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ORIGINAL RESEARCH article

Front. Environ. Sci.
Sec. Environmental Economics and Management
Volume 12 - 2024 | doi: 10.3389/fenvs.2024.1473621

The Effect of Green Finance on the Transformation and Upgrading of Manufacturing Industries in the Yangtze River Economic Belt of China

Provisionally accepted
Yanbing Sun Yanbing Sun 1Hui Zhong Hui Zhong 2Yuhan Pan Yuhan Pan 2Yuning Wang Yuning Wang 3Decai Tang Decai Tang 2*
  • 1 Jiangsu Open University, Nanjing, Liaoning Province, China
  • 2 Nanjing University of Information Science and Technology, Nanjing, Jiangsu Province, China
  • 3 Lanzhou University, Lanzhou, Gansu Province, China

The final, formatted version of the article will be published soon.

    China's manufacturing sector is a cornerstone of its industrial system. However, some parts of China are dominated by heavy chemicals, which leads to severe environmental pollution. The emergence of green finance (GF) can influence social capital to gradually withdraw from companies that emit pollution and increase investment in environmentally friendly ones. This paper selects the data related to GF and the manufacturing industry (MI) from 2011 to 2020 by exploring the effect of GF on the transformation and upgrading of manufacturing industries (MIU) through literature analysis and the Spatial Durbin model. The results demonstrate that GF positively influences the promotion of MIU, whereas MIU has a good spatial spillover effect. The results of this regression remain robust after a series of tests. This research suggests that the government and enterprises should pay attention to GF and encourage more enterprises to take the initiative to adjust the industrial direction and achieve a clean upgrade in manufacturing.

    Keywords: green finance, Manufacturing industry, Transformation and upgrading, spatial Durbin model, Yangtze River Economic Belt (YREB)

    Received: 31 Jul 2024; Accepted: 09 Oct 2024.

    Copyright: © 2024 Sun, Zhong, Pan, Wang and Tang. This is an open-access article distributed under the terms of the Creative Commons Attribution License (CC BY). The use, distribution or reproduction in other forums is permitted, provided the original author(s) or licensor are credited and that the original publication in this journal is cited, in accordance with accepted academic practice. No use, distribution or reproduction is permitted which does not comply with these terms.

    * Correspondence: Decai Tang, Nanjing University of Information Science and Technology, Nanjing, 210044, Jiangsu Province, China

    Disclaimer: All claims expressed in this article are solely those of the authors and do not necessarily represent those of their affiliated organizations, or those of the publisher, the editors and the reviewers. Any product that may be evaluated in this article or claim that may be made by its manufacturer is not guaranteed or endorsed by the publisher.