Study On The Impact Of Green Finance Policy On The Green Transformation Of Manufacturing Industry

In the context of "Made in China 2025" and "dual-carbon" goals,the green transformation of manufacturing industry needs policy guidance and high-quality green financial support.Policy text is an effective and objective proof to record the intention of government policy and the embodiment of government policy activities.Therefore,in order to investigate the relationship between green finance policy and the green transformation of manufacturing industry,this paper takes the green finance policy text as the entry point to discuss the impact of green finance policy on the green transformation of manufacturing industry.First,elaborate the research background and significance,and comb and evaluate the relevant literature at home and abroad,to find the foothold of this paper.Secondly,on the basis of defining the concept of green finance policy and green transformation of manufacturing industry,the theories of green finance,public policy,green development and industrial upgrading are introduced into the research framework to explore the function mechanism between green finance policy and green transformation of manufacturing industry.Thirdly,examine the realistic characteristics of both.First,analyze the current situation of green financial policy text from the two dimensions of quantity,type and formulation subject,and quantify the trend and section,construct the index system,calculate the overall and subdivision dimension level of green transformation of manufacturing industry,and analyze the cross-section characteristics and the trend characteristics of the national and four economic regions and provinces.Finally,the dynamic panel SYS-GMM model and the panel data model are constructed to demonstrate the effect mechanism of green financial policies affecting the green transformation of manufacturing industry,and analyze the adjustment effect,policy subject and spatial and temporal heterogeneity.The conclusion shows that green finance policy promotes green transformation of manufacturing through green credit transmission mechanism,and the promotion effect increases over time;local green finance policy promotes green transformation better but not synergistic with the central green finance policy;green finance policy promotes contribution of green development but not green innovation drive and green environmental regulation;there are provincial differences in the role of green finance policy in promoting the green transformation of manufacturing industry.According to the research conclusion,five important inspirations are put forward: First,strengthen green finance policy support and promote green transformation of manufacturing;Second,strengthen central and local policy coordination and enhance the overall effectiveness of green finance policy;Third,improve the environmental information disclosure system and promote enterprises to implement the main responsibility of environmental protection;Fourth,establish policy coordination mechanism,promote the integration of green finance and industrial development policy;Fifth,promote the promotion of green finance reform demonstration experience and narrow the regional differences of green finance policy promoting manufacturing green transformation.