Research On The Impact Of Green Credit On The Harmonious Development Of Economy And Environment

The 20th Party Congress report put forward the theme of "promoting the greening of economic and social development",and the coordinated development of economy and environment has become the main feature of China’s economic and social development.As the main channel for financing green projects and the core force in building a green financial system,the core idea of green credit is to achieve environmental regulation through financial leverage,invest more resources in green and environmentally friendly production fields,encourage green development,and achieve a win-win situation for both economic development and environmental protection.Therefore,green credit is precisely an important focus point for achieving harmonious development of the economy and the environment.Based on this background,how to evaluate the development status of green credit in China,the level of coordinated development of economy and environment,and clarify and test the impact effect of green credit on coordinated development of economy and environment will become the focus of achieving win-win situation of economic development and environmental protection.Therefore,to conduct an in-depth study on the impact of green credit on the harmonious development of economy and environment in China,firstly,analyse the current situation,changing trends and evolutionary characteristics of green credit through data statistics and comparisons.Secondly,the evaluation index system for the coordinated development of economy and environment is constructed,and the coupled coordination degree and relative development degree of 30 provinces(municipalities and autonomous regions)in China from 2011 to 2020 are measured through the coupled coordination degree model and relative development degree model.Finally,based on the mechanism of the effect of green credit on the coordinated development of economy and environment,the threshold effect of the effect of green credit on the coordinated development of economy and environment is studied through a panel threshold regression model.The study found that: firstly,green credit in China has a significant role in promoting the coordinated development of economic development and ecological environment.In addition,there is a non-linear relationship between green credit and the coordinated development of economic development and ecological environment at different stages of technological innovation development,or under different intensity of environmental regulation.Secondly,there is significant regional heterogeneity in the impact of green credit on the coordinated development of economic development and ecological environment,with the promotion of economic and environmental compatibility being stronger for the eastern and western regions,and relatively weaker in the central region.Thirdly,the path of green credit’s effect on the coordination of economic development and ecological environment mainly contains four aspects: technological innovation effect,environmental regulation effect,industrial structure effect and investment adjustment effect.This paper argues that we should catalyse technological innovation and strengthen the training of professional talents.Second,continue to improve the legal system supporting green credit and formulate differentiated environmental regulation policies.Then promote the upgrading of industrial structure.Finally,share regional green information to improve the efficiency and optimise the investment structure of enterprises.