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The development of green finance in China is still in its initial stage, and there is little research on the implementation effect of green finance. In this paper, using grey relational model, the green credit balances of 21 major domestic banks from 2013 to 2017 are selected to reflect the capital investment of green finance, while the net profit of listed banks reflects the development of financial industry and the net profit of environmental protection enterprises reflects the development of green industry. The results show that the green credit balance has a higher grey correlation with listed banks but it has a higher correlation with environmental protection enterprises, which proves that the implementation of green finance can promote the development of financial industry and green industry, but it can promote green industry even more.

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