Enhancing the attractiveness of public transport is a key objective for transit agencies that seek to achieve sustainable urban mobility. This study identifies the key factors that affect the attractiveness of public transport from the macroscopic and microscopic perspectives and establishes a comprehensive influence mechanism. Weighted least square-Structural equation model (WLS-SEM) is used to quantify the microscopic factors. Conclusions are summarized as follows: ① the macroscopic factors include urban spatial layout, land use pattern, geographical environment, level of economic development, demographic characteristics, public policy, and service characteristics of public transport; ② the microscopic factors include traveler’s individual characteristics, travel demand characteristics, travel characteristics and service level of public transport; ③ service level of public transport most positively impacts the attractiveness, while the travel characteristics of public transport impact it most negatively.

Whether capital market opening improves the price discovery efficiency of stock market is an important issue. Shanghai-Hong Kong Stock Connect (hereafter, SHKSC) is a milestone event in the opening up of China’s capital market. Based on SHKSC, using the method of PSM + DID, we study the impact of capital market opening on the price discovery efficiency from two dimensions-stock price information content and price reaction speed to information. Our research shows that capital market opening did not increase stock price information content, but speed up the reaction of price to information. Therefore, capital market opening improves capital market’s price discovery efficiency in terms of response speed of stock price to information. Further analysis shows that capital market opening affects stock price reaction speed through improving market information environment and reducing insider trading, but it has not yet had a substantial impact on listed companies’ earnings quality, which is the main participant in the capital market, and therefore has failed to influence the stock price information content. In order to maximize the effectiveness of capital market opening, it is necessary to introduce more effective policies to improve the information disclosure quality of listed firms and reduce the level of insider trading.