Impact of Green Credit on Industrial Structure in China

Abstract

Since the reformation and opening up, the conflict between domestic economic development and environmental pollution has become increasingly obvious, and the structure of industry needs to be adjusted urgently. Based on the strategic background of sustainable development, green credit policy has been proposed to balance the relationship between economic development and environmental protection. Green credit adopts a differentiated credit strategy for highly polluting industries and green and energy-saving industries to support the development of green and environmental industries, forcing highly polluting and high-emission industries to upgrade their technological innovation and reduce energy consumption and pollution emissions. In the demand for green economy, China's green credit has become the main driving force to achieve high-quality development such as ecological, circular and low-carbon development of industries, and green credit has a positive effect on the upgrading of industrial structure. In the process of implementing green credit in China, there are still problems such as time lag in the improvement of industrial efficiency and obvious differences in the promotion effect in different regions, which affect the effect of green credit on the optimization and upgrading of industrial structure. It is recommended to focus green policies on the government and banking financial institutions, increase the government's green financial support, and continuously improve the green credit system of banks.