Study on Convergence of China’s Regional Green Finance Development

This paper analyzes the convergence conditions of regional green finance development in China from three aspects: economic development level, industrial structure layout and energy consumption structure, and proposes three hypotheses. Then based on the four levels of green credit, green securities, green insurance and carbon finance, the regional green finance development index of China was evaluated. According to the evaluation results, 30 provinces in China (except Tibet, Hong Kong, Macao and Taiwan) are divided into three regions, and then the Tyre index and its decomposition methods are used to analyze the regional differences and trends of green finance development in China; The panel data spatial econometric model is used to empirically test the convergence of regional green finance development in China. It is concluded that there are two stages of σ convergence, significant spatial β convergence and space club convergence in the development of China's green finance from 2010 to 2016. The development of regional economy, the upgrading of regional industrial structure and the optimization of regional energy consumption structure have promoted the convergence of regional green finance development.