Using Chinese provincial sample data from 2011–2021, the paper uses a Durbin spatial model and a threshold panel model to test hypotheses on the relationship between green finance and carbon-neutral performance. The study found that (1) green finance development would promote carbon-neutral performance; (2) there are notable spatial characteristics of green finance and carbon neutrality performance, with local carbon neutrality performance being influenced by local and neighboring green finance; (3) green finance impacts carbon-neutral performance at a single threshold, and different levels of green finance development affect carbon-neutral performance differently. In the eastern, central, and western regions, the contribution of green finance to carbon-neutral performance gradually decreases. Thus, Chinese authorities should strengthen the green sustainable financing system, promote regional green finance, and enhance the carbon-neutral performance of green finance.
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