Green Financial Development,Technological Innovation And Industrial Structure Optimization

China and the world’s major developed countries have experienced environmental problems caused by rapid economic development.In addition to terminal governance,many international organizations and multinational governments have recognized the positive role of green finance in resource allocation.Green finance can give full play to the incentive mechanism of capital allocation,guide social funds to invest in green projects with positive externalities and realize the reform of industrial structure,which is a key link for countries around the world to achieve sustainable development.China’s economy is still in the transition period to a green low-carbon circular economy,and the industrial structure is constantly optimizing and adjusting.Therefore,promoting the development of green finance and promoting the optimization and upgrading of industrial structure is an important content for China to solve environmental problems and achieve sustainable development.Taking the relationship between green financial development,technological innovation and industrial structure optimization as the research theme,this paper studies the impact of green financial development on industrial structure optimization,and analyzes its intermediary mechanism through technological innovation.Firstly,this paper constructs a comprehensive index to measure the development of green finance and industrial structure,and analyzes its temporal and spatial characteristics.Then,it uses the method of coupling coordination degree to analyze the coordinated development relationship between them,and then uses the basic regression model,total effect model and intermediary effect model to study the relationship between green finance development,technological innovation and industrial structure optimization,Based on the coupling coordination degree grouping regression,this paper compares the heterogeneous impact of the relationship between green financial development,technological innovation and industrial structure optimization in different provinces.Finally,this paper gives the conclusion and puts forward the corresponding policy suggestions from the three aspects of financial institutions,financial infrastructure and fiscal and financial policies.The results show that: first,the development of green finance in China is on the rise,in which green insurance and green credit play a leading role.Second,the main characteristics of the change of national industrial structure are that the growth of the tertiary industry is faster than that of the secondary industry,and the trend of advanced industrial structure is obviously faster than that of rationalization of industrial structure.Third,the overall coupling and coordination degree of China’s green financial development and industrial structure optimization is on the rise.They continue to develop in coordination,but there are still significant differences between different provinces.Fourth,the development of green finance promotes the optimization of industrial structure through direct ways.Fifth,in the provinces with poor coordinated development of green financial development and industrial structure,green financial development plays a strong role in promoting the optimization of industrial structure,and green financial development has greater marginal utility.Sixth,the development of green finance affects the optimization of industrial structure through indirect ways.The development of green finance can promote the optimization of industrial structure by promoting technological innovation,and technological innovation plays an intermediary role.Seventh,the provincial technological innovation that can well coordinate the development of green finance and industrial structure optimization will play a greater role in promoting the optimization of industrial structure,and can make the mechanism transmission path of green finance development,technological innovation and industrial structure optimization more unobstructed.