Abstract:
Against the backdrop of China actively promoting domestic consumption and achieving its dual carbon goals, green finance serves as a crucial tool for advancing sustainable development and plays a vital role in shaping the green consumption market. Based on panel data from 30 provinces and cities in China from 2009 to 2021, this paper employed the Spatial Durbin Model to explore the impact mechanism of green finance on green consumption. The research results indicate a significant positive spatial correlation between green finance and green consumption. The advancement of green finance not only promotes the growth of green consumption within the region but also boosts green consumption in neighboring areas through regional economic linkage effects. This process is primarily achieved through the optimization of industrial structure and the upgrading of industrial levels. Moreover, the widespread application of digital technology and the improvement of population quality further enhance this positive impact. This promotion effect is particularly notable in the eastern regions and areas with stringent environmental regulations and mature financial systems. Based on these findings, it is recommended that the government formulate differentiated green finance policies for different regions, fully leveraging its potential in regional economic integration, promoting the rapid development of the green consumption market, and laying a foundation for achieving sustainable development goals.