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Using the China Health and Retirement Longitudinal Study, this paper studies the impact of abnormal hot temperature on residents' demand for commercial health insurance. The results show that for every 1°F rise in abnormal temperature, the probability of people buying commercial health insurance increased by 6%. Furthermore, the abnormal hot temperature has a more significant impact on the commercial health insurance demand of women, residents in the South and residents in the East. Channel analysis shows that abnormal hot temperature affects the demand for commercial health insurance through two channels: increasing residents' concern about climate risk and affecting health. This paper provides evidence for actively promoting sustainable development and improving the construction of medical security system.

This paper uses the Difference-in-Differences method to test the impact of the promulgation of Green Credit Guidelines, a market-oriented environmental regulation, on the enterprise market expansion strategy, based on the panel data of Chinese A-share listed companies from 2008 to 2015. We find that the promulgation of Green Credit Guidelines significantly inhibited the market expansion strategy of high pollution enterprises. Two channels through which the Green Credit Guidelines affect the market expansion strategies of high polluters are increasing the cost of financing and promoting green R&D. Heterogeneity analysis finds that the impact of Green Credit Guidelines on the market expansion of highly polluting enterprises is more significant in non-state-owned enterprises and enterprises without equity incentive. Further analysis shows that the promulgation of Green Credit Guidelines damages the corporate image and profitability of high polluting enterprises, but it doesn’t increase the risk of high polluting enterprises. The results of this research could help relevant government departments to formulate practical environmental regulations and promote sustainable economic development.

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