Open Access

ARTICLE

Impact of Financial Technology on Regional Green Finance

Zheng Liu¹, Juanjuan Song¹, Hui Wu^2,*, Xiaomin Gu², Yuanjun Zhao³, Xiaoguang Yue⁴, Lihua Shi¹

1 School of Management, Shanghai University of Engineering Science, Shanghai, 201620, China
2 School of Financial Technology, Shanghai Lixin University of Accounting and Finance, Shanghai, 201209, China
3 School of Business Administration, Shanghai Lixin University of Accounting and Finance, Shanghai, 201209, China
4 School of Sciences, European University Cyprus, Nicosia, 22006, Cyprus

* Corresponding Author: Hui Wu. Email:

Computer Systems Science and Engineering 2021, 39(3), 391-401. https://doi.org/10.32604/csse.2021.014527

Received 26 September 2020; Accepted 04 April 2021; Issue published 12 August 2021

Abstract

Finance is the core of modern economy, and a strong country cannot do without the support of financial system. With the rapid development of economy and society, the traditional financial services can not support the increasingly large and complex economic system. As a brand-new format, financial technology can help the financial industry to restructure and upgrade. At the same time, as an international consensus, green development is the only way for China to achieve sustainable development. Therefore, it is of great practical significance to study the impact of finance on the regional development of green finance. Based on the essence of green finance development, fuzzy principal component analysis is used to build the green finance evaluation index system in this paper. Taking the data of three provinces and cities in the Yangtze River Delta from 2015 to 2019 as an example, QAP analysis is used to study the impact of financial technology on the regional development of green finance. Research shows that explanatory variables are highly significant, that is, financial technology has a significant role in promoting green finance. Finally, based on the research conclusions, this paper puts forward suggestions on how green technology can better promote the development of green finance from three aspects of top-level design, technical research and supervision.

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Citations