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This paper examines the three-year long run performance of Initial Public Offerings (IPOs) in the Chinese stock markets from 2002 to 2012. We find that private firm IPO long-term returns are significantly higher than those of non-private firms, measured by both cumulative abnormal returns (CARs) and buy-and-hold abnormal returns (BHARs). Furthermore, the long-term performance of IPOs in the Chinese stock markets seems to have a significant upward tendency after the Non-tradable share (NTS) reform launched in 2005. However, private firm IPO long-run outperformance has experienced a diminishing increase after the NTS reform. This result indicates that state-owned enterprises turn to be more market-oriented after the NTS reform.

Ecological landscape planning and design is the design of the overall environment under the original overall planning pattern. It is the result of numerous planning and design theories and multidisciplinary integration. The ecological landscape planning and design of the logistics park enables to enhance the overall image. A good ecological planning of the logistics park will be conducive to the creation and promotion of the logistics park brand. This research, a case study of the landscape of the Huangshi Xingang Port, with field research method and comparative analysis method applied, exploring the ecological landscape design ideas and concepts of environmental planning outside the logistics park, and seeking new methods and models for ecological landscape planning and design of logistics parks, aims at improving the external environment planning and design of logistics parks, solving the problems arising in the planning and construction of logistics parks, and realizing the sustainable development of logistics park planning and construction.

Conventional polymeric membranes are broadly employed in water treatment processes; however, most of them suffer from relatively low water permeance and severe membrane fouling phenomena owing to their relatively hydrophobic nature. In this work, a novel class of inorganic–organic composite membranes was developed through a newly developed vapor-ventilated in situ chemical deposition method, where the Ti and Si precursors were first hydrolyzed and then conferred into metal oxides to form a continuous TiO2–SiO2 modification layer. Owing to the distinct physicochemical properties, the Ti and Si precursors were leveraged as quasi-molecular regulators to tune the membrane surface chemistry and pore aperture (within the nanoscale) to benefit highly efficient water purification by underpinning the rapid transport of water molecules and featuring an excellent fouling-resistant and fouling-releasing property against typical pollutants. The as-developed TiO2–SiO2/PES composite membrane showed a high water permeance of 187.4 L·m–2·h–1·bar–1, together with a relatively small mean pore aperture of 4.2 nm, showing an outstanding permeating efficiency among state-of-the-art membranes with a similar separation accuracy. This study provides a paradigm shift in membrane materials that could open avenues for developing high-performance inorganic–organic composite membranes for complex wastewater treatment.