The construction of green finance and high-quality economic development under China's SDGs target

The study of top economic growth with the goal of Sustainable Development Goals (SDGs) has become an important issue in the world, and scholars have analyzed high-quality economic development(HED) influencing factors from many perspectives, but there are few studies on green finance(GF) and high-quality economic development(HED). we examine the logical link between green financing and high-quality economic development, as well as the transmission mechanism behind this relationship. Using data from 30 Chinese regions from 2011 to 2021, our empirical study shows that green financing may improve high-quality economic development. Several robustness tests show that this association exists. Furthermore, our findings indicate that more robust government governance and market synergy may promote green finance for high-quality economic development. Green finance can enhance high-quality economic development by minimizing resource mismatch and encouraging green technology advancement. Simultaneously, green finance for high-quality economic development is significantly heterogeneous. Green credit and green insurance are important forms of support for promoting high-quality economic development, with significantly higher impacts in the eastern regions than in the central and western regions. Our research offers policymakers insights on encouraging green finance growth in China.

Automated summary

The study examines the relationship between green financing and high-quality economic development, and finds that green financing can improve high-quality economic development. The research also highlights the importance of government governance and market synergy in promoting green finance for high-quality economic development. The impact of green finance on high-quality economic development is heterogeneous, with green credit and green insurance having significantly higher impacts in the eastern regions of China.