Research On The Impact Of Green Finance On Environmental Protection Investment Of Manufacturing Enterprises

China is in the transition period from high-speed development to high-quality development.While obtaining economic benefits,we must pay attention to ecological and environmental protection.The manufacturing industry,as the driving force of economic development,must carry out a series of green reforms such as pollution and carbon reduction,energy conservation and emission reduction and cleaner production under the background of stricter environmental protection policies.Facing the huge gap of environmental protection capital demand,green finance came into being,which is undoubtedly a "timely help" for countless manufacturing enterprises.The emergence of green finance has effectively promoted the environmental protection investment of manufacturing enterprises through capital diversion,financial support and environmental protection incentive.However,there are still various problems in this promotion process.It is very necessary to solve these problems,whether for the development of green finance or the growth of manufacturing enterprises.On the basis of systematically combing the existing literature,this paper finds out the mechanism of the impact of Green Finance on environmental protection investment of manufacturing enterprises by sorting out the relevant concepts.On this basis,YF company is taken as the research object for field investigation.Through the basic situation of its impact on environmental protection investment since its participation in green finance for five years,this paper compares the market reaction and financial performance before and after,It is found that with the deepening of participation in green finance,the amount of environmental protection investment of YF company increases year by year.At the same time,the ratio of environmental protection investment to net profit gradually shows a downward trend,which means that participating in green finance actively makes environmental protection investment and enhances the profitability of the enterprise in the long run,The enhancement of profitability in turn confirms the correctness of enterprises’ environmental protection investment decisions,and encourages enterprises to continue to participate in green finance and make environmental protection investment.While analyzing the problems encountered by YF company in the process of participating in green finance and actively investing in environmental protection,it also investigates and analyzes the multi participants of green finance,and finds that green finance can promote the environmental protection investment of manufacturing enterprises.However,there are still some problems,such as policies to be improved,low attention of financial institutions,low participation of enterprises,imperfect third-party supporting facilities and so on.By learning from the practical experience of multi participants,this paper puts forward some suggestions,such as the government giving full play to the regulation function,financial institutions improving the green financial business system,enterprises giving full play to their subjective initiative,and improving the supporting service system.