Research on the Mechanism, Effect and Evaluation System of Green Finance Promoting Industrial Upgrading Under the Background of the Transformation of Old and New Kinetic Energy

Zuojian ZHENG, Hao SUN, Bing XU, Lei ZHANG


China’s 14th Five-Year Plan addresses ecological degradation, resource depletion, and economic issues by proposing a “dual cycle” strategy. Green finance gains importance in this context. The plan focuses on upgrading the industrial structure, aligning with supply-side reform for higher-quality development. Research shows that green finance can guide funds towards eco-friendly sectors, aiding industrial optimization. Shandong Province, a pilot zone for energy conversion, plays a crucial role in achieving carbon neutrality. Studying how green finance drives industrial upgrading in Shandong holds practical and academic value. The paper outlines: explaining green finance and industrial structure theories, analyzing their interplay, assessing Shandong’s green finance and structural progress, empirical analysis of 2010-2021 data, and offering development recommendations based on findings.


Green finance; Upgrading of industrial structure; Transition to new from old economic

Full Text:



Berensmann, K., & Lindenberg, N. (2016). Green finance: Actors, challenges and policy recommendations. German Development Institute/Deutsches Institut für Entwicklungspolitik (DIE) Briefing Paper, (23).

Cai, H. Y., & Yan, Q. M. (2004). Industrial structure adjustment and financial development: A cross-industry survey from China. Management World, (10), 79-84.

Cowan, E. (1999). Topical issues in environmental finance. Research paper commissioned by the Asia Branch of the Canadian International Development Agency (CIDA), (1), 1-20.

Gan, C. H., Zheng, R. G., & Yu, D. F. (2015). The impact of China’s industrial structure changes on economic growth and fluctuation. In Shanghai Federation of Social Sciences (Eds.), Shanghai Academic Report (2012-2013) (pp. 57-58). Shanghai People’s Publishing House.

Labatt, S., & White, R. R. (2002). Environmental finance: A guide to environmental risk assessment and financial products (Vol. 98). John Wiley & Sons.

Li, X. X., Xia, G., & Cai, N. (2015). Green finance and sustainable development. Finance Forum, (10), 30-40.

Ma, J. (2015). On the construction of China’s green financial system. Financial Forum, (05), 18-27.

Salazar, J. (1998). Environmental finance: Linking two worlds [Workshop report]. Presented at a Workshop on Financial Innovations for Biodiversity, Bratislava.

Scholtens, B., & Dam, L. (2007). Banking on the equator: Are banks that adopted the equator principles different from non-adopters? World Development, 35(8), 1307-1328.

Sheng, C. X. (2020). Ideas and strategies for promoting the transformation of new and old kinetic energy during the “14th Five-Year Plan” period. Reform, (02), 5-19.

Soundarrajan, P., & Vivek, N. (2016). Green finance for sustainable green economic growth in India. Agricultural Economics, 62(1), 35-44.

Volz, U. (2018). Fostering Green Finance for Sustainable Development in Asia. ADBI Working Paper 814. Tokyo: Asian Development Bank Institute. Available:

Wang, X. G. (2015). Conversion of old and new kinetic energy: Challenges and responses. People’s Forum, (35), 16-18.

Wang, X. J., Liu, P. C., & Xu, Q. Q. (2019). Building an innovation ecosystem to promote the transformation of new and old kinetic energy: Dynamic mechanism and realization path. Economic System Reform, (06), 12-18.

Xu, W. J. (2011). Building a green financial system to accelerate the transformation of economic development mode. Seeking Truth from Facts, (1), 44-46.

Zeng, X. W., et al. (2014). Measurement and analysis of the development degree of China’s green finance. Journal of China Yan’an Leadership Academy, 7(06), 112-121+105.

Zhang, L. Q. (2016, July 19). China’s economy is accelerating the transformation of new and old kinetic energy. People’s Daily Overseas Edition.



  • There are currently no refbacks.

Copyright (c) 2024 Canadian Social Science

Creative Commons License
This work is licensed under a Creative Commons Attribution 4.0 International License.


  • How to do online submission to another Journal?
  • If you have already registered in Journal A, then how can you submit another article to Journal B? It takes two steps to make it happen:

1. Register yourself in Journal B as an Author

  • Find the journal you want to submit to in CATEGORIES, click on “VIEW JOURNAL”, “Online Submissions”, “GO TO LOGIN” and “Edit My Profile”. Check “Author” on the “Edit Profile” page, then “Save”.

2. Submission

Online Submission

  • Go to “User Home”, and click on “Author” under the name of Journal B. You may start a New Submission by clicking on “CLICK HERE”.
  • We only use four mailboxes as follows to deal with issues about paper acceptance, payment and submission of electronic versions of our journals to databases:;;;

 Articles published in Canadian Social Science are licensed under Creative Commons Attribution 4.0 (CC-BY).


Canadian Social Science Editorial Office

Address: 1020 Bouvier Street, Suite 400, Quebec City, Quebec, G2K 0K9, Canada.
Telephone: 1-514-558 6138 
Website: Http://; Http://;

Copyright © Canadian Academy of Oriental and Occidental Culture