Promoting industrial green transformation is an essential requirement for the comprehensive construction of Chinese-style modernization.This article analyzes data from 30 provinces in China from 2008 to 2020,calculates the level of industrial green transformation across different regions,and exam-ines the actual impact of green finance on industrial green transformation,while investigating the moder-ating role of government intervention in this process.The research finds that green finance has a signifi-cant positive effect on industrial green transformation.Green finance primarily exerts its promoting effect by adjusting industrial structures and enhancing technological levels.The effects and mechanisms of green finance on industrial transformation show clear differences across regions with varying natural re-source endowments and financial resources.Indirect government intervention has a beneficial moderat-ing effect on industrial green transformation,while direct intervention,primarily based on fiscal expendi-ture,tends to have a constraining effect.Differences in regional economic levels and fiscal pressures also result in variances in the moderating effects of government intervention.The study concludes that achiev-ing industrial green transformation requires the joint efforts of the market and government,emphasizing the importance of identifying the appropriate degree and scope of government intervention to foster posi-tive interactions between the two.
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