| Green finance originates from environmental pollution caused by extensive economic development for a long time,and aims to coordinate the sustainable development of economic development and environmental protection.For more than40 years since the reform and opening up,China’s economy has developed rapidly,but with it,problems such as lack of resources and ecological environment have worsened.Therefore,in recent years,our government has attached great importance to how to develop a green economy and take a sustainable path.A series of powerful policies and measures have been adopted and significant results have been achieved.In the financial field,the development of green finance has also become an important direction for China’s green economic development and economic transformation and the only way to optimize the existing economic structure.At the same time,it has become a key direction and breakthrough for China’s financial industry reform and development.This article first analyzes the status quo of the development of green finance in China,and then describes the development mechanism of green finance in China.The green finance development mechanism in China is divided into two aspects: external impact mechanism and internal operation mechanism.The external impact mechanism is mainly developed from green finance.Analyze at the macro level.The internal operation mechanism is analyzed from the micro level of green finance development.By analyzing the macro and micro levels of the green finance development in China,and the external and internal mechanisms,it is concluded thatthe current green finance development mechanism in China has the following main problems: From the perspective of external influence mechanisms,China’s green finance development support is insufficient,green concepts have not yet been formed,green finance development momentum is insufficient,market participation is low,and talent team building is lacking.The lack of certification system,the lack of information disclosure system,the risk prevention mechanism has not been fully established,the lack of green financial products and services,and insufficient innovation.At the same time,by constructing a model,this paper first uses the entropy method and the DEA-Malmquist index to quantitatively measure the efficiency of green finance development in China by combining data from 30 provinces(cities)in China from 2008 to 2017,and then establishes a panel data model for in-depth analysis The economic,structural,and environmental effects of China’s green finance development.The empirical results show that: from the perspective of development level and development efficiency,China ’s green finance development shows large differences and regional development is not balanced;from the perspective of the economic effects of green finance development,the investment suppression effect of green finance development is greater than resource allocation Effect and the effect of technological progress,thus restraining economic growth to a certain extent;from the perspective of the structural effects of green finance development,green finance development can adjust China’s industrial structure,thereby promoting the development of China’s industrial structure to a higher and more rational direction;from From the perspective of the environmental effects of green finance development,green finance development can improve environmental quality,promote energy conservation and emission reduction,reduce energy consumption,and protect the environment.Finally,according to the main problems of China’s green financial development mechanism,combined with the current status and empirical conclusions of China’s green financial development,this paper proposes countermeasures and suggestions for the path innovation of China’s green financial development mechanism.The first is toimprove the green financial regulations and policies,implement unified green standards as soon as possible,and improve the incentive mechanism.The second is to further strengthen the construction of green financial market mechanisms and form a green ecological circle with institutional participation,social cooperation and a sound system.Third,accelerate the innovation of green financial products and services,and form green development of green financial products,services and technological innovation.Through the above measures,a new situation of green finance development with comprehensive development level and efficiency enhancement,full participation of participants and comprehensive fields has been formed. |
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