	13.10	13.10	NUM
fbem-2780	14	241	2019	2019	NUM
fbem-2780	14	242	-	-	SYM
fbem-2780	14	243	06	06	NUM
fbem-2780	14	244	-	-	SYM
fbem-2780	14	245	13	13	NUM
fbem-2780	14	246	tjea18	tjea18	NOUN
fbem-2780	14	247	116,566	116,566	NUM
fbem-2780	14	248	1,624,29	1,624,29	NUM
fbem-2780	14	249	0	0	NUM
fbem-2780	14	250	13.93	13.93	NUM
fbem-2780	14	251	2019	2019	NUM
fbem-2780	14	252	-	-	SYM
fbem-2780	14	253	05	05	NUM
fbem-2780	14	254	-	-	PUNCT
fbem-2780	14	255	14	14	NUM
fbem-2780	14	256	tjea18	tjea18	NOUN
fbem-2780	14	257	2,827	2,827	NUM
fbem-2780	14	258	35,451	35,451	NUM
fbem-2780	14	259	12.54	12.54	NUM
fbem-2780	14	260	table	table	NOUN
fbem-2780	14	261	3	3	NUM
fbem-2780	14	262	.	.	PUNCT
fbem-2780	15	1	hubei	hubei	PROPN
fbem-2780	15	2	carbon	carbon	PROPN
fbem-2780	15	3	emissions	emission	NOUN
fbem-2780	15	4	exchange	exchange	NOUN
fbem-2780	15	5	2019	2019	NUM
fbem-2780	15	6	-	-	SYM
fbem-2780	15	7	2021	2021	NUM
fbem-2780	15	8	trading	trading	NOUN
fbem-2780	15	9	information	information	NOUN
fbem-2780	15	10	trading	trading	NOUN
fbem-2780	15	11	species	specie	NOUN
fbem-2780	15	12	date	date	NOUN
fbem-2780	15	13	latest	late	ADJ
fbem-2780	15	14	up	up	ADP
fbem-2780	15	15	or	or	CCONJ
fbem-2780	15	16	down	down	ADP
fbem-2780	15	17	highest	highest	ADV
fbem-2780	15	18	lowest	low	ADJ
fbem-2780	15	19	volume	volume	NOUN
fbem-2780	15	20	turnover	turnover	NOUN
fbem-2780	15	21	yesterday	yesterday	NOUN
fbem-2780	15	22	's	's	PART
fbem-2780	15	23	closing	closing	NOUN
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fbem-2780	15	25	hbea	hbea	ADJ
fbem-2780	15	26	2019	2019	NUM
fbem-2780	15	27	-	-	SYM
fbem-2780	15	28	01	01	NUM
fbem-2780	15	29	-	-	SYM
fbem-2780	15	30	02	02	NUM
fbem-2780	15	31	31.02	31.02	NUM
fbem-2780	15	32	-0.83	-0.83	NUM
fbem-2780	15	33	%	%	NOUN
fbem-2780	15	34	31.95	31.95	NUM
fbem-2780	15	35	28.5	28.5	NUM
fbem-2780	15	36	10109.0	10109.0	NUM
fbem-2780	15	37	303130.55	303130.55	NUM
fbem-2780	15	38	31.28	31.28	NUM
fbem-2780	15	39	hbea	hbea	PROPN
fbem-2780	15	40	2019	2019	NUM
fbem-2780	15	41	-	-	SYM
fbem-2780	15	42	02	02	NUM
fbem-2780	15	43	-	-	PUNCT
fbem-2780	15	44	01	01	NUM
fbem-2780	15	45	29.19	29.19	NUM
fbem-2780	15	46	-1.39	-1.39	NOUN
fbem-2780	15	47	%	%	NOUN
fbem-2780	15	48	32.5	32.5	NUM
fbem-2780	15	49	27.62	27.62	NUM
fbem-2780	15	50	191.0	191.0	NUM
fbem-2780	15	51	5482.92	5482.92	NUM
fbem-2780	15	52	29.60	29.60	NUM
fbem-2780	15	53	hbea	hbea	ADJ
fbem-2780	15	54	2019	2019	NUM
fbem-2780	15	55	-	-	SYM
fbem-2780	15	56	03	03	NUM
fbem-2780	15	57	-	-	SYM
fbem-2780	15	58	01	01	NUM
fbem-2780	15	59	28.5	28.5	NUM
fbem-2780	15	60	-1.35	-1.35	NUM
fbem-2780	15	61	%	%	NOUN
fbem-2780	15	62	28.89	28.89	NUM
fbem-2780	15	63	28.0	28.0	NUM
fbem-2780	15	64	5202.0	5202.0	NUM
fbem-2780	15	65	147558.99	147558.99	NUM
fbem-2780	15	66	28.89	28.89	NUM
fbem-2780	15	67	hbea	hbea	ADJ
fbem-2780	15	68	2019	2019	NUM
fbem-2780	15	69	-	-	PUNCT
fbem-2780	15	70	04	04	NUM
fbem-2780	15	71	-	-	PUNCT
fbem-2780	15	72	01	01	NUM
fbem-2780	15	73	28.99	28.99	NUM
fbem-2780	15	74	2.47	2.47	NUM
fbem-2780	15	75	%	%	NOUN
fbem-2780	15	76	29.85	29.85	NUM
fbem-2780	15	77	25.8	25.8	NUM
fbem-2780	15	78	8867.0	8867.0	NUM
fbem-2780	15	79	245628.18	245628.18	NUM
fbem-2780	15	80	28.29	28.29	NUM
fbem-2780	15	81	hbea	hbea	PROPN
fbem-2780	15	82	2019	2019	NUM
fbem-2780	15	83	-	-	SYM
fbem-2780	15	84	05	05	NUM
fbem-2780	15	85	-	-	PUNCT
fbem-2780	15	86	06	06	NUM
fbem-2780	15	87	32.88	32.88	NUM
fbem-2780	15	88	7.84	7.84	NUM
fbem-2780	15	89	%	%	NOUN
fbem-2780	15	90	33.1	33.1	NUM
fbem-2780	15	91	29.13	29.13	NUM
fbem-2780	15	92	667.0	667.0	NUM
fbem-2780	15	93	21864.93	21864.93	NUM
fbem-2780	15	94	30.49	30.49	NUM
fbem-2780	15	95	hbea	hbea	PROPN
fbem-2780	15	96	2019	2019	NUM
fbem-2780	15	97	-	-	SYM
fbem-2780	15	98	06	06	NUM
fbem-2780	15	99	-	-	SYM
fbem-2780	15	100	03	03	NUM
fbem-2780	15	101	52.43	52.43	NUM
fbem-2780	15	102	1.63	1.63	NUM
fbem-2780	15	103	%	%	NOUN
fbem-2780	15	104	56.0	56.0	NUM
fbem-2780	15	105	50.0	50.0	NUM
fbem-2780	15	106	19340.0	19340.0	NUM
fbem-2780	15	107	1056744.76	1056744.76	NUM
fbem-2780	15	108	51.59	51.59	NUM
fbem-2780	15	109	hbea	hbea	PROPN
fbem-2780	15	110	2019	2019	NUM
fbem-2780	15	111	-	-	SYM
fbem-2780	15	112	07	07	NUM
fbem-2780	15	113	-	-	PUNCT
fbem-2780	15	114	01	01	NUM
fbem-2780	15	115	37.76	37.76	NUM
fbem-2780	15	116	-1.87	-1.87	NUM
fbem-2780	15	117	%	%	NOUN
fbem-2780	15	118	42.09	42.09	NUM
fbem-2780	15	119	34.63	34.63	NUM
fbem-2780	15	120	1123.0	1123.0	NUM
fbem-2780	15	121	42704.94	42704.94	NUM
fbem-2780	15	122	38.48	38.48	NUM
fbem-2780	15	123	hbea	hbea	PROPN
fbem-2780	15	124	2019	2019	NUM
fbem-2780	15	125	-	-	SYM
fbem-2780	15	126	08	08	NUM
fbem-2780	15	127	-	-	SYM
fbem-2780	15	128	01	01	NUM
fbem-2780	15	129	38.6	38.6	NUM
fbem-2780	15	130	-5.07	-5.07	NUM
fbem-2780	15	131	%	%	NOUN
fbem-2780	15	132	44.5	44.5	NUM
fbem-2780	15	133	38.5	38.5	NUM
fbem-2780	15	134	5174.0	5174.0	NUM
fbem-2780	15	135	200537.77	200537.77	NUM
fbem-2780	15	136	40.66	40.66	NUM
fbem-2780	15	137	hbea	hbea	PROPN
fbem-2780	15	138	2019	2019	NUM
fbem-2780	15	139	-	-	SYM
fbem-2780	15	140	09	09	NUM
fbem-2780	15	141	-	-	SYM
fbem-2780	15	142	02	02	NUM
fbem-2780	15	143	34.93	34.93	NUM
fbem-2780	15	144	1.04	1.04	NUM
fbem-2780	15	145	%	%	NOUN
fbem-2780	15	146	35.49	35.49	NUM
fbem-2780	15	147	34.12	34.12	NUM
fbem-2780	15	148	71121.0	71121.0	NUM
fbem-2780	15	149	2470959.23	2470959.23	NUM
fbem-2780	15	150	34.57	34.57	NUM
fbem-2780	15	151	hbea	hbea	PROPN
fbem-2780	15	152	2019	2019	NUM
fbem-2780	15	153	-	-	SYM
fbem-2780	15	154	10	10	NUM
fbem-2780	15	155	-	-	SYM
fbem-2780	15	156	08	08	NUM
fbem-2780	15	157	33.42	33.42	NUM
fbem-2780	15	158	2.48	2.48	NUM
fbem-2780	15	159	%	%	NOUN
fbem-2780	15	160	35.4	35.4	NUM
fbem-2780	15	161	31.0	31.0	NUM
fbem-2780	15	162	5338.0	5338.0	NUM
fbem-2780	15	163	170863.23	170863.23	NUM
fbem-2780	15	164	32.61	32.61	NUM
fbem-2780	15	165	hbea	hbea	PROPN
fbem-2780	15	166	2019	2019	NUM
fbem-2780	15	167	-	-	SYM
fbem-2780	15	168	11	11	NUM
fbem-2780	15	169	-	-	SYM
fbem-2780	15	170	01	01	NUM
fbem-2780	15	171	30.95	30.95	NUM
fbem-2780	15	172	2.96	2.96	NUM
fbem-2780	15	173	%	%	NOUN
fbem-2780	15	174	31.47	31.47	NUM
fbem-2780	15	175	27.5	27.5	NUM
fbem-2780	15	176	1523.0	1523.0	NUM
fbem-2780	15	177	44926.38	44926.38	NUM
fbem-2780	15	178	30.06	30.06	NUM
fbem-2780	15	179	hbea	hbea	PROPN
fbem-2780	15	180	2019	2019	NUM
fbem-2780	15	181	-	-	SYM
fbem-2780	15	182	12	12	NUM
fbem-2780	15	183	-	-	SYM
fbem-2780	15	184	02	02	NUM
fbem-2780	15	185	25.16	25.16	NUM
fbem-2780	15	186	1.70	1.70	NUM
fbem-2780	15	187	%	%	NOUN
fbem-2780	15	188	25.95	25.95	NUM
fbem-2780	15	189	24.01	24.01	NUM
fbem-2780	15	190	99584.0	99584.0	NUM
fbem-2780	15	191	2450086.12	2450086.12	NUM
fbem-2780	15	192	24.74	24.74	NUM
fbem-2780	15	193	hbea	hbea	ADJ
fbem-2780	15	194	2020	2020	NUM
fbem-2780	15	195	-	-	SYM
fbem-2780	15	196	01	01	NUM
fbem-2780	15	197	-	-	SYM
fbem-2780	15	198	02	02	NUM
fbem-2780	15	199	27.96	27.96	NUM
fbem-2780	15	200	4.88	4.88	NUM
fbem-2780	15	201	%	%	NOUN
fbem-2780	15	202	27.96	27.96	NUM
fbem-2780	15	203	26.52	26.52	NUM
fbem-2780	15	204	3005.0	3005.0	NUM
fbem-2780	15	205	79699.80	79699.80	NUM
fbem-2780	15	206	26.66	26.66	NUM
fbem-2780	15	207	hbea	hbea	PROPN
fbem-2780	15	208	2020	2020	NUM
fbem-2780	15	209	-	-	SYM
fbem-2780	15	210	03	03	NUM
fbem-2780	15	211	-	-	SYM
fbem-2780	15	212	23	23	NUM
fbem-2780	15	213	25.59	25.59	NUM
fbem-2780	15	214	-6.40	-6.40	PRON
fbem-2780	15	215	%	%	NOUN
fbem-2780	15	216	27.34	27.34	NUM
fbem-2780	15	217	24.62	24.62	NUM
fbem-2780	15	218	740.0	740.0	NUM
fbem-2780	15	219	18465.42	18465.42	NUM
fbem-2780	15	220	27.34	27.34	NUM
fbem-2780	15	221	hbea	hbea	ADJ
fbem-2780	15	222	2020	2020	NUM
fbem-2780	15	223	-	-	SYM
fbem-2780	15	224	04	04	NUM
fbem-2780	15	225	-	-	PUNCT
fbem-2780	15	226	01	01	NUM
fbem-2780	15	227	25.89	25.89	NUM
fbem-2780	15	228	-0.27	-0.27	NOUN
fbem-2780	15	229	%	%	NOUN
fbem-2780	15	230	27.93	27.93	NUM
fbem-2780	15	231	25.01	25.01	NUM
fbem-2780	15	232	251.0	251.0	NUM
fbem-2780	15	233	6360.44	6360.44	NUM
fbem-2780	15	234	25.96	25.96	NUM
fbem-2780	15	235	hbea	hbea	PROPN
fbem-2780	15	236	2020	2020	NUM
fbem-2780	15	237	-	-	SYM
fbem-2780	15	238	05	05	NUM
fbem-2780	15	239	-	-	PUNCT
fbem-2780	15	240	06	06	NUM
fbem-2780	15	241	25.5	25.5	NUM
fbem-2780	15	242	-1.66	-1.66	NUM
fbem-2780	15	243	%	%	NOUN
fbem-2780	15	244	25.99	25.99	NUM
fbem-2780	15	245	25.0	25.0	NUM
fbem-2780	15	246	46676.0	46676.0	NUM
fbem-2780	15	247	1169395.39	1169395.39	NUM
fbem-2780	15	248	25.93	25.93	NUM
fbem-2780	15	249	hbea	hbea	PROPN
fbem-2780	15	250	2020	2020	NUM
fbem-2780	15	251	-	-	SYM
fbem-2780	15	252	06	06	NUM
fbem-2780	15	253	-	-	SYM
fbem-2780	15	254	01	01	NUM
fbem-2780	15	255	25.2	25.2	NUM
fbem-2780	15	256	-0.36	-0.36	NUM
fbem-2780	15	257	%	%	NOUN
fbem-2780	15	258	26.88	26.88	NUM
fbem-2780	15	259	24.5	24.5	NUM
fbem-2780	15	260	2595.0	2595.0	NUM
fbem-2780	15	261	66472.78	66472.78	NUM
fbem-2780	15	262	25.29	25.29	NUM
fbem-2780	15	263	hbea	hbea	ADJ
fbem-2780	15	264	2020	2020	NUM
fbem-2780	15	265	-	-	SYM
fbem-2780	15	266	07	07	NUM
fbem-2780	15	267	-	-	PUNCT
fbem-2780	15	268	01	01	NUM
fbem-2780	15	269	26.39	26.39	NUM
fbem-2780	15	270	5.10	5.10	NUM
fbem-2780	15	271	%	%	NOUN
fbem-2780	15	272	27.55	27.55	NUM
fbem-2780	15	273	23.01	23.01	NUM
fbem-2780	15	274	69245.0	69245.0	NUM
fbem-2780	15	275	1803286.57	1803286.57	NUM
fbem-2780	15	276	25.11	25.11	NUM
fbem-2780	15	277	hbea	hbea	PROPN
fbem-2780	15	278	2020	2020	NUM
fbem-2780	15	279	-	-	SYM
fbem-2780	15	280	08	08	NUM
fbem-2780	15	281	-	-	SYM
fbem-2780	15	282	03	03	NUM
fbem-2780	15	283	27.8	27.8	NUM
fbem-2780	15	284	0.00	0.00	NUM
fbem-2780	15	285	%	%	NOUN
fbem-2780	15	286	28.16	28.16	NUM
fbem-2780	15	287	25.23	25.23	NUM
fbem-2780	15	288	112667.0	112667.0	NUM
fbem-2780	15	289	3129675.97	3129675.97	NUM
fbem-2780	15	290	27.80	27.80	NUM
fbem-2780	15	291	hbea	hbea	PROPN
fbem-2780	15	292	2020	2020	NUM
fbem-2780	15	293	-	-	SYM
fbem-2780	15	294	09	09	NUM
fbem-2780	15	295	-	-	SYM
fbem-2780	15	296	01	01	NUM
fbem-2780	15	297	29.0	29.0	NUM
fbem-2780	15	298	0.00	0.00	NUM
fbem-2780	15	299	%	%	NOUN
fbem-2780	15	300	29.86	29.86	NUM
fbem-2780	15	301	27.5	27.5	NUM
fbem-2780	15	302	53966.0	53966.0	NUM
fbem-2780	15	303	1563457.90	1563457.90	NUM
fbem-2780	15	304	29.00	29.00	NUM
fbem-2780	15	305	hbea	hbea	PROPN
fbem-2780	15	306	2020	2020	NUM
fbem-2780	15	307	-	-	SYM
fbem-2780	15	308	10	10	NUM
fbem-2780	15	309	-	-	SYM
fbem-2780	15	310	09	09	NUM
fbem-2780	15	311	27.37	27.37	NUM
fbem-2780	15	312	-5.26	-5.26	PRON
fbem-2780	15	313	%	%	NOUN
fbem-2780	15	314	29.64	29.64	NUM
fbem-2780	15	315	26.01	26.01	NUM
fbem-2780	15	316	2131.0	2131.0	NUM
fbem-2780	15	317	58428.14	58428.14	NUM
fbem-2780	15	318	28.89	28.89	NUM
fbem-2780	15	319	hbea	hbea	ADJ
fbem-2780	15	320	2020	2020	NUM
fbem-2780	15	321	-	-	SYM
fbem-2780	15	322	11	11	NUM
fbem-2780	15	323	-	-	SYM
fbem-2780	15	324	02	02	NUM
fbem-2780	15	325	29.41	29.41	NUM
fbem-2780	15	326	-0.81	-0.81	NUM
fbem-2780	15	327	%	%	NOUN
fbem-2780	15	328	29.99	29.99	NUM
fbem-2780	15	329	28.1	28.1	NUM
fbem-2780	15	330	547.0	547.0	NUM
fbem-2780	15	331	15829.57	15829.57	NUM
fbem-2780	15	332	29.65	29.65	NUM
fbem-2780	15	333	hbea	hbea	PROPN
fbem-2780	15	334	2020	2020	NUM
fbem-2780	15	335	-	-	SYM
fbem-2780	15	336	12	12	NUM
fbem-2780	15	337	-	-	SYM
fbem-2780	15	338	01	01	NUM
fbem-2780	15	339	27.02	27.02	NUM
fbem-2780	15	340	-1.71	-1.71	NOUN
fbem-2780	15	341	%	%	NOUN
fbem-2780	15	342	27.78	27.78	NUM
fbem-2780	15	343	27.02	27.02	NUM
fbem-2780	15	344	97753.0	97753.0	NUM
fbem-2780	15	345	2687687.44	2687687.44	NUM
fbem-2780	15	346	27.49	27.49	NUM
fbem-2780	15	347	hbea	hbea	PROPN
fbem-2780	15	348	2021	2021	NUM
fbem-2780	15	349	-	-	SYM
fbem-2780	15	350	01	01	NUM
fbem-2780	15	351	-	-	PUNCT
fbem-2780	15	352	04	04	NUM
fbem-2780	15	353	28.36	28.36	NUM
fbem-2780	15	354	1.32	1.32	NUM
fbem-2780	15	355	%	%	NOUN
fbem-2780	15	356	28.38	28.38	NUM
fbem-2780	15	357	28.36	28.36	NUM
fbem-2780	15	358	5.0	5.0	NUM
fbem-2780	15	359	141.82	141.82	NUM
fbem-2780	15	360	27.99	27.99	NUM
fbem-2780	15	361	hbea	hbea	ADJ
fbem-2780	15	362	2021	2021	NUM
fbem-2780	15	363	-	-	SYM
fbem-2780	15	364	02	02	NUM
fbem-2780	15	365	-	-	PUNCT
fbem-2780	15	366	01	01	NUM
fbem-2780	15	367	30.99	30.99	NUM
fbem-2780	15	368	7.12	7.12	NUM
fbem-2780	15	369	%	%	NOUN
fbem-2780	15	370	30.99	30.99	NUM
fbem-2780	15	371	30.99	30.99	NUM
fbem-2780	15	372	5.0	5.0	NUM
fbem-2780	15	373	154.95	154.95	NUM
fbem-2780	15	374	28.93	28.93	NUM
fbem-2780	15	375	hbea	hbea	PROPN
fbem-2780	15	376	2021	2021	NUM
fbem-2780	15	377	-	-	SYM
fbem-2780	15	378	03	03	NUM
fbem-2780	15	379	-	-	SYM
fbem-2780	15	380	01	01	NUM
fbem-2780	15	381	29.99	29.99	NUM
fbem-2780	15	382	-0.03	-0.03	NUM
fbem-2780	15	383	%	%	NOUN
fbem-2780	15	384	30.0	30.0	NUM
fbem-2780	15	385	27.7	27.7	NUM
fbem-2780	15	386	452.0	452.0	NUM
fbem-2780	15	387	12625.90	12625.90	NUM
fbem-2780	15	388	30.00	30.00	NUM
fbem-2780	15	389	hbea	hbea	PROPN
fbem-2780	15	390	2021	2021	NUM
fbem-2780	15	391	-	-	SYM
fbem-2780	15	392	04	04	NUM
fbem-2780	15	393	-	-	PUNCT
fbem-2780	15	394	01	01	NUM
fbem-2780	15	395	28.99	28.99	NUM
fbem-2780	15	396	0.35	0.35	NUM
fbem-2780	15	397	%	%	NOUN
fbem-2780	15	398	31.24	31.24	NUM
fbem-2780	15	399	28.0	28.0	NUM
fbem-2780	15	400	323.0	323.0	NUM
fbem-2780	15	401	9486.50	9486.50	NUM
fbem-2780	15	402	28.89	28.89	NUM
fbem-2780	15	403	hbea	hbea	PROPN
fbem-2780	15	404	2021	2021	NUM
fbem-2780	15	405	-	-	SYM
fbem-2780	15	406	05	05	NUM
fbem-2780	15	407	-	-	PUNCT
fbem-2780	15	408	06	06	NUM
fbem-2780	15	409	30.99	30.99	NUM
fbem-2780	15	410	3.30	3.30	NUM
fbem-2780	15	411	%	%	NOUN
fbem-2780	15	412	32.98	32.98	NUM
fbem-2780	15	413	29.6	29.6	NUM
fbem-2780	15	414	948.0	948.0	NUM
fbem-2780	15	415	29343.55	29343.55	NUM
fbem-2780	15	416	30.00	30.00	NUM
fbem-2780	15	417	hbea	hbea	PROPN
fbem-2780	15	418	2021	2021	NUM
fbem-2780	15	419	-	-	SYM
fbem-2780	15	420	06	06	NUM
fbem-2780	15	421	-	-	SYM
fbem-2780	15	422	01	01	NUM
fbem-2780	15	423	30.98	30.98	NUM
fbem-2780	15	424	-6.23	-6.23	NOUN
fbem-2780	15	425	%	%	NOUN
fbem-2780	15	426	34.4	34.4	NUM
fbem-2780	15	427	30.0	30.0	NUM
fbem-2780	15	428	108689.0	108689.0	NUM
fbem-2780	15	429	3691517.11	3691517.11	NUM
fbem-2780	15	430	33.04	33.04	NUM
fbem-2780	15	431	hbea	hbea	PROPN
fbem-2780	15	432	2021	2021	NUM
fbem-2780	15	433	-	-	SYM
fbem-2780	15	434	07	07	NUM
fbem-2780	15	435	-	-	PUNCT
fbem-2780	15	436	02	02	NUM
fbem-2780	15	437	31.75	31.75	NUM
fbem-2780	15	438	-3.76	-3.76	NUM
fbem-2780	15	439	%	%	NOUN
fbem-2780	15	440	32.98	32.98	NUM
fbem-2780	15	441	31.57	31.57	NUM
fbem-2780	15	442	172.0	172.0	NUM
fbem-2780	15	443	5510.72	5510.72	NUM
fbem-2780	15	444	32.99	32.99	NUM
fbem-2780	15	445	hbea	hbea	ADJ
fbem-2780	15	446	2021	2021	NUM
fbem-2780	15	447	-	-	SYM
fbem-2780	15	448	08	08	NUM
fbem-2780	15	449	-	-	SYM
fbem-2780	15	450	02	02	NUM
fbem-2780	15	451	42.28	42.28	NUM
fbem-2780	15	452	5.28	5.28	NUM
fbem-2780	15	453	%	%	NOUN
fbem-2780	15	454	44.06	44.06	NUM
fbem-2780	15	455	41.0	41.0	NUM
fbem-2780	15	456	6166.0	6166.0	NUM
fbem-2780	15	457	262185.14	262185.14	NUM
fbem-2780	15	458	40.16	40.16	NUM
fbem-2780	15	459	hbea	hbea	ADJ
fbem-2780	15	460	2021	2021	NUM
fbem-2780	15	461	-	-	SYM
fbem-2780	15	462	09	09	NUM
fbem-2780	15	463	-	-	PUNCT
fbem-2780	15	464	01	01	NUM
fbem-2780	15	465	40.05	40.05	NUM
fbem-2780	15	466	-0.52	-0.52	NUM
fbem-2780	15	467	%	%	NOUN
fbem-2780	15	468	42.89	42.89	NUM
fbem-2780	15	469	40.05	40.05	NUM
fbem-2780	15	470	6998.0	6998.0	NUM
fbem-2780	15	471	289734.22	289734.22	NUM
fbem-2780	15	472	40.26	40.26	NUM
fbem-2780	15	473	hbea	hbea	PROPN
fbem-2780	15	474	2021	2021	NUM
fbem-2780	15	475	-	-	SYM
fbem-2780	15	476	10	10	NUM
fbem-2780	15	477	-	-	SYM
fbem-2780	15	478	08	08	NUM
fbem-2780	15	479	40.9	40.9	NUM
fbem-2780	15	480	0.99	0.99	NUM
fbem-2780	15	481	%	%	NOUN
fbem-2780	15	482	41.6	41.6	NUM
fbem-2780	15	483	39.0	39.0	NUM
fbem-2780	15	484	2771.0	2771.0	NUM
fbem-2780	15	485	110578.59	110578.59	NUM
fbem-2780	15	486	40.50	40.50	NUM
fbem-2780	15	487	hbea	hbea	PROPN
fbem-2780	15	488	2021	2021	NUM
fbem-2780	15	489	-	-	SYM
fbem-2780	15	490	11	11	NUM
fbem-2780	15	491	-	-	SYM
fbem-2780	15	492	01	01	NUM
fbem-2780	15	493	41.1	41.1	NUM
fbem-2780	15	494	-0.92	-0.92	ADP
fbem-2780	15	495	%	%	NOUN
fbem-2780	15	496	42.44	42.44	NUM
fbem-2780	15	497	40.02	40.02	NUM
fbem-2780	15	498	7944.0	7944.0	NUM
fbem-2780	15	499	327624.86	327624.86	NUM
fbem-2780	15	500	41.48	41.48	NUM
fbem-2780	15	501	hbea	hbea	PROPN
fbem-2780	15	502	2021	2021	NUM
fbem-2780	15	503	-	-	SYM
fbem-2780	15	504	12	12	NUM
fbem-2780	15	505	-	-	SYM
fbem-2780	15	506	22	22	NUM
fbem-2780	15	507	38.52	38.52	NUM
fbem-2780	15	508	-0.98	-0.98	NUM
fbem-2780	15	509	%	%	NOUN
fbem-2780	15	510	39.5	39.5	NUM
fbem-2780	15	511	38.51	38.51	NUM
fbem-2780	15	512	84106.0	84106.0	NUM
fbem-2780	15	513	3254930.61	3254930.61	NUM
fbem-2780	15	514	38.90	38.90	NUM
fbem-2780	15	515	63	63	NUM
fbem-2780	15	516	stability	stability	NOUN
fbem-2780	15	517	is	be	AUX
fbem-2780	15	518	higher	high	ADJ
fbem-2780	15	519	in	in	ADP
fbem-2780	15	520	ave	ave	PROPN
fbem-2780	15	521	.	.	PUNCT
fbem-2780	16	1	zhou	zhou	PROPN
fbem-2780	16	2	chang	chang	PROPN
fbem-2780	16	3	et	et	PROPN
fbem-2780	16	4	al	al	PROPN
fbem-2780	16	5	.	.	PROPN
fbem-2780	16	6	(	(	PUNCT
fbem-2780	16	7	2020	2020	NUM
fbem-2780	16	8	)	)	PUNCT
fbem-2780	16	9	showed	show	VERB
fbem-2780	16	10	that	that	SCONJ
fbem-2780	16	11	the	the	DET
fbem-2780	16	12	implementation	implementation	NOUN
fbem-2780	16	13	of	of	ADP
fbem-2780	16	14	carbon	carbon	NOUN
fbem-2780	16	15	emissions	emission	NOUN
fbem-2780	16	16	trading	trading	NOUN
fbem-2780	16	17	does	do	AUX
fbem-2780	16	18	not	not	PART
fbem-2780	16	19	yet	yet	ADV
fbem-2780	16	20	promote	promote	VERB
fbem-2780	16	21	chinese	chinese	ADJ
fbem-2780	16	22	enterprises	enterprise	NOUN
fbem-2780	16	23	to	to	PART
fbem-2780	16	24	increase	increase	VERB
fbem-2780	16	25	their	their	PRON
fbem-2780	16	26	r&d	r&d	NOUN
fbem-2780	16	27	investment	investment	NOUN
fbem-2780	16	28	,	,	PUNCT
fbem-2780	16	29	and	and	CCONJ
fbem-2780	16	30	suggested	suggest	VERB
fbem-2780	16	31	that	that	SCONJ
fbem-2780	16	32	we	we	PRON
fbem-2780	16	33	should	should	AUX
fbem-2780	16	34	promote	promote	VERB
fbem-2780	16	35	active	active	ADJ
fbem-2780	16	36	participation	participation	NOUN
fbem-2780	16	37	in	in	ADP
fbem-2780	16	38	carbon	carbon	NOUN
fbem-2780	16	39	emissions	emission	NOUN
fbem-2780	16	40	trading	trading	NOUN
fbem-2780	16	41	and	and	CCONJ
fbem-2780	16	42	enhance	enhance	VERB
fbem-2780	16	43	the	the	DET
fbem-2780	16	44	role	role	NOUN
fbem-2780	16	45	of	of	ADP
fbem-2780	16	46	carbon	carbon	NOUN
fbem-2780	16	47	information	information	NOUN
fbem-2780	16	48	in	in	ADP
fbem-2780	16	49	enhancing	enhance	VERB
fbem-2780	16	50	corporate	corporate	ADJ
fbem-2780	16	51	value	value	NOUN
fbem-2780	16	52	.	.	PUNCT
fbem-2780	17	1	xin	xin	PROPN
fbem-2780	17	2	jiang	jiang	PROPN
fbem-2780	17	3	et	et	PROPN
fbem-2780	17	4	al	al	PROPN
fbem-2780	17	5	.	.	PROPN
fbem-2780	18	1	(	(	PUNCT
fbem-2780	18	2	2018	2018	NUM
fbem-2780	18	3	)	)	PUNCT
fbem-2780	18	4	argue	argue	VERB
fbem-2780	18	5	that	that	SCONJ
fbem-2780	18	6	the	the	DET
fbem-2780	18	7	carbon	carbon	NOUN
fbem-2780	18	8	trading	trading	NOUN
fbem-2780	18	9	market	market	NOUN
fbem-2780	18	10	is	be	AUX
fbem-2780	18	11	currently	currently	ADV
fbem-2780	18	12	at	at	ADP
fbem-2780	18	13	a	a	DET
fbem-2780	18	14	low	low	ADJ
fbem-2780	18	15	volatility	volatility	NOUN
fbem-2780	18	16	stage	stage	NOUN
fbem-2780	18	17	,	,	PUNCT
fbem-2780	18	18	with	with	ADP
fbem-2780	18	19	low	low	ADJ
fbem-2780	18	20	linkage	linkage	NOUN
fbem-2780	18	21	to	to	ADP
fbem-2780	18	22	other	other	ADJ
fbem-2780	18	23	factor	factor	NOUN
fbem-2780	18	24	markets	market	NOUN
fbem-2780	18	25	,	,	PUNCT
fbem-2780	18	26	as	as	ADV
fbem-2780	18	27	well	well	ADV
fbem-2780	18	28	as	as	ADP
fbem-2780	18	29	the	the	DET
fbem-2780	18	30	current	current	ADJ
fbem-2780	18	31	imperfect	imperfect	ADJ
fbem-2780	18	32	system	system	NOUN
fbem-2780	18	33	and	and	CCONJ
fbem-2780	18	34	opaque	opaque	ADJ
fbem-2780	18	35	information	information	NOUN
fbem-2780	18	36	in	in	ADP
fbem-2780	18	37	the	the	DET
fbem-2780	18	38	carbon	carbon	NOUN
fbem-2780	18	39	emission	emission	NOUN
fbem-2780	18	40	trading	trading	NOUN
fbem-2780	18	41	market	market	NOUN
fbem-2780	18	42	.	.	PUNCT
fbem-2780	19	1	economic	economic	ADJ
fbem-2780	19	2	recovery	recovery	NOUN
fbem-2780	19	3	and	and	CCONJ
fbem-2780	19	4	sustainable	sustainable	ADJ
fbem-2780	19	5	development	development	NOUN
fbem-2780	19	6	are	be	AUX
fbem-2780	19	7	important	important	ADJ
fbem-2780	19	8	issues	issue	NOUN
fbem-2780	19	9	of	of	ADP
fbem-2780	19	10	common	common	ADJ
fbem-2780	19	11	global	global	ADJ
fbem-2780	19	12	concern	concern	NOUN
fbem-2780	19	13	,	,	PUNCT
fbem-2780	19	14	and	and	CCONJ
fbem-2780	19	15	the	the	DET
fbem-2780	19	16	existing	exist	VERB
fbem-2780	19	17	research	research	NOUN
fbem-2780	19	18	on	on	ADP
fbem-2780	19	19	the	the	DET
fbem-2780	19	20	carbon	carbon	NOUN
fbem-2780	19	21	trading	trading	NOUN
fbem-2780	19	22	financial	financial	ADJ
fbem-2780	19	23	market	market	NOUN
fbem-2780	19	24	should	should	AUX
fbem-2780	19	25	not	not	PART
fbem-2780	19	26	only	only	ADV
fbem-2780	19	27	focus	focus	VERB
fbem-2780	19	28	on	on	ADP
fbem-2780	19	29	the	the	DET
fbem-2780	19	30	establishment	establishment	NOUN
fbem-2780	19	31	of	of	ADP
fbem-2780	19	32	the	the	DET
fbem-2780	19	33	basic	basic	ADJ
fbem-2780	19	34	framework	framework	NOUN
fbem-2780	19	35	,	,	PUNCT
fbem-2780	19	36	but	but	CCONJ
fbem-2780	19	37	also	also	ADV
fbem-2780	19	38	aim	aim	VERB
fbem-2780	19	39	to	to	PART
fbem-2780	19	40	address	address	VERB
fbem-2780	19	41	the	the	DET
fbem-2780	19	42	analysis	analysis	NOUN
fbem-2780	19	43	of	of	ADP
fbem-2780	19	44	the	the	DET
fbem-2780	19	45	basic	basic	ADJ
fbem-2780	19	46	laws	law	NOUN
fbem-2780	19	47	of	of	ADP
fbem-2780	19	48	the	the	DET
fbem-2780	19	49	market	market	NOUN
fbem-2780	19	50	.	.	PUNCT
fbem-2780	20	1	2	2	X
fbem-2780	20	2	.	.	X
fbem-2780	20	3	indicator	indicator	NOUN
fbem-2780	20	4	system	system	NOUN
fbem-2780	20	5	construction	construction	NOUN
fbem-2780	20	6	and	and	CCONJ
fbem-2780	20	7	data	datum	NOUN
fbem-2780	20	8	sources	source	NOUN
fbem-2780	20	9	based	base	VERB
fbem-2780	20	10	on	on	ADP
fbem-2780	20	11	the	the	DET
fbem-2780	20	12	above	above	ADJ
fbem-2780	20	13	research	research	NOUN
fbem-2780	20	14	,	,	PUNCT
fbem-2780	20	15	this	this	DET
fbem-2780	20	16	paper	paper	NOUN
fbem-2780	20	17	intends	intend	VERB
fbem-2780	20	18	to	to	PART
fbem-2780	20	19	select	select	VERB
fbem-2780	20	20	three	three	NUM
fbem-2780	20	21	carbon	carbon	NOUN
fbem-2780	20	22	emission	emission	NOUN
fbem-2780	20	23	exchanges	exchange	NOUN
fbem-2780	20	24	in	in	ADP
fbem-2780	20	25	tianjin	tianjin	PROPN
fbem-2780	20	26	,	,	PUNCT
fbem-2780	20	27	guangzhou	guangzhou	PROPN
fbem-2780	20	28	and	and	CCONJ
fbem-2780	20	29	hubei	hubei	PROPN
fbem-2780	20	30	for	for	ADP
fbem-2780	20	31	the	the	DET
fbem-2780	20	32	period	period	NOUN
fbem-2780	20	33	of	of	ADP
fbem-2780	20	34	2019	2019	NUM
fbem-2780	20	35	-	-	SYM
fbem-2780	20	36	2021	2021	NUM
fbem-2780	20	37	,	,	PUNCT
fbem-2780	20	38	and	and	CCONJ
fbem-2780	20	39	analyze	analyze	VERB
fbem-2780	20	40	them	they	PRON
fbem-2780	20	41	in	in	ADP
fbem-2780	20	42	a	a	DET
fbem-2780	20	43	cross	cross	ADJ
fbem-2780	20	44	-	-	ADJ
fbem-2780	20	45	sectional	sectional	ADJ
fbem-2780	20	46	and	and	CCONJ
fbem-2780	20	47	longitudinal	longitudinal	ADJ
fbem-2780	20	48	manner	manner	NOUN
fbem-2780	20	49	,	,	PUNCT
fbem-2780	20	50	and	and	CCONJ
fbem-2780	20	51	draw	draw	VERB
fbem-2780	20	52	on	on	ADP
fbem-2780	20	53	the	the	DET
fbem-2780	20	54	garch	garch	NOUN
fbem-2780	20	55	-	-	PUNCT
fbem-2780	20	56	m	m	NOUN
fbem-2780	20	57	model	model	NOUN
fbem-2780	20	58	to	to	PART
fbem-2780	20	59	analyze	analyze	VERB
fbem-2780	20	60	the	the	DET
fbem-2780	20	61	data	datum	NOUN
fbem-2780	20	62	by	by	ADP
fbem-2780	20	63	taking	take	VERB
fbem-2780	20	64	the	the	DET
fbem-2780	20	65	logarithmic	logarithmic	ADJ
fbem-2780	20	66	rate	rate	NOUN
fbem-2780	20	67	of	of	ADP
fbem-2780	20	68	return	return	NOUN
fbem-2780	20	69	.	.	PUNCT
fbem-2780	21	1	we	we	PRON
fbem-2780	21	2	can	can	AUX
fbem-2780	21	3	find	find	VERB
fbem-2780	21	4	from	from	ADP
fbem-2780	21	5	the	the	DET
fbem-2780	21	6	table	table	NOUN
fbem-2780	21	7	that	that	SCONJ
fbem-2780	21	8	tianjin	tianjin	PROPN
fbem-2780	21	9	carbon	carbon	PROPN
fbem-2780	21	10	emission	emission	NOUN
fbem-2780	21	11	trading	trading	NOUN
fbem-2780	21	12	market	market	NOUN
fbem-2780	21	13	is	be	AUX
fbem-2780	21	14	more	more	ADV
fbem-2780	21	15	volatile	volatile	ADJ
fbem-2780	21	16	,	,	PUNCT
fbem-2780	21	17	with	with	ADP
fbem-2780	21	18	the	the	DET
fbem-2780	21	19	highest	high	ADJ
fbem-2780	21	20	average	average	ADJ
fbem-2780	21	21	transaction	transaction	NOUN
fbem-2780	21	22	price	price	NOUN
fbem-2780	21	23	and	and	CCONJ
fbem-2780	21	24	the	the	DET
fbem-2780	21	25	highest	high	ADJ
fbem-2780	21	26	volume	volume	NOUN
fbem-2780	21	27	among	among	ADP
fbem-2780	21	28	the	the	DET
fbem-2780	21	29	three	three	NUM
fbem-2780	21	30	trading	trading	NOUN
fbem-2780	21	31	pilots	pilot	NOUN
fbem-2780	21	32	;	;	PUNCT
fbem-2780	21	33	guangzhou	guangzhou	PROPN
fbem-2780	21	34	carbon	carbon	NOUN
fbem-2780	21	35	emission	emission	NOUN
fbem-2780	21	36	trading	trading	NOUN
fbem-2780	21	37	market	market	NOUN
fbem-2780	21	38	ranks	rank	VERB
fbem-2780	21	39	second	second	ADV
fbem-2780	21	40	in	in	ADP
fbem-2780	21	41	terms	term	NOUN
fbem-2780	21	42	of	of	ADP
fbem-2780	21	43	volume	volume	NOUN
fbem-2780	21	44	and	and	CCONJ
fbem-2780	21	45	the	the	DET
fbem-2780	21	46	price	price	NOUN
fbem-2780	21	47	is	be	AUX
fbem-2780	21	48	about	about	ADP
fbem-2780	21	49	half	half	NOUN
fbem-2780	21	50	of	of	ADP
fbem-2780	21	51	that	that	PRON
fbem-2780	21	52	of	of	ADP
fbem-2780	21	53	tianjin	tianjin	PROPN
fbem-2780	21	54	;	;	PUNCT
fbem-2780	21	55	and	and	CCONJ
fbem-2780	21	56	hubei	hubei	PROPN
fbem-2780	21	57	carbon	carbon	NOUN
fbem-2780	21	58	emission	emission	NOUN
fbem-2780	21	59	exchange	exchange	VERB
fbem-2780	21	60	its	its	PRON
fbem-2780	21	61	carbon	carbon	NOUN
fbem-2780	21	62	price	price	NOUN
fbem-2780	21	63	is	be	AUX
fbem-2780	21	64	roughly	roughly	ADV
fbem-2780	21	65	the	the	DET
fbem-2780	21	66	same	same	ADJ
fbem-2780	21	67	as	as	ADP
fbem-2780	21	68	that	that	PRON
fbem-2780	21	69	of	of	ADP
fbem-2780	21	70	guangzhou	guangzhou	PROPN
fbem-2780	21	71	,	,	PUNCT
fbem-2780	21	72	but	but	CCONJ
fbem-2780	21	73	lower	low	ADJ
fbem-2780	21	74	than	than	ADP
fbem-2780	21	75	the	the	DET
fbem-2780	21	76	carbon	carbon	NOUN
fbem-2780	21	77	price	price	NOUN
fbem-2780	21	78	of	of	ADP
fbem-2780	21	79	tianjin	tianjin	PROPN
fbem-2780	21	80	market	market	NOUN
fbem-2780	21	81	.	.	PUNCT
fbem-2780	22	1	3	3	X
fbem-2780	22	2	.	.	X
fbem-2780	22	3	measurement	measurement	NOUN
fbem-2780	22	4	of	of	ADP
fbem-2780	22	5	volatility	volatility	NOUN
fbem-2780	22	6	in	in	ADP
fbem-2780	22	7	china	china	PROPN
fbem-2780	22	8	's	's	PART
fbem-2780	22	9	carbon	carbon	NOUN
fbem-2780	22	10	emission	emission	NOUN
fbem-2780	22	11	trading	trading	NOUN
fbem-2780	22	12	market	market	NOUN
fbem-2780	22	13	in	in	ADP
fbem-2780	22	14	general	general	ADJ
fbem-2780	22	15	,	,	PUNCT
fbem-2780	22	16	the	the	DET
fbem-2780	22	17	trend	trend	NOUN
fbem-2780	22	18	of	of	ADP
fbem-2780	22	19	carbon	carbon	NOUN
fbem-2780	22	20	emission	emission	NOUN
fbem-2780	22	21	trading	trading	NOUN
fbem-2780	22	22	pilots	pilot	NOUN
fbem-2780	22	23	in	in	ADP
fbem-2780	22	24	the	the	DET
fbem-2780	22	25	three	three	NUM
fbem-2780	22	26	regions	region	NOUN
fbem-2780	22	27	is	be	AUX
fbem-2780	22	28	consistent	consistent	ADJ
fbem-2780	22	29	.	.	PUNCT
fbem-2780	23	1	the	the	DET
fbem-2780	23	2	average	average	ADJ
fbem-2780	23	3	price	price	NOUN
fbem-2780	23	4	of	of	ADP
fbem-2780	23	5	carbon	carbon	NOUN
fbem-2780	23	6	in	in	ADP
fbem-2780	23	7	the	the	DET
fbem-2780	23	8	three	three	NUM
fbem-2780	23	9	pilot	pilot	NOUN
fbem-2780	23	10	regions	region	NOUN
fbem-2780	23	11	is	be	AUX
fbem-2780	23	12	on	on	ADP
fbem-2780	23	13	an	an	DET
fbem-2780	23	14	upward	upward	ADJ
fbem-2780	23	15	trend	trend	NOUN
fbem-2780	23	16	from	from	ADP
fbem-2780	23	17	2019	2019	NUM
fbem-2780	23	18	to	to	ADP
fbem-2780	23	19	2021	2021	NUM
fbem-2780	23	20	.	.	PUNCT
fbem-2780	24	1	except	except	SCONJ
fbem-2780	24	2	for	for	ADP
fbem-2780	24	3	tianjin	tianjin	NOUN
fbem-2780	24	4	,	,	PUNCT
fbem-2780	24	5	which	which	PRON
fbem-2780	24	6	is	be	AUX
fbem-2780	24	7	more	more	ADV
fbem-2780	24	8	volatile	volatile	ADJ
fbem-2780	24	9	in	in	ADP
fbem-2780	24	10	2020	2020	NUM
fbem-2780	24	11	,	,	PUNCT
fbem-2780	24	12	hubei	hubei	PROPN
fbem-2780	24	13	and	and	CCONJ
fbem-2780	24	14	guangzhou	guangzhou	PROPN
fbem-2780	24	15	have	have	VERB
fbem-2780	24	16	a	a	DET
fbem-2780	24	17	stable	stable	ADJ
fbem-2780	24	18	trend	trend	NOUN
fbem-2780	24	19	in	in	ADP
fbem-2780	24	20	2020	2020	NUM
fbem-2780	24	21	,	,	PUNCT
fbem-2780	24	22	and	and	CCONJ
fbem-2780	24	23	their	their	PRON
fbem-2780	24	24	carbon	carbon	NOUN
fbem-2780	24	25	emission	emission	NOUN
fbem-2780	24	26	trading	trading	NOUN
fbem-2780	24	27	prices	price	NOUN
fbem-2780	24	28	are	be	AUX
fbem-2780	24	29	low	low	ADJ
fbem-2780	24	30	in	in	ADP
fbem-2780	24	31	the	the	DET
fbem-2780	24	32	late	late	ADJ
fbem-2780	24	33	stage	stage	NOUN
fbem-2780	24	34	of	of	ADP
fbem-2780	24	35	market	market	NOUN
fbem-2780	24	36	operation	operation	NOUN
fbem-2780	24	37	during	during	ADP
fbem-2780	24	38	2020	2020	NUM
fbem-2780	24	39	because	because	SCONJ
fbem-2780	24	40	various	various	ADJ
fbem-2780	24	41	carbon	carbon	NOUN
fbem-2780	24	42	emission	emission	NOUN
fbem-2780	24	43	pilot	pilot	NOUN
fbem-2780	24	44	policies	policy	NOUN
fbem-2780	24	45	have	have	AUX
fbem-2780	24	46	not	not	PART
fbem-2780	24	47	been	be	AUX
fbem-2780	24	48	fully	fully	ADV
fbem-2780	24	49	implemented	implement	VERB
fbem-2780	24	50	and	and	CCONJ
fbem-2780	24	51	the	the	DET
fbem-2780	24	52	carbon	carbon	NOUN
fbem-2780	24	53	financial	financial	ADJ
fbem-2780	24	54	market	market	NOUN
fbem-2780	24	55	is	be	AUX
fbem-2780	24	56	in	in	ADP
fbem-2780	24	57	its	its	PRON
fbem-2780	24	58	initial	initial	ADJ
fbem-2780	24	59	stage	stage	NOUN
fbem-2780	24	60	.	.	PUNCT
fbem-2780	25	1	from	from	ADP
fbem-2780	25	2	the	the	DET
fbem-2780	25	3	second	second	ADJ
fbem-2780	25	4	half	half	NOUN
fbem-2780	25	5	of	of	ADP
fbem-2780	25	6	2019	2019	NUM
fbem-2780	25	7	onwards	onward	NOUN
fbem-2780	25	8	,	,	PUNCT
fbem-2780	25	9	the	the	DET
fbem-2780	25	10	carbon	carbon	NOUN
fbem-2780	25	11	price	price	NOUN
fbem-2780	25	12	will	will	AUX
fbem-2780	25	13	be	be	AUX
fbem-2780	25	14	significantly	significantly	ADV
fbem-2780	25	15	higher	high	ADJ
fbem-2780	25	16	due	due	ADP
fbem-2780	25	17	to	to	ADP
fbem-2780	25	18	the	the	DET
fbem-2780	25	19	policy	policy	NOUN
fbem-2780	25	20	tone	tone	NOUN
fbem-2780	25	21	of	of	ADP
fbem-2780	25	22	national	national	ADJ
fbem-2780	25	23	and	and	CCONJ
fbem-2780	25	24	local	local	ADJ
fbem-2780	25	25	governments	government	NOUN
fbem-2780	25	26	and	and	CCONJ
fbem-2780	25	27	the	the	DET
fbem-2780	25	28	increasing	increase	VERB
fbem-2780	25	29	improvement	improvement	NOUN
fbem-2780	25	30	of	of	ADP
fbem-2780	25	31	the	the	DET
fbem-2780	25	32	carbon	carbon	NOUN
fbem-2780	25	33	market	market	NOUN
fbem-2780	25	34	system	system	NOUN
fbem-2780	25	35	.	.	PUNCT
fbem-2780	26	1	among	among	ADP
fbem-2780	26	2	the	the	DET
fbem-2780	26	3	three	three	NUM
fbem-2780	26	4	carbon	carbon	NOUN
fbem-2780	26	5	emission	emission	NOUN
fbem-2780	26	6	trading	trading	NOUN
fbem-2780	26	7	pilots	pilot	NOUN
fbem-2780	26	8	,	,	PUNCT
fbem-2780	26	9	tianjin	tianjin	PROPN
fbem-2780	26	10	has	have	VERB
fbem-2780	26	11	the	the	DET
fbem-2780	26	12	highest	high	ADJ
fbem-2780	26	13	average	average	ADJ
fbem-2780	26	14	transaction	transaction	NOUN
fbem-2780	26	15	price	price	NOUN
fbem-2780	26	16	,	,	PUNCT
fbem-2780	26	17	which	which	PRON
fbem-2780	26	18	is	be	AUX
fbem-2780	26	19	related	relate	VERB
fbem-2780	26	20	to	to	ADP
fbem-2780	26	21	the	the	DET
fbem-2780	26	22	fact	fact	NOUN
fbem-2780	26	23	that	that	SCONJ
fbem-2780	26	24	tianjin	tianjin	PROPN
fbem-2780	26	25	became	become	VERB
fbem-2780	26	26	a	a	DET
fbem-2780	26	27	carbon	carbon	NOUN
fbem-2780	26	28	emission	emission	NOUN
fbem-2780	26	29	trading	trading	NOUN
fbem-2780	26	30	pilot	pilot	NOUN
fbem-2780	26	31	earlier	early	ADV
fbem-2780	26	32	.	.	PUNCT
fbem-2780	27	1	it	it	PRON
fbem-2780	27	2	is	be	AUX
fbem-2780	27	3	worth	worth	ADJ
fbem-2780	27	4	mentioning	mention	VERB
fbem-2780	27	5	that	that	SCONJ
fbem-2780	27	6	there	there	PRON
fbem-2780	27	7	is	be	VERB
fbem-2780	27	8	a	a	DET
fbem-2780	27	9	decreasing	decrease	VERB
fbem-2780	27	10	trend	trend	NOUN
fbem-2780	27	11	of	of	ADP
fbem-2780	27	12	carbon	carbon	NOUN
fbem-2780	27	13	price	price	NOUN
fbem-2780	27	14	in	in	ADP
fbem-2780	27	15	tianjin	tianjin	PROPN
fbem-2780	27	16	between	between	ADP
fbem-2780	27	17	the	the	DET
fbem-2780	27	18	end	end	NOUN
fbem-2780	27	19	of	of	ADP
fbem-2780	27	20	2020	2020	NUM
fbem-2780	27	21	and	and	CCONJ
fbem-2780	27	22	the	the	DET
fbem-2780	27	23	beginning	beginning	NOUN
fbem-2780	27	24	of	of	ADP
fbem-2780	27	25	2021	2021	NUM
fbem-2780	27	26	,	,	PUNCT
fbem-2780	27	27	which	which	PRON
fbem-2780	27	28	is	be	AUX
fbem-2780	27	29	mainly	mainly	ADV
fbem-2780	27	30	due	due	ADJ
fbem-2780	27	31	to	to	ADP
fbem-2780	27	32	the	the	DET
fbem-2780	27	33	government	government	NOUN
fbem-2780	27	34	's	's	PART
fbem-2780	27	35	promotion	promotion	NOUN
fbem-2780	27	36	of	of	ADP
fbem-2780	27	37	the	the	DET
fbem-2780	27	38	widespread	widespread	ADJ
fbem-2780	27	39	use	use	NOUN
fbem-2780	27	40	of	of	ADP
fbem-2780	27	41	clean	clean	ADJ
fbem-2780	27	42	energy	energy	NOUN
fbem-2780	27	43	and	and	CCONJ
fbem-2780	27	44	the	the	DET
fbem-2780	27	45	significant	significant	ADJ
fbem-2780	27	46	increase	increase	NOUN
fbem-2780	27	47	of	of	ADP
fbem-2780	27	48	production	production	NOUN
fbem-2780	27	49	utility	utility	NOUN
fbem-2780	27	50	of	of	ADP
fbem-2780	27	51	enterprises	enterprise	NOUN
fbem-2780	27	52	in	in	ADP
fbem-2780	27	53	tianjin	tianjin	PROPN
fbem-2780	27	54	during	during	ADP
fbem-2780	27	55	the	the	DET
fbem-2780	27	56	same	same	ADJ
fbem-2780	27	57	period	period	NOUN
fbem-2780	27	58	,	,	PUNCT
fbem-2780	27	59	resulting	result	VERB
fbem-2780	27	60	in	in	ADP
fbem-2780	27	61	a	a	DET
fbem-2780	27	62	lower	low	ADJ
fbem-2780	27	63	demand	demand	NOUN
fbem-2780	27	64	for	for	ADP
fbem-2780	27	65	carbon	carbon	NOUN
fbem-2780	27	66	emissions	emission	NOUN
fbem-2780	27	67	.	.	PUNCT
fbem-2780	28	1	guangzhou	guangzhou	PROPN
fbem-2780	28	2	has	have	VERB
fbem-2780	28	3	a	a	DET
fbem-2780	28	4	healthy	healthy	ADJ
fbem-2780	28	5	and	and	CCONJ
fbem-2780	28	6	stable	stable	ADJ
fbem-2780	28	7	trend	trend	NOUN
fbem-2780	28	8	of	of	ADP
fbem-2780	28	9	carbon	carbon	NOUN
fbem-2780	28	10	trading	trading	NOUN
fbem-2780	28	11	price	price	NOUN
fbem-2780	28	12	compared	compare	VERB
fbem-2780	28	13	to	to	ADP
fbem-2780	28	14	the	the	DET
fbem-2780	28	15	other	other	ADJ
fbem-2780	28	16	two	two	NUM
fbem-2780	28	17	pilot	pilot	NOUN
fbem-2780	28	18	markets	market	NOUN
fbem-2780	28	19	.	.	PUNCT
fbem-2780	29	1	by	by	ADP
fbem-2780	29	2	2020	2020	NUM
fbem-2780	29	3	,	,	PUNCT
fbem-2780	29	4	the	the	DET
fbem-2780	29	5	carbon	carbon	NOUN
fbem-2780	29	6	prices	price	NOUN
fbem-2780	29	7	in	in	ADP
fbem-2780	29	8	the	the	DET
fbem-2780	29	9	three	three	NUM
fbem-2780	29	10	carbon	carbon	NOUN
fbem-2780	29	11	trading	trading	NOUN
fbem-2780	29	12	markets	market	NOUN
fbem-2780	29	13	will	will	AUX
fbem-2780	29	14	gradually	gradually	ADV
fbem-2780	29	15	stabilize	stabilize	VERB
fbem-2780	29	16	,	,	PUNCT
fbem-2780	29	17	which	which	PRON
fbem-2780	29	18	is	be	AUX
fbem-2780	29	19	directly	directly	ADV
fbem-2780	29	20	related	relate	VERB
fbem-2780	29	21	to	to	ADP
fbem-2780	29	22	the	the	DET
fbem-2780	29	23	continued	continue	VERB
fbem-2780	29	24	promotion	promotion	NOUN
fbem-2780	29	25	of	of	ADP
fbem-2780	29	26	national	national	ADJ
fbem-2780	29	27	green	green	ADJ
fbem-2780	29	28	and	and	CCONJ
fbem-2780	29	29	lowcarbon	lowcarbon	NOUN
fbem-2780	29	30	policies	policy	NOUN
fbem-2780	29	31	and	and	CCONJ
fbem-2780	29	32	the	the	DET
fbem-2780	29	33	increased	increase	VERB
fbem-2780	29	34	capacity	capacity	NOUN
fbem-2780	29	35	and	and	CCONJ
fbem-2780	29	36	efficiency	efficiency	NOUN
fbem-2780	29	37	of	of	ADP
fbem-2780	29	38	energy	energy	NOUN
fbem-2780	29	39	-	-	PUNCT
fbem-2780	29	40	producing	produce	VERB
fbem-2780	29	41	enterprises	enterprise	NOUN
fbem-2780	29	42	.	.	PUNCT
fbem-2780	30	1	in	in	ADP
fbem-2780	30	2	terms	term	NOUN
fbem-2780	30	3	of	of	ADP
fbem-2780	30	4	price	price	NOUN
fbem-2780	30	5	,	,	PUNCT
fbem-2780	30	6	the	the	DET
fbem-2780	30	7	three	three	NUM
fbem-2780	30	8	regions	region	NOUN
fbem-2780	30	9	have	have	VERB
fbem-2780	30	10	different	different	ADJ
fbem-2780	30	11	prices	price	NOUN
fbem-2780	30	12	in	in	ADP
fbem-2780	30	13	the	the	DET
fbem-2780	30	14	carbon	carbon	NOUN
fbem-2780	30	15	trading	trading	NOUN
fbem-2780	30	16	market	market	NOUN
fbem-2780	30	17	,	,	PUNCT
fbem-2780	30	18	with	with	ADP
fbem-2780	30	19	large	large	ADJ
fbem-2780	30	20	differences	difference	NOUN
fbem-2780	30	21	in	in	ADP
fbem-2780	30	22	the	the	DET
fbem-2780	30	23	highest	high	ADJ
fbem-2780	30	24	and	and	CCONJ
fbem-2780	30	25	lowest	low	ADJ
fbem-2780	30	26	prices	price	NOUN
fbem-2780	30	27	.	.	PUNCT
fbem-2780	31	1	tianjin	tianjin	PROPN
fbem-2780	31	2	has	have	VERB
fbem-2780	31	3	the	the	DET
fbem-2780	31	4	highest	high	ADJ
fbem-2780	31	5	carbon	carbon	NOUN
fbem-2780	31	6	trading	trading	NOUN
fbem-2780	31	7	price	price	NOUN
fbem-2780	31	8	,	,	PUNCT
fbem-2780	31	9	which	which	PRON
fbem-2780	31	10	is	be	AUX
fbem-2780	31	11	more	more	ADV
fbem-2780	31	12	than	than	ADP
fbem-2780	31	13	double	double	DET
fbem-2780	31	14	that	that	PRON
fbem-2780	31	15	of	of	ADP
fbem-2780	31	16	guangzhou	guangzhou	PROPN
fbem-2780	31	17	and	and	CCONJ
fbem-2780	32	1	three	three	NUM
fbem-2780	32	2	times	time	NOUN
fbem-2780	32	3	that	that	DET
fbem-2780	32	4	of	of	ADP
fbem-2780	32	5	hubei	hubei	PROPN
fbem-2780	32	6	.	.	PUNCT
fbem-2780	33	1	the	the	DET
fbem-2780	33	2	reason	reason	NOUN
fbem-2780	33	3	for	for	ADP
fbem-2780	33	4	this	this	PRON
fbem-2780	33	5	is	be	AUX
fbem-2780	33	6	that	that	SCONJ
fbem-2780	33	7	the	the	DET
fbem-2780	33	8	tianjin	tianjin	PROPN
fbem-2780	33	9	carbon	carbon	NOUN
fbem-2780	33	10	trading	trading	NOUN
fbem-2780	33	11	market	market	NOUN
fbem-2780	33	12	mechanism	mechanism	NOUN
fbem-2780	33	13	is	be	AUX
fbem-2780	33	14	more	more	ADV
fbem-2780	33	15	mature	mature	ADJ
fbem-2780	33	16	,	,	PUNCT
fbem-2780	33	17	while	while	SCONJ
fbem-2780	33	18	hubei	hubei	PROPN
fbem-2780	33	19	is	be	AUX
fbem-2780	33	20	in	in	ADP
fbem-2780	33	21	the	the	DET
fbem-2780	33	22	initial	initial	ADJ
fbem-2780	33	23	stage	stage	NOUN
fbem-2780	33	24	of	of	ADP
fbem-2780	33	25	the	the	DET
fbem-2780	33	26	market	market	NOUN
fbem-2780	33	27	in	in	ADP
fbem-2780	33	28	2018	2018	NUM
fbem-2780	33	29	,	,	PUNCT
fbem-2780	33	30	and	and	CCONJ
fbem-2780	33	31	the	the	DET
fbem-2780	33	32	trading	trading	NOUN
fbem-2780	33	33	system	system	NOUN
fbem-2780	33	34	has	have	AUX
fbem-2780	33	35	not	not	PART
fbem-2780	33	36	yet	yet	ADV
fbem-2780	33	37	been	be	AUX
fbem-2780	33	38	perfected	perfect	VERB
fbem-2780	33	39	,	,	PUNCT
fbem-2780	33	40	resulting	result	VERB
fbem-2780	33	41	in	in	ADP
fbem-2780	33	42	the	the	DET
fbem-2780	33	43	low	low	ADJ
fbem-2780	33	44	transaction	transaction	NOUN
fbem-2780	33	45	price	price	NOUN
fbem-2780	33	46	and	and	CCONJ
fbem-2780	33	47	number	number	NOUN
fbem-2780	33	48	of	of	ADP
fbem-2780	33	49	transactions	transaction	NOUN
fbem-2780	33	50	.	.	PUNCT
fbem-2780	34	1	in	in	ADP
fbem-2780	34	2	addition	addition	NOUN
fbem-2780	34	3	,	,	PUNCT
fbem-2780	34	4	carbon	carbon	NOUN
fbem-2780	34	5	quotas	quota	NOUN
fbem-2780	34	6	were	be	AUX
fbem-2780	34	7	issued	issue	VERB
fbem-2780	34	8	free	free	ADJ
fbem-2780	34	9	of	of	ADP
fbem-2780	34	10	charge	charge	NOUN
fbem-2780	34	11	at	at	ADP
fbem-2780	34	12	the	the	DET
fbem-2780	34	13	beginning	beginning	NOUN
fbem-2780	34	14	of	of	ADP
fbem-2780	34	15	the	the	DET
fbem-2780	34	16	market	market	NOUN
fbem-2780	34	17	,	,	PUNCT
fbem-2780	34	18	without	without	ADP
fbem-2780	34	19	any	any	DET
fbem-2780	34	20	capital	capital	NOUN
fbem-2780	34	21	investment	investment	NOUN
fbem-2780	34	22	by	by	ADP
fbem-2780	34	23	enterprises	enterprise	NOUN
fbem-2780	34	24	,	,	PUNCT
fbem-2780	34	25	which	which	PRON
fbem-2780	34	26	made	make	VERB
fbem-2780	34	27	the	the	DET
fbem-2780	34	28	carbon	carbon	NOUN
fbem-2780	34	29	price	price	NOUN
fbem-2780	34	30	in	in	ADP
fbem-2780	34	31	hubei	hubei	PROPN
fbem-2780	34	32	continue	continue	VERB
fbem-2780	34	33	to	to	PART
fbem-2780	34	34	be	be	AUX
fbem-2780	34	35	low	low	ADJ
fbem-2780	34	36	.	.	PUNCT
fbem-2780	35	1	in	in	ADP
fbem-2780	35	2	the	the	DET
fbem-2780	35	3	following	following	NOUN
fbem-2780	35	4	,	,	PUNCT
fbem-2780	35	5	we	we	PRON
fbem-2780	35	6	conduct	conduct	VERB
fbem-2780	35	7	an	an	DET
fbem-2780	35	8	econometric	econometric	ADJ
fbem-2780	35	9	analysis	analysis	NOUN
fbem-2780	35	10	of	of	ADP
fbem-2780	35	11	the	the	DET
fbem-2780	35	12	three	three	NUM
fbem-2780	35	13	regional	regional	ADJ
fbem-2780	35	14	carbon	carbon	NOUN
fbem-2780	35	15	trading	trading	NOUN
fbem-2780	35	16	pilots	pilot	NOUN
fbem-2780	35	17	.	.	PUNCT
fbem-2780	36	1	to	to	PART
fbem-2780	36	2	facilitate	facilitate	VERB
fbem-2780	36	3	the	the	DET
fbem-2780	36	4	data	data	NOUN
fbem-2780	36	5	interpretation	interpretation	NOUN
fbem-2780	36	6	of	of	ADP
fbem-2780	36	7	price	price	NOUN
fbem-2780	36	8	fluctuations	fluctuation	NOUN
fbem-2780	36	9	and	and	CCONJ
fbem-2780	36	10	reduce	reduce	VERB
fbem-2780	36	11	the	the	DET
fbem-2780	36	12	influence	influence	NOUN
fbem-2780	36	13	of	of	ADP
fbem-2780	36	14	heteroskedasticity	heteroskedasticity	NOUN
fbem-2780	36	15	,	,	PUNCT
fbem-2780	36	16	we	we	PRON
fbem-2780	36	17	adopt	adopt	VERB
fbem-2780	36	18	the	the	DET
fbem-2780	36	19	logarithmic	logarithmic	ADJ
fbem-2780	36	20	rate	rate	NOUN
fbem-2780	36	21	of	of	ADP
fbem-2780	36	22	return	return	NOUN
fbem-2780	36	23	approach	approach	NOUN
fbem-2780	36	24	with	with	ADP
fbem-2780	36	25	the	the	DET
fbem-2780	36	26	following	follow	VERB
fbem-2780	36	27	formula	formula	NOUN
fbem-2780	36	28	:	:	PUNCT
fbem-2780	36	29	𝑅	𝑅	PROPN
fbem-2780	36	30	ln	ln	NOUN
fbem-2780	36	31	𝑠𝑑	𝑠𝑑	NOUN
fbem-2780	37	1	ln	ln	ADV
fbem-2780	38	1	𝑠𝑑	𝑠𝑑	ADP
fbem-2780	38	2	1	1	NUM
fbem-2780	38	3	r	r	NOUN
fbem-2780	38	4	is	be	AUX
fbem-2780	38	5	the	the	DET
fbem-2780	38	6	logarithmic	logarithmic	ADJ
fbem-2780	38	7	rate	rate	NOUN
fbem-2780	38	8	of	of	ADP
fbem-2780	38	9	return	return	NOUN
fbem-2780	38	10	,	,	PUNCT
fbem-2780	38	11	and	and	CCONJ
fbem-2780	38	12	sd	sd	NOUN
fbem-2780	38	13	is	be	AUX
fbem-2780	38	14	the	the	DET
fbem-2780	38	15	average	average	ADJ
fbem-2780	38	16	daily	daily	ADJ
fbem-2780	38	17	price	price	NOUN
fbem-2780	38	18	of	of	ADP
fbem-2780	38	19	each	each	DET
fbem-2780	38	20	pilot	pilot	NOUN
fbem-2780	38	21	according	accord	VERB
fbem-2780	38	22	to	to	ADP
fbem-2780	38	23	the	the	DET
fbem-2780	38	24	above	above	ADJ
fbem-2780	38	25	three	three	NUM
fbem-2780	38	26	tables	table	NOUN
fbem-2780	38	27	,	,	PUNCT
fbem-2780	38	28	we	we	PRON
fbem-2780	38	29	can	can	AUX
fbem-2780	38	30	obviously	obviously	ADV
fbem-2780	38	31	find	find	VERB
fbem-2780	38	32	that	that	SCONJ
fbem-2780	38	33	all	all	DET
fbem-2780	38	34	three	three	NUM
fbem-2780	38	35	carbon	carbon	NOUN
fbem-2780	38	36	trading	trading	NOUN
fbem-2780	38	37	pilots	pilot	NOUN
fbem-2780	38	38	are	be	AUX
fbem-2780	38	39	volatile	volatile	ADJ
fbem-2780	38	40	and	and	CCONJ
fbem-2780	38	41	aggregated	aggregate	VERB
fbem-2780	38	42	,	,	PUNCT
fbem-2780	38	43	and	and	CCONJ
fbem-2780	38	44	there	there	PRON
fbem-2780	38	45	are	be	VERB
fbem-2780	38	46	also	also	ADV
fbem-2780	38	47	differences	difference	NOUN
fbem-2780	38	48	in	in	ADP
fbem-2780	38	49	the	the	DET
fbem-2780	38	50	volatility	volatility	NOUN
fbem-2780	38	51	of	of	ADP
fbem-2780	38	52	the	the	DET
fbem-2780	38	53	three	three	NUM
fbem-2780	38	54	markets	market	NOUN
fbem-2780	38	55	.	.	PUNCT
fbem-2780	39	1	4	4	X
fbem-2780	39	2	.	.	X
fbem-2780	39	3	macro	macro	ADJ
fbem-2780	39	4	uncertainty	uncertainty	NOUN
fbem-2780	39	5	on	on	ADP
fbem-2780	39	6	the	the	DET
fbem-2780	39	7	price	price	NOUN
fbem-2780	39	8	impact	impact	NOUN
fbem-2780	39	9	of	of	ADP
fbem-2780	39	10	china	china	PROPN
fbem-2780	39	11	's	's	PART
fbem-2780	39	12	carbon	carbon	NOUN
fbem-2780	39	13	emissions	emission	NOUN
fbem-2780	39	14	trading	trading	NOUN
fbem-2780	39	15	market	market	NOUN
fbem-2780	39	16	table	table	NOUN
fbem-2780	39	17	4	4	NUM
fbem-2780	39	18	shows	show	VERB
fbem-2780	39	19	the	the	DET
fbem-2780	39	20	descriptive	descriptive	ADJ
fbem-2780	39	21	statistics	statistic	NOUN
fbem-2780	39	22	of	of	ADP
fbem-2780	39	23	the	the	DET
fbem-2780	39	24	log	log	NOUN
fbem-2780	39	25	returns	return	NOUN
fbem-2780	39	26	of	of	ADP
fbem-2780	39	27	the	the	DET
fbem-2780	39	28	daily	daily	ADJ
fbem-2780	39	29	average	average	ADJ
fbem-2780	39	30	price	price	NOUN
fbem-2780	39	31	of	of	ADP
fbem-2780	39	32	the	the	DET
fbem-2780	39	33	carbon	carbon	NOUN
fbem-2780	39	34	market	market	NOUN
fbem-2780	39	35	.	.	PUNCT
fbem-2780	40	1	table	table	NOUN
fbem-2780	40	2	4	4	NUM
fbem-2780	40	3	.	.	PUNCT
fbem-2780	40	4	descriptive	descriptive	ADJ
fbem-2780	40	5	statistics	statistic	NOUN
fbem-2780	40	6	of	of	ADP
fbem-2780	40	7	daily	daily	ADJ
fbem-2780	40	8	average	average	ADJ
fbem-2780	40	9	price	price	NOUN
fbem-2780	40	10	log	log	NOUN
fbem-2780	40	11	returns	return	NOUN
fbem-2780	40	12	in	in	ADP
fbem-2780	40	13	the	the	DET
fbem-2780	40	14	carbon	carbon	NOUN
fbem-2780	40	15	emission	emission	NOUN
fbem-2780	40	16	market	market	NOUN
fbem-2780	40	17	region	region	NOUN
fbem-2780	40	18	mean	mean	VERB
fbem-2780	40	19	maximum	maximum	PROPN
fbem-2780	40	20	min	min	PROPN
fbem-2780	40	21	standard	standard	ADJ
fbem-2780	40	22	deviation	deviation	NOUN
fbem-2780	40	23	skewness	skewness	NOUN
fbem-2780	40	24	kurtosis	kurtosis	VERB
fbem-2780	40	25	j	j	PROPN
fbem-2780	40	26	-	-	PUNCT
fbem-2780	40	27	b	b	PROPN
fbem-2780	40	28	statistic	statistic	PROPN
fbem-2780	40	29	tianjin	tianjin	PROPN
fbem-2780	40	30	-0.002918	-0.002918	NOUN
fbem-2780	40	31	0.105361	0.105361	NUM
fbem-2780	40	32	-0.095310	-0.095310	NOUN
fbem-2780	41	1	0.031231	0.031231	NUM
fbem-2780	41	2	0.276546	0.276546	NUM
fbem-2780	41	3	6.287733	6.287733	NUM
fbem-2780	41	4	83.82637	83.82637	NUM
fbem-2780	41	5	guangzhou	guangzhou	PROPN
fbem-2780	41	6	-0.000893	-0.000893	VERB
fbem-2780	41	7	0.254991	0.254991	NUM
fbem-2780	41	8	-0.208055	-0.208055	NOUN
fbem-2780	41	9	0.079512	0.079512	NUM
fbem-2780	41	10	0.644865	0.644865	NUM
fbem-2780	41	11	4.925268	4.925268	NUM
fbem-2780	41	12	98.45109	98.45109	NUM
fbem-2780	41	13	hubei	hubei	NOUN
fbem-2780	41	14	-0.001121	-0.001121	NOUN
fbem-2780	41	15	0.105361	0.105361	NUM
fbem-2780	41	16	-0.095532	-0.095532	VERB
fbem-2780	41	17	0.029628	0.029628	NUM
fbem-2780	41	18	0.149456	0.149456	NUM
fbem-2780	41	19	6.172196	6.172196	NUM
fbem-2780	41	20	296.5282	296.5282	NUM
fbem-2780	41	21	we	we	PRON
fbem-2780	41	22	can	can	AUX
fbem-2780	41	23	observe	observe	VERB
fbem-2780	41	24	that	that	SCONJ
fbem-2780	41	25	the	the	DET
fbem-2780	41	26	mean	mean	ADJ
fbem-2780	41	27	log	log	NOUN
fbem-2780	41	28	returns	return	NOUN
fbem-2780	41	29	of	of	ADP
fbem-2780	41	30	the	the	DET
fbem-2780	41	31	three	three	NUM
fbem-2780	41	32	pilots	pilot	NOUN
fbem-2780	41	33	in	in	ADP
fbem-2780	41	34	tianjin	tianjin	PROPN
fbem-2780	41	35	,	,	PUNCT
fbem-2780	41	36	hubei	hubei	PROPN
fbem-2780	41	37	and	and	CCONJ
fbem-2780	41	38	guangzhou	guangzhou	PROPN
fbem-2780	41	39	are	be	AUX
fbem-2780	41	40	all	all	ADV
fbem-2780	41	41	negative	negative	ADJ
fbem-2780	41	42	but	but	CCONJ
fbem-2780	41	43	close	close	ADJ
fbem-2780	41	44	to	to	ADP
fbem-2780	41	45	zero	zero	NUM
fbem-2780	41	46	,	,	PUNCT
fbem-2780	41	47	indicating	indicate	VERB
fbem-2780	41	48	a	a	DET
fbem-2780	41	49	relatively	relatively	ADV
fbem-2780	41	50	stable	stable	ADJ
fbem-2780	41	51	and	and	CCONJ
fbem-2780	41	52	slightly	slightly	ADV
fbem-2780	41	53	decreasing	decrease	VERB
fbem-2780	41	54	trend	trend	NOUN
fbem-2780	41	55	.	.	PUNCT
fbem-2780	42	1	tianjin	tianjin	PROPN
fbem-2780	42	2	pilot	pilot	PROPN
fbem-2780	42	3	has	have	VERB
fbem-2780	42	4	the	the	DET
fbem-2780	42	5	highest	high	ADJ
fbem-2780	42	6	standard	standard	ADJ
fbem-2780	42	7	deviation	deviation	NOUN
fbem-2780	42	8	of	of	ADP
fbem-2780	42	9	log	log	NOUN
fbem-2780	42	10	returns	return	NOUN
fbem-2780	42	11	,	,	PUNCT
fbem-2780	42	12	followed	follow	VERB
fbem-2780	42	13	by	by	ADP
fbem-2780	42	14	guangzhou	guangzhou	PROPN
fbem-2780	42	15	,	,	PUNCT
fbem-2780	42	16	and	and	CCONJ
fbem-2780	42	17	hubei	hubei	PROPN
fbem-2780	42	18	has	have	VERB
fbem-2780	42	19	the	the	DET
fbem-2780	42	20	lowest	low	ADJ
fbem-2780	42	21	;	;	PUNCT
fbem-2780	42	22	all	all	DET
fbem-2780	42	23	three	three	NUM
fbem-2780	42	24	pilots	pilot	NOUN
fbem-2780	42	25	are	be	AUX
fbem-2780	42	26	right	right	ADV
fbem-2780	42	27	skewed	skewed	ADJ
fbem-2780	42	28	;	;	PUNCT
fbem-2780	42	29	kurtosis	kurtosis	NOUN
fbem-2780	42	30	is	be	AUX
fbem-2780	42	31	higher	high	ADJ
fbem-2780	42	32	than	than	ADP
fbem-2780	42	33	the	the	DET
fbem-2780	42	34	kurtosis	kurtosis	NOUN
fbem-2780	42	35	value	value	NOUN
fbem-2780	42	36	of	of	ADP
fbem-2780	42	37	normal	normal	ADJ
fbem-2780	42	38	distribution	distribution	NOUN
fbem-2780	42	39	,	,	PUNCT
fbem-2780	42	40	which	which	PRON
fbem-2780	42	41	proves	prove	VERB
fbem-2780	42	42	that	that	SCONJ
fbem-2780	42	43	the	the	DET
fbem-2780	42	44	series	series	NOUN
fbem-2780	42	45	has	have	VERB
fbem-2780	42	46	the	the	DET
fbem-2780	42	47	characteristics	characteristic	NOUN
fbem-2780	42	48	of	of	ADP
fbem-2780	42	49	spikes	spike	NOUN
fbem-2780	42	50	and	and	CCONJ
fbem-2780	42	51	thick	thick	ADJ
fbem-2780	42	52	tails	tail	NOUN
fbem-2780	42	53	.	.	PUNCT
fbem-2780	43	1	based	base	VERB
fbem-2780	43	2	on	on	ADP
fbem-2780	43	3	the	the	DET
fbem-2780	43	4	skewness	skewness	NOUN
fbem-2780	43	5	,	,	PUNCT
fbem-2780	43	6	kurtosis	kurtosis	NOUN
fbem-2780	43	7	and	and	CCONJ
fbem-2780	43	8	jb	jb	PROPN
fbem-2780	43	9	statistic	statistic	PROPN
fbem-2780	43	10	,	,	PUNCT
fbem-2780	43	11	it	it	PRON
fbem-2780	43	12	can	can	AUX
fbem-2780	43	13	be	be	AUX
fbem-2780	43	14	concluded	conclude	VERB
fbem-2780	43	15	that	that	SCONJ
fbem-2780	43	16	the	the	DET
fbem-2780	43	17	jb	jb	PROPN
fbem-2780	43	18	statistic	statistic	PROPN
fbem-2780	43	19	is	be	AUX
fbem-2780	43	20	greater	great	ADJ
fbem-2780	43	21	than	than	ADP
fbem-2780	43	22	the	the	DET
fbem-2780	43	23	critical	critical	ADJ
fbem-2780	43	24	value	value	NOUN
fbem-2780	43	25	of	of	ADP
fbem-2780	43	26	2	2	NUM
fbem-2780	43	27	,	,	PUNCT
fbem-2780	43	28	which	which	PRON
fbem-2780	43	29	indicates	indicate	VERB
fbem-2780	43	30	that	that	SCONJ
fbem-2780	43	31	the	the	DET
fbem-2780	43	32	hypothesis	hypothesis	NOUN
fbem-2780	43	33	of	of	ADP
fbem-2780	43	34	normal	normal	ADJ
fbem-2780	43	35	distribution	distribution	NOUN
fbem-2780	43	36	is	be	AUX
fbem-2780	43	37	not	not	PART
fbem-2780	43	38	met	meet	VERB
fbem-2780	43	39	,	,	PUNCT
fbem-2780	43	40	and	and	CCONJ
fbem-2780	43	41	therefore	therefore	ADV
fbem-2780	43	42	the	the	DET
fbem-2780	43	43	conclusion	conclusion	NOUN
fbem-2780	43	44	that	that	SCONJ
fbem-2780	43	45	the	the	DET
fbem-2780	43	46	series	series	NOUN
fbem-2780	43	47	is	be	AUX
fbem-2780	43	48	not	not	PART
fbem-2780	43	49	normally	normally	ADV
fbem-2780	43	50	64	64	NUM
fbem-2780	43	51	distributed	distribute	VERB
fbem-2780	43	52	can	can	AUX
fbem-2780	43	53	be	be	AUX
fbem-2780	43	54	drawn	draw	VERB
fbem-2780	43	55	.	.	PUNCT
fbem-2780	44	1	through	through	ADP
fbem-2780	44	2	the	the	DET
fbem-2780	44	3	above	above	ADJ
fbem-2780	44	4	statistical	statistical	ADJ
fbem-2780	44	5	analysis	analysis	NOUN
fbem-2780	44	6	,	,	PUNCT
fbem-2780	44	7	we	we	PRON
fbem-2780	44	8	can	can	AUX
fbem-2780	44	9	conclude	conclude	VERB
fbem-2780	44	10	that	that	SCONJ
fbem-2780	44	11	the	the	DET
fbem-2780	44	12	three	three	NUM
fbem-2780	44	13	carbon	carbon	NOUN
fbem-2780	44	14	emission	emission	NOUN
fbem-2780	44	15	trading	trading	NOUN
fbem-2780	44	16	markets	market	NOUN
fbem-2780	44	17	are	be	AUX
fbem-2780	44	18	consistent	consistent	ADJ
fbem-2780	44	19	with	with	ADP
fbem-2780	44	20	the	the	DET
fbem-2780	44	21	volatility	volatility	NOUN
fbem-2780	44	22	aggregation	aggregation	NOUN
fbem-2780	44	23	and	and	CCONJ
fbem-2780	44	24	non	non	ADJ
fbem-2780	44	25	-	-	ADJ
fbem-2780	44	26	normal	normal	ADJ
fbem-2780	44	27	distribution	distribution	NOUN
fbem-2780	44	28	,	,	PUNCT
fbem-2780	44	29	so	so	SCONJ
fbem-2780	44	30	we	we	PRON
fbem-2780	44	31	can	can	AUX
fbem-2780	44	32	establish	establish	VERB
fbem-2780	44	33	the	the	DET
fbem-2780	44	34	garch	garch	NOUN
fbem-2780	44	35	model	model	NOUN
fbem-2780	44	36	with	with	ADP
fbem-2780	44	37	reasonableness	reasonableness	NOUN
fbem-2780	44	38	.	.	PUNCT
fbem-2780	45	1	4.1	4.1	NUM
fbem-2780	45	2	.	.	PUNCT
fbem-2780	45	3	smoothness	smoothness	ADJ
fbem-2780	45	4	test	test	NOUN
fbem-2780	45	5	before	before	ADP
fbem-2780	45	6	establishing	establish	VERB
fbem-2780	45	7	the	the	DET
fbem-2780	45	8	heteroskedasticity	heteroskedasticity	NOUN
fbem-2780	45	9	,	,	PUNCT
fbem-2780	45	10	we	we	PRON
fbem-2780	45	11	need	need	VERB
fbem-2780	45	12	to	to	PART
fbem-2780	45	13	conduct	conduct	VERB
fbem-2780	45	14	a	a	DET
fbem-2780	45	15	stationarity	stationarity	NOUN
fbem-2780	45	16	test	test	NOUN
fbem-2780	45	17	.	.	PUNCT
fbem-2780	46	1	the	the	DET
fbem-2780	46	2	assumption	assumption	NOUN
fbem-2780	46	3	that	that	SCONJ
fbem-2780	46	4	the	the	DET
fbem-2780	46	5	time	time	NOUN
fbem-2780	46	6	series	series	NOUN
fbem-2780	46	7	is	be	AUX
fbem-2780	46	8	not	not	PART
fbem-2780	46	9	smooth	smooth	ADJ
fbem-2780	46	10	leads	lead	NOUN
fbem-2780	46	11	to	to	ADP
fbem-2780	46	12	pseudo	pseudo	NOUN
fbem-2780	46	13	-	-	NOUN
fbem-2780	46	14	regression	regression	NOUN
fbem-2780	46	15	results	result	NOUN
fbem-2780	46	16	,	,	PUNCT
fbem-2780	46	17	so	so	SCONJ
fbem-2780	46	18	we	we	PRON
fbem-2780	46	19	use	use	VERB
fbem-2780	46	20	the	the	DET
fbem-2780	46	21	adf	adf	NOUN
fbem-2780	46	22	test	test	NOUN
fbem-2780	46	23	for	for	ADP
fbem-2780	46	24	this	this	DET
fbem-2780	46	25	test	test	NOUN
fbem-2780	46	26	.	.	PUNCT
fbem-2780	47	1	according	accord	VERB
fbem-2780	47	2	to	to	ADP
fbem-2780	47	3	the	the	DET
fbem-2780	47	4	results	result	NOUN
fbem-2780	47	5	of	of	ADP
fbem-2780	47	6	the	the	DET
fbem-2780	47	7	table	table	NOUN
fbem-2780	47	8	,	,	PUNCT
fbem-2780	47	9	the	the	DET
fbem-2780	47	10	adf	adf	PROPN
fbem-2780	47	11	test	test	NOUN
fbem-2780	47	12	statistic	statistic	NOUN
fbem-2780	47	13	is	be	AUX
fbem-2780	47	14	less	less	ADJ
fbem-2780	47	15	than	than	ADP
fbem-2780	47	16	the	the	DET
fbem-2780	47	17	critical	critical	ADJ
fbem-2780	47	18	value	value	NOUN
fbem-2780	47	19	at	at	ADP
fbem-2780	47	20	1	1	NUM
fbem-2780	47	21	%	%	NOUN
fbem-2780	47	22	and	and	CCONJ
fbem-2780	47	23	the	the	DET
fbem-2780	47	24	p	p	NOUN
fbem-2780	47	25	is	be	AUX
fbem-2780	47	26	less	less	ADJ
fbem-2780	47	27	than	than	ADP
fbem-2780	47	28	0.05	0.05	NUM
fbem-2780	47	29	.	.	PUNCT
fbem-2780	48	1	therefore	therefore	ADV
fbem-2780	48	2	,	,	PUNCT
fbem-2780	48	3	the	the	DET
fbem-2780	48	4	original	original	ADJ
fbem-2780	48	5	hypothesis	hypothesis	NOUN
fbem-2780	48	6	is	be	AUX
fbem-2780	48	7	rejected	reject	VERB
fbem-2780	48	8	,	,	PUNCT
fbem-2780	48	9	i.e.	i.e.	X
fbem-2780	48	10	,	,	PUNCT
fbem-2780	48	11	there	there	PRON
fbem-2780	48	12	is	be	VERB
fbem-2780	48	13	no	no	DET
fbem-2780	48	14	unit	unit	NOUN
fbem-2780	48	15	root	root	NOUN
fbem-2780	48	16	in	in	ADP
fbem-2780	48	17	the	the	DET
fbem-2780	48	18	time	time	NOUN
fbem-2780	48	19	series	series	NOUN
fbem-2780	48	20	and	and	CCONJ
fbem-2780	48	21	the	the	DET
fbem-2780	48	22	time	time	NOUN
fbem-2780	48	23	series	series	PROPN
fbem-2780	48	24	is	be	AUX
fbem-2780	48	25	proved	prove	VERB
fbem-2780	48	26	to	to	PART
fbem-2780	48	27	be	be	AUX
fbem-2780	48	28	smooth	smooth	ADJ
fbem-2780	48	29	.	.	PUNCT
fbem-2780	49	1	therefore	therefore	ADV
fbem-2780	49	2	,	,	PUNCT
fbem-2780	49	3	the	the	DET
fbem-2780	49	4	original	original	ADJ
fbem-2780	49	5	hypothesis	hypothesis	NOUN
fbem-2780	49	6	is	be	AUX
fbem-2780	49	7	rejected	reject	VERB
fbem-2780	49	8	,	,	PUNCT
fbem-2780	49	9	i.e.	i.e.	X
fbem-2780	49	10	,	,	PUNCT
fbem-2780	49	11	there	there	PRON
fbem-2780	49	12	is	be	VERB
fbem-2780	49	13	no	no	DET
fbem-2780	49	14	unit	unit	NOUN
fbem-2780	49	15	root	root	NOUN
fbem-2780	49	16	in	in	ADP
fbem-2780	49	17	the	the	DET
fbem-2780	49	18	time	time	NOUN
fbem-2780	49	19	series	series	NOUN
fbem-2780	49	20	and	and	CCONJ
fbem-2780	49	21	the	the	DET
fbem-2780	49	22	time	time	NOUN
fbem-2780	49	23	series	series	PROPN
fbem-2780	49	24	is	be	AUX
fbem-2780	49	25	proved	prove	VERB
fbem-2780	49	26	to	to	PART
fbem-2780	49	27	be	be	AUX
fbem-2780	49	28	stationary	stationary	ADJ
fbem-2780	49	29	.	.	PUNCT
fbem-2780	50	1	table	table	NOUN
fbem-2780	50	2	5	5	NUM
fbem-2780	50	3	.	.	PUNCT
fbem-2780	50	4	stability	stability	NOUN
fbem-2780	50	5	test	test	NOUN
fbem-2780	50	6	area	area	PROPN
fbem-2780	50	7	t	t	NOUN
fbem-2780	50	8	-	-	PUNCT
fbem-2780	50	9	statistic	statistic	NOUN
fbem-2780	50	10	p	p	NOUN
fbem-2780	50	11	-	-	PUNCT
fbem-2780	50	12	value	value	NOUN
fbem-2780	50	13	smoothed	smooth	VERB
fbem-2780	50	14	or	or	CCONJ
fbem-2780	50	15	not	not	PART
fbem-2780	50	16	tianjin	tianjin	PROPN
fbem-2780	50	17	-104.9091	-104.9091	PROPN
fbem-2780	50	18	0.0001	0.0001	NUM
fbem-2780	50	19	stable	stable	ADJ
fbem-2780	50	20	guangzhou	guangzhou	PROPN
fbem-2780	50	21	-59.58874	-59.58874	NUM
fbem-2780	50	22	0.0001	0.0001	NUM
fbem-2780	50	23	stable	stable	ADJ
fbem-2780	50	24	hubei	hubei	PROPN
fbem-2780	50	25	-15.27989	-15.27989	PUNCT
fbem-2780	50	26	0.0001	0.0001	NUM
fbem-2780	50	27	stable	stable	ADJ
fbem-2780	50	28	4.2	4.2	NUM
fbem-2780	50	29	.	.	PUNCT
fbem-2780	51	1	arch	arch	ADJ
fbem-2780	51	2	effect	effect	NOUN
fbem-2780	51	3	test	test	NOUN
fbem-2780	51	4	by	by	ADP
fbem-2780	51	5	establishing	establish	VERB
fbem-2780	51	6	the	the	DET
fbem-2780	51	7	autoregressive	autoregressive	ADJ
fbem-2780	51	8	equation	equation	NOUN
fbem-2780	51	9	according	accord	VERB
fbem-2780	51	10	to	to	ADP
fbem-2780	51	11	the	the	DET
fbem-2780	51	12	least	least	ADJ
fbem-2780	51	13	squares	square	NOUN
fbem-2780	51	14	method	method	NOUN
fbem-2780	51	15	and	and	CCONJ
fbem-2780	51	16	performing	perform	VERB
fbem-2780	51	17	the	the	DET
fbem-2780	51	18	arch	arch	ADJ
fbem-2780	51	19	-	-	PUNCT
fbem-2780	51	20	lm	lm	NOUN
fbem-2780	51	21	test	test	NOUN
fbem-2780	51	22	on	on	ADP
fbem-2780	51	23	the	the	DET
fbem-2780	51	24	time	time	NOUN
fbem-2780	51	25	series	series	NOUN
fbem-2780	51	26	with	with	ADP
fbem-2780	51	27	lag	lag	NOUN
fbem-2780	51	28	order	order	NOUN
fbem-2780	51	29	p=1	p=1	NOUN
fbem-2780	52	1	,	,	PUNCT
fbem-2780	52	2	we	we	PRON
fbem-2780	52	3	can	can	AUX
fbem-2780	52	4	obtain	obtain	VERB
fbem-2780	52	5	table	table	NOUN
fbem-2780	52	6	6	6	NUM
fbem-2780	52	7	:	:	PUNCT
fbem-2780	52	8	table	table	NOUN
fbem-2780	52	9	6	6	NUM
fbem-2780	52	10	.	.	PUNCT
fbem-2780	52	11	arch	arch	ADJ
fbem-2780	52	12	-	-	PUNCT
fbem-2780	52	13	effect	effect	NOUN
fbem-2780	52	14	test	test	NOUN
fbem-2780	52	15	region	region	NOUN
fbem-2780	52	16	f	f	NOUN
fbem-2780	52	17	-	-	PUNCT
fbem-2780	52	18	statistic	statistic	ADJ
fbem-2780	52	19	p	p	NOUN
fbem-2780	52	20	-	-	PUNCT
fbem-2780	52	21	value	value	NOUN
fbem-2780	52	22	tianjin	tianjin	NOUN
fbem-2780	52	23	64.88737	64.88737	NUM
fbem-2780	52	24	0.0000	0.0000	NUM
fbem-2780	52	25	guangzhou	guangzhou	PROPN
fbem-2780	52	26	48.85057	48.85057	NUM
fbem-2780	52	27	0.0000	0.0000	NUM
fbem-2780	52	28	hubei	hubei	NOUN
fbem-2780	52	29	147.7215	147.7215	NUM
fbem-2780	52	30	0.0000	0.0000	NUM
fbem-2780	52	31	from	from	ADP
fbem-2780	52	32	the	the	DET
fbem-2780	52	33	above	above	ADJ
fbem-2780	52	34	statistical	statistical	ADJ
fbem-2780	52	35	results	result	NOUN
fbem-2780	52	36	,	,	PUNCT
fbem-2780	52	37	it	it	PRON
fbem-2780	52	38	can	can	AUX
fbem-2780	52	39	be	be	AUX
fbem-2780	52	40	concluded	conclude	VERB
fbem-2780	52	41	that	that	SCONJ
fbem-2780	52	42	the	the	DET
fbem-2780	52	43	p	p	NOUN
fbem-2780	52	44	-	-	PUNCT
fbem-2780	52	45	value	value	NOUN
fbem-2780	52	46	is	be	AUX
fbem-2780	52	47	less	less	ADJ
fbem-2780	52	48	than	than	ADP
fbem-2780	52	49	5	5	NUM
fbem-2780	52	50	%	%	NOUN
fbem-2780	52	51	significant	significant	ADJ
fbem-2780	52	52	level	level	NOUN
fbem-2780	52	53	,	,	PUNCT
fbem-2780	52	54	which	which	PRON
fbem-2780	52	55	means	mean	VERB
fbem-2780	52	56	that	that	SCONJ
fbem-2780	52	57	the	the	DET
fbem-2780	52	58	original	original	ADJ
fbem-2780	52	59	hypothesis	hypothesis	NOUN
fbem-2780	52	60	that	that	SCONJ
fbem-2780	52	61	there	there	PRON
fbem-2780	52	62	is	be	VERB
fbem-2780	52	63	no	no	DET
fbem-2780	52	64	arch	arch	ADJ
fbem-2780	52	65	effect	effect	NOUN
fbem-2780	52	66	in	in	ADP
fbem-2780	52	67	the	the	DET
fbem-2780	52	68	time	time	NOUN
fbem-2780	52	69	series	series	NOUN
fbem-2780	52	70	is	be	AUX
fbem-2780	52	71	rejected	reject	VERB
fbem-2780	52	72	.	.	PUNCT
fbem-2780	53	1	thus	thus	ADV
fbem-2780	53	2	,	,	PUNCT
fbem-2780	53	3	we	we	PRON
fbem-2780	53	4	can	can	AUX
fbem-2780	53	5	conclude	conclude	VERB
fbem-2780	53	6	that	that	SCONJ
fbem-2780	53	7	there	there	PRON
fbem-2780	53	8	is	be	VERB
fbem-2780	53	9	an	an	DET
fbem-2780	53	10	arch	arch	ADJ
fbem-2780	53	11	effect	effect	NOUN
fbem-2780	53	12	in	in	ADP
fbem-2780	53	13	the	the	DET
fbem-2780	53	14	daily	daily	ADJ
fbem-2780	53	15	average	average	ADJ
fbem-2780	53	16	price	price	NOUN
fbem-2780	53	17	of	of	ADP
fbem-2780	53	18	carbon	carbon	NOUN
fbem-2780	53	19	emission	emission	NOUN
fbem-2780	53	20	trading	trading	NOUN
fbem-2780	53	21	market	market	NOUN
fbem-2780	53	22	in	in	ADP
fbem-2780	53	23	the	the	DET
fbem-2780	53	24	three	three	NUM
fbem-2780	53	25	regions	region	NOUN
fbem-2780	53	26	.	.	PUNCT
fbem-2780	54	1	next	next	ADV
fbem-2780	54	2	,	,	PUNCT
fbem-2780	54	3	we	we	PRON
fbem-2780	54	4	can	can	AUX
fbem-2780	54	5	conduct	conduct	VERB
fbem-2780	54	6	conditional	conditional	ADJ
fbem-2780	54	7	heteroskedasticity	heteroskedasticity	NOUN
fbem-2780	54	8	modeling	modeling	NOUN
fbem-2780	54	9	.	.	PUNCT
fbem-2780	55	1	4.3	4.3	NUM
fbem-2780	55	2	.	.	PUNCT
fbem-2780	56	1	establishing	establish	VERB
fbem-2780	56	2	the	the	DET
fbem-2780	56	3	garch	garch	NOUN
fbem-2780	56	4	-	-	PUNCT
fbem-2780	56	5	m	m	NOUN
fbem-2780	56	6	model	model	NOUN
fbem-2780	56	7	the	the	DET
fbem-2780	56	8	above	above	ADJ
fbem-2780	56	9	statistical	statistical	ADJ
fbem-2780	56	10	results	result	NOUN
fbem-2780	56	11	indicate	indicate	VERB
fbem-2780	56	12	that	that	SCONJ
fbem-2780	56	13	there	there	PRON
fbem-2780	56	14	is	be	VERB
fbem-2780	56	15	an	an	DET
fbem-2780	56	16	arch	arch	ADJ
fbem-2780	56	17	effect	effect	NOUN
fbem-2780	56	18	in	in	ADP
fbem-2780	56	19	the	the	DET
fbem-2780	56	20	carbon	carbon	NOUN
fbem-2780	56	21	emission	emission	NOUN
fbem-2780	56	22	trading	trading	NOUN
fbem-2780	56	23	pilot	pilot	NOUN
fbem-2780	56	24	in	in	ADP
fbem-2780	56	25	tianjin	tianjin	PROPN
fbem-2780	56	26	,	,	PUNCT
fbem-2780	56	27	hubei	hubei	PROPN
fbem-2780	56	28	,	,	PUNCT
fbem-2780	56	29	and	and	CCONJ
fbem-2780	56	30	guangzhou	guangzhou	PROPN
fbem-2780	56	31	,	,	PUNCT
fbem-2780	56	32	so	so	SCONJ
fbem-2780	56	33	we	we	PRON
fbem-2780	56	34	will	will	AUX
fbem-2780	56	35	build	build	VERB
fbem-2780	56	36	a	a	DET
fbem-2780	56	37	garch(1	garch(1	NOUN
fbem-2780	56	38	,	,	PUNCT
fbem-2780	56	39	1	1	X
fbem-2780	56	40	)	)	PUNCT
fbem-2780	56	41	model	model	NOUN
fbem-2780	56	42	for	for	ADP
fbem-2780	56	43	the	the	DET
fbem-2780	56	44	yield	yield	NOUN
fbem-2780	56	45	series	series	NOUN
fbem-2780	56	46	of	of	ADP
fbem-2780	56	47	the	the	DET
fbem-2780	56	48	three	three	NUM
fbem-2780	56	49	places	place	NOUN
fbem-2780	56	50	.	.	PUNCT
fbem-2780	57	1	the	the	DET
fbem-2780	57	2	estimated	estimate	VERB
fbem-2780	57	3	equations	equation	NOUN
fbem-2780	57	4	of	of	ADP
fbem-2780	57	5	the	the	DET
fbem-2780	57	6	garch	garch	NOUN
fbem-2780	57	7	model	model	NOUN
fbem-2780	57	8	are	be	AUX
fbem-2780	57	9	shown	show	VERB
fbem-2780	57	10	in	in	ADP
fbem-2780	57	11	table	table	NOUN
fbem-2780	57	12	7	7	NUM
fbem-2780	57	13	:	:	PUNCT
fbem-2780	57	14	table	table	NOUN
fbem-2780	57	15	7	7	NUM
fbem-2780	57	16	.	.	PUNCT
fbem-2780	57	17	garch	garch	NOUN
fbem-2780	57	18	model	model	NOUN
fbem-2780	57	19	estimation	estimation	NOUN
fbem-2780	57	20	equation	equation	NOUN
fbem-2780	57	21	region	region	NOUN
fbem-2780	57	22	constant	constant	ADJ
fbem-2780	57	23	term	term	NOUN
fbem-2780	57	24	garch	garch	NOUN
fbem-2780	57	25	term	term	NOUN
fbem-2780	57	26	arch	arch	ADJ
fbem-2780	57	27	term	term	NOUN
fbem-2780	57	28	tianjin	tianjin	PROPN
fbem-2780	57	29	-0.0001068	-0.0001068	VERB
fbem-2780	57	30	0.4230356	0.4230356	NUM
fbem-2780	57	31	7.060146	7.060146	NUM
fbem-2780	57	32	guangzhou	guangzhou	PROPN
fbem-2780	57	33	0.0004692	0.0004692	NUM
fbem-2780	57	34	0.2889304	0.2889304	NUM
fbem-2780	57	35	2.535051	2.535051	NUM
fbem-2780	57	36	hubei	hubei	NOUN
fbem-2780	57	37	0.0000402	0.0000402	NUM
fbem-2780	57	38	-0.2089333	-0.2089333	NOUN
fbem-2780	58	1	3.082049	3.082049	NUM
fbem-2780	58	2	according	accord	VERB
fbem-2780	58	3	to	to	ADP
fbem-2780	58	4	the	the	DET
fbem-2780	58	5	results	result	NOUN
fbem-2780	58	6	,	,	PUNCT
fbem-2780	58	7	the	the	DET
fbem-2780	58	8	garch	garch	NOUN
fbem-2780	58	9	term	term	NOUN
fbem-2780	58	10	of	of	ADP
fbem-2780	58	11	the	the	DET
fbem-2780	58	12	carbon	carbon	NOUN
fbem-2780	58	13	price	price	NOUN
fbem-2780	58	14	yield	yield	NOUN
fbem-2780	58	15	series	series	NOUN
fbem-2780	58	16	in	in	ADP
fbem-2780	58	17	tianjin	tianjin	PROPN
fbem-2780	58	18	is	be	AUX
fbem-2780	58	19	the	the	DET
fbem-2780	58	20	highest	high	ADJ
fbem-2780	58	21	,	,	PUNCT
fbem-2780	58	22	indicating	indicate	VERB
fbem-2780	58	23	that	that	SCONJ
fbem-2780	58	24	the	the	DET
fbem-2780	58	25	historical	historical	ADJ
fbem-2780	58	26	carbon	carbon	NOUN
fbem-2780	58	27	price	price	NOUN
fbem-2780	58	28	level	level	NOUN
fbem-2780	58	29	in	in	ADP
fbem-2780	58	30	the	the	DET
fbem-2780	58	31	previous	previous	ADJ
fbem-2780	58	32	period	period	NOUN
fbem-2780	58	33	has	have	VERB
fbem-2780	58	34	a	a	DET
fbem-2780	58	35	significant	significant	ADJ
fbem-2780	58	36	influence	influence	NOUN
fbem-2780	58	37	on	on	ADP
fbem-2780	58	38	the	the	DET
fbem-2780	58	39	later	later	ADJ
fbem-2780	58	40	carbon	carbon	NOUN
fbem-2780	58	41	price	price	NOUN
fbem-2780	58	42	volatility	volatility	NOUN
fbem-2780	58	43	;	;	PUNCT
fbem-2780	58	44	the	the	DET
fbem-2780	58	45	garch	garch	NOUN
fbem-2780	58	46	term	term	NOUN
fbem-2780	58	47	of	of	ADP
fbem-2780	58	48	the	the	DET
fbem-2780	58	49	carbon	carbon	NOUN
fbem-2780	58	50	price	price	NOUN
fbem-2780	58	51	yield	yield	NOUN
fbem-2780	58	52	series	series	NOUN
fbem-2780	58	53	in	in	ADP
fbem-2780	58	54	guangzhou	guangzhou	PROPN
fbem-2780	58	55	is	be	AUX
fbem-2780	58	56	the	the	DET
fbem-2780	58	57	smallest	small	ADJ
fbem-2780	58	58	,	,	PUNCT
fbem-2780	58	59	indicating	indicate	VERB
fbem-2780	58	60	that	that	SCONJ
fbem-2780	58	61	the	the	DET
fbem-2780	58	62	historical	historical	ADJ
fbem-2780	58	63	carbon	carbon	NOUN
fbem-2780	58	64	price	price	NOUN
fbem-2780	58	65	level	level	NOUN
fbem-2780	58	66	in	in	ADP
fbem-2780	58	67	the	the	DET
fbem-2780	58	68	previous	previous	ADJ
fbem-2780	58	69	period	period	NOUN
fbem-2780	58	70	has	have	VERB
fbem-2780	58	71	less	less	ADJ
fbem-2780	58	72	influence	influence	NOUN
fbem-2780	58	73	on	on	ADP
fbem-2780	58	74	the	the	DET
fbem-2780	58	75	later	later	ADJ
fbem-2780	58	76	volatility	volatility	NOUN
fbem-2780	58	77	.	.	PUNCT
fbem-2780	59	1	the	the	DET
fbem-2780	59	2	highest	high	ADJ
fbem-2780	59	3	arch	arch	ADJ
fbem-2780	59	4	value	value	NOUN
fbem-2780	59	5	among	among	ADP
fbem-2780	59	6	the	the	DET
fbem-2780	59	7	three	three	NUM
fbem-2780	59	8	pilots	pilot	NOUN
fbem-2780	59	9	in	in	ADP
fbem-2780	59	10	tianjin	tianjin	PROPN
fbem-2780	59	11	indicates	indicate	VERB
fbem-2780	59	12	that	that	SCONJ
fbem-2780	59	13	external	external	ADJ
fbem-2780	59	14	conditions	condition	NOUN
fbem-2780	59	15	have	have	VERB
fbem-2780	59	16	a	a	DET
fbem-2780	59	17	greater	great	ADJ
fbem-2780	59	18	influence	influence	NOUN
fbem-2780	59	19	on	on	ADP
fbem-2780	59	20	the	the	DET
fbem-2780	59	21	volatility	volatility	NOUN
fbem-2780	59	22	of	of	ADP
fbem-2780	59	23	carbon	carbon	NOUN
fbem-2780	59	24	price	price	NOUN
fbem-2780	59	25	in	in	ADP
fbem-2780	59	26	tianjin	tianjin	PROPN
fbem-2780	59	27	.	.	PUNCT
fbem-2780	60	1	in	in	ADP
fbem-2780	60	2	addition	addition	NOUN
fbem-2780	60	3	,	,	PUNCT
fbem-2780	60	4	the	the	DET
fbem-2780	60	5	coefficient	coefficient	NOUN
fbem-2780	60	6	α	α	NOUN
fbem-2780	60	7	of	of	ADP
fbem-2780	60	8	the	the	DET
fbem-2780	60	9	arch	arch	ADJ
fbem-2780	60	10	term	term	NOUN
fbem-2780	60	11	is	be	AUX
fbem-2780	60	12	larger	large	ADJ
fbem-2780	60	13	than	than	ADP
fbem-2780	60	14	the	the	DET
fbem-2780	60	15	coefficient	coefficient	NOUN
fbem-2780	60	16	β	β	PROPN
fbem-2780	60	17	of	of	ADP
fbem-2780	60	18	the	the	DET
fbem-2780	60	19	garch	garch	NOUN
fbem-2780	60	20	term	term	NOUN
fbem-2780	60	21	in	in	ADP
fbem-2780	60	22	all	all	DET
fbem-2780	60	23	three	three	NUM
fbem-2780	60	24	pilots	pilot	NOUN
fbem-2780	60	25	,	,	PUNCT
fbem-2780	60	26	suggesting	suggest	VERB
fbem-2780	60	27	that	that	SCONJ
fbem-2780	60	28	external	external	ADJ
fbem-2780	60	29	shocks	shock	NOUN
fbem-2780	60	30	have	have	VERB
fbem-2780	60	31	a	a	DET
fbem-2780	60	32	stronger	strong	ADJ
fbem-2780	60	33	impact	impact	NOUN
fbem-2780	60	34	on	on	ADP
fbem-2780	60	35	market	market	NOUN
fbem-2780	60	36	volatility	volatility	NOUN
fbem-2780	60	37	than	than	ADP
fbem-2780	60	38	the	the	DET
fbem-2780	60	39	market	market	NOUN
fbem-2780	60	40	's	's	PART
fbem-2780	60	41	own	own	ADJ
fbem-2780	60	42	memory	memory	NOUN
fbem-2780	60	43	.	.	PUNCT
fbem-2780	61	1	4.4	4.4	NUM
fbem-2780	61	2	.	.	PUNCT
fbem-2780	62	1	summary	summary	NOUN
fbem-2780	62	2	of	of	ADP
fbem-2780	62	3	the	the	DET
fbem-2780	62	4	volatility	volatility	NOUN
fbem-2780	62	5	analysis	analysis	NOUN
fbem-2780	62	6	of	of	ADP
fbem-2780	62	7	carbon	carbon	NOUN
fbem-2780	62	8	trading	trading	NOUN
fbem-2780	62	9	prices	price	NOUN
fbem-2780	62	10	in	in	ADP
fbem-2780	62	11	the	the	DET
fbem-2780	62	12	three	three	NUM
fbem-2780	62	13	pilot	pilot	NOUN
fbem-2780	62	14	markets	market	NOUN
fbem-2780	62	15	in	in	ADP
fbem-2780	62	16	china	china	PROPN
fbem-2780	62	17	based	base	VERB
fbem-2780	62	18	on	on	ADP
fbem-2780	62	19	the	the	DET
fbem-2780	62	20	above	above	ADJ
fbem-2780	62	21	empirical	empirical	ADJ
fbem-2780	62	22	analysis	analysis	NOUN
fbem-2780	62	23	,	,	PUNCT
fbem-2780	62	24	we	we	PRON
fbem-2780	62	25	can	can	AUX
fbem-2780	62	26	draw	draw	VERB
fbem-2780	62	27	the	the	DET
fbem-2780	62	28	following	following	ADJ
fbem-2780	62	29	conclusions	conclusion	NOUN
fbem-2780	62	30	:	:	PUNCT
fbem-2780	62	31	(	(	PUNCT
fbem-2780	62	32	1	1	X
fbem-2780	62	33	)	)	PUNCT
fbem-2780	62	34	in	in	ADP
fbem-2780	62	35	the	the	DET
fbem-2780	62	36	descriptive	descriptive	ADJ
fbem-2780	62	37	statistical	statistical	ADJ
fbem-2780	62	38	test	test	NOUN
fbem-2780	62	39	of	of	ADP
fbem-2780	62	40	the	the	DET
fbem-2780	62	41	log	log	NOUN
fbem-2780	62	42	returns	return	NOUN
fbem-2780	62	43	of	of	ADP
fbem-2780	62	44	carbon	carbon	NOUN
fbem-2780	62	45	trading	trading	NOUN
fbem-2780	62	46	prices	price	NOUN
fbem-2780	62	47	,	,	PUNCT
fbem-2780	62	48	the	the	DET
fbem-2780	62	49	standard	standard	ADJ
fbem-2780	62	50	deviation	deviation	NOUN
fbem-2780	62	51	is	be	AUX
fbem-2780	62	52	relatively	relatively	ADV
fbem-2780	62	53	large	large	ADJ
fbem-2780	62	54	,	,	PUNCT
fbem-2780	62	55	indicating	indicate	VERB
fbem-2780	62	56	the	the	DET
fbem-2780	62	57	high	high	ADJ
fbem-2780	62	58	riskiness	riskiness	NOUN
fbem-2780	62	59	of	of	ADP
fbem-2780	62	60	carbon	carbon	NOUN
fbem-2780	62	61	trading	trading	NOUN
fbem-2780	62	62	.	.	PUNCT
fbem-2780	63	1	(	(	PUNCT
fbem-2780	63	2	2	2	X
fbem-2780	63	3	)	)	PUNCT
fbem-2780	63	4	the	the	DET
fbem-2780	63	5	price	price	NOUN
fbem-2780	63	6	fluctuations	fluctuation	NOUN
fbem-2780	63	7	in	in	ADP
fbem-2780	63	8	the	the	DET
fbem-2780	63	9	carbon	carbon	NOUN
fbem-2780	63	10	trading	trading	NOUN
fbem-2780	63	11	market	market	NOUN
fbem-2780	63	12	in	in	ADP
fbem-2780	63	13	the	the	DET
fbem-2780	63	14	three	three	NUM
fbem-2780	63	15	regions	region	NOUN
fbem-2780	63	16	do	do	AUX
fbem-2780	63	17	not	not	PART
fbem-2780	63	18	show	show	VERB
fbem-2780	63	19	the	the	DET
fbem-2780	63	20	same	same	ADJ
fbem-2780	63	21	pattern	pattern	NOUN
fbem-2780	63	22	,	,	PUNCT
fbem-2780	63	23	and	and	CCONJ
fbem-2780	63	24	the	the	DET
fbem-2780	63	25	price	price	NOUN
fbem-2780	63	26	variability	variability	NOUN
fbem-2780	63	27	is	be	AUX
fbem-2780	63	28	large	large	ADJ
fbem-2780	63	29	,	,	PUNCT
fbem-2780	63	30	with	with	ADP
fbem-2780	63	31	special	special	ADJ
fbem-2780	63	32	and	and	CCONJ
fbem-2780	63	33	regional	regional	ADJ
fbem-2780	63	34	characteristics	characteristic	NOUN
fbem-2780	63	35	.	.	PUNCT
fbem-2780	64	1	(	(	PUNCT
fbem-2780	64	2	3	3	X
fbem-2780	64	3	)	)	PUNCT
fbem-2780	64	4	the	the	DET
fbem-2780	64	5	volatile	volatile	ADJ
fbem-2780	64	6	prices	price	NOUN
fbem-2780	64	7	of	of	ADP
fbem-2780	64	8	the	the	DET
fbem-2780	64	9	three	three	NUM
fbem-2780	64	10	carbon	carbon	NOUN
fbem-2780	64	11	emission	emission	NOUN
fbem-2780	64	12	trading	trading	NOUN
fbem-2780	64	13	markets	market	NOUN
fbem-2780	64	14	do	do	AUX
fbem-2780	64	15	not	not	PART
fbem-2780	64	16	have	have	VERB
fbem-2780	64	17	dramatic	dramatic	ADJ
fbem-2780	64	18	characteristics	characteristic	NOUN
fbem-2780	64	19	,	,	PUNCT
fbem-2780	64	20	indicating	indicate	VERB
fbem-2780	64	21	that	that	SCONJ
fbem-2780	64	22	china	china	PROPN
fbem-2780	64	23	's	's	PART
fbem-2780	64	24	carbon	carbon	NOUN
fbem-2780	64	25	emission	emission	NOUN
fbem-2780	64	26	trading	trading	NOUN
fbem-2780	64	27	market	market	NOUN
fbem-2780	64	28	is	be	AUX
fbem-2780	64	29	in	in	ADP
fbem-2780	64	30	the	the	DET
fbem-2780	64	31	early	early	ADJ
fbem-2780	64	32	stage	stage	NOUN
fbem-2780	64	33	of	of	ADP
fbem-2780	64	34	development	development	NOUN
fbem-2780	64	35	,	,	PUNCT
fbem-2780	64	36	the	the	DET
fbem-2780	64	37	market	market	NOUN
fbem-2780	64	38	mechanism	mechanism	NOUN
fbem-2780	64	39	is	be	AUX
fbem-2780	64	40	not	not	PART
fbem-2780	64	41	yet	yet	ADV
fbem-2780	64	42	perfect	perfect	ADJ
fbem-2780	64	43	,	,	PUNCT
fbem-2780	64	44	and	and	CCONJ
fbem-2780	64	45	there	there	PRON
fbem-2780	64	46	is	be	VERB
fbem-2780	64	47	no	no	DET
fbem-2780	64	48	active	active	ADJ
fbem-2780	64	49	operation	operation	NOUN
fbem-2780	64	50	mode	mode	NOUN
fbem-2780	64	51	.	.	PUNCT
fbem-2780	65	1	5	5	X
fbem-2780	65	2	.	.	X
fbem-2780	65	3	conclusion	conclusion	NOUN
fbem-2780	65	4	and	and	CCONJ
fbem-2780	65	5	policy	policy	NOUN
fbem-2780	65	6	suggestions	suggestion	NOUN
fbem-2780	65	7	in	in	ADP
fbem-2780	65	8	the	the	DET
fbem-2780	65	9	future	future	NOUN
fbem-2780	65	10	,	,	PUNCT
fbem-2780	65	11	china	china	PROPN
fbem-2780	65	12	's	's	PART
fbem-2780	65	13	carbon	carbon	NOUN
fbem-2780	65	14	emission	emission	NOUN
fbem-2780	65	15	trading	trading	NOUN
fbem-2780	65	16	market	market	NOUN
fbem-2780	65	17	should	should	AUX
fbem-2780	65	18	further	far	ADV
fbem-2780	65	19	improve	improve	VERB
fbem-2780	65	20	the	the	DET
fbem-2780	65	21	market	market	NOUN
fbem-2780	65	22	mechanism	mechanism	NOUN
fbem-2780	65	23	,	,	PUNCT
fbem-2780	65	24	and	and	CCONJ
fbem-2780	65	25	through	through	ADP
fbem-2780	65	26	releasing	release	VERB
fbem-2780	65	27	reasonable	reasonable	ADJ
fbem-2780	65	28	price	price	NOUN
fbem-2780	65	29	signals	signal	NOUN
fbem-2780	65	30	,	,	PUNCT
fbem-2780	65	31	guide	guide	VERB
fbem-2780	65	32	the	the	DET
fbem-2780	65	33	flow	flow	NOUN
fbem-2780	65	34	of	of	ADP
fbem-2780	65	35	social	social	ADJ
fbem-2780	65	36	capital	capital	NOUN
fbem-2780	65	37	,	,	PUNCT
fbem-2780	65	38	reduce	reduce	VERB
fbem-2780	65	39	the	the	DET
fbem-2780	65	40	cost	cost	NOUN
fbem-2780	65	41	of	of	ADP
fbem-2780	65	42	emission	emission	NOUN
fbem-2780	65	43	reduction	reduction	NOUN
fbem-2780	65	44	of	of	ADP
fbem-2780	65	45	the	the	DET
fbem-2780	65	46	whole	whole	ADJ
fbem-2780	65	47	society	society	NOUN
fbem-2780	65	48	,	,	PUNCT
fbem-2780	65	49	and	and	CCONJ
fbem-2780	65	50	then	then	ADV
fbem-2780	65	51	realize	realize	VERB
fbem-2780	65	52	the	the	DET
fbem-2780	65	53	optimal	optimal	ADJ
fbem-2780	65	54	allocation	allocation	NOUN
fbem-2780	65	55	of	of	ADP
fbem-2780	65	56	carbon	carbon	NOUN
fbem-2780	65	57	emission	emission	NOUN
fbem-2780	65	58	reduction	reduction	NOUN
fbem-2780	65	59	resources	resource	NOUN
fbem-2780	65	60	,	,	PUNCT
fbem-2780	65	61	and	and	CCONJ
fbem-2780	65	62	promote	promote	VERB
fbem-2780	65	63	the	the	DET
fbem-2780	65	64	green	green	ADJ
fbem-2780	65	65	and	and	CCONJ
fbem-2780	65	66	lowcarbon	lowcarbon	NOUN
fbem-2780	65	67	transformation	transformation	NOUN
fbem-2780	65	68	of	of	ADP
fbem-2780	65	69	production	production	NOUN
fbem-2780	65	70	and	and	CCONJ
fbem-2780	65	71	life	life	NOUN
fbem-2780	65	72	.	.	PUNCT
fbem-2780	66	1	65	65	NUM
fbem-2780	66	2	5.1	5.1	NUM
fbem-2780	66	3	.	.	PUNCT
fbem-2780	67	1	accelerate	accelerate	VERB
fbem-2780	67	2	the	the	DET
fbem-2780	67	3	improvement	improvement	NOUN
fbem-2780	67	4	of	of	ADP
fbem-2780	67	5	basic	basic	ADJ
fbem-2780	67	6	system	system	NOUN
fbem-2780	67	7	guarantee	guarantee	VERB
fbem-2780	67	8	5.1.1	5.1.1	NOUN
fbem-2780	67	9	.	.	PUNCT
fbem-2780	67	10	accelerate	accelerate	VERB
fbem-2780	67	11	the	the	DET
fbem-2780	67	12	establishment	establishment	NOUN
fbem-2780	67	13	of	of	ADP
fbem-2780	67	14	laws	law	NOUN
fbem-2780	67	15	,	,	PUNCT
fbem-2780	67	16	regulations	regulation	NOUN
fbem-2780	67	17	and	and	CCONJ
fbem-2780	67	18	institutional	institutional	ADJ
fbem-2780	67	19	systems	system	NOUN
fbem-2780	67	20	that	that	PRON
fbem-2780	67	21	are	be	AUX
fbem-2780	67	22	compatible	compatible	ADJ
fbem-2780	67	23	with	with	ADP
fbem-2780	67	24	the	the	DET
fbem-2780	67	25	carbon	carbon	NOUN
fbem-2780	67	26	market	market	NOUN
fbem-2780	67	27	a	a	DET
fbem-2780	67	28	good	good	ADJ
fbem-2780	67	29	legal	legal	ADJ
fbem-2780	67	30	foundation	foundation	NOUN
fbem-2780	67	31	provides	provide	VERB
fbem-2780	67	32	guarantee	guarantee	NOUN
fbem-2780	67	33	for	for	ADP
fbem-2780	67	34	the	the	DET
fbem-2780	67	35	design	design	NOUN
fbem-2780	67	36	and	and	CCONJ
fbem-2780	67	37	implementation	implementation	NOUN
fbem-2780	67	38	of	of	ADP
fbem-2780	67	39	the	the	DET
fbem-2780	67	40	carbon	carbon	NOUN
fbem-2780	67	41	market	market	NOUN
fbem-2780	67	42	mechanism	mechanism	NOUN
fbem-2780	67	43	and	and	CCONJ
fbem-2780	67	44	is	be	AUX
fbem-2780	67	45	the	the	DET
fbem-2780	67	46	basis	basis	NOUN
fbem-2780	67	47	for	for	ADP
fbem-2780	67	48	the	the	DET
fbem-2780	67	49	effective	effective	ADJ
fbem-2780	67	50	operation	operation	NOUN
fbem-2780	67	51	of	of	ADP
fbem-2780	67	52	the	the	DET
fbem-2780	67	53	carbon	carbon	NOUN
fbem-2780	67	54	market	market	NOUN
fbem-2780	67	55	.	.	PUNCT
fbem-2780	68	1	a	a	DET
fbem-2780	68	2	set	set	NOUN
fbem-2780	68	3	of	of	ADP
fbem-2780	68	4	"	"	PUNCT
fbem-2780	68	5	1+n+x	1+n+x	PROPN
fbem-2780	68	6	"	"	PUNCT
fbem-2780	68	7	policy	policy	NOUN
fbem-2780	68	8	and	and	CCONJ
fbem-2780	68	9	system	system	NOUN
fbem-2780	68	10	system	system	NOUN
fbem-2780	68	11	should	should	AUX
fbem-2780	68	12	be	be	AUX
fbem-2780	68	13	formed	form	VERB
fbem-2780	68	14	as	as	ADV
fbem-2780	68	15	soon	soon	ADV
fbem-2780	68	16	as	as	ADP
fbem-2780	68	17	possible	possible	ADJ
fbem-2780	68	18	,	,	PUNCT
fbem-2780	68	19	with	with	ADP
fbem-2780	68	20	the	the	DET
fbem-2780	68	21	national	national	ADJ
fbem-2780	68	22	regulations	regulation	NOUN
fbem-2780	68	23	on	on	ADP
fbem-2780	68	24	carbon	carbon	NOUN
fbem-2780	68	25	emission	emission	NOUN
fbem-2780	68	26	trading	trading	NOUN
fbem-2780	68	27	as	as	ADP
fbem-2780	68	28	the	the	DET
fbem-2780	68	29	foundation	foundation	NOUN
fbem-2780	68	30	,	,	PUNCT
fbem-2780	68	31	the	the	DET
fbem-2780	68	32	relevant	relevant	ADJ
fbem-2780	68	33	management	management	NOUN
fbem-2780	68	34	system	system	NOUN
fbem-2780	68	35	of	of	ADP
fbem-2780	68	36	the	the	DET
fbem-2780	68	37	ministry	ministry	PROPN
fbem-2780	68	38	of	of	ADP
fbem-2780	68	39	ecology	ecology	NOUN
fbem-2780	68	40	and	and	CCONJ
fbem-2780	68	41	environment	environment	NOUN
fbem-2780	68	42	as	as	ADP
fbem-2780	68	43	the	the	DET
fbem-2780	68	44	focus	focus	NOUN
fbem-2780	68	45	,	,	PUNCT
fbem-2780	68	46	and	and	CCONJ
fbem-2780	68	47	the	the	DET
fbem-2780	68	48	trading	trading	NOUN
fbem-2780	68	49	rules	rule	NOUN
fbem-2780	68	50	of	of	ADP
fbem-2780	68	51	the	the	DET
fbem-2780	68	52	exchange	exchange	NOUN
fbem-2780	68	53	as	as	ADP
fbem-2780	68	54	the	the	DET
fbem-2780	68	55	support	support	NOUN
fbem-2780	68	56	,	,	PUNCT
fbem-2780	68	57	so	so	SCONJ
fbem-2780	68	58	as	as	SCONJ
fbem-2780	68	59	to	to	PART
fbem-2780	68	60	guarantee	guarantee	VERB
fbem-2780	68	61	the	the	DET
fbem-2780	68	62	smooth	smooth	ADJ
fbem-2780	68	63	and	and	CCONJ
fbem-2780	68	64	long	long	ADJ
fbem-2780	68	65	-	-	PUNCT
fbem-2780	68	66	term	term	NOUN
fbem-2780	68	67	operation	operation	NOUN
fbem-2780	68	68	of	of	ADP
fbem-2780	68	69	carbon	carbon	NOUN
fbem-2780	68	70	market	market	NOUN
fbem-2780	68	71	trading	trading	NOUN
fbem-2780	68	72	.	.	PUNCT
fbem-2780	69	1	5.1.2	5.1.2	X
fbem-2780	69	2	.	.	X
fbem-2780	69	3	introduce	introduce	VERB
fbem-2780	69	4	national	national	ADJ
fbem-2780	69	5	regulations	regulation	NOUN
fbem-2780	69	6	on	on	ADP
fbem-2780	69	7	carbon	carbon	NOUN
fbem-2780	69	8	emissions	emission	NOUN
fbem-2780	69	9	trading	trading	NOUN
fbem-2780	69	10	as	as	ADV
fbem-2780	69	11	soon	soon	ADV
fbem-2780	69	12	as	as	SCONJ
fbem-2780	69	13	possible	possible	ADJ
fbem-2780	69	14	.	.	PUNCT
fbem-2780	70	1	accelerate	accelerate	VERB
fbem-2780	70	2	the	the	DET
fbem-2780	70	3	promotion	promotion	NOUN
fbem-2780	70	4	of	of	ADP
fbem-2780	70	5	legislation	legislation	NOUN
fbem-2780	70	6	related	relate	VERB
fbem-2780	70	7	to	to	ADP
fbem-2780	70	8	improving	improve	VERB
fbem-2780	70	9	the	the	DET
fbem-2780	70	10	climate	climate	NOUN
fbem-2780	70	11	environment	environment	NOUN
fbem-2780	70	12	,	,	PUNCT
fbem-2780	70	13	and	and	CCONJ
fbem-2780	70	14	ensure	ensure	VERB
fbem-2780	70	15	the	the	DET
fbem-2780	70	16	authority	authority	NOUN
fbem-2780	70	17	of	of	ADP
fbem-2780	70	18	the	the	DET
fbem-2780	70	19	carbon	carbon	NOUN
fbem-2780	70	20	market	market	NOUN
fbem-2780	70	21	with	with	ADP
fbem-2780	70	22	higher	high	ADJ
fbem-2780	70	23	-	-	PUNCT
fbem-2780	70	24	level	level	NOUN
fbem-2780	70	25	legislation	legislation	NOUN
fbem-2780	70	26	.	.	PUNCT
fbem-2780	71	1	establish	establish	VERB
fbem-2780	71	2	unified	unified	ADJ
fbem-2780	71	3	legal	legal	ADJ
fbem-2780	71	4	standards	standard	NOUN
fbem-2780	71	5	for	for	ADP
fbem-2780	71	6	the	the	DET
fbem-2780	71	7	qualification	qualification	NOUN
fbem-2780	71	8	of	of	ADP
fbem-2780	71	9	the	the	DET
fbem-2780	71	10	subjects	subject	NOUN
fbem-2780	71	11	of	of	ADP
fbem-2780	71	12	the	the	DET
fbem-2780	71	13	carbon	carbon	NOUN
fbem-2780	71	14	emission	emission	NOUN
fbem-2780	71	15	market	market	NOUN
fbem-2780	71	16	,	,	PUNCT
fbem-2780	71	17	clarify	clarify	VERB
fbem-2780	71	18	the	the	DET
fbem-2780	71	19	rights	right	NOUN
fbem-2780	71	20	,	,	PUNCT
fbem-2780	71	21	obligations	obligation	NOUN
fbem-2780	71	22	and	and	CCONJ
fbem-2780	71	23	responsibilities	responsibility	NOUN
fbem-2780	71	24	of	of	ADP
fbem-2780	71	25	all	all	DET
fbem-2780	71	26	parties	party	NOUN
fbem-2780	71	27	involved	involve	VERB
fbem-2780	71	28	in	in	ADP
fbem-2780	71	29	the	the	DET
fbem-2780	71	30	carbon	carbon	NOUN
fbem-2780	71	31	emission	emission	NOUN
fbem-2780	71	32	trading	trading	NOUN
fbem-2780	71	33	market	market	NOUN
fbem-2780	71	34	,	,	PUNCT
fbem-2780	71	35	regulate	regulate	VERB
fbem-2780	71	36	the	the	DET
fbem-2780	71	37	conditions	condition	NOUN
fbem-2780	71	38	,	,	PUNCT
fbem-2780	71	39	procedures	procedure	NOUN
fbem-2780	71	40	and	and	CCONJ
fbem-2780	71	41	contents	content	NOUN
fbem-2780	71	42	of	of	ADP
fbem-2780	71	43	carbon	carbon	NOUN
fbem-2780	71	44	emission	emission	NOUN
fbem-2780	71	45	market	market	NOUN
fbem-2780	71	46	transactions	transaction	NOUN
fbem-2780	71	47	,	,	PUNCT
fbem-2780	71	48	and	and	CCONJ
fbem-2780	71	49	formulate	formulate	VERB
fbem-2780	71	50	unified	unified	ADJ
fbem-2780	71	51	regulations	regulation	NOUN
fbem-2780	71	52	for	for	ADP
fbem-2780	71	53	the	the	DET
fbem-2780	71	54	creation	creation	NOUN
fbem-2780	71	55	,	,	PUNCT
fbem-2780	71	56	operation	operation	NOUN
fbem-2780	71	57	and	and	CCONJ
fbem-2780	71	58	management	management	NOUN
fbem-2780	71	59	of	of	ADP
fbem-2780	71	60	carbon	carbon	NOUN
fbem-2780	71	61	emission	emission	NOUN
fbem-2780	71	62	exchanges	exchange	NOUN
fbem-2780	71	63	,	,	PUNCT
fbem-2780	71	64	etc	etc	X
fbem-2780	71	65	.	.	X
fbem-2780	71	66	,	,	PUNCT
fbem-2780	71	67	so	so	SCONJ
fbem-2780	71	68	as	as	SCONJ
fbem-2780	71	69	to	to	PART
fbem-2780	71	70	provide	provide	VERB
fbem-2780	71	71	complete	complete	ADJ
fbem-2780	71	72	laws	law	NOUN
fbem-2780	71	73	,	,	PUNCT
fbem-2780	71	74	regulations	regulation	NOUN
fbem-2780	71	75	and	and	CCONJ
fbem-2780	71	76	institutional	institutional	ADJ
fbem-2780	71	77	guarantees	guarantee	NOUN
fbem-2780	71	78	for	for	ADP
fbem-2780	71	79	the	the	DET
fbem-2780	71	80	construction	construction	NOUN
fbem-2780	71	81	of	of	ADP
fbem-2780	71	82	the	the	DET
fbem-2780	71	83	national	national	ADJ
fbem-2780	71	84	carbon	carbon	NOUN
fbem-2780	71	85	market	market	NOUN
fbem-2780	71	86	system	system	NOUN
fbem-2780	71	87	,	,	PUNCT
fbem-2780	71	88	so	so	SCONJ
fbem-2780	71	89	as	as	SCONJ
fbem-2780	71	90	to	to	PART
fbem-2780	71	91	stabilize	stabilize	VERB
fbem-2780	71	92	the	the	DET
fbem-2780	71	93	institutional	institutional	ADJ
fbem-2780	71	94	expectations	expectation	NOUN
fbem-2780	71	95	and	and	CCONJ
fbem-2780	71	96	market	market	NOUN
fbem-2780	71	97	expectations	expectation	NOUN
fbem-2780	71	98	of	of	ADP
fbem-2780	71	99	the	the	DET
fbem-2780	71	100	trading	trading	NOUN
fbem-2780	71	101	subjects	subject	NOUN
fbem-2780	71	102	.	.	PUNCT
fbem-2780	72	1	expectations	expectation	NOUN
fbem-2780	72	2	.	.	PUNCT
fbem-2780	73	1	5.1.3	5.1.3	X
fbem-2780	73	2	.	.	PUNCT
fbem-2780	73	3	increase	increase	VERB
fbem-2780	73	4	the	the	DET
fbem-2780	73	5	cultivation	cultivation	NOUN
fbem-2780	73	6	of	of	ADP
fbem-2780	73	7	carbon	carbon	NOUN
fbem-2780	73	8	finance	finance	NOUN
fbem-2780	73	9	and	and	CCONJ
fbem-2780	73	10	encourage	encourage	VERB
fbem-2780	73	11	the	the	DET
fbem-2780	73	12	innovation	innovation	NOUN
fbem-2780	73	13	of	of	ADP
fbem-2780	73	14	carbon	carbon	NOUN
fbem-2780	73	15	finance	finance	NOUN
fbem-2780	73	16	products	product	NOUN
fbem-2780	73	17	.	.	PUNCT
fbem-2780	74	1	various	various	ADJ
fbem-2780	74	2	carbon	carbon	NOUN
fbem-2780	74	3	financial	financial	ADJ
fbem-2780	74	4	derivatives	derivative	NOUN
fbem-2780	74	5	and	and	CCONJ
fbem-2780	74	6	services	service	NOUN
fbem-2780	74	7	provide	provide	VERB
fbem-2780	74	8	important	important	ADJ
fbem-2780	74	9	asset	asset	NOUN
fbem-2780	74	10	management	management	NOUN
fbem-2780	74	11	and	and	CCONJ
fbem-2780	74	12	risk	risk	NOUN
fbem-2780	74	13	hedging	hedging	NOUN
fbem-2780	74	14	tools	tool	NOUN
fbem-2780	74	15	for	for	ADP
fbem-2780	74	16	market	market	NOUN
fbem-2780	74	17	participants	participant	NOUN
fbem-2780	74	18	to	to	PART
fbem-2780	74	19	explore	explore	VERB
fbem-2780	74	20	the	the	DET
fbem-2780	74	21	real	real	ADJ
fbem-2780	74	22	value	value	NOUN
fbem-2780	74	23	of	of	ADP
fbem-2780	74	24	carbon	carbon	NOUN
fbem-2780	74	25	assets	asset	NOUN
fbem-2780	74	26	.	.	PUNCT
fbem-2780	75	1	continuously	continuously	ADV
fbem-2780	75	2	enrich	enrich	VERB
fbem-2780	75	3	carbon	carbon	NOUN
fbem-2780	75	4	derivatives	derivative	NOUN
fbem-2780	75	5	and	and	CCONJ
fbem-2780	75	6	other	other	ADJ
fbem-2780	75	7	carbon	carbon	NOUN
fbem-2780	75	8	market	market	NOUN
fbem-2780	75	9	trading	trading	NOUN
fbem-2780	75	10	varieties	variety	NOUN
fbem-2780	75	11	,	,	PUNCT
fbem-2780	75	12	encourage	encourage	VERB
fbem-2780	75	13	financial	financial	ADJ
fbem-2780	75	14	innovation	innovation	NOUN
fbem-2780	75	15	of	of	ADP
fbem-2780	75	16	trading	trading	NOUN
fbem-2780	75	17	instruments	instrument	NOUN
fbem-2780	75	18	such	such	ADJ
fbem-2780	75	19	as	as	ADP
fbem-2780	75	20	carbon	carbon	NOUN
fbem-2780	75	21	emission	emission	NOUN
fbem-2780	75	22	allowances	allowance	NOUN
fbem-2780	75	23	,	,	PUNCT
fbem-2780	75	24	ccers	ccer	NOUN
fbem-2780	75	25	and	and	CCONJ
fbem-2780	75	26	carbon	carbon	NOUN
fbem-2780	75	27	forwards	forward	NOUN
fbem-2780	75	28	,	,	PUNCT
fbem-2780	75	29	financing	financing	NOUN
fbem-2780	75	30	instruments	instrument	NOUN
fbem-2780	75	31	such	such	ADJ
fbem-2780	75	32	as	as	ADP
fbem-2780	75	33	carbon	carbon	NOUN
fbem-2780	75	34	bonds	bond	NOUN
fbem-2780	75	35	,	,	PUNCT
fbem-2780	75	36	carbon	carbon	NOUN
fbem-2780	75	37	asset	asset	NOUN
fbem-2780	75	38	mortgages	mortgage	NOUN
fbem-2780	75	39	/	/	SYM
fbem-2780	75	40	pledges	pledge	NOUN
fbem-2780	75	41	,	,	PUNCT
fbem-2780	75	42	carbon	carbon	NOUN
fbem-2780	75	43	funds	fund	NOUN
fbem-2780	75	44	/	/	SYM
fbem-2780	75	45	trusts	trust	NOUN
fbem-2780	75	46	,	,	PUNCT
fbem-2780	75	47	and	and	CCONJ
fbem-2780	75	48	supporting	support	VERB
fbem-2780	75	49	instruments	instrument	NOUN
fbem-2780	75	50	such	such	ADJ
fbem-2780	75	51	as	as	ADP
fbem-2780	75	52	carbon	carbon	NOUN
fbem-2780	75	53	indices	index	NOUN
fbem-2780	75	54	and	and	CCONJ
fbem-2780	75	55	carbon	carbon	NOUN
fbem-2780	75	56	insurance	insurance	NOUN
fbem-2780	75	57	,	,	PUNCT
fbem-2780	75	58	and	and	CCONJ
fbem-2780	75	59	guide	guide	VERB
fbem-2780	75	60	financial	financial	ADJ
fbem-2780	75	61	resources	resource	NOUN
fbem-2780	75	62	to	to	PART
fbem-2780	75	63	boost	boost	VERB
fbem-2780	75	64	the	the	DET
fbem-2780	75	65	development	development	NOUN
fbem-2780	75	66	of	of	ADP
fbem-2780	75	67	the	the	DET
fbem-2780	75	68	national	national	ADJ
fbem-2780	75	69	carbon	carbon	NOUN
fbem-2780	75	70	market	market	NOUN
fbem-2780	75	71	and	and	CCONJ
fbem-2780	75	72	build	build	VERB
fbem-2780	75	73	a	a	DET
fbem-2780	75	74	carbon	carbon	NOUN
fbem-2780	75	75	pricing	pricing	NOUN
fbem-2780	75	76	center	center	NOUN
fbem-2780	75	77	with	with	ADP
fbem-2780	75	78	international	international	ADJ
fbem-2780	75	79	influence	influence	NOUN
fbem-2780	75	80	.	.	PUNCT
fbem-2780	76	1	5.2	5.2	NUM
fbem-2780	76	2	.	.	PUNCT
fbem-2780	76	3	accelerate	accelerate	VERB
fbem-2780	76	4	the	the	DET
fbem-2780	76	5	construction	construction	NOUN
fbem-2780	76	6	of	of	ADP
fbem-2780	76	7	the	the	DET
fbem-2780	76	8	national	national	ADJ
fbem-2780	76	9	carbon	carbon	NOUN
fbem-2780	76	10	market	market	NOUN
fbem-2780	76	11	system	system	NOUN
fbem-2780	76	12	5.2.1	5.2.1	NOUN
fbem-2780	76	13	.	.	PUNCT
fbem-2780	77	1	explore	explore	VERB
fbem-2780	77	2	the	the	DET
fbem-2780	77	3	introduction	introduction	NOUN
fbem-2780	77	4	of	of	ADP
fbem-2780	77	5	diversified	diversified	ADJ
fbem-2780	77	6	trading	trading	NOUN
fbem-2780	77	7	methods	method	NOUN
fbem-2780	77	8	.	.	PUNCT
fbem-2780	78	1	the	the	DET
fbem-2780	78	2	existing	exist	VERB
fbem-2780	78	3	pilot	pilot	NOUN
fbem-2780	78	4	carbon	carbon	NOUN
fbem-2780	78	5	exchanges	exchange	NOUN
fbem-2780	78	6	are	be	AUX
fbem-2780	78	7	all	all	PRON
fbem-2780	78	8	listed	list	VERB
fbem-2780	78	9	and	and	CCONJ
fbem-2780	78	10	traded	trade	VERB
fbem-2780	78	11	in	in	ADP
fbem-2780	78	12	the	the	DET
fbem-2780	78	13	mode	mode	NOUN
fbem-2780	78	14	of	of	ADP
fbem-2780	78	15	over	over	ADP
fbem-2780	78	16	-	-	PUNCT
fbem-2780	78	17	the	the	DET
fbem-2780	78	18	-	-	PUNCT
fbem-2780	78	19	counter	counter	NOUN
fbem-2780	78	20	non	non	ADJ
fbem-2780	78	21	-	-	ADJ
fbem-2780	78	22	standardized	standardized	ADJ
fbem-2780	78	23	commodities	commodity	NOUN
fbem-2780	78	24	,	,	PUNCT
fbem-2780	78	25	which	which	PRON
fbem-2780	78	26	do	do	AUX
fbem-2780	78	27	not	not	PART
fbem-2780	78	28	allow	allow	VERB
fbem-2780	78	29	collective	collective	ADJ
fbem-2780	78	30	bidding	bidding	NOUN
fbem-2780	78	31	,	,	PUNCT
fbem-2780	78	32	and	and	CCONJ
fbem-2780	78	33	there	there	PRON
fbem-2780	78	34	is	be	VERB
fbem-2780	78	35	a	a	DET
fbem-2780	78	36	risk	risk	NOUN
fbem-2780	78	37	of	of	ADP
fbem-2780	78	38	price	price	NOUN
fbem-2780	78	39	manipulation	manipulation	NOUN
fbem-2780	78	40	by	by	ADP
fbem-2780	78	41	knocking	knock	VERB
fbem-2780	78	42	a	a	DET
fbem-2780	78	43	large	large	ADJ
fbem-2780	78	44	number	number	NOUN
fbem-2780	78	45	of	of	ADP
fbem-2780	78	46	transactions	transaction	NOUN
fbem-2780	78	47	during	during	ADP
fbem-2780	78	48	the	the	DET
fbem-2780	78	49	short	short	ADJ
fbem-2780	78	50	period	period	NOUN
fbem-2780	78	51	of	of	ADP
fbem-2780	78	52	opening	opening	NOUN
fbem-2780	78	53	.	.	PUNCT
fbem-2780	79	1	it	it	PRON
fbem-2780	79	2	is	be	AUX
fbem-2780	79	3	suggested	suggest	VERB
fbem-2780	79	4	that	that	SCONJ
fbem-2780	79	5	on	on	ADP
fbem-2780	79	6	the	the	DET
fbem-2780	79	7	basis	basis	NOUN
fbem-2780	79	8	of	of	ADP
fbem-2780	79	9	full	full	ADJ
fbem-2780	79	10	demonstration	demonstration	NOUN
fbem-2780	79	11	of	of	ADP
fbem-2780	79	12	feasibility	feasibility	NOUN
fbem-2780	79	13	,	,	PUNCT
fbem-2780	79	14	a	a	DET
fbem-2780	79	15	bidding	bidding	NOUN
fbem-2780	79	16	mechanism	mechanism	NOUN
fbem-2780	79	17	should	should	AUX
fbem-2780	79	18	be	be	AUX
fbem-2780	79	19	introduced	introduce	VERB
fbem-2780	79	20	in	in	ADP
fbem-2780	79	21	due	due	ADJ
fbem-2780	79	22	course	course	NOUN
fbem-2780	79	23	,	,	PUNCT
fbem-2780	79	24	and	and	CCONJ
fbem-2780	79	25	the	the	DET
fbem-2780	79	26	trading	trading	NOUN
fbem-2780	79	27	method	method	NOUN
fbem-2780	79	28	of	of	ADP
fbem-2780	79	29	free	free	ADJ
fbem-2780	79	30	quotation	quotation	NOUN
fbem-2780	79	31	and	and	CCONJ
fbem-2780	79	32	aggregated	aggregate	VERB
fbem-2780	79	33	transaction	transaction	NOUN
fbem-2780	79	34	should	should	AUX
fbem-2780	79	35	be	be	AUX
fbem-2780	79	36	adopted	adopt	VERB
fbem-2780	79	37	,	,	PUNCT
fbem-2780	79	38	with	with	ADP
fbem-2780	79	39	aggregated	aggregate	VERB
fbem-2780	79	40	transaction	transaction	NOUN
fbem-2780	79	41	according	accord	VERB
fbem-2780	79	42	to	to	ADP
fbem-2780	79	43	the	the	DET
fbem-2780	79	44	principle	principle	NOUN
fbem-2780	79	45	of	of	ADP
fbem-2780	79	46	price	price	NOUN
fbem-2780	79	47	priority	priority	NOUN
fbem-2780	79	48	and	and	CCONJ
fbem-2780	79	49	time	time	NOUN
fbem-2780	79	50	priority	priority	NOUN
fbem-2780	79	51	,	,	PUNCT
fbem-2780	79	52	and	and	CCONJ
fbem-2780	79	53	market	market	NOUN
fbem-2780	79	54	maker	maker	NOUN
fbem-2780	79	55	mechanism	mechanism	NOUN
fbem-2780	79	56	and	and	CCONJ
fbem-2780	79	57	appropriate	appropriate	ADJ
fbem-2780	79	58	investor	investor	NOUN
fbem-2780	79	59	system	system	NOUN
fbem-2780	79	60	should	should	AUX
fbem-2780	79	61	be	be	AUX
fbem-2780	79	62	introduced	introduce	VERB
fbem-2780	79	63	to	to	PART
fbem-2780	79	64	allow	allow	VERB
fbem-2780	79	65	institutions	institution	NOUN
fbem-2780	79	66	and	and	CCONJ
fbem-2780	79	67	individuals	individual	NOUN
fbem-2780	79	68	to	to	PART
fbem-2780	79	69	participate	participate	VERB
fbem-2780	79	70	in	in	ADP
fbem-2780	79	71	the	the	DET
fbem-2780	79	72	market	market	NOUN
fbem-2780	79	73	,	,	PUNCT
fbem-2780	79	74	so	so	SCONJ
fbem-2780	79	75	as	as	SCONJ
fbem-2780	79	76	to	to	PART
fbem-2780	79	77	enhance	enhance	VERB
fbem-2780	79	78	trading	trading	NOUN
fbem-2780	79	79	efficiency	efficiency	NOUN
fbem-2780	79	80	and	and	CCONJ
fbem-2780	79	81	promote	promote	VERB
fbem-2780	79	82	price	price	NOUN
fbem-2780	79	83	discovery	discovery	NOUN
fbem-2780	79	84	.	.	PUNCT
fbem-2780	80	1	5.2.2	5.2.2	NUM
fbem-2780	80	2	.	.	PUNCT
fbem-2780	80	3	continuously	continuously	ADV
fbem-2780	80	4	enrich	enrich	VERB
fbem-2780	80	5	carbon	carbon	NOUN
fbem-2780	80	6	market	market	NOUN
fbem-2780	80	7	trading	trading	NOUN
fbem-2780	80	8	varieties	variety	NOUN
fbem-2780	80	9	.	.	PUNCT
fbem-2780	81	1	on	on	ADP
fbem-2780	81	2	the	the	DET
fbem-2780	81	3	basis	basis	NOUN
fbem-2780	81	4	of	of	ADP
fbem-2780	81	5	carbon	carbon	NOUN
fbem-2780	81	6	spot	spot	NOUN
fbem-2780	81	7	trading	trading	NOUN
fbem-2780	81	8	,	,	PUNCT
fbem-2780	81	9	explore	explore	VERB
fbem-2780	81	10	carbon	carbon	NOUN
fbem-2780	81	11	futures	future	NOUN
fbem-2780	81	12	,	,	PUNCT
fbem-2780	81	13	carbon	carbon	NOUN
fbem-2780	81	14	options	option	NOUN
fbem-2780	81	15	and	and	CCONJ
fbem-2780	81	16	other	other	ADJ
fbem-2780	81	17	derivatives	derivative	NOUN
fbem-2780	81	18	trading	trading	NOUN
fbem-2780	81	19	.	.	PUNCT
fbem-2780	82	1	derivatives	derivative	NOUN
fbem-2780	82	2	have	have	VERB
fbem-2780	82	3	the	the	DET
fbem-2780	82	4	functions	function	NOUN
fbem-2780	82	5	of	of	ADP
fbem-2780	82	6	hedging	hedging	NOUN
fbem-2780	82	7	and	and	CCONJ
fbem-2780	82	8	risk	risk	NOUN
fbem-2780	82	9	transfer	transfer	NOUN
fbem-2780	82	10	,	,	PUNCT
fbem-2780	82	11	and	and	CCONJ
fbem-2780	82	12	market	market	NOUN
fbem-2780	82	13	participants	participant	NOUN
fbem-2780	82	14	can	can	AUX
fbem-2780	82	15	effectively	effectively	ADV
fbem-2780	82	16	hedge	hedge	VERB
fbem-2780	82	17	the	the	DET
fbem-2780	82	18	risks	risk	NOUN
fbem-2780	82	19	caused	cause	VERB
fbem-2780	82	20	by	by	ADP
fbem-2780	82	21	the	the	DET
fbem-2780	82	22	fluctuation	fluctuation	NOUN
fbem-2780	82	23	of	of	ADP
fbem-2780	82	24	carbon	carbon	NOUN
fbem-2780	82	25	emission	emission	NOUN
fbem-2780	82	26	rights	right	NOUN
fbem-2780	82	27	prices	price	NOUN
fbem-2780	82	28	through	through	ADP
fbem-2780	82	29	derivatives	derivative	NOUN
fbem-2780	82	30	.	.	PUNCT
fbem-2780	83	1	at	at	ADP
fbem-2780	83	2	the	the	DET
fbem-2780	83	3	same	same	ADJ
fbem-2780	83	4	time	time	NOUN
fbem-2780	83	5	,	,	PUNCT
fbem-2780	83	6	diversified	diversified	ADJ
fbem-2780	83	7	carbon	carbon	NOUN
fbem-2780	83	8	derivatives	derivative	NOUN
fbem-2780	83	9	are	be	AUX
fbem-2780	83	10	also	also	ADV
fbem-2780	83	11	conducive	conducive	ADJ
fbem-2780	83	12	to	to	ADP
fbem-2780	83	13	the	the	DET
fbem-2780	83	14	optimization	optimization	NOUN
fbem-2780	83	15	of	of	ADP
fbem-2780	83	16	the	the	DET
fbem-2780	83	17	structure	structure	NOUN
fbem-2780	83	18	of	of	ADP
fbem-2780	83	19	market	market	NOUN
fbem-2780	83	20	participants	participant	NOUN
fbem-2780	83	21	and	and	CCONJ
fbem-2780	83	22	the	the	DET
fbem-2780	83	23	expansion	expansion	NOUN
fbem-2780	83	24	of	of	ADP
fbem-2780	83	25	trading	trading	NOUN
fbem-2780	83	26	volume	volume	NOUN
fbem-2780	83	27	,	,	PUNCT
fbem-2780	83	28	which	which	PRON
fbem-2780	83	29	will	will	AUX
fbem-2780	83	30	also	also	ADV
fbem-2780	83	31	further	far	ADV
fbem-2780	83	32	enhance	enhance	VERB
fbem-2780	83	33	the	the	DET
fbem-2780	83	34	pricing	pricing	NOUN
fbem-2780	83	35	efficiency	efficiency	NOUN
fbem-2780	83	36	and	and	CCONJ
fbem-2780	83	37	accuracy	accuracy	NOUN
fbem-2780	83	38	of	of	ADP
fbem-2780	83	39	the	the	DET
fbem-2780	83	40	underlying	underlie	VERB
fbem-2780	83	41	products	product	NOUN
fbem-2780	83	42	in	in	ADP
fbem-2780	83	43	the	the	DET
fbem-2780	83	44	derivatives	derivative	NOUN
fbem-2780	83	45	market	market	NOUN
fbem-2780	83	46	.	.	PUNCT
fbem-2780	84	1	5.3	5.3	NUM
fbem-2780	84	2	.	.	PUNCT
fbem-2780	84	3	steadily	steadily	ADV
fbem-2780	84	4	promote	promote	VERB
fbem-2780	84	5	the	the	DET
fbem-2780	84	6	construction	construction	NOUN
fbem-2780	84	7	of	of	ADP
fbem-2780	84	8	a	a	DET
fbem-2780	84	9	national	national	ADJ
fbem-2780	84	10	carbon	carbon	NOUN
fbem-2780	84	11	market	market	NOUN
fbem-2780	84	12	accelerate	accelerate	VERB
fbem-2780	84	13	the	the	DET
fbem-2780	84	14	formulation	formulation	NOUN
fbem-2780	84	15	of	of	ADP
fbem-2780	84	16	a	a	DET
fbem-2780	84	17	national	national	ADJ
fbem-2780	84	18	carbon	carbon	NOUN
fbem-2780	84	19	market	market	NOUN
fbem-2780	84	20	development	development	NOUN
fbem-2780	84	21	master	master	NOUN
fbem-2780	84	22	plan	plan	VERB
fbem-2780	84	23	the	the	DET
fbem-2780	84	24	construction	construction	NOUN
fbem-2780	84	25	of	of	ADP
fbem-2780	84	26	a	a	DET
fbem-2780	84	27	national	national	ADJ
fbem-2780	84	28	carbon	carbon	NOUN
fbem-2780	84	29	market	market	NOUN
fbem-2780	84	30	is	be	AUX
fbem-2780	84	31	a	a	DET
fbem-2780	84	32	systematic	systematic	ADJ
fbem-2780	84	33	and	and	CCONJ
fbem-2780	84	34	long	long	ADJ
fbem-2780	84	35	-	-	PUNCT
fbem-2780	84	36	term	term	NOUN
fbem-2780	84	37	work	work	NOUN
fbem-2780	84	38	,	,	PUNCT
fbem-2780	84	39	which	which	PRON
fbem-2780	84	40	requires	require	VERB
fbem-2780	84	41	the	the	DET
fbem-2780	84	42	formulation	formulation	NOUN
fbem-2780	84	43	of	of	ADP
fbem-2780	84	44	a	a	DET
fbem-2780	84	45	clear	clear	ADJ
fbem-2780	84	46	roadmap	roadmap	NOUN
fbem-2780	84	47	covering	cover	VERB
fbem-2780	84	48	the	the	DET
fbem-2780	84	49	near	near	ADJ
fbem-2780	84	50	,	,	PUNCT
fbem-2780	84	51	medium	medium	ADJ
fbem-2780	84	52	and	and	CCONJ
fbem-2780	84	53	long	long	ADJ
fbem-2780	84	54	term	term	NOUN
fbem-2780	84	55	,	,	PUNCT
fbem-2780	84	56	and	and	CCONJ
fbem-2780	84	57	the	the	DET
fbem-2780	84	58	promotion	promotion	NOUN
fbem-2780	84	59	of	of	ADP
fbem-2780	84	60	the	the	DET
fbem-2780	84	61	construction	construction	NOUN
fbem-2780	84	62	of	of	ADP
fbem-2780	84	63	a	a	DET
fbem-2780	84	64	national	national	ADJ
fbem-2780	84	65	carbon	carbon	NOUN
fbem-2780	84	66	market	market	NOUN
fbem-2780	84	67	in	in	ADP
fbem-2780	84	68	steps	step	NOUN
fbem-2780	84	69	and	and	CCONJ
fbem-2780	84	70	phases	phase	NOUN
fbem-2780	84	71	around	around	ADP
fbem-2780	84	72	the	the	DET
fbem-2780	84	73	goals	goal	NOUN
fbem-2780	84	74	of	of	ADP
fbem-2780	84	75	carbon	carbon	NOUN
fbem-2780	84	76	peak	peak	NOUN
fbem-2780	84	77	and	and	CCONJ
fbem-2780	84	78	carbon	carbon	NOUN
fbem-2780	84	79	neutral	neutral	ADJ
fbem-2780	84	80	.	.	PUNCT
fbem-2780	85	1	the	the	DET
fbem-2780	85	2	first	first	ADJ
fbem-2780	85	3	stage	stage	NOUN
fbem-2780	85	4	is	be	AUX
fbem-2780	85	5	the	the	DET
fbem-2780	85	6	policy	policy	NOUN
fbem-2780	85	7	improvement	improvement	NOUN
fbem-2780	85	8	period	period	NOUN
fbem-2780	85	9	.	.	PUNCT
fbem-2780	86	1	the	the	DET
fbem-2780	86	2	focus	focus	NOUN
fbem-2780	86	3	of	of	ADP
fbem-2780	86	4	this	this	DET
fbem-2780	86	5	phase	phase	NOUN
fbem-2780	86	6	is	be	AUX
fbem-2780	86	7	to	to	PART
fbem-2780	86	8	establish	establish	VERB
fbem-2780	86	9	and	and	CCONJ
fbem-2780	86	10	implement	implement	VERB
fbem-2780	86	11	laws	law	NOUN
fbem-2780	86	12	,	,	PUNCT
fbem-2780	86	13	regulations	regulation	NOUN
fbem-2780	86	14	and	and	CCONJ
fbem-2780	86	15	institutional	institutional	ADJ
fbem-2780	86	16	systems	system	NOUN
fbem-2780	86	17	that	that	PRON
fbem-2780	86	18	are	be	AUX
fbem-2780	86	19	compatible	compatible	ADJ
fbem-2780	86	20	with	with	ADP
fbem-2780	86	21	the	the	DET
fbem-2780	86	22	national	national	ADJ
fbem-2780	86	23	carbon	carbon	NOUN
fbem-2780	86	24	market	market	NOUN
fbem-2780	86	25	.	.	PUNCT
fbem-2780	87	1	the	the	DET
fbem-2780	87	2	second	second	ADJ
fbem-2780	87	3	stage	stage	NOUN
fbem-2780	87	4	is	be	AUX
fbem-2780	87	5	the	the	DET
fbem-2780	87	6	high	high	ADJ
fbem-2780	87	7	speed	speed	NOUN
fbem-2780	87	8	development	development	NOUN
fbem-2780	87	9	period	period	NOUN
fbem-2780	87	10	.	.	PUNCT
fbem-2780	88	1	this	this	DET
fbem-2780	88	2	phase	phase	NOUN
fbem-2780	88	3	is	be	AUX
fbem-2780	88	4	the	the	DET
fbem-2780	88	5	key	key	ADJ
fbem-2780	88	6	period	period	NOUN
fbem-2780	88	7	to	to	PART
fbem-2780	88	8	achieve	achieve	VERB
fbem-2780	88	9	the	the	DET
fbem-2780	88	10	carbon	carbon	NOUN
fbem-2780	88	11	peak	peak	NOUN
fbem-2780	88	12	target	target	NOUN
fbem-2780	88	13	,	,	PUNCT
fbem-2780	88	14	and	and	CCONJ
fbem-2780	88	15	is	be	AUX
fbem-2780	88	16	the	the	DET
fbem-2780	88	17	transition	transition	NOUN
fbem-2780	88	18	period	period	NOUN
fbem-2780	88	19	from	from	ADP
fbem-2780	88	20	relative	relative	ADJ
fbem-2780	88	21	emission	emission	NOUN
fbem-2780	88	22	reduction	reduction	NOUN
fbem-2780	88	23	to	to	ADP
fbem-2780	88	24	absolute	absolute	ADJ
fbem-2780	88	25	emission	emission	NOUN
fbem-2780	88	26	reduction	reduction	NOUN
fbem-2780	88	27	.	.	PUNCT
fbem-2780	89	1	the	the	DET
fbem-2780	89	2	national	national	ADJ
fbem-2780	89	3	carbon	carbon	NOUN
fbem-2780	89	4	market	market	NOUN
fbem-2780	89	5	transitions	transition	NOUN
fbem-2780	89	6	from	from	ADP
fbem-2780	89	7	relative	relative	ADJ
fbem-2780	89	8	amount	amount	NOUN
fbem-2780	89	9	to	to	ADP
fbem-2780	89	10	total	total	ADJ
fbem-2780	89	11	amount	amount	NOUN
fbem-2780	89	12	control	control	NOUN
fbem-2780	89	13	,	,	PUNCT
fbem-2780	89	14	and	and	CCONJ
fbem-2780	89	15	the	the	DET
fbem-2780	89	16	total	total	ADJ
fbem-2780	89	17	amount	amount	NOUN
fbem-2780	89	18	target	target	NOUN
fbem-2780	89	19	is	be	AUX
fbem-2780	89	20	effectively	effectively	ADV
fbem-2780	89	21	connected	connect	VERB
fbem-2780	89	22	with	with	ADP
fbem-2780	89	23	the	the	DET
fbem-2780	89	24	target	target	NOUN
fbem-2780	89	25	of	of	ADP
fbem-2780	89	26	carbon	carbon	NOUN
fbem-2780	89	27	peaking	peaking	NOUN
fbem-2780	89	28	in	in	ADP
fbem-2780	89	29	each	each	DET
fbem-2780	89	30	province	province	NOUN
fbem-2780	89	31	,	,	PUNCT
fbem-2780	89	32	so	so	SCONJ
fbem-2780	89	33	that	that	SCONJ
fbem-2780	89	34	all	all	DET
fbem-2780	89	35	regions	region	NOUN
fbem-2780	89	36	and	and	CCONJ
fbem-2780	89	37	industries	industry	NOUN
fbem-2780	89	38	can	can	AUX
fbem-2780	89	39	optimize	optimize	VERB
fbem-2780	89	40	the	the	DET
fbem-2780	89	41	allocation	allocation	NOUN
fbem-2780	89	42	of	of	ADP
fbem-2780	89	43	carbon	carbon	NOUN
fbem-2780	89	44	quota	quota	NOUN
fbem-2780	89	45	resources	resource	NOUN
fbem-2780	89	46	and	and	CCONJ
fbem-2780	89	47	reduce	reduce	VERB
fbem-2780	89	48	the	the	DET
fbem-2780	89	49	cost	cost	NOUN
fbem-2780	89	50	of	of	ADP
fbem-2780	89	51	emission	emission	NOUN
fbem-2780	89	52	control	control	NOUN
fbem-2780	89	53	through	through	ADP
fbem-2780	89	54	the	the	DET
fbem-2780	89	55	national	national	ADJ
fbem-2780	89	56	carbon	carbon	NOUN
fbem-2780	89	57	market	market	NOUN
fbem-2780	89	58	.	.	PUNCT
fbem-2780	90	1	the	the	DET
fbem-2780	90	2	third	third	ADJ
fbem-2780	90	3	stage	stage	NOUN
fbem-2780	90	4	is	be	AUX
fbem-2780	90	5	the	the	DET
fbem-2780	90	6	operational	operational	ADJ
fbem-2780	90	7	maturity	maturity	NOUN
fbem-2780	90	8	period	period	NOUN
fbem-2780	90	9	.	.	PUNCT
fbem-2780	91	1	the	the	DET
fbem-2780	91	2	central	central	ADJ
fbem-2780	91	3	task	task	NOUN
fbem-2780	91	4	of	of	ADP
fbem-2780	91	5	the	the	DET
fbem-2780	91	6	national	national	ADJ
fbem-2780	91	7	carbon	carbon	NOUN
fbem-2780	91	8	market	market	NOUN
fbem-2780	91	9	in	in	ADP
fbem-2780	91	10	this	this	DET
fbem-2780	91	11	stage	stage	NOUN
fbem-2780	91	12	is	be	AUX
fbem-2780	91	13	to	to	PART
fbem-2780	91	14	strengthen	strengthen	VERB
fbem-2780	91	15	the	the	DET
fbem-2780	91	16	total	total	ADJ
fbem-2780	91	17	amount	amount	NOUN
fbem-2780	91	18	of	of	ADP
fbem-2780	91	19	control	control	NOUN
fbem-2780	91	20	,	,	PUNCT
fbem-2780	91	21	continue	continue	VERB
fbem-2780	91	22	to	to	PART
fbem-2780	91	23	tighten	tighten	VERB
fbem-2780	91	24	the	the	DET
fbem-2780	91	25	supply	supply	NOUN
fbem-2780	91	26	of	of	ADP
fbem-2780	91	27	allowances	allowance	NOUN
fbem-2780	91	28	,	,	PUNCT
fbem-2780	91	29	and	and	CCONJ
fbem-2780	91	30	form	form	VERB
fbem-2780	91	31	a	a	DET
fbem-2780	91	32	stable	stable	ADJ
fbem-2780	91	33	upward	upward	ADJ
fbem-2780	91	34	trend	trend	NOUN
fbem-2780	91	35	of	of	ADP
fbem-2780	91	36	carbon	carbon	NOUN
fbem-2780	91	37	price	price	NOUN
fbem-2780	91	38	,	,	PUNCT
fbem-2780	91	39	so	so	SCONJ
fbem-2780	91	40	as	as	SCONJ
fbem-2780	91	41	to	to	PART
fbem-2780	91	42	promote	promote	VERB
fbem-2780	91	43	the	the	DET
fbem-2780	91	44	total	total	ADJ
fbem-2780	91	45	amount	amount	NOUN
fbem-2780	91	46	of	of	ADP
fbem-2780	91	47	carbon	carbon	NOUN
fbem-2780	91	48	emissions	emission	NOUN
fbem-2780	91	49	to	to	PART
fbem-2780	91	50	move	move	VERB
fbem-2780	91	51	from	from	ADP
fbem-2780	91	52	"	"	PUNCT
fbem-2780	91	53	stable	stable	ADJ
fbem-2780	91	54	"	"	PUNCT
fbem-2780	91	55	in	in	ADP
fbem-2780	91	56	the	the	DET
fbem-2780	91	57	plateau	plateau	NOUN
fbem-2780	91	58	period	period	NOUN
fbem-2780	91	59	to	to	ADP
fbem-2780	91	60	"	"	PUNCT
fbem-2780	91	61	down	down	ADV
fbem-2780	91	62	"	"	PUNCT
fbem-2780	91	63	in	in	ADP
fbem-2780	91	64	the	the	DET
fbem-2780	91	65	downward	downward	ADJ
fbem-2780	91	66	period	period	NOUN
fbem-2780	91	67	as	as	ADV
fbem-2780	91	68	soon	soon	ADV
fbem-2780	91	69	as	as	ADP
fbem-2780	91	70	possible	possible	ADJ
fbem-2780	91	71	after	after	ADP
fbem-2780	91	72	achieving	achieve	VERB
fbem-2780	91	73	the	the	DET
fbem-2780	91	74	carbon	carbon	NOUN
fbem-2780	91	75	peak	peak	NOUN
fbem-2780	91	76	target	target	NOUN
fbem-2780	91	77	.	.	PUNCT
fbem-2780	92	1	by	by	ADP
fbem-2780	92	2	contracting	contract	VERB
fbem-2780	92	3	the	the	DET
fbem-2780	92	4	total	total	ADJ
fbem-2780	92	5	amount	amount	NOUN
fbem-2780	92	6	of	of	ADP
fbem-2780	92	7	allowances	allowance	NOUN
fbem-2780	92	8	and	and	CCONJ
fbem-2780	92	9	using	use	VERB
fbem-2780	92	10	carbon	carbon	NOUN
fbem-2780	92	11	price	price	NOUN
fbem-2780	92	12	signals	signal	NOUN
fbem-2780	92	13	to	to	PART
fbem-2780	92	14	drive	drive	VERB
fbem-2780	92	15	emission	emission	NOUN
fbem-2780	92	16	control	control	NOUN
fbem-2780	92	17	enterprises	enterprise	NOUN
fbem-2780	92	18	to	to	PART
fbem-2780	92	19	pay	pay	VERB
fbem-2780	92	20	attention	attention	NOUN
fbem-2780	92	21	to	to	ADP
fbem-2780	92	22	low	low	ADJ
fbem-2780	92	23	-	-	PUNCT
fbem-2780	92	24	carbon	carbon	NOUN
fbem-2780	92	25	technology	technology	NOUN
fbem-2780	92	26	innovation	innovation	NOUN
fbem-2780	92	27	,	,	PUNCT
fbem-2780	92	28	it	it	PRON
fbem-2780	92	29	will	will	AUX
fbem-2780	92	30	provide	provide	VERB
fbem-2780	92	31	long	long	ADJ
fbem-2780	92	32	-	-	PUNCT
fbem-2780	92	33	term	term	NOUN
fbem-2780	92	34	impetus	impetus	NOUN
fbem-2780	92	35	for	for	ADP
fbem-2780	92	36	china	china	PROPN
fbem-2780	92	37	's	's	PART
fbem-2780	92	38	low	low	ADJ
fbem-2780	92	39	-	-	PUNCT
fbem-2780	92	40	carbon	carbon	NOUN
fbem-2780	92	41	transition	transition	NOUN
fbem-2780	92	42	.	.	PUNCT
fbem-2780	93	1	5.4	5.4	NUM
fbem-2780	93	2	.	.	PUNCT
fbem-2780	94	1	establishing	establish	VERB
fbem-2780	94	2	a	a	DET
fbem-2780	94	3	carbon	carbon	NOUN
fbem-2780	94	4	market	market	NOUN
fbem-2780	94	5	risk	risk	NOUN
fbem-2780	94	6	identification	identification	NOUN
fbem-2780	94	7	and	and	CCONJ
fbem-2780	94	8	prevention	prevention	NOUN
fbem-2780	94	9	mechanism	mechanism	NOUN
fbem-2780	94	10	5.4.1	5.4.1	NUM
fbem-2780	94	11	.	.	PUNCT
fbem-2780	94	12	unify	unify	VERB
fbem-2780	94	13	market	market	NOUN
fbem-2780	94	14	supervision	supervision	NOUN
fbem-2780	94	15	,	,	PUNCT
fbem-2780	94	16	establish	establish	VERB
fbem-2780	94	17	a	a	DET
fbem-2780	94	18	regulatory	regulatory	ADJ
fbem-2780	94	19	synergy	synergy	NOUN
fbem-2780	94	20	mechanism	mechanism	NOUN
fbem-2780	94	21	,	,	PUNCT
fbem-2780	94	22	clarify	clarify	VERB
fbem-2780	94	23	the	the	DET
fbem-2780	94	24	division	division	NOUN
fbem-2780	94	25	of	of	ADP
fbem-2780	94	26	powers	power	NOUN
fbem-2780	94	27	and	and	CCONJ
fbem-2780	94	28	responsibilities	responsibility	NOUN
fbem-2780	94	29	,	,	PUNCT
fbem-2780	94	30	and	and	CCONJ
fbem-2780	94	31	implement	implement	VERB
fbem-2780	94	32	the	the	DET
fbem-2780	94	33	main	main	ADJ
fbem-2780	94	34	responsibilities	responsibility	NOUN
fbem-2780	94	35	.	.	PUNCT
fbem-2780	95	1	it	it	PRON
fbem-2780	95	2	is	be	AUX
fbem-2780	95	3	recommended	recommend	VERB
fbem-2780	95	4	to	to	PART
fbem-2780	95	5	clarify	clarify	VERB
fbem-2780	95	6	the	the	DET
fbem-2780	95	7	boundaries	boundary	NOUN
fbem-2780	95	8	of	of	ADP
fbem-2780	95	9	the	the	DET
fbem-2780	95	10	various	various	ADJ
fbem-2780	95	11	regulatory	regulatory	ADJ
fbem-2780	95	12	departments	department	NOUN
fbem-2780	95	13	and	and	CCONJ
fbem-2780	95	14	the	the	DET
fbem-2780	95	15	powers	power	NOUN
fbem-2780	95	16	and	and	CCONJ
fbem-2780	95	17	responsibilities	responsibility	NOUN
fbem-2780	95	18	of	of	ADP
fbem-2780	95	19	the	the	DET
fbem-2780	95	20	subjects	subject	NOUN
fbem-2780	95	21	in	in	ADP
fbem-2780	95	22	the	the	DET
fbem-2780	95	23	national	national	ADJ
fbem-2780	95	24	carbon	carbon	NOUN
fbem-2780	95	25	market	market	NOUN
fbem-2780	95	26	in	in	ADP
fbem-2780	95	27	accordance	accordance	NOUN
fbem-2780	95	28	with	with	ADP
fbem-2780	95	29	the	the	DET
fbem-2780	95	30	principle	principle	NOUN
fbem-2780	95	31	of	of	ADP
fbem-2780	95	32	consistency	consistency	NOUN
fbem-2780	95	33	of	of	ADP
fbem-2780	95	34	powers	power	NOUN
fbem-2780	95	35	and	and	CCONJ
fbem-2780	95	36	responsibilities	responsibility	NOUN
fbem-2780	95	37	.	.	PUNCT
fbem-2780	96	1	the	the	DET
fbem-2780	96	2	ministry	ministry	PROPN
fbem-2780	96	3	of	of	ADP
fbem-2780	96	4	ecology	ecology	NOUN
fbem-2780	96	5	and	and	CCONJ
fbem-2780	96	6	environment	environment	NOUN
fbem-2780	96	7	is	be	AUX
fbem-2780	96	8	responsible	responsible	ADJ
fbem-2780	96	9	for	for	ADP
fbem-2780	96	10	66	66	NUM
fbem-2780	96	11	the	the	DET
fbem-2780	96	12	comprehensive	comprehensive	ADJ
fbem-2780	96	13	coordination	coordination	NOUN
fbem-2780	96	14	,	,	PUNCT
fbem-2780	96	15	organization	organization	NOUN
fbem-2780	96	16	and	and	CCONJ
fbem-2780	96	17	implementation	implementation	NOUN
fbem-2780	96	18	,	,	PUNCT
fbem-2780	96	19	supervision	supervision	NOUN
fbem-2780	96	20	and	and	CCONJ
fbem-2780	96	21	management	management	NOUN
fbem-2780	96	22	of	of	ADP
fbem-2780	96	23	carbon	carbon	NOUN
fbem-2780	96	24	emission	emission	NOUN
fbem-2780	96	25	management	management	NOUN
fbem-2780	96	26	and	and	CCONJ
fbem-2780	96	27	trading	trading	NOUN
fbem-2780	96	28	,	,	PUNCT
fbem-2780	96	29	such	such	ADJ
fbem-2780	96	30	as	as	ADP
fbem-2780	96	31	the	the	DET
fbem-2780	96	32	scope	scope	NOUN
fbem-2780	96	33	of	of	ADP
fbem-2780	96	34	the	the	DET
fbem-2780	96	35	main	main	ADJ
fbem-2780	96	36	body	body	NOUN
fbem-2780	96	37	,	,	PUNCT
fbem-2780	96	38	quota	quota	NOUN
fbem-2780	96	39	allocation	allocation	NOUN
fbem-2780	96	40	,	,	PUNCT
fbem-2780	96	41	carbon	carbon	NOUN
fbem-2780	96	42	emission	emission	NOUN
fbem-2780	96	43	reporting	reporting	NOUN
fbem-2780	96	44	and	and	CCONJ
fbem-2780	96	45	verification	verification	NOUN
fbem-2780	96	46	,	,	PUNCT
fbem-2780	96	47	etc	etc	X
fbem-2780	96	48	.	.	X
fbem-2780	97	1	it	it	PRON
fbem-2780	97	2	also	also	ADV
fbem-2780	97	3	reviews	review	VERB
fbem-2780	97	4	the	the	DET
fbem-2780	97	5	relevant	relevant	ADJ
fbem-2780	97	6	business	business	NOUN
fbem-2780	97	7	rules	rule	NOUN
fbem-2780	97	8	formulated	formulate	VERB
fbem-2780	97	9	by	by	ADP
fbem-2780	97	10	trading	trading	NOUN
fbem-2780	97	11	institutions	institution	NOUN
fbem-2780	97	12	and	and	CCONJ
fbem-2780	97	13	registration	registration	NOUN
fbem-2780	97	14	and	and	CCONJ
fbem-2780	97	15	settlement	settlement	NOUN
fbem-2780	97	16	institutions	institution	NOUN
fbem-2780	97	17	,	,	PUNCT
fbem-2780	97	18	and	and	CCONJ
fbem-2780	97	19	provides	provide	VERB
fbem-2780	97	20	overall	overall	ADJ
fbem-2780	97	21	gatekeeping	gatekeeping	NOUN
fbem-2780	97	22	for	for	ADP
fbem-2780	97	23	the	the	DET
fbem-2780	97	24	relevant	relevant	ADJ
fbem-2780	97	25	processes	process	NOUN
fbem-2780	97	26	involved	involve	VERB
fbem-2780	97	27	in	in	ADP
fbem-2780	97	28	the	the	DET
fbem-2780	97	29	participation	participation	NOUN
fbem-2780	97	30	of	of	ADP
fbem-2780	97	31	enterprises	enterprise	NOUN
fbem-2780	97	32	in	in	ADP
fbem-2780	97	33	carbon	carbon	NOUN
fbem-2780	97	34	trading	trading	NOUN
fbem-2780	97	35	,	,	PUNCT
fbem-2780	97	36	and	and	CCONJ
fbem-2780	97	37	specifies	specify	VERB
fbem-2780	97	38	the	the	DET
fbem-2780	97	39	corresponding	corresponding	ADJ
fbem-2780	97	40	penalties	penalty	NOUN
fbem-2780	97	41	.	.	PUNCT
fbem-2780	98	1	the	the	DET
fbem-2780	98	2	national	national	PROPN
fbem-2780	98	3	financial	financial	PROPN
fbem-2780	98	4	regulatory	regulatory	PROPN
fbem-2780	98	5	department	department	NOUN
fbem-2780	98	6	is	be	AUX
fbem-2780	98	7	mainly	mainly	ADV
fbem-2780	98	8	responsible	responsible	ADJ
fbem-2780	98	9	for	for	ADP
fbem-2780	98	10	formulating	formulate	VERB
fbem-2780	98	11	the	the	DET
fbem-2780	98	12	relevant	relevant	ADJ
fbem-2780	98	13	carbon	carbon	NOUN
fbem-2780	98	14	finance	finance	NOUN
fbem-2780	98	15	management	management	NOUN
fbem-2780	98	16	system	system	NOUN
fbem-2780	98	17	and	and	CCONJ
fbem-2780	98	18	monitoring	monitor	VERB
fbem-2780	98	19	the	the	DET
fbem-2780	98	20	risks	risk	NOUN
fbem-2780	98	21	of	of	ADP
fbem-2780	98	22	financial	financial	ADJ
fbem-2780	98	23	institutions	institution	NOUN
fbem-2780	98	24	involved	involve	VERB
fbem-2780	98	25	in	in	ADP
fbem-2780	98	26	carbon	carbon	NOUN
fbem-2780	98	27	trading	trading	NOUN
fbem-2780	98	28	.	.	PUNCT
fbem-2780	99	1	5.4.2	5.4.2	X
fbem-2780	99	2	.	.	X
fbem-2780	99	3	improve	improve	VERB
fbem-2780	99	4	information	information	NOUN
fbem-2780	99	5	sharing	sharing	NOUN
fbem-2780	99	6	and	and	CCONJ
fbem-2780	99	7	strengthen	strengthen	VERB
fbem-2780	99	8	cooperative	cooperative	ADJ
fbem-2780	99	9	supervision	supervision	NOUN
fbem-2780	99	10	.	.	PUNCT
fbem-2780	100	1	from	from	ADP
fbem-2780	100	2	the	the	DET
fbem-2780	100	3	current	current	ADJ
fbem-2780	100	4	situation	situation	NOUN
fbem-2780	100	5	of	of	ADP
fbem-2780	100	6	information	information	NOUN
fbem-2780	100	7	disclosure	disclosure	NOUN
fbem-2780	100	8	in	in	ADP
fbem-2780	100	9	the	the	DET
fbem-2780	100	10	carbon	carbon	NOUN
fbem-2780	100	11	market	market	NOUN
fbem-2780	100	12	,	,	PUNCT
fbem-2780	100	13	there	there	PRON
fbem-2780	100	14	are	be	VERB
fbem-2780	100	15	large	large	ADJ
fbem-2780	100	16	differences	difference	NOUN
fbem-2780	100	17	in	in	ADP
fbem-2780	100	18	the	the	DET
fbem-2780	100	19	degree	degree	NOUN
fbem-2780	100	20	of	of	ADP
fbem-2780	100	21	information	information	NOUN
fbem-2780	100	22	disclosure	disclosure	NOUN
fbem-2780	100	23	in	in	ADP
fbem-2780	100	24	each	each	DET
fbem-2780	100	25	local	local	ADJ
fbem-2780	100	26	market	market	NOUN
fbem-2780	100	27	,	,	PUNCT
fbem-2780	100	28	and	and	CCONJ
fbem-2780	100	29	there	there	PRON
fbem-2780	100	30	are	be	VERB
fbem-2780	100	31	also	also	ADV
fbem-2780	100	32	problems	problem	NOUN
fbem-2780	100	33	such	such	ADJ
fbem-2780	100	34	as	as	ADP
fbem-2780	100	35	too	too	ADV
fbem-2780	100	36	conservative	conservative	ADJ
fbem-2780	100	37	public	public	ADJ
fbem-2780	100	38	information	information	NOUN
fbem-2780	100	39	,	,	PUNCT
fbem-2780	100	40	little	little	ADJ
fbem-2780	100	41	substantive	substantive	ADJ
fbem-2780	100	42	information	information	NOUN
fbem-2780	100	43	content	content	NOUN
fbem-2780	100	44	,	,	PUNCT
fbem-2780	100	45	and	and	CCONJ
fbem-2780	100	46	insufficient	insufficient	ADJ
fbem-2780	100	47	information	information	NOUN
fbem-2780	100	48	concentration	concentration	NOUN
fbem-2780	100	49	,	,	PUNCT
fbem-2780	100	50	etc	etc	X
fbem-2780	100	51	.	.	X
fbem-2780	101	1	it	it	PRON
fbem-2780	101	2	is	be	AUX
fbem-2780	101	3	urgent	urgent	ADJ
fbem-2780	101	4	to	to	PART
fbem-2780	101	5	build	build	VERB
fbem-2780	101	6	a	a	DET
fbem-2780	101	7	perfect	perfect	ADJ
fbem-2780	101	8	carbon	carbon	NOUN
fbem-2780	101	9	market	market	NOUN
fbem-2780	101	10	information	information	NOUN
fbem-2780	101	11	disclosure	disclosure	NOUN
fbem-2780	101	12	system	system	NOUN
fbem-2780	101	13	.	.	PUNCT
fbem-2780	102	1	5.4.3	5.4.3	X
fbem-2780	102	2	.	.	PUNCT
fbem-2780	103	1	promote	promote	VERB
fbem-2780	103	2	the	the	DET
fbem-2780	103	3	implementation	implementation	NOUN
fbem-2780	103	4	of	of	ADP
fbem-2780	103	5	responsibility	responsibility	NOUN
fbem-2780	103	6	and	and	CCONJ
fbem-2780	103	7	sound	sound	ADJ
fbem-2780	103	8	accountability	accountability	NOUN
fbem-2780	103	9	mechanism	mechanism	NOUN
fbem-2780	103	10	.	.	PUNCT
fbem-2780	104	1	a	a	DET
fbem-2780	104	2	perfect	perfect	ADJ
fbem-2780	104	3	regulatory	regulatory	ADJ
fbem-2780	104	4	system	system	NOUN
fbem-2780	104	5	needs	need	VERB
fbem-2780	104	6	a	a	DET
fbem-2780	104	7	strong	strong	ADJ
fbem-2780	104	8	law	law	NOUN
fbem-2780	104	9	enforcement	enforcement	NOUN
fbem-2780	104	10	system	system	NOUN
fbem-2780	104	11	to	to	PART
fbem-2780	104	12	guarantee	guarantee	VERB
fbem-2780	104	13	,	,	PUNCT
fbem-2780	104	14	to	to	PART
fbem-2780	104	15	promote	promote	VERB
fbem-2780	104	16	the	the	DET
fbem-2780	104	17	implementation	implementation	NOUN
fbem-2780	104	18	of	of	ADP
fbem-2780	104	19	the	the	DET
fbem-2780	104	20	main	main	ADJ
fbem-2780	104	21	responsibility	responsibility	NOUN
fbem-2780	104	22	of	of	ADP
fbem-2780	104	23	all	all	DET
fbem-2780	104	24	parties	party	NOUN
fbem-2780	104	25	and	and	CCONJ
fbem-2780	104	26	strengthen	strengthen	VERB
fbem-2780	104	27	the	the	DET
fbem-2780	104	28	accountability	accountability	NOUN
fbem-2780	104	29	mechanism	mechanism	NOUN
fbem-2780	104	30	.	.	PUNCT
fbem-2780	105	1	explore	explore	VERB
fbem-2780	105	2	the	the	DET
fbem-2780	105	3	establishment	establishment	NOUN
fbem-2780	105	4	of	of	ADP
fbem-2780	105	5	a	a	DET
fbem-2780	105	6	national	national	ADJ
fbem-2780	105	7	credit	credit	NOUN
fbem-2780	105	8	management	management	NOUN
fbem-2780	105	9	system	system	NOUN
fbem-2780	105	10	for	for	ADP
fbem-2780	105	11	carbon	carbon	NOUN
fbem-2780	105	12	emissions	emission	NOUN
fbem-2780	105	13	,	,	PUNCT
fbem-2780	105	14	and	and	CCONJ
fbem-2780	105	15	incorporate	incorporate	VERB
fbem-2780	105	16	the	the	DET
fbem-2780	105	17	transaction	transaction	NOUN
fbem-2780	105	18	behavior	behavior	NOUN
fbem-2780	105	19	records	record	NOUN
fbem-2780	105	20	of	of	ADP
fbem-2780	105	21	key	key	ADJ
fbem-2780	105	22	emitters	emitter	NOUN
fbem-2780	105	23	,	,	PUNCT
fbem-2780	105	24	exchanges	exchange	NOUN
fbem-2780	105	25	,	,	PUNCT
fbem-2780	105	26	verification	verification	NOUN
fbem-2780	105	27	agencies	agency	NOUN
fbem-2780	105	28	and	and	CCONJ
fbem-2780	105	29	other	other	ADJ
fbem-2780	105	30	relevant	relevant	ADJ
fbem-2780	105	31	units	unit	NOUN
fbem-2780	105	32	and	and	CCONJ
fbem-2780	105	33	practitioners	practitioner	NOUN
fbem-2780	105	34	into	into	ADP
fbem-2780	105	35	the	the	DET
fbem-2780	105	36	credit	credit	NOUN
fbem-2780	105	37	system	system	NOUN
fbem-2780	105	38	.	.	PUNCT
fbem-2780	106	1	acknowledgment	acknowledgment	NOUN
fbem-2780	106	2	this	this	DET
fbem-2780	106	3	work	work	NOUN
fbem-2780	106	4	is	be	AUX
fbem-2780	106	5	supported	support	VERB
fbem-2780	106	6	by	by	ADP
fbem-2780	106	7	anhui	anhui	PROPN
fbem-2780	106	8	university	university	PROPN
fbem-2780	106	9	of	of	ADP
fbem-2780	106	10	finance	finance	PROPN
fbem-2780	106	11	and	and	CCONJ
fbem-2780	106	12	economics	economic	NOUN
fbem-2780	106	13	undergraduate	undergraduate	PROPN
fbem-2780	106	14	research	research	NOUN
fbem-2780	106	15	innovation	innovation	NOUN
fbem-2780	106	16	fund	fund	PROPN
fbem-2780	106	17	project	project	NOUN
fbem-2780	106	18	fund	fund	NOUN
fbem-2780	106	19	,	,	PUNCT
fbem-2780	106	20	project	project	NOUN
fbem-2780	106	21	number	number	NOUN
fbem-2780	106	22	:	:	PUNCT
fbem-2780	107	1	xsky22009zd	xsky22009zd	PROPN
fbem-2780	107	2	.	.	PUNCT
fbem-2780	108	1	references	reference	NOUN
fbem-2780	108	2	[	[	X
fbem-2780	108	3	1	1	NUM
fbem-2780	108	4	]	]	X
fbem-2780	108	5	lu	lu	PROPN
fbem-2780	108	6	zhaoyang	zhaoyang	PROPN
fbem-2780	108	7	,	,	PUNCT
fbem-2780	108	8	du	du	PROPN
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fbem-2780	108	10	.	.	PUNCT
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fbem-2780	109	3	study	study	NOUN
fbem-2780	109	4	of	of	ADP
fbem-2780	109	5	digital	digital	ADJ
fbem-2780	109	6	economy	economy	NOUN
fbem-2780	109	7	empowering	empower	VERB
fbem-2780	109	8	high	high	ADJ
fbem-2780	109	9	-	-	PUNCT
fbem-2780	109	10	quality	quality	NOUN
fbem-2780	109	11	agricultural	agricultural	ADJ
fbem-2780	109	12	development[j	development[j	PROPN
fbem-2780	109	13	/	/	SYM
fbem-2780	109	14	ol	ol	PROPN
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fbem-2780	109	16	.	.	PUNCT
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fbem-2780	110	2	circulation	circulation	PROPN
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fbem-2780	110	4	-	-	SYM
fbem-2780	110	5	12	12	NUM
fbem-2780	111	1	[	[	X
fbem-2780	111	2	202211	202211	NUM
fbem-2780	111	3	-	-	SYM
fbem-2780	111	4	10	10	NUM
fbem-2780	111	5	]	]	PUNCT
fbem-2780	111	6	.	.	PUNCT
fbem-2780	112	1	http://kns.cnki.net/kcms/detail/11.3664.f.20221028.1007.002	http://kns.cnki.net/kcms/detail/11.3664.f.20221028.1007.002	NOUN
fbem-2780	112	2	.	.	PUNCT
fbem-2780	113	1	html	html	NOUN
fbem-2780	114	1	[	[	X
fbem-2780	114	2	2	2	X
fbem-2780	114	3	]	]	X
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fbem-2780	114	5	y.	y.	PROPN
fbem-2780	114	6	legal	legal	ADJ
fbem-2780	114	7	problems	problem	NOUN
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fbem-2780	114	9	china	china	PROPN
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fbem-2780	114	12	emission	emission	NOUN
fbem-2780	114	13	trading	trading	NOUN
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fbem-2780	114	16	suggestions	suggestion	NOUN
fbem-2780	114	17	for	for	ADP
fbem-2780	114	18	improvement	improvement	NOUN
fbem-2780	114	19	[	[	X
fbem-2780	114	20	j	j	X
fbem-2780	114	21	]	]	X
fbem-2780	114	22	.	.	PUNCT
fbem-2780	115	1	western	western	ADJ
fbem-2780	115	2	journal	journal	PROPN
fbem-2780	115	3	,	,	PUNCT
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fbem-2780	115	5	-	-	SYM
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fbem-2780	115	7	.	.	PUNCT
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fbem-2780	116	4	/	/	SYM
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fbem-2780	116	6	/	/	SYM
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fbem-2780	116	10	.	.	PUNCT
fbem-2780	117	1	[	[	X
fbem-2780	117	2	3	3	NUM
fbem-2780	117	3	]	]	X
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fbem-2780	117	8	sun	sun	PROPN
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fbem-2780	118	4	emission	emission	NOUN
fbem-2780	118	5	reduction	reduction	NOUN
fbem-2780	118	6	,	,	PUNCT
fbem-2780	118	7	factor	factor	NOUN
fbem-2780	118	8	substitution	substitution	NOUN
fbem-2780	118	9	elasticity	elasticity	NOUN
fbem-2780	118	10	and	and	CCONJ
fbem-2780	118	11	carbon	carbon	NOUN
fbem-2780	118	12	emission	emission	NOUN
fbem-2780	118	13	rights	right	NOUN
fbem-2780	118	14	allocation	allocation	NOUN
fbem-2780	118	15	in	in	ADP
fbem-2780	118	16	china	china	PROPN
fbem-2780	118	17	under	under	ADP
fbem-2780	118	18	the	the	DET
fbem-2780	118	19	"	"	PUNCT
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fbem-2780	118	21	carbon	carbon	NOUN
fbem-2780	118	22	"	"	PUNCT
fbem-2780	118	23	target[j	target[j	NOUN
fbem-2780	118	24	]	]	PUNCT
fbem-2780	118	25	.	.	PUNCT
fbem-2780	119	1	financial	financial	ADJ
fbem-2780	119	2	science	science	NOUN
fbem-2780	119	3	,	,	PUNCT
fbem-2780	119	4	2022(10):107	2022(10):107	NUM
fbem-2780	119	5	-	-	SYM
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fbem-2780	119	7	.	.	PUNCT
fbem-2780	120	1	[	[	X
fbem-2780	120	2	4	4	NUM
fbem-2780	120	3	]	]	X
fbem-2780	120	4	guo	guo	PROPN
fbem-2780	120	5	nan	nan	PROPN
fbem-2780	120	6	.	.	PUNCT
fbem-2780	121	1	the	the	DET
fbem-2780	121	2	deconstruction	deconstruction	NOUN
fbem-2780	121	3	of	of	ADP
fbem-2780	121	4	carbon	carbon	NOUN
fbem-2780	121	5	emission	emission	NOUN
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fbem-2780	121	10	practice[j	practice[j	PROPN
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fbem-2780	121	12	ol	ol	PROPN
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fbem-2780	121	14	.	.	PUNCT
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fbem-2780	122	3	china	china	PROPN
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fbem-2780	122	7	(	(	PUNCT
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fbem-2780	122	9	science	science	NOUN
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fbem-2780	122	11	-	-	SYM
fbem-2780	122	12	10	10	NUM
fbem-2780	123	1	[	[	NOUN
fbem-2780	123	2	2022	2022	NUM
fbem-2780	123	3	-	-	SYM
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fbem-2780	123	5	/	/	SYM
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fbem-2780	123	7	-	-	PUNCT
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fbem-2780	123	9	/	/	SYM
fbem-2780	123	10	c.20221026.005	c.20221026.005	PROPN
fbem-2780	123	11	.	.	PUNCT
fbem-2780	124	1	[	[	X
fbem-2780	124	2	5	5	NUM
fbem-2780	124	3	]	]	PUNCT
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fbem-2780	124	5	hongyong	hongyong	PROPN
fbem-2780	124	6	,	,	PUNCT
fbem-2780	124	7	xu	xu	PROPN
fbem-2780	124	8	liuliu	liuliu	PROPN
fbem-2780	124	9	.	.	PUNCT
fbem-2780	125	1	asymmetric	asymmetric	ADJ
fbem-2780	125	2	multivariate	multivariate	NOUN
fbem-2780	125	3	fractal	fractal	ADJ
fbem-2780	125	4	statistical	statistical	ADJ
fbem-2780	125	5	analysis	analysis	NOUN
fbem-2780	125	6	of	of	ADP
fbem-2780	125	7	carbon	carbon	NOUN
fbem-2780	125	8	emission	emission	NOUN
fbem-2780	125	9	rights	right	NOUN
fbem-2780	125	10	markets	market	NOUN
fbem-2780	125	11	in	in	ADP
fbem-2780	125	12	china	china	PROPN
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fbem-2780	125	14	eu[j	eu[j	PROPN
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fbem-2780	125	16	.	.	PUNCT
fbem-2780	126	1	journal	journal	PROPN
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fbem-2780	126	4	university	university	PROPN
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fbem-2780	126	6	finance	finance	NOUN
fbem-2780	126	7	and	and	CCONJ
fbem-2780	126	8	economics,2022(05):1	economics,2022(05):1	NOUN
fbem-2780	126	9	-	-	PUNCT
fbem-2780	126	10	11	11	NUM
fbem-2780	126	11	.	.	PUNCT
fbem-2780	127	1	[	[	X
fbem-2780	127	2	6	6	NUM
fbem-2780	127	3	]	]	SYM
fbem-2780	127	4	li	li	PROPN
fbem-2780	127	5	jiangtao	jiangtao	PROPN
fbem-2780	127	6	,	,	PUNCT
fbem-2780	127	7	tao	tao	PROPN
fbem-2780	127	8	siyuan	siyuan	PROPN
fbem-2780	127	9	.	.	PUNCT
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fbem-2780	128	2	emission	emission	NOUN
fbem-2780	128	3	trading	trading	NOUN
fbem-2780	128	4	mechanism	mechanism	NOUN
fbem-2780	128	5	,	,	PUNCT
fbem-2780	128	6	media	media	NOUN
fbem-2780	128	7	pressure	pressure	NOUN
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fbem-2780	128	9	enterprises	enterprise	NOUN
fbem-2780	128	10	'	'	PART
fbem-2780	128	11	green	green	ADJ
fbem-2780	128	12	technology	technology	NOUN
fbem-2780	128	13	innovation	innovation	NOUN
fbem-2780	128	14	-	-	PUNCT
fbem-2780	128	15	a	a	DET
fbem-2780	128	16	study	study	NOUN
fbem-2780	128	17	based	base	VERB
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fbem-2780	128	19	the	the	DET
fbem-2780	128	20	carbon	carbon	NOUN
fbem-2780	128	21	trading	trading	NOUN
fbem-2780	128	22	market	market	NOUN
fbem-2780	128	23	in	in	ADP
fbem-2780	128	24	hubei	hubei	PROPN
fbem-2780	128	25	province[j	province[j	PROPN
fbem-2780	128	26	]	]	PUNCT
fbem-2780	128	27	.	.	PUNCT
fbem-2780	129	1	finance	finance	NOUN
fbem-2780	129	2	and	and	CCONJ
fbem-2780	129	3	accounting	account	VERB
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fbem-2780	129	7	-	-	NOUN
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fbem-2780	129	9	.	.	PUNCT
fbem-2780	130	1	[	[	X
fbem-2780	130	2	7	7	X
fbem-2780	130	3	]	]	X
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fbem-2780	130	5	man	man	NOUN
fbem-2780	130	6	.	.	PUNCT
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fbem-2780	131	2	risks	risk	NOUN
fbem-2780	131	3	of	of	ADP
fbem-2780	131	4	carbon	carbon	NOUN
fbem-2780	131	5	emission	emission	NOUN
fbem-2780	131	6	right	right	NOUN
fbem-2780	131	7	pledge	pledge	NOUN
fbem-2780	131	8	financing	financing	NOUN
fbem-2780	131	9	in	in	ADP
fbem-2780	131	10	the	the	DET
fbem-2780	131	11	context	context	NOUN
fbem-2780	131	12	of	of	ADP
fbem-2780	131	13	carbon	carbon	NOUN
fbem-2780	131	14	finance	finance	NOUN
fbem-2780	131	15	and	and	CCONJ
fbem-2780	131	16	its	its	PRON
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fbem-2780	131	18	]	]	PUNCT
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fbem-2780	132	1	financial	financial	ADJ
fbem-2780	132	2	theory	theory	NOUN
fbem-2780	132	3	and	and	CCONJ
fbem-2780	132	4	practice	practice	NOUN
fbem-2780	132	5	,	,	PUNCT
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fbem-2780	132	7	-	-	SYM
fbem-2780	132	8	44	44	NUM
fbem-2780	132	9	.	.	PUNCT
fbem-2780	133	1	[	[	X
fbem-2780	133	2	8	8	NUM
fbem-2780	133	3	]	]	X
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fbem-2780	133	5	peng	peng	PROPN
fbem-2780	133	6	.	.	PUNCT
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fbem-2780	134	2	carbon	carbon	NOUN
fbem-2780	134	3	emission	emission	NOUN
fbem-2780	134	4	rights	right	NOUN
fbem-2780	134	5	distribution	distribution	NOUN
fbem-2780	134	6	justice	justice	NOUN
fbem-2780	134	7	:	:	PUNCT
fbem-2780	134	8	an	an	DET
fbem-2780	134	9	institutional	institutional	ADJ
fbem-2780	134	10	design	design	NOUN
fbem-2780	134	11	for	for	ADP
fbem-2780	134	12	common	common	ADJ
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fbem-2780	135	1	[	[	X
fbem-2780	135	2	j	j	X
fbem-2780	135	3	/	/	SYM
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fbem-2780	135	5	]	]	PUNCT
fbem-2780	135	6	.	.	PUNCT
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fbem-2780	136	11	edition):1	edition):1	NOUN
fbem-2780	136	12	-	-	SYM
fbem-2780	136	13	9	9	NUM
fbem-2780	137	1	[	[	SYM
fbem-2780	137	2	2022	2022	NUM
fbem-2780	137	3	-	-	SYM
fbem-2780	137	4	11	11	NUM
fbem-2780	137	5	-	-	PUNCT
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fbem-2780	137	7	/	/	SYM
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fbem-2780	139	7	/	/	SYM
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fbem-2780	140	1	[	[	X
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fbem-2780	140	16	conception	conception	NOUN
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fbem-2780	140	19	pattern	pattern	NOUN
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fbem-2780	140	22	path	path	NOUN
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fbem-2780	140	24	deep	deep	ADJ
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fbem-2780	140	26	of	of	ADP
fbem-2780	140	27	digital	digital	ADJ
fbem-2780	140	28	economy	economy	NOUN
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fbem-2780	145	2	of	of	ADP
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fbem-2780	145	6	agricultural	agricultural	ADJ
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fbem-2780	145	8	rural	rural	ADJ
fbem-2780	145	9	economic	economic	ADJ
fbem-2780	145	10	development	development	NOUN
fbem-2780	145	11	in	in	ADP
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fbem-2780	146	1	[	[	X
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fbem-2780	147	2	agricultural	agricultural	PROPN
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fbem-2780	148	5	mata	mata	PROPN
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fbem-2780	152	7	agricultural	agricultural	ADJ
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fbem-2780	154	6	.	.	PUNCT
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fbem-2780	155	2	14	14	NUM
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fbem-2780	155	5	yufei	yufei	PROPN
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fbem-2780	155	7	kang	kang	PROPN
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fbem-2780	156	2	on	on	ADP
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fbem-2780	156	6	countermeasures	countermeasure	NOUN
fbem-2780	156	7	under	under	ADP
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fbem-2780	156	9	integration	integration	NOUN
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fbem-2780	156	12	digital	digital	ADJ
fbem-2780	156	13	economy	economy	NOUN
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fbem-2780	157	1	[	[	X
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