In recent years, China has adhered to the concept of green development as well as focused on building a “community of human and natural life”. Since 2017, it has been proposed that China’s economic development has shifted from high-speed growth to high-quality development. In this context, the green and low-carbon transformation and development of heavily polluting corporations is imminent. In view of this, we start from state subsidies, explore their impact on the green innovation of high-polluting corporations. We find that state subsidies have a catalytic effect on green innovation of high-polluting corporations. In order to help China continuously improve state subsidies and green development management, and make better use of state subsidies in promoting green innovation of high-polluting corporations, we put forward relevant suggestions.
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Yang et al. (2024) studied this question.
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