| Since the reform and opening up,China’s GDP has maintained a rapid growth for many years.With the rapid development of politics,economy,culture and other aspects,China is also facing increasingly serious environmental and energy problems.At the 19th National Congress of the Communist Party of China,it was first proposed to“establish and improve the economic system of green and low-carbon circular development".Accelerating the green development of the manufacturing industry is an important measure to build a modern industrial system and promote the high-quality development of China’s economy.The 20th National Congress of the Communist Party of China clearly pointed out that it is necessary to"promote the high-end,intelligent and green development of the manufacturing industry,and accelerate the green transformation of the economy”.At the same time,it emphasized the importance of promoting carbon peak and carbon neutrality,It is required to improve the market trading system of carbon emission rights.Therefore,it is of great significance to study the green transformation of China’s manufacturing industry under the carbon trading policy for promoting the modernization of China’s industrial system and achieving high-quality economic development.The 19th National Congress of the Communist Party of China put forward that technological innovation is the key to promoting green economic development.In the report of the 20th National Congress of the Communist Party of China,it pointed out that education,science and technology and talents are the basic and strategic support for building a socialist modern country in an all-round way.At the same time,it proposed that green transformation should accelerate the adjustment and optimization of industrial structure and energy structure.Therefore,there are intermediary effects of technological innovation,industrial structure and energy structure optimization in the impact of carbon trading policies on green transformation of manufacturing industry.Based on this,this paper brings technological innovation,industrial structure and energy structure into the research framework,examines the intermediary effect of the above factors in the process of carbon trading policy affecting green transformation of manufacturing,and discusses the impact of carbon trading policy market mechanism on green transformation of manufacturing,so as to enrich the theoretical and empirical research on carbon trading policy and green transformation of manufacturing,and to promote green economic development Provide experience in improving the carbon emission trading market system.Based on the above research background and ideas,this paper uses the super efficiency SBM-GML model considering unexpected output to calculate the green total factor productivity of manufacturing industry in 30 provinces(cities and autonomous regions)in China from 2007 to 2019 to evaluate the green transformation level of manufacturing industry.On this basis,the regression equation of carbon trading policy and green transformation of manufacturing industry is constructed,and the continuous double difference method is used to explore the impact of carbon trading policy on green transformation of manufacturing industry.Further,the intermediary model is constructed by taking technological innovation,industrial structure and energy structure as intermediary variables to explore the intermediary effects of the above three factors in the relationship between carbon trading policies and green transformation of manufacturing industry.In addition,the price of carbon emission rights and the activity of carbon trading market are used as regulatory variables to explore the role of carbon trading policy market mechanism in the green transformation of manufacturing industry.Through empirical analysis,this paper draws the following empirical results:first,carbon trading policy has a significant role in promoting green transformation of manufacturing.Second,technological innovation,industrial structure and energy structure are important intermediary channels for carbon trading policies to affect green transformation of manufacturing industry.Carbon trading policies accelerate green transformation of manufacturing industry by promoting technological innovation and optimizing industrial structure and energy structure.Third,the market mechanism of carbon trading policy has promoted the green transformation of manufacturing industry.Higher carbon prices and frequent trading have played a positive role in the green transformation of manufacturing industry.Finally,this paper puts forward relevant policy implications based on the research conclusions.The carbon trading policy has a positive effect on the green transformation of the manufacturing industry,and technological innovation,industrial structure and energy structure serve as the bridge to this effect.Therefore,in order to enhance the promotion of carbon trading policy on the green transformation of the manufacturing industry,we should attach importance to research and development,strengthen the regulation and guidance of the industrial structure of the manufacturing industry,increase the proportion of manufacturing enterprises using clean energy,and expand the coverage of the carbon trading market,We will strengthen supervision over the performance of enterprises. |
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