Research On The Influence Of Green Finance On Upgrading Of Chinese Industrial Structure

In recent years,the Party and the state have proposed new development concepts of innovation,coordination,green,openness,and sharing,with a greater emphasis on the quality of development.It is clearly stated that we should always focus on supply side structural reform,vigorously promote high-quality economic development,and accelerate the upgrading of industrial structure.In 2020,the CPC Central Committee put forward the goals of "carbon peak" and "carbon neutrality",indicating that the Party and the country attach great importance to environmental protection and sustainable economic development.At present,China is facing the transformation of development mode,Economic restructuring and industrial structure upgrading,which all need the support of green finance.Green finance has great advantages in the allocation of green environmental resources.It can help enterprises in energy conservation,environmental protection,low-carbon and other fields develop rapidly,and contribute to building a green China and achieving the goal of "double carbon".Under the current development requirements,the study of the impact of green finance on the upgrading of industrial structure provides a sustainable development path for improving the ecological environment and economic development.This paper discusses the impact of green finance on the upgrading of China’s industrial structure through theoretical analysis,comparative analysis and empirical analysis.In terms of theoretical analysis,first of all,it combed the relevant literature on green finance,industrial structure upgrading,and the impact of green finance on industrial structure at home and abroad,and briefly analyzed the relevant theory and mechanism.In the aspect of comparative analysis,it mainly analyzes the development status of green finance and industrial structure.In the empirical aspect,four secondary indicators of green credit,green securities,green insurance and green investment are selected for the selection of green finance indicators,and three secondary indicators of industrial structure upgrading,namely,industrial structure upgrading,industrial structure rationalization and industrial structure ecology,are selected for the selection of industrial structure upgrading indicators.The development level of green finance and industrial structure in 30 provinces,cities and autonomous regions across the country are calculated by subjective weighting method and entropy method respectively.Using the data of 30 provinces,cities and autonomous regions in China from 2010 to 2020,this paper constructs a static panel model and a dynamic panel model,conducts regression analysis of panel data,and conducts heterogeneity analysis and robustness test.At the same time,mesomeric effect test and regulation effect test are conducted to study the transmission mechanism of green finance.The results show that the development level of green finance and the upgrading level of industrial structure in China are on the rise,and the development of provinces and cities in the eastern region is better than those in the central and western regions;From the national perspective,green finance has significantly promoted the upgrading of industrial structure;From the regional perspective,the impact of green finance on the upgrading of industrial structure has regional heterogeneity.The eastern region has the largest and significant impact,followed by the western region,and the central region is not significant.From the analysis results of mesomeric effect and moderating effect,technological progress has a positive mesomeric effect;The level of economic development has a positive regulatory effect.Finally,some suggestions were proposed based on the research findings.