Research On China's Green Finance Capital Flow Efficiency And System Optimization

It can improve the flow efficiency of the green financial capital to construct green financial system according with China's national conditions in order to guide social capital into green industry which can enhance the transformation of China's economy and promote the sustainable development of the society.This paper analyzed the actual situation in the development of green finance in China and use the experience of building and implementing the green financial strategy of developed countries for reference to optimize the green financial system in order to increase the flow efficiency of green financial capital which focused on the huge contradiction between worry of social capital return on investment and the shortage of green industry capital.This paper selected the data of green financial capital flow in each cities and provinces in 2010-2016 in China,the data of deal to green financial product of green credit in commercial banks in 2005-2016 and the data of benefit in financial institution,considering the difference between the policy and reality in different regions of China,which used Pareto optimality and general equilibrium model to analyze the theoretical derivation of green financial policy and which combined the spatial panel model and the Difference-in-Difference(DID)model to test the development direction and feasibility of green financial system optimization model and then the optimization model of the green financial system was put forward finally.The results shows that the flow efficiency of green financial capital in in China is high but there exists significant regional differences and the influence of the green capital to green industry in different regions of China is different and all aspects such as economy,finance,science and technology will affect the flow efficiency to the green capital.It is not very significant to the implementation effect of green financial policy on market capital but the effect of proof is gradually emerged as time goes on.It needs a targeted green financial development model for the optimization of the green financial system and others as needed such as stimulating green financial capital market from different angles,innovating the diversified green financial products and having the independent green financial institutions and regulatory system.This paper is not only an innovation of the financial theory model but also a useful exploration for formulating regional green finance policy in the practice of financial activities.