Research On The Influence Of Green Credit On The Optimization Of Industrial Structure

Since the Reforming and Opening,Chinese industrial structure has always had problems such as the proportion of industry is too high,overcapacity and slow internal upgrading of the industrial structure,which have brought huge impacts and challenges to the ecological environment and the using of resource.To achieve the goal,building of a beautiful China with fundamental improvement in the ecological environment,it is extremely necessary to guide the industrial structural upgrade with the concept of green development and promote the harmonious development of man and nature.As the core of the modern economy,finance is playing the role of guiding the bank’s green credit funds,optimizing resource allocation and accelerating the green transformation of the industrial structure,which has important theoretical value and practical significance.Green credit has the financial attributes of "credit" and the policy attributes of "green".Fundamentally,it means handle the relationship between the financial industry and sustainable development correctly,playing its role in encouraging and restricting environmental protection.Finally,green credit can guide the flow of funds and to satisfy the industry,so to satisfy the funding requirements for structural upgrades.Green credit achieved the industrial structural upgrading by four mechanisms,details as follows,capital formation and orientation,reputation guidance,technology promotion and information transmission.Thus,it promotes the industrial structure from high resource input,high pollution emission type to low energy consumption and low pollution.The transformation and upgrading of the green industry will realize the advanced and rationalization of the industrial structure.In recent years,the People’s Bank of China,the Banking and Insurance Regulatory Commission,the Development and Reform Commission and other departments have issued a series of relevant guidance to implementing green credit,which has played an important role of guiding the development of green credit for banks.Major commercial banks have also implemented the concepts of green credit,at the same time,innovating the green credit products,which have promoted the scale of green credit significantly.However,due to the lack of flexibility and unified standards,the incentive and restraint mechanisms,internal green credit management mechanisms are inadequate,and in a sense,the environmental protection information sharing still got many deficiencies,thatThis paper selects the relevant panel data of 31 provinces in China from2009 to 2017,making empirical analysis by fixed-effect panel models and random-effect panel models.According the results,green credit has a significant positive correlation with the advanced and highly advanced industrial structure.Human capital and financial support also have a certain positive correlation,but with a lower distinctiveness.Therefore,during the processing of optimizing the industrial structure,it is necessary to take the green concept as a guide,improve green credit laws and regulations,strengthen green credit incentive and restriction policies,unify the green credit industry standards of the banking industry,establish the sharing platforms full of environmental protection information.More fundamentally,optimization the management system of green credit in commercial banks,and finally,make the harmonious development of finance and environment become a reality.