Table 5.
Province-level Distribution Effect through the Interacted Markets.
| Provinces | Money from ETS | Money into ETS | Money from RPS | Money into RPS | Total surplus |
|---|---|---|---|---|---|
| Yunnan | 2.4 | 0.5 | 54.6 | 0.0 | 56.4 |
| Sichuan | 0.0 | 0.9 | 52.5 | 6.4 | 45.2 |
| Fujian | 15.7 | 3.3 | 14.9 | 5.1 | 22.1 |
| Qinghai | 3.2 | 0.3 | 14.5 | 0.0 | 17.4 |
| Gansu | 5.1 | 1.5 | 11.1 | 0.0 | 14.7 |
| Hubei | 0.0 | 2.8 | 18.8 | 5.8 | 10.2 |
| Xinjiang | 6.9 | 1.2 | 6.3 | 3.0 | 9.1 |
| Liaoning | 8.9 | 1.8 | 8.1 | 7.0 | 8.3 |
| Guangxi | 1.9 | 1.5 | 5.9 | 0.0 | 6.3 |
| Ningxia | 4.3 | 3.0 | 4.1 | 0.8 | 4.5 |
| Inner Mongolia | 10.0 | 10.5 | 9.1 | 4.5 | 4.2 |
| Hainan | 2.6 | 0.3 | 2.4 | 1.4 | 3.3 |
| Guangdong | 21.3 | 8.1 | 20.2 | 30.4 | 2.9 |
| Jilin | 1.5 | 0.6 | 1.3 | 0.0 | 2.2 |
| Tibet | 0.4 | 0.0 | 1.8 | 0.0 | 2.2 |
| Guizhou | 0.0 | 3.4 | 7.2 | 2.8 | 1.0 |
| Heilongjiang | 1.2 | 0.8 | 0.7 | 0.9 | 0.2 |
| Zhejiang | 8.9 | 5.8 | 8.2 | 17.1 | -5.7 |
| Hunan | 0.0 | 2.0 | 3.5 | 7.2 | -5.7 |
| Shanxi | 1.1 | 5.0 | 0.6 | 2.8 | -6.1 |
| Chongqing | 0.0 | 1.3 | 0.0 | 6.0 | -7.3 |
| Shaanxi | 0.0 | 3.6 | 0.0 | 4.3 | -7.9 |
| Tianjin | 0.0 | 1.1 | 0.0 | 7.2 | -8.4 |
| Jiangxi | 0.0 | 2.5 | 0.0 | 7.8 | -10.2 |
| Beijing | 0.0 | 0.9 | 0.0 | 10.9 | -11.8 |
| Hebei | 0.3 | 4.0 | 0.0 | 11.3 | -15.0 |
| Shanghai | 0.0 | 2.2 | 0.0 | 14.2 | -16.4 |
| Anhui | 0.1 | 5.3 | 0.0 | 13.8 | -19.0 |
| Henan | 0.1 | 5.6 | 0.0 | 20.9 | -26.3 |
| Jiangsu | 0.2 | 9.9 | 0.0 | 24.4 | -34.1 |
| Shandong | 0.1 | 6.6 | 0.0 | 29.8 | -36.3 |
| Total | 96.3 | 96.3 | 245.5 | 245.5 | 0.0 |