Research On The Influences Of Carbon Finance Market Based On CDM In China To Regional Economic Structure

At present, China’s carbon finance market stays in a primary stage, thus the vast majorityof market behavior is around energy conservation and emission reduction projects. Accordingto the measures of carbon trading, carbon finance in commercial banks and carbon fund, themain purposes of the players in this market are to restrict the expansion of the enterpriseswhich have high pollution, high energy and high emission, to support low-carbon and newenergy industries, and to encourage the research and development of low-carbon technologies,which will promote the structural transformation in regional industries. Through the furtherresearch on CDM project from2006to2011, it is found that CDM projects have volatility inits quantity variation, diversity in variety and serious disequilibrium in different regions andtypes. Based on the panel data in empirical model, we chose the variation of industrial andenergy consumption structure as examples. Using the pool estimation, random and fixed ef-fects model, we made a linear regression on carbon trading volume in unit GDP. The resultshows that the carbon trading volume due to CDM will push the adjustment of regional in-dustrial and energy consumption structure and obviously impact the latter. Specifically, whencarbon reduction in unit GDP grows a time, the change of industrial and energy consumptionstructure will be9.53%and12.54%. Since the carbon financial market’s current situation andthe significant function it made to the regional economic structure, it is suggested that gov-ernment should improve the uniform and perfect legal and market system on carbon finance,promote the financial sectors participating the carbon financial market and encourage the fur-ther development of CDM.