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The construction of pilot zones for green finance reform and innovations (GFRI) is an important initiative for the Chinese government to develop a green economy. Based on 3236 A-share listed enterprises from 2011 to 2018, this paper uses the difference-in-differences method (DID) to examine whether GFRI can promote enterprise green technology innovation. The results show that GFRI can significantly enhance enterprise green technology innovation. This conclusion is still robust after the parallel trend test, PSM-DID and placebo inspection. The mechanism research shows that GFRI can relocate the internal and external financing constraints, and then promote enterprise green technology innovation. Further, heterogeneity analysis shows that GFRI’s green technological innovation incentives only exist in the eastern region and non-state-owned enterprises, which not only significantly improves the total green technology patents, but also significantly improves the green invention patents and green practical patents. For the central and western regions and state-owned enterprises, GFRI can only enhance the green invention patents. From the perspective of enterprise green technology innovation, this paper assesses the implementation effect of GFRI, providing theoretical support and empirical evidence for green finance policies to serve China’s green economy.

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Exploring the co-benefits of low-carbon tech-innovation in response to climate change on haze pollution is an important foundation for China’s ecological construction, and also a key path to the common goal of carbon and haze reduction. Based on the STIRPAT model and EKC hypothesis, the dynamic spatial Durbin model (SDM) is constructed to empirically analyze the co-benefits and the mechanism of low-carbon tech-innovation on haze pollution in 30 Chinese provinces from 2006 to 2018. The results show that 1) haze pollution in different regions of China shows significant temporal and spatial correlation. 2) China’s low-carbon tech-innovation brings the co-benefits of haze pollution suppression and long-term positive externalities between regions. 3) Environmental policy and industrial structure play a moderating and mediating role, respectively, the former produces the “innovation offset” effect. 4) Both types of low-carbon tech-innovation can suppress haze pollution, but gray tech-innovation shows better haze control ability and cross-regional diffusion ability. Therefore, a long-term mechanism for haze control and joint prevention and control should be established to prevent the rebound and agglomeration of haze, and balance the development of different types of low-carbon technologies to achieve coordinated control of carbon emissions and haze.

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