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The purpose of this paper is to test whether the policies of China’s financial restraint have an inhibitory effect on the consumption of residents.

This study used the principal component analysis for constructing a financial restraint index and also used empirical methodology.

The authors found that financial restraint policies create rent opportunities for banking sector and production sector, which further creates the rent opportunities for the household sector. Such transfer of rent and redistribution will have an inhibitory effect on residents’ consumption. The financial restraint policies directly and indirectly inhibit the growth of residents’ income; and in theory, the purpose of financial restraint policy is to promote economic growth, thus promoting residents’ consumption. Thus, the financial restraint policies impacting the residents’ consumption are non-linear and test the threshold effect of financial restraints on the residents’ consumption of China.

This paper’s theoretical contribution includes: increasing the connotation of financial restraint in the policies of stock market and foreign exchange controls, and further developing the financial restraint theory; and exploring the inhibitory effect on the consumption of residents from the perspective of financial restraints to enrich the connotation of the consumption theory.

The findings in this study can help the financial authorities to gradually relax the financial restraint policies to encourage residents’ consumption.

The purpose of this paper is to investigate the tribological properties, antiwear mechanism and anticorrosion properties of two novel halogen-free borate ionic liquids (ILs) in 500 N base oil.

Different qualities of borate ILs were added to 500 N, and their tribological properties were tested on a four-ball machine. The tribological properties of the additives were evaluated by measuring the wear scar diameter (WSD) and average coefficient of friction. The antiwear and antifriction mechanism of ILs was analyzed by energy dispersive spectroscopy (EDS) and X-ray photoelectron spectroscopy (XPS).

The corrosion degrees of the two borate ILs 1-butyl-3-octyl-imidazole bis(mandelato)-borate ([OBIM][BMB]) and 1-butyl-3-(3-methoxypropyl)-imidazole bis(mandelato)-borate ([MPBIM][BMB]) are 1b and 1a, respectively, suggesting that they both possess significant corrosion resistance and can effectively protect the steel surface. When the concentration of [OBIM][BMB] and [MPBIM][BMB] is 2.5 Wt.%, the friction coefficient of 500 N is reduced by 37.3% and 26.2%, respectively. According to the analysis of the thermo gravimetric analyzer curves, [OBIM][BMB] and [MPBIM][BMB] decomposed at 369.7°C and 374.3°C, respectively, indicate that two additives both can be applied in higher temperature condition. The results of XPS and scanning electron microscope (SEM) reveal that [OBIM][BMB] and [MPBIM][BMB] both can react with the steel surface, thereby forming chemical films composed of iron oxide, B₂O₃ and organic N-containing compounds.

Two new environmentally friendly borate ILs were synthesized and their tribological properties in 500 N base oil were investigated for the first time.