Research On The Financial Support For The Development Of Green Industry In Xinjiang Under Environmental Regulation

Environmental problems inevitably arise in the development of traditional industries.This problem is increasingly serious,which has aroused widespread concern of the government and the public.It also threatens the change of living conditions such as residents' trip.Therefore,the government has formulated environmental regulation policies to limit emissions of pollutants,guide enterprises to achieve energy saving and emission reduction,and promote green production.The development of green industry has increasingly become the focus of attention.As the center of the modern economy,finance should play a role in supporting the real economy and support the development of the green industry.So,can the development of Xinjiang green industry get sufficient financial support funds under environmental regulation? What are the problems of financial support? Does the intensity of environmental regulation affect the role of financial support? The present research results are rarely involved in this aspect.The article has combed the theoretical basis of the government's environmental regulation,the enterprise realizing green production,and the financial institutions serving the development of the green industry.Firstly,the mechanism of environmental regulation,financial support and the development of green industry are expounded in detail.It is considered that environmental regulation can promote the development of green industry by promoting technological innovation and changing investment structure.Financial support plays a role in green industry through capital support effect,resource allocation effect and enterprise supervision effect.Secondly,through the present situation,we find out the problems of financial support for the development of the green industry under the environmental regulation.It is found that the development of green industry in Xinjiang still has a long way to go,bank support needs to be improved,the construction of multi-level capital market needs to be further perfect,insurance mechanism system is imperfect.Thirdly,the impact of financial support on green industry under environmental regulation is discussed from two dimensions of the whole Xinjiang and sub region using the spatial econometric model.Combined with the threshold model,the influence of the change of environmental regulation on the development of the financial support green industry is analyzed.The empirical results show that:(1)under the environmental regulation,Xinjiang's financial support for the development of green industry has spatial effects,showing spatial dependence and spatial spillover among adjacent regions.(2)The extent of the impact of financial support on the north and the South shows a large gap in space.The main performance is that the impact coefficient of most variables in North Xinjiang financial support is more significant.(3)Environmental regulation has a positive effect on the development of financial support for the green industry in Xinjiang.The joint efforts of the financial institutions and the relevant government departments are more conducive to the development of the green industry;the impact of financial support on the development of green industry under the environmental regulation of different threshold values is different.The moderate intensity of environmental regulation is more conducive to financial support for the development of green industry.Finally,we learn the experience of financial support for the development ofgreen industry at home and abroad,draw the inspiration of financial support for the development of green industry in Xinjiang,and put forward the corresponding countermeasures and suggestions from two angles of environmental regulation and financial institutions.