Research on the impact mechanism of green finance on industrial digitalization

In January 2022, the “Notice of the State Council on Issuing the Digital Economy Development Plan for the ‘14th Five-Year Plan’ ” issued by the Central Committee of the Communist Party of China and the State Council clearly stated that data resources would be the key element during the ‘14th Five-Year Plan’ period, and all-element digital transformation will become the vital driving force to promote the healthy development of the digital economy. Based on this, this article analyzes the influencing factors of industrial digitalization objectively with the usage of panel data from 30 Chinese provinces and cities from 2012 to 2021 to examine the impact of green finance on industrial digitalization. The results show that green finance is a favorable factor in promoting the development of industrial digitalization. The degree of advanced industrial structure is positively related to the degree of industrial digitalization. However, the proportion of greening in urban built-up areas hinders the development of industrial digitalization to a certain extent, and the Urban-rural income gap is negatively related to industrial digitalization.