Research on the Impact of Green Digital Finance on the Industrial Green Transformation of Resource-Based Cities in China

Jingwen Wu

doi:10.6981/FEM.202602_7(2).0013

Authors

Jingwen Wu

DOI:

https://doi.org/10.6981/FEM.202602_7(2).0013

Keywords:

Green Digital Finance; Resource-based Cities; Industrial Green Transition.

Abstract

China possesses abundant natural resources, and resource-based cities have played a vital role in driving rapid national economic growth. However, these cities commonly exhibit industrial systems characterized by high emissions, high pollution, and high energy consumption. Their over-reliance on resource extraction is unsustainable, making green transition a critical issue. Green digital finance, an innovative service model integrating green finance and digital finance, plays a significant role in promoting the industrial green transition of resource-based cities. This study aims to examine whether green digital finance can influence this transition and analyze its mechanisms and effects, providing theoretical and empirical support for making policy. Based on a literature review and theoretical analysis, the study first defines key concepts, summarizes current developments and challenges, and explores potential mechanisms. Using panel data from 111 Chinese resource-based cities (2013–2023), it employs the EBM model to measure industrial green transition levels and econometric models to assess the impact of green digital finance. Results show that green digital finance significantly promotes the transition, mainly through enhancing human capital, alleviating financing constraints, and advancing industrial structure. Heterogeneity analysis reveals varying effects across city types, income levels, and geographical regions. Policy recommendations include: actively developing green digital finance to provide targeted green funding; leveraging its technological and inclusive features to ease corporate financing constraints; utilizing its mechanisms to enhance human capital and industrial upgrading; and implementing differentiated policies based on city-specific characteristics.

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