Win-win Strategy for China's Environmental Regulation and Economic Development

During the period of structural adjustment of China's economic development, solving the problem of environmental pollution has become an urgent need to realize the coordinated progress of economic development and ecological environment. However, whether the process of implementing environmental regulation to govern the ecological environment will have an inhibitory effect on China's economic development has become a key issue that needs to be answered urgently. Based on the panel data of China's prefecture-level cities and listed companies from 2007 to 2017, this paper makes an empirical study on the relationship between the environmental regulation of prefecture-level cities and the development of China's listed companies. The results of mean regression and quantile regression show that the strengthening of environmental regulation has a significant positive impact on the total factor productivity of enterprises, and this promotion effect will gradually improve with the improvement of enterprise production efficiency. Therefore, there is no contradiction between strengthening the management and protection of the ecological environment and achieving the phased goal of China's high-quality economic development.