In-depth observation: Give full play to the leading role of green finance and create efficient ecological green industrial clusters
XiJinpingThe General Secretary studied at the 11th collective session of the Political Bureau of the CPC Central CommitteeXiShi emphasized: "Continue to optimize the economic policy toolbox that supports green and low-carbon development, give full play to the leading role of green finance, and create efficient ecological and green industrial clusters." Building efficient ecological green industrial clusters is an important link in promoting green and low-carbon economic and social development. The key lies in giving full play to the leading role of green finance.
The driving role of green finance in building efficient ecological green industrial clusters
The essence of green finance is based on the principles of ecology, green and low-carbon to realize the cross-time and cross-space allocation of scarce resources. Green finance can promote efficient clusters of ecological green industries through functions such as resource allocation, price discovery, and risk management. From the perspective of resource allocation, green funds, green credit, green bonds, etc. can guide resources to gather in ecological green industries; from the perspective of price discovery functions, green finance can promote the price discovery of ecological products through environmental ownership transactions; from the perspective of risk management functions, tools such as green insurance can build mechanisms such as ecological product protection and environmental pollution risk sharing, thereby promoting the diversification of participants. The function of green finance will help to ultimately realize the spatial agglomeration, economic agglomeration, technological agglomeration, and ecological agglomeration of ecological green industrial clusters.
Green finance promotes the construction of new infrastructure and facilitates the spatial agglomeration of efficient ecological green industrial clusters. Green finance, especially policy-based green finance, supports the construction of new infrastructure such as 5G and high-speed rail, and provides basic and public service engineering facilities for traditional industries in terms of digital transformation, intelligent upgrading, integrated innovation, etc.; supports ecological green basic research and major scientific and technological projects, R & D platforms, and incubator cultivation, etc., promote the agglomeration of industries in physical and virtual spaces, as well as achieve cross-regional cooperation, efficient division of labor, misplaced development, and mutual integration.
Green finance promotes the creation of green and low-carbon supply chain networks and helps the economic agglomeration of efficient ecological and green industrial clusters. Green finance supports key links in the industrial chain and supply chain of ecological green industries. It can strengthen the traction role of leading enterprises, drive upstream and downstream enterprises to gather, and make industrial clusters bigger and stronger. By cultivating and supporting "unicorns" and specialized and innovative "little giant" enterprises, we will promote the network integration of upstream, middle and lower reaches of the ecological and green industrial chain supply chain, and large, medium and small enterprises.
Green finance promotes the construction of independent and efficient innovation networks and facilitates the technological agglomeration of efficient ecological and green industrial clusters. Green finance actively cultivates and strengthens diverse innovation entities in the field of green technology innovation composed of enterprises, universities, scientific research institutions and platforms, and strengthens the status of enterprises as the main body of green technology innovation. Use green financial tools to create a green technology collaborative innovation market-oriented mechanism that complements each other's advantages, shares risks, innovates and enhances efficiency, and shares benefits.
Green finance promotes the realization of the value of ecological products and assists the ecological agglomeration of efficient ecological green industrial clusters. Create policy-based green financial tools to solve problems such as long investment cycles, high risks, and low returns for ecological product restoration and protection; make good use of the "eco-bank" concept to promote the solution of problems such as concentration, scale, and insufficient high-end production of ecological products; Build mechanisms such as linking ecological credit and financial credit to enhance the endogenous power of the ecological product consumer market.
At present, although my country's green finance has reached a scale, its traction on efficient ecological green industrial clusters is still insufficient. In 2023, the national green loan balance will be 30.08 trillion yuan, and the stock balance of green bonds will exceed 3 trillion yuan, ranking among the top in the world. However, green credit will account for more than 43% of infrastructure projects, and less than 14% will be invested in energy conservation and environmental protection; Among the industries to which green bonds belong, the financial industry accounts for nearly 60%, and the manufacturing industry is less than 2%.
Practical path to building efficient ecological green industrial clusters driven by green finance
To give full play to the leading role of green finance in building efficient ecological and green industrial clusters, we must adhere to the system concept, start from the aspects of green finance infrastructure, product services, institutional cultivation, market mechanisms, regulatory systems, etc., and strengthen coordination with industry, environmental protection and other policy measures. Cooperate, strengthen the consistency assessment of policies and measures, and form a strong synergy.
First, create efficient ecological green industrial clusters with safe and stable green financial infrastructure. Establish a complete green finance standard and evaluation system, and explore a cluster green finance support catalog. Guide green financing companies to further increase the frequency of disclosing green environmental information, etc., and strengthen information disclosure and supervision. Use modern digital technologies such as big data to build a "digital + ecological + financial" information platform, create infrastructure such as carbon accounts, and strengthen the management of carbon footprints and ecological information in all links and regions of industrial clusters, and promote ecological resources, enterprises, information docking between clusters and financial institutions and financial markets promotes the transmission and accumulation of information within clusters, and solves problems such as difficulty in measuring, trading, monetization, and mortgage ecological products.
Second, create efficient ecological green industrial clusters with professional and diversified green financial products and services. Actively design and promote various innovative green financial products and services, and provide all-round, diversified, professional and personalized financial services. Explore and carry out joint credit granting of green credit, etc., and promote cluster-based small and medium-sized enterprises to jointly carry out green financing. Encourage green intermediary service institutions such as carbon accounting and verification, environmental consulting, and green asset assessment to provide clustered services. Through green credit and other ecological efficiencies such as ecological vertical compensation, horizontal compensation, and government purchase service models, we will build a "government credit + financial leverage" model to expand demand for ecological products and industrial agglomeration.
Third, cultivate green financial institutions with division of labor and cooperation to create efficient ecological green industrial clusters. Encourage different types of financial institutions to accurately position themselves and give full play to their respective comparative advantages to provide diversified funds. Cultivate and attract long-term institutional investors and promote them to invest in efficient ecological green industrial clusters. Cultivate a green financial intermediary service system, establish a green certification center, carry out professional certification of green projects, and realize the connection of certification results with financial institutions and financial markets. Promote the spatial layout of financial institutions to match the spatial layout and business needs of efficient ecological green industrial clusters, and provide specialized services.
Fourth, create efficient ecological green industrial clusters with efficient and reasonable green financial market mechanisms. Improve multi-level capital markets such as green bonds, and take multiple measures to expand financing channels. Develop a multi-level bond market structure and promote industrial clusterssetBonds and high-yield bonds, etc., expand the use of green bonds and encourage their use for green supply chain procurement and other purposes. Explore asset securitization such as green accounts receivable and smooth green financing channels in the industrial chain and supply chain. Improve exit mechanisms such as green venture capital and promote the connection between the technological innovation chain and the capital chain during cluster development. Innovate services for market transactions such as carbon emission rights, water rights, energy use rights, and emission rights, and deepen the price discovery, risk management and mortgage financing functions of relevant ownership rights.
Fifth, create efficient ecological green industrial clusters with a complete and effective green financial supervision system. Through "sandbox supervision" and other financial innovations that encourage service industrial clusters and industrial development, efficient supervision in the full cycle before, during and after the event can be achieved, and green finance can be effectively prevented from turning real into virtual. Promote ecological green certification of products, projects, and enterprises, use big data and other information technologies, build a dynamic traceability platform for certification information, etc., strengthen green certification supervision, and effectively combat "green-bleaching" and other behaviors. Always pay attention to potential risk changes in the development of efficient ecological green industrial clusters, and establish early detection, early identification, early warning, and early disposal mechanisms to prevent risks.
Author units: Chen Zhen, Chongqing Technology and Commerce University; Luo Yinchen, Southwest Petroleum University; Wen Chuanhao, Yunnan University
