Empirical Analysis Of The Impact Of Green Credit Policies On The Development Of Chinese Manufacturing Enterprises

With the rapid development of my country’s economic level,the problems of environmental pollution and resource depletion have become increasingly prominent.In order to achieve sustainable economic and social development,the relevant departments of the Chinese government have jointly issued a green credit policy.Commercial banks have introduced environmental protection standards in the loan approval process,and restricted high-polluting and high-energy-consuming manufacturing enterprises from debt financing.Enterprises in the "leftover" industry are faced with the dilemma of being unable to obtain financing or even shutting down if they do not save energy and reduce emissions.The green credit policy is to adjust and control the environmental pollution of manufacturing enterprises through financial means,promote the green transformation of the manufacturing industry,and achieve sustainable and high-quality development,which has important practical significance.Based on the above background,this paper analyzes the green loan scale of each bank under my country’s green credit policy,sorts out the development indicators of China’s manufacturing industry from 2001 to 2020,and draws the conclusion that green credit negatively affects the development of the manufacturing industry.Combined with the implementation direction of the green credit policy,this paper deeply analyzes the mechanism by which the proportion of interest expenditures of six energy-intensive industries in various regions and nationwide affects the contribution of manufacturing development to GDP,and puts forward relevant assumptions:green credit The policy will inhibit the financing behavior of"two high and one surplus" enterprises,thereby inhibiting the investment expansion behavior of enterprises;the inhibitory effect of green credit on the investment and financing behavior of heavily polluting enterprises is greater than that of non-polluting enterprises,and green credit on the investment and financing of enterprises in high-emission areas The inhibitory effect of behavior is greater than that in low-emission areas,and the inhibitory effect of green credit on state-controlled enterprises is greater than that of non-state-owned enterprises;green credit has a negative impact on the growth of manufacturing output by inhibiting the expansion of high-energy-consuming enterprises.In terms of research methods,on the basis of studying the existing literature,this paper adopts the methods of theoretical analysis and empirical research to collect and sort out relevant data indicators,sort out the impact of green credit on the development of the manufacturing industry,and draw relevant conclusions and policy recommendations to promote my country’s Sustainable and high-quality development of manufacturing enterprises.On the basis of the existing literature research results,I focus on analyzing the development of the manufacturing industry from 2001 to 2020 and the impact of green credit on the development of the manufacturing industry.The role of financing is not offset by the transformation and upgrading effect of the Porter hypothesis.The innovation of this paper is that,using panel data for multiple regression analysis,it is concluded that green credit will have a certain inhibitory effect on the investment,financing behavior and the scale of employees of manufacturing enterprises.Conclusions on the effect of inhibition.Since the goal of the green credit policy is to promote the sustainable development of the manufacturing industry,in the follow-up research,further research will be conducted on the impact of the green credit policy on the upgrading and green transformation of the manufacturing industry to explore the inhibition of green credit on the development of the manufacturing industry.effect and the promotion of industrial transformation and upgrading.