Accelerating Urban Green Economic Growth Through Government Guidance Funds: Case Study of a National Green Finance Pilot City

Yanan Xue, Hongdi Wang and Qing Yang ()
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Yanan Xue: Zhejiang University of Finance and Economics
Hongdi Wang: Zhejiang University of Finance and Economics
Qing Yang: Zhejiang University of Finance and Economics

A chapter in Proceedings of the 27th International Symposium on Advancement of Construction Management and Real Estate, 2023, pp 1084-1096 from Springer

Abstract: Abstract The profound and lasting influence of Covid-19 and the global consensus of carbon peaking and carbon neutrality is reforming the underlying logic of economic development, and the green economy will become a new engine of economic growth in the future. Government guiding funds (GGF), as a policy tool in guiding industrial development, are playing an important role in stimulating low-carbon green economy growth in China. GGF is another approach different from PPP to harness the collective efforts of public and private sectors, in order to transform the industrial chain, innovation chain and value chain of the urban economy and improve economic resilience. A green GGF selects and financially invests the green startups in the market-oriented approach, yet under the government guidance and regulations, and it will withdraw from the investment when the green business fails or provides sufficient return. Taking the national green finance pilot city of Quzhou in Zhejiang Province as the case, this study adopted documentary analysis and semi-structured interview to identify the operation mechanism, strengths, and weaknesses of government guidance funds in developing green industries and improving urban economic resilience. Based on the experiences and lessons from the case study, some policy suggestions are provided for the improvement of government guidance funds in other regions in promoting green economy development.

Keywords: Government Guidance Funds; Low-Carbon; Green Economic Growth; Urban economicresilien (search for similar items in EconPapers)
Date: 2023
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DOI: 10.1007/978-981-99-3626-7_83

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