{"status":"ok","message-type":"work","message-version":"1.0.0","message":{"indexed":{"date-parts":[[2026,1,18]],"date-time":"2026-01-18T15:14:08Z","timestamp":1768749248305,"version":"3.49.0"},"reference-count":58,"publisher":"MDPI AG","issue":"2","license":[{"start":{"date-parts":[[2025,2,19]],"date-time":"2025-02-19T00:00:00Z","timestamp":1739923200000},"content-version":"vor","delay-in-days":0,"URL":"https:\/\/creativecommons.org\/licenses\/by\/4.0\/"}],"funder":[{"name":"National Natural Science Foundation of China","award":["42271303"],"award-info":[{"award-number":["42271303"]}]}],"content-domain":{"domain":[],"crossmark-restriction":false},"short-container-title":["Systems"],"abstract":"<jats:p>In China, the current policy of the financial sector on water conservation and management is being vigorously pursued; therefore, efficient synergy between the two systems is of great significance. In this study, the coupling and coordination degree (CCD) between reclaimed water usage efficiency (RWUE) and high-quality development of the financial sector (HQDFS) was assessed using a coupling coordination model with panel data from 27 provinces in China during 2010\u20132021, and a more in-depth coupling and coordination relationship (CCR) was carried out using a spatiotemporal evolution methodology and PVAR model. The results of this study show the following: (1) CCD exhibits a continuous upward trajectory. At the end of the study period, the eastern, central, western, and northeastern regions moved to the primary coordination level. (2) The eastern and northeastern regions show an increasing trend in absolute differences and polarization. Meanwhile, the central region experiences a gradual rise in polarization. (3) The elliptical plot of the CCD\u2019s standard deviation tends toward a circular shape with a positive aspect ratio. An expanding trend of absolute differences and polarization is observed in the eastern and northeastern regions. (4) The PVAR results show that the two systems can promote each other in the early stages and have a negative impact in the later stages. This study provides policy recommendations for a balanced development of the two systems and the formulation of regional development strategies based on the state of coupling and coordination between the two.<\/jats:p>","DOI":"10.3390\/systems13020137","type":"journal-article","created":{"date-parts":[[2025,2,19]],"date-time":"2025-02-19T09:36:22Z","timestamp":1739957782000},"page":"137","update-policy":"https:\/\/doi.org\/10.3390\/mdpi_crossmark_policy","source":"Crossref","is-referenced-by-count":1,"title":["Spatial\u2013Temporal Coupling and Interactive Effects of Reclaimed Water Usage Efficiency and High-Quality Development of the Financial Sector"],"prefix":"10.3390","volume":"13","author":[{"given":"Ying","family":"Zhou","sequence":"first","affiliation":[{"name":"Business School, Hohai University, Nanjing 211100, China"}],"role":[{"role":"author","vocabulary":"crossref"}]},{"given":"Fengping","family":"Wu","sequence":"additional","affiliation":[{"name":"Business School, Hohai University, Nanjing 211100, China"}],"role":[{"role":"author","vocabulary":"crossref"}]},{"given":"Gen","family":"Li","sequence":"additional","affiliation":[{"name":"School of Economics and Management, Jiangsu University of Science and Technology, Zhenjiang 212000, China"}],"role":[{"role":"author","vocabulary":"crossref"}]},{"given":"Chen","family":"Feng","sequence":"additional","affiliation":[{"name":"Business School, Hohai University, Nanjing 211100, China"}],"role":[{"role":"author","vocabulary":"crossref"}]}],"member":"1968","published-online":{"date-parts":[[2025,2,19]]},"reference":[{"key":"ref_1","doi-asserted-by":"crossref","first-page":"467","DOI":"10.1016\/j.watres.2015.08.048","article-title":"Wastewater compounds in urban shallow groundwater wells correspond to exfiltration probabilities of nearby sewers","volume":"85","author":"Lee","year":"2015","journal-title":"Water Res."},{"key":"ref_2","doi-asserted-by":"crossref","first-page":"110518","DOI":"10.1016\/j.ecolind.2023.110518","article-title":"Spatial-temporal impacts of landscape metrics and uses of land reclamation on coastal water conditions: The case of Macao","volume":"154","author":"Zhou","year":"2023","journal-title":"Ecol. Indic."},{"key":"ref_3","doi-asserted-by":"crossref","first-page":"16","DOI":"10.1186\/s42834-023-00177-8","article-title":"Reclaimed water in Taiwan: Current status and future prospects","volume":"33","author":"Cheng","year":"2023","journal-title":"Sustain. Environ. Res."},{"key":"ref_4","doi-asserted-by":"crossref","first-page":"101971","DOI":"10.1016\/j.pacfin.2023.101971","article-title":"Spillover effects between internet financial industry and traditional financial industry: Evidence from the Chinese stock market","volume":"79","author":"Zheng","year":"2023","journal-title":"Pac.-Basin Financ. J."},{"key":"ref_5","doi-asserted-by":"crossref","first-page":"100130","DOI":"10.1016\/j.ese.2021.100130","article-title":"Towards carbon neutrality and China\u2019s 14th Five-Year Plan: Clean energy transition, sustainable urban development, and investment priorities","volume":"8","author":"Hepburn","year":"2021","journal-title":"Environ. Sci. Ecotechnol."},{"key":"ref_6","doi-asserted-by":"crossref","first-page":"2159","DOI":"10.1002\/bse.3584","article-title":"Toward low-carbon sustainable development: Exploring the impact of digital economy development and industrial restructuring","volume":"33","author":"Tan","year":"2024","journal-title":"Bus. Strategy Environ."},{"key":"ref_7","doi-asserted-by":"crossref","first-page":"165","DOI":"10.1016\/j.jes.2019.08.014","article-title":"Bioassay: A useful tool for evaluating reclaimed water safety","volume":"88","author":"Xu","year":"2020","journal-title":"J. Environ. Sci."},{"key":"ref_8","doi-asserted-by":"crossref","first-page":"107781","DOI":"10.1016\/j.resconrec.2024.107781","article-title":"Toward a circular supply chain: The enabling role of information and financial flows in open and closed loop designs","volume":"209","author":"Bals","year":"2024","journal-title":"Resour. Conserv. Recycl."},{"key":"ref_9","doi-asserted-by":"crossref","first-page":"289","DOI":"10.1108\/JFRA-05-2023-0224","article-title":"Does FinTech adoption increase the diffusion rate of digital financial inclusion? A study of the banking industry sector","volume":"22","author":"Aloulou","year":"2024","journal-title":"J. Financ. Rep. Account."},{"key":"ref_10","first-page":"63","article-title":"Research on the measurement of the level of high-quality development of China\u2019s financial sector and the characteristics of spatial and temporal distribution","volume":"37","author":"Gao","year":"2020","journal-title":"Res. Quant. Econ. Tech. Econ."},{"key":"ref_11","doi-asserted-by":"crossref","first-page":"1","DOI":"10.1016\/j.strueco.2023.09.013","article-title":"Resource industry dependence and high-quality economic development of Chinese style: Reexamining the effect of the \u201cResource Curse\u201d","volume":"68","author":"Gao","year":"2024","journal-title":"Struct. Change Econ. Dyn."},{"key":"ref_12","doi-asserted-by":"crossref","first-page":"142388","DOI":"10.1016\/j.jclepro.2024.142388","article-title":"Renewable Energy Supplying Strategy for a Greenhouse Based on the Water-Energy-Economy Nexus","volume":"457","author":"Hosseini","year":"2024","journal-title":"J. Clean. Prod."},{"key":"ref_13","doi-asserted-by":"crossref","first-page":"e2020WR028853","DOI":"10.1029\/2020WR028853","article-title":"Water use in the landscape: A comparison of water quality and irrigation technologies on behavior","volume":"57","author":"Lee","year":"2021","journal-title":"Water Resour. Res."},{"key":"ref_14","doi-asserted-by":"crossref","first-page":"100188","DOI":"10.1016\/j.wri.2022.100188","article-title":"Municipal reclaimed water as makeup water for cooling systems: Water efficiency, biohazards, and reliability","volume":"28","author":"Badruzzaman","year":"2022","journal-title":"Water Resour. Ind."},{"key":"ref_15","doi-asserted-by":"crossref","first-page":"254","DOI":"10.1007\/s10644-024-09839-y","article-title":"Globalization, credit information sharing and financial stability in developing countries","volume":"57","author":"Nguyen","year":"2024","journal-title":"Econ. Change Restruct."},{"key":"ref_16","doi-asserted-by":"crossref","first-page":"114632","DOI":"10.1016\/j.chaos.2024.114632","article-title":"Double well stochastic resonance for a class of three-dimensional financial systems","volume":"181","author":"Wu","year":"2024","journal-title":"Chaos Solitons Fractals"},{"key":"ref_17","first-page":"14","article-title":"Green development: Function definition, mechanism analysis and development strategy","volume":"24","author":"Hu","year":"2014","journal-title":"China Popul.-Resour. Environ."},{"key":"ref_18","doi-asserted-by":"crossref","first-page":"135131","DOI":"10.1016\/j.jclepro.2022.135131","article-title":"Green technological innovation, green finance, and financial development and their role in green total factor productivity: Empirical insights from China","volume":"382","author":"Jiakui","year":"2023","journal-title":"J. Clean. Prod."},{"key":"ref_19","doi-asserted-by":"crossref","first-page":"611","DOI":"10.1016\/j.jclepro.2018.02.259","article-title":"Water resources utilization efficiency and influence factors under environmental restrictions","volume":"184","author":"Song","year":"2018","journal-title":"J. Clean. Prod."},{"key":"ref_20","doi-asserted-by":"crossref","first-page":"127371","DOI":"10.1016\/j.jclepro.2021.127371","article-title":"Water resources efficiency assessment in crop production from the perspective of water footprint","volume":"309","author":"Cao","year":"2021","journal-title":"J. Clean. Prod."},{"key":"ref_21","doi-asserted-by":"crossref","first-page":"1703","DOI":"10.1002\/mde.3338","article-title":"Recycling water and sludge disposal efficiency in China\u2019s sewage treatment industry","volume":"42","author":"Li","year":"2021","journal-title":"Manag. Decis. Econ."},{"key":"ref_22","doi-asserted-by":"crossref","first-page":"101602","DOI":"10.1016\/j.ejrh.2023.101602","article-title":"A coupled modeling framework to screen reclaimed water supplement schemes in an urban watershed","volume":"50","author":"Chen","year":"2023","journal-title":"J. Hydrol. Reg. Stud."},{"key":"ref_23","doi-asserted-by":"crossref","first-page":"110878","DOI":"10.1016\/j.jenvman.2020.110878","article-title":"Analysis of the potential of reclaimed water utilization in typical inland cities in northwest China via system dynamics","volume":"270","author":"Li","year":"2020","journal-title":"J. Environ. Manag."},{"key":"ref_24","doi-asserted-by":"crossref","first-page":"102451","DOI":"10.1016\/j.resourpol.2021.102451","article-title":"The impact of environmental pollution and green finance on the high-quality development of energy based on spatial Dubin model","volume":"74","author":"Wang","year":"2021","journal-title":"Resour. Policy"},{"key":"ref_25","doi-asserted-by":"crossref","first-page":"102445","DOI":"10.1016\/j.resourpol.2021.102445","article-title":"Nexus between green finance, fintech, and high-quality economic development: Empirical evidence from China","volume":"74","author":"Yang","year":"2021","journal-title":"Resour. Policy"},{"key":"ref_26","doi-asserted-by":"crossref","first-page":"136655","DOI":"10.1016\/j.jclepro.2023.136655","article-title":"Evaluating disparities and convergence of financial support efficiency for resource recycling in-dustry in China","volume":"398","author":"Zhang","year":"2023","journal-title":"J. Clean. Prod."},{"key":"ref_27","doi-asserted-by":"crossref","first-page":"1650","DOI":"10.1080\/13547860.2022.2120265","article-title":"How does industrial convergence affect regional high-quality development? Evidence from China","volume":"29","author":"Dong","year":"2024","journal-title":"J. Asia Pac. Econ."},{"key":"ref_28","first-page":"169","article-title":"Current Analysis and Current Issues of Ensuring the Financial Stability of the Banking System in Uzbekistan","volume":"4","author":"Kubayevich","year":"2024","journal-title":"Eur. J. Bus. Startups Open Soc."},{"key":"ref_29","doi-asserted-by":"crossref","first-page":"679","DOI":"10.1108\/IJOEM-09-2021-1389","article-title":"Does digital financial innovation enhance financial deepening and growth in Kenya?","volume":"19","author":"Misati","year":"2024","journal-title":"Int. J. Emerg. Mark."},{"key":"ref_30","doi-asserted-by":"crossref","first-page":"120392","DOI":"10.1016\/j.ins.2024.120392","article-title":"MRI-CE: Minimal rare itemset discovery using the cross-entropy method","volume":"665","author":"Song","year":"2024","journal-title":"Inf. Sci."},{"key":"ref_31","doi-asserted-by":"crossref","first-page":"102760","DOI":"10.1016\/j.rcim.2024.102760","article-title":"A dual-robot cooperative arc welding path planning algorithm based on multi-objective cross-entropy optimization","volume":"89","author":"Tang","year":"2024","journal-title":"Robot. Comput.-Integr. Manuf."},{"key":"ref_32","doi-asserted-by":"crossref","first-page":"120019","DOI":"10.1016\/j.renene.2024.120019","article-title":"Editorial special issue: Novel longitudinal data research methods in renewable energy use and management","volume":"223","author":"Tiwari","year":"2024","journal-title":"Renew. Energy"},{"key":"ref_33","doi-asserted-by":"crossref","first-page":"111167","DOI":"10.1016\/j.ymssp.2024.111167","article-title":"A novel hybrid method for the stationary non-Gaussian wind pressures simulation based on maximum entropy method and moment-based translation function","volume":"210","author":"Wu","year":"2024","journal-title":"Mech. Syst. Signal Process."},{"key":"ref_34","doi-asserted-by":"crossref","first-page":"126803","DOI":"10.1016\/j.jclepro.2021.126803","article-title":"Coupling coordination degree of production, living and ecological spaces and its influencing factors in the Yellow River Basin","volume":"298","author":"Li","year":"2021","journal-title":"J. Clean. Prod."},{"key":"ref_35","doi-asserted-by":"crossref","first-page":"102992","DOI":"10.1016\/j.scs.2021.102992","article-title":"Evaluation of coupling coordination degree and convergence behaviour of local development: A spatio-temporal analysis of all Polish municipalities over the period 2003\u20132019","volume":"71","author":"Tomal","year":"2021","journal-title":"Sustain. Cities Soc."},{"key":"ref_36","doi-asserted-by":"crossref","first-page":"124633","DOI":"10.1016\/j.jclepro.2020.124633","article-title":"Research on the coupling coordination degree of \u201cupstream-midstream-downstream\u201d of China\u2019s wind power industry chain","volume":"283","author":"Dong","year":"2021","journal-title":"J. Clean. Prod."},{"key":"ref_37","doi-asserted-by":"crossref","first-page":"105793","DOI":"10.1016\/j.ocecoaman.2021.105793","article-title":"Spatio temporal coupling coordination measurement on islands\u2019 economy-environment-tourism system","volume":"212","author":"Fei","year":"2021","journal-title":"Ocean. Coast. Manag."},{"key":"ref_38","doi-asserted-by":"crossref","first-page":"148311","DOI":"10.1016\/j.scitotenv.2021.148311","article-title":"Coupling coordination analysis and spatiotemporal heterogeneity between urbanization and ecosystem health in Chongqing municipality, China","volume":"791","author":"Li","year":"2021","journal-title":"Sci. Total Environ."},{"key":"ref_39","doi-asserted-by":"crossref","first-page":"3275","DOI":"10.1080\/1540496X.2018.1559139","article-title":"Foreign direct investment, institutional quality, and financial development along the belt and road: An empirical investigation","volume":"55","author":"Aibai","year":"2019","journal-title":"Emerg. Mark. Financ. Trade"},{"key":"ref_40","doi-asserted-by":"crossref","first-page":"89340","DOI":"10.1007\/s11356-022-21948-7","article-title":"Financial sector development and natural resource rents: The role of institutions in Sub-Saharan Africa","volume":"29","author":"Sandow","year":"2022","journal-title":"Environ. Sci. Pollut. Res."},{"key":"ref_41","doi-asserted-by":"crossref","unstructured":"Chen, L., and Qi, B. (2024). The \u201cSupply-Side Reform Policy\u201d and the Share of Labor Income in Enterprises. Sustainability, 16.","DOI":"10.3390\/su16125231"},{"key":"ref_42","doi-asserted-by":"crossref","unstructured":"Luo, H., and Qu, X. (2023). Export trade, absorptive capacity, and high-quality economic development in China. Systems, 11.","DOI":"10.3390\/systems11020054"},{"key":"ref_43","doi-asserted-by":"crossref","first-page":"32","DOI":"10.1186\/s13705-023-00410-7","article-title":"Sustainable development economy and the development of green economy in the European Union","volume":"13","author":"Mentes","year":"2023","journal-title":"Energy Sustain. Soc."},{"key":"ref_44","doi-asserted-by":"crossref","first-page":"8556","DOI":"10.1287\/mnsc.2022.00953","article-title":"The real effects of shadow banking: Evidence from China","volume":"70","author":"Tian","year":"2024","journal-title":"Manag. Sci."},{"key":"ref_45","doi-asserted-by":"crossref","first-page":"105337","DOI":"10.1016\/j.scs.2024.105337","article-title":"Evaluating the synergistic effects of digital economy and government governance on urban low-carbon transition","volume":"105","author":"Liu","year":"2024","journal-title":"Sustain. Cities Soc."},{"key":"ref_46","doi-asserted-by":"crossref","unstructured":"Alamsyah, A., Kusuma, G.N.W., and Ramadhani, D.P. (2024). A Review on Decentralized Finance Ecosystems. Future Internet, 16.","DOI":"10.3390\/fi16030076"},{"key":"ref_47","first-page":"15","article-title":"Connotation and evaluation of high-quality development of finance in the context of the new era\u2014An empirical study based on inter-provincial panel data","volume":"1","author":"Li","year":"2019","journal-title":"Res. Financ. Regul."},{"key":"ref_48","doi-asserted-by":"crossref","first-page":"1417","DOI":"10.1007\/s10618-024-01003-4","article-title":"Central node identification via weighted kernel density estimation","volume":"38","author":"Liu","year":"2024","journal-title":"Data Min. Knowl. Discov."},{"key":"ref_49","doi-asserted-by":"crossref","first-page":"105336","DOI":"10.1016\/j.jeconom.2022.06.011","article-title":"Kernel density estimation for undirected dyadic data","volume":"240","author":"Graham","year":"2024","journal-title":"J. Econom."},{"key":"ref_50","doi-asserted-by":"crossref","first-page":"123811","DOI":"10.1016\/j.jenvman.2024.123811","article-title":"Spatial and temporal evolution patterns and spatial spillover effects of carbon emissions in China in the context of digital economy","volume":"373","author":"Wang","year":"2025","journal-title":"J. Environ. Manag."},{"key":"ref_51","doi-asserted-by":"crossref","first-page":"88","DOI":"10.1086\/214027","article-title":"Measuring geographic concentration by means of the standard deviational ellipse","volume":"32","author":"Lefever","year":"1926","journal-title":"Am. J. Sociol."},{"key":"ref_52","doi-asserted-by":"crossref","first-page":"118870","DOI":"10.1016\/j.jenvman.2023.118870","article-title":"Exploring the spatiotemporal pattern evolution of carbon emissions and air pollution in Chinese cities","volume":"345","author":"Duman","year":"2023","journal-title":"J. Environ. Manag."},{"key":"ref_53","doi-asserted-by":"crossref","first-page":"138","DOI":"10.1016\/j.tranpol.2018.03.007","article-title":"Industry in Hong Kong and the underlying policies","volume":"82","author":"Yang","year":"2019","journal-title":"Transp. Policy"},{"key":"ref_54","doi-asserted-by":"crossref","first-page":"1267","DOI":"10.1007\/s00181-017-1245-2","article-title":"Intraday price information flows between the CSI300 and futures market: An application of wavelet analysis","volume":"54","author":"Xu","year":"2018","journal-title":"Empir. Econ."},{"key":"ref_55","doi-asserted-by":"crossref","first-page":"663","DOI":"10.1093\/erae\/jby036","article-title":"Contemporaneous and Granger causality among US corn cash and futures prices","volume":"46","author":"Xu","year":"2019","journal-title":"Eur. Rev. Agric. Econ."},{"key":"ref_56","doi-asserted-by":"crossref","first-page":"1297","DOI":"10.1002\/ajae.12041","article-title":"Corn cash price forecasting","volume":"102","author":"Xu","year":"2020","journal-title":"Am. J. Agric. Econ."},{"key":"ref_57","doi-asserted-by":"crossref","unstructured":"Gao, C., Cao, M., Wen, Y., and Li, C. (2023). Coupling and interaction between science and technology finance and green development: Based on coupling coordination degree model and panel vector autoregression model. Front. Environ. Sci., 11.","DOI":"10.3389\/fenvs.2023.1090998"},{"key":"ref_58","doi-asserted-by":"crossref","first-page":"55","DOI":"10.1007\/s12076-012-0086-z","article-title":"A spatial decomposition of the Gini coefficient","volume":"6","author":"Rey","year":"2013","journal-title":"Lett. Spat. Resour. Sci."}],"container-title":["Systems"],"original-title":[],"language":"en","link":[{"URL":"https:\/\/www.mdpi.com\/2079-8954\/13\/2\/137\/pdf","content-type":"unspecified","content-version":"vor","intended-application":"similarity-checking"}],"deposited":{"date-parts":[[2025,10,9]],"date-time":"2025-10-09T16:38:07Z","timestamp":1760027887000},"score":1,"resource":{"primary":{"URL":"https:\/\/www.mdpi.com\/2079-8954\/13\/2\/137"}},"subtitle":[],"short-title":[],"issued":{"date-parts":[[2025,2,19]]},"references-count":58,"journal-issue":{"issue":"2","published-online":{"date-parts":[[2025,2]]}},"alternative-id":["systems13020137"],"URL":"https:\/\/doi.org\/10.3390\/systems13020137","relation":{},"ISSN":["2079-8954"],"issn-type":[{"value":"2079-8954","type":"electronic"}],"subject":[],"published":{"date-parts":[[2025,2,19]]}}}