We have examined the covariance nexus between temperature, COVID-19 and exchange rate in Wuhan City, China. • Novel methods of Wavelet Transform Coherence, Partial and Multiple Wavelet Coherence are employed for analysis. • Temperature played no role in the containment of COVID-19 in Wuhan. • COVID-19 outbreak in Wuhan had a negative but limited impact on RMB exchange rate against USD during our observation period.

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Capital enrichment (CE) results from capital flows, which reflect the capital distribution among different regions and industries. This paper constructs the evaluation model of resource allocation efficiency from the perspective of capital and innovation resources. It expounds on CE’s theoretical mechanism by using the panel data from 2011 to 2018 for system GMM estimation. It finds that the manufacturing capital allocation efficiency (CAE) and innovation resource allocation efficiency (IRAE) show a volatile development trend. Both static and dynamic panel models show that there is a significant U-shaped curvilinear relationship between CE and CAE, CE and IRAE. CE’s inhibitory effect on CAE and IRAE decreases with the improvement of CE until it exceeds the critical value of 8.27 and 8.93. After that, its impact on CAE and IRAE changes from negative to positive.