Digital Inclusive Finance Helps Green Industry in Fujian Province Development

Abstract

Aims: Digital inclusive finance, as a combination of modern technology and financial services, has developed rapidly in recent years. This new financial model has not only changed the traditional way of providing financial services, but also profoundly affected all aspects of economic and social development. The report of the 18th CPC National Congress made the important decision of "vigorously promoting the construction of ecological civilization " from the strategic height of the sustainable development of the Chinese nation. China's green industry has ushered in a new phase of rapid development. As an important province on the southeast coast of China, Fujian Province, with rich natural resources and vast rural areas, is an important region to promote the development of green industry. Methodology: In this paper, the green industry index of nine prefecture-level cities in Fujian Province from 2011 to 2021 is selected as the explanatory variable, and the development level of digital inclusive finance is taken as the core explanatory variable to explore the impact of digital inclusive finance on the development of green industry in Fujian Province. Results: According to the multiple linear regression, it is found that the level of green industry development is positively correlated with the level of digital inclusive finance development at the 1% significant level, i.e., digital inclusive finance helps to promote the development of green industry in Fujian Province. Conclusion: Based on the findings of the study, the paper puts forward the following recommendations: through the provision of low-cost financing, innovative financial products, digitalized payments and settlements, popularisation of financial education, and the promotion of cooperation, digital inclusive finance can effectively support the development of the green industry. This not only helps to achieve the goal of environmentally sustainable development, but also promotes economic growth, creates employment opportunities and enhances social well-being.