Research On The Impact Of Fintech Innovation On Green Bond Market

In recent years,China’s economy has continuously made new breakthroughs,becoming the second largest economy in the world after the United States.However,it is worth noting that China is facing the severe situation of tightening resource constraints,worsening environmental pollution and degrading ecological environment.In this regard,"changing the mode of economic development and promoting green development" was proposed in the 18th National Congress of the Communist Party of China.Under the background of green development,green finance for financing green industries came into being.Green bonds are an important part of the green financial system and play an important role in promoting green development.Information asymmetry can be said to be the biggest obstacle in the process of financial development,and the development of green bond market is also limited by information asymmetry.Combining financial technology with green bonds,and applying financial technology such tools as big data,blockchain and artificial intelligence to green bond issuance procedures and subsequent fund management,including screening green projects,rating green projects and tracking green funds,can alleviate the information asymmetry in green bond market,reduce risks and improve the efficiency of green financing.Since the first green bond was issued in China,the green bond market in China has developed rapidly and the market environment has become increasingly perfect.However,it is undeniable that there are still many problems to be solved in China’s green bond market.Based on the existing research results of financial technology and green finance,this paper further explores the influence of financial technology on green bond market.First of all,this paper combs the development and changes of green market,and summarizes the characteristics of green bond market and the pain points in its development.Secondly,the influence of financial technology on green bond market is analyzed theoretically,including the influence mechanism of financial technology from the perspective of information asymmetry;And the application scenarios of financial technology core technologies represented by big data,blockchain and artificial intelligence in green bonds.Thirdly,from the perspective of the application of financial technology,this paper constructs the financial technology index and makes an empirical analysis based on the data of 28 provinces,municipalities and autonomous regions.The empirical results show that the innovation and development of financial technology has a positive impact on the green bond market.Finally,this paper argues that there are some challenges in the application of financial technology in green bond market,such as financial technology innovation risk,lack of financial technology talents and lack of international cooperation and exchange,and puts forward countermeasures and suggestions.