Research On The Support Of Green Finance To Low-carbon Economy In Eastern China

Over the years,the economy has developed rapidly in China and we have made great achievements.However,the ensuing climate changes,such as increasingly serious haze and climate warming,makes people realize that the former economic development mode needs to be improved,and the improvement of the ecological environment cannot be ignored.At the end of 2015.China made the solemn commitment to implement the double high carbon target plan for the first time,and promote the transformation of various economic forms to low carbon.Under the double carbon background,China makes much account of the growth of various products of green finance,and a number of policies have been steadily promoted to promote the sustainable development of environmental protection and economic society while maintaining the sustainable development of the financial industry itself.Therefore,it is necessary to study the dynamic relationship between green financial products and low-carbon economy.Firstly,this paper uses the literature research method to sort out and summarize the green finance,low-carbon economy,and the supporting role of green finance to low-carbon economy.It finds that the evaluation index method and measurement model are the mainstream research methods,indicating that green finance can promote the development of low-carbon economy by using a variety of tools.Then,the theoretical basis and development status of green finance and low-carbon economy in China are analyzed.Based on the data of 11 provinces(cities)in eastern China from 2010 to 2019,appropriate indicators are selected and entropy method is used to measure the development level of green finance and low-carbon economy in eastern China.Finally,the panel data model is constructed to verify the support of green finance to low-carbon economy in eastern China,and providing conclusions and recommendations in the light of above chapters.The research finds that the development level of green finance and low-carbon economy in eastern China has shown an upward trend in recent years,but there are still uneven internal development in specific provinces(cities).Green finance gives full play to its role in resource allocation,dispersing non systematic risks and reducing information asymmetry.It can boost the majorization and promotion of local economic structure and give some degree of support for the growth of regional lowcarbon economy.According to the conclusions of the study,this paper suggests to improve the green financial product system,strengthen the relevant policies of green finance and low-carbon economy,develop low-carbon scientific and technological innovation,increase the proportion of green industry,and let green finance play a greater role in promoting the development of low-carbon economy.