The efficiency of the bromination of toluene derivatives has been improved significantly by utilising a combination of hydrogen peroxide (30%) and hydrogen bromide (40%) in a continuous-flow micro reactor. This catalyst and solvent-free reaction takes place by visible-light photocatalysis.

As information flows at ever-increasing speeds across technological innovation networks, it is crucial to optimize reciprocity among partnering enterprises. However, the impact of psychological distance on subgroup reciprocity in such networks has not yet been investigated. To address this gap, the current study drew on theories of faultlines and cohesive subgroups to model the relationship between psychological distance and subgroup reciprocity within technological innovation networks. Our hypotheses were tested using data from 174 respondents working in Yunnan Province, China. The results were as follows: first, psychological distance had negative effects on subgroup reciprocity in technological innovation networks; second, relationship-divisive and innovation-divisive faultlines negatively impacted reciprocity within and between subgroups; third, the faultlines partially mediated the negative relationship between psychological distance and intra-subgroup reciprocity; and fourth, the negative relationship between psychological distance and subgroup reciprocity was not mediated by the faultlines. The findings uncover the psychological mechanism of subgroup reciprocity within technological innovation networks. They will inform the decision-making process of enterprises when selecting partners within their technological innovation networks and support the development of effective reciprocal relationships with other innovators.

To consider the jump problem of the Chinese stock market, this paper takes the CSI 300 Index from April 2005 to November 2015 as the research object, uses the rescaled range analysis (R/S analysis) method to examine the fractal characteristics of the Chinese stock market in the past ten years, and deduces the possibility of multiple bubbles in the Chinese stock market. Based on this, combined with the log-periodic power law (LPPL) model, the stock market bubbles are identified in different periods. The results show that China’s stock market has some anomalies in terms of positive bubbles, negative bubbles, and reverse bubbles, as well as the cross occurrence of reverse-negative bubbles. Besides, through a comparison with the major foreign stock markets, it is found that the fluctuation range of the Chinese stock market is much larger than that of the Dow Jones Industrial Average and the FTSE 100 indices in the same period and there are also more types of multibubbles, which is a connotative anomaly that makes the Chinese stock market different from other major stock markets. Furthermore, the bubble phenomenon in the Chinese stock market during the periods of 2005/4–2007/10 and 2015/6–2015/11 is studied, and it is found that there is a jump anomaly in the Chinese stock market. Finally, based on the above empirical analysis and the current state of the stock market, this paper provides some suggestions for improving the mechanism of the Chinese stock market.

With the intensification of COVID-19 epidemic, it becomes prominent to discuss the issue about the influence of psychological contract breach on job performance of new generation of employees. Based on social exchange theory, fairness theory, and conservation of resource theory, this study constructed a relationship model between psychological contract breach and job performance of new generation of employees with considering the mediating effect of job burnout and the moderating effect of past breach experience. Our hypotheses were tested using data from 235 respondents working in Yunnan Province, China. The results were as follows: first, psychological contract breach had a significant negative effect on job performance of new generation of employees, whether in the whole sample or in two grouped samples; second, both in the overall sample and the grouped sample of state-owned enterprises, job burnout partially mediated the negative relationship between psychological contract breach and job performance of new generation of employees, and past experience of breach positively moderated the negative relationship between psychological contract breach and job performance of new generation of employees; third, in the grouped sample of non-state-owned enterprises, job burnout did not play a significant mediating role in the relationship between psychological contract breach and job performance of new generation of employees, and past breach experience did not play a significant moderating role in this relationship. These findings uncover the psychological mechanism underlying work performance of new generation of employees, and also provide useful theoretical reference for management practices of new generation of employees among different natures of enterprises.

Under the background of "One Belt and One Road" and "the setting up of the investment bank", the new emerging business and trade in the southeast and south Asia area begin to explore its management and cooperation mode. This will largely promote the development of small and medium-size enterprises (SMEs) in these areas. On the basis of reviewing the existing researches, the author summarizes the main factors of the execution efficiency of SMEs supportive policy. Based on the hierarchical strategy, the author points out the promotion countermeasures for execution efficiency of SMEs supportive policy from the aspect of macro, medium and micro perspective for the government, financial credit institutions, and SMEs itself, which all contribute to SMEs' development smoothly and rapidly.