The Measure Of Development Level And The Analysis Of Influence Factors About Regional Carbon Finance In China

In the 21 st century,no matter from the global perspective or the domestic perspective,in the context of global warming,how the low-carbon economy will develop in the future has aroused widespread attention of the whole society.As stated by Nicholas Stern,climate change has become an important hindrance factor for the sustainable development of the global economy and society,and it is regarded as the biggest market failure so far.For our country,the rapid economic development after the reform and opening up has brought in excessive consumption of resources and rapid environmental damage.In the report of the 19 th National Congress of the Communist Party of China,General Secretary Xi Jinping emphasized that "building an ecological civilization is a millennium plan for the sustainable development of the Chinese nation." The good construction of ecological civilization and the strong protection of the ecological environment not only reflect the importance and urgency at the practical level,but also have strategic significance and long-term value at the future level.The unified carbon market which covers the entire country after the 19 th National Congress was officially launched on December 19,2017.Carbon emission trading has entered a new stage in China.As a supplier of CDM projects,China has great potential in the development of carbon finance.This paper first describes the research background and significance of carbon finance,introduces the overall research framework of this paper,and combines relevant theories with its current development status in China,and then innovatively divides 30 provinces in China into eight economic regions.First,factor analysis is used to measure the development level of carbon finance in various economic regions in China from 2011 to 2015.The paper chooses the third industry structure optimization,the value-added of financial sector,carbon intensity,the proportion of expense of technology and carbon emission loan intensity respectively as the index of economic development,financial environment,energy efficiency,science and technology and financial low carbonization.By analyzing these indices,we compare the development level of carbon finance between eight different economic regions.After that,a panel regression model was used to empirically analyze the six factors which theoretically affected the carbon finance development in China and various economic regions,they are urban registered unemployment rate,industrial added value,local fiscal environmental protection expenditure,and public transport vehicles,the completion of investment in industrial pollution control and the coverage of greening in built-up areas.The paper explores the important factors that has a significant impact on the development of China's economy as a whole and in the eight major economic regions,and accordingly put forward relevant policy recommendations to speed up the further development of regional carbon finance in China.