Researchonthe Impactof Green Fnanceon Ri Esidents’ Happiness

In the final analysis,China’s economic and social development is to improve people’s livelihood and seek well-being for the people.The ultimate value of socialism is the pursuit of universal happiness.In the era of rapid economic growth,China’s economic and social development has exposed the practical problems of environmental and sustainable development that need to be solved urgently,so the improvement of people’s happiness has become slow.So how to promote green and sustainable economic development,improve the ecological environment,and improve the quality of life of residents?In order to transform the traditional mode of economic growth,improve the ecological environment,promote stable economic and social development,and improve the happiness of residents,the Fifth Plenary Session of the 18 th Central Committee of the Communist Party of China designated "green development" as one of the five major development theories.Regarding how to promote green development,the 19 th National Congress clearly pointed out that green finance is the main means to promote green development.With the continuous development of green finance,the transformation of China’s traditional economic growth mode has accelerated,and the livability of China’s ecological environment has improved.While green finance has made great contributions to the economy,society and the environment,it has had a profound impact on the lives of residents.So can green finance improve the happiness of residents,and how does it play a role in residents’ happiness? This is the core question that will be explored later in this article.In order to analyze the relationship between green finance and residents’ happiness: first,this paper analyzes the development status of green finance and residents’ happiness based on the existing macro data and the 2018 China Comprehensive Social Survey(CGSS).Second,based on the connotation and related theories of green finance and residents’ happiness,this paper analyzes the mechanism of green finance affecting residents’ happiness.Thirdly,this paper constructs a green finance development level evaluation system through the entropy value method,takes the 2018 China Comprehensive Social Survey(CGSS)data as a sample,combines macro data,uses the ordered Probit quantitative regression method to empirically test the relationship between the two,and uses the least squares method to discuss endogenousness,and finally confirms the robustness of the regression results by robustness test.Fourth,this paper analyzes the heterogeneity of the impact of green finance on residents’ happiness by household income level,region,and urban and rural areas.Based on the empirical results,this paper concludes that first,green finance can improve the happiness of residents in general;Second,green finance mainly improves the happiness of residents by promoting economic growth and reducing environmental pollution;Third,the impact of green finance on residents’ happiness is heterogeneous,and green finance can significantly improve the happiness of middle-and high-income groups,eastern regions,central regions and urban residents.Based on the above analysis,this paper puts forward the following suggestions: first,the state should accelerate the improvement of the green finance development system and give full play to the welfare effect of green finance;Second,the state and government should accelerate the development of green finance in backward areas;Third,financial institutions should strengthen guidance for the development of green finance and provide financial well-being for residents;Fourth,strengthen the role of green finance in promoting the development of enterprises,so that enterprises can take the initiative to assume social responsibilities and promote harmonious economic and social development.