当代经济科学2025，Vol.47Issue(6)：1-15,15.DOI:10.20069/j.cnki.DJKX.202506001
可持续金融支持新质生产力发展的理论机制研究
A Theoretical Mechanism Study on Sustainable Finance Supporting the Development of New Quality Productive Forces
摘要
Abstract
Developing new quality productive forces(NQPF)is an inevitable requirement for promoting high-quality economic development in China and an essential component of achieving Chinese-style modernization.Promoting the development of NQPF represents a broad and profound transformation of production relations,with sustainable finance serving as the"accelerator"of this transformation.Current research in China mostly focuses on the connotations and development paths of sustainable finance and NQPF separately.Few studies,starting from the theoretical origins of both concepts,explore the core synergistic evolutionary patterns of sustainable finance that support the development of NQPF and the theoretical mechanisms of their overall effects. This study first reviews the development background and core connotation of sustainable finance,clarifying that it is an integration of financial activities oriented toward achieving the 2030 Agenda for Sustainable Development,aiming to synergistically promote environmental,economic,social,and governance sustainability while strengthening national financial leadership.Based on this,the paper analyzes the operational mechanisms through which sustainable finance supports the development of NQPF.The research finds that sustainable finance,through its three major functions of resource allocation,risk management,and market pricing,provides financial support for traditional industry upgrading and emerging industry cultivation,mitigates risks in green technology R&D and industrial investment,and provides reasonable valuations for climate-friendly industries,thereby empowering the green and sustainable development of NQPF.However,sustainable finance still faces challenges in supporting the development of NQPF,including insufficient market scale effects due to volume and structure challenges,obstructed"technology-industry-finance"circulation due to data and talent challenges,and intensified risks in modern industrial system construction due to risk and regulatory challenges.To unblock the"bloodstream"of sustainable finance and empower the development of NQPF,China can enhance the effectiveness of sustainable finance services for NQPF development through measures such as continuously improving top-level design,expanding market scale,strengthening quality assurance,and enhancing risk management. Compared to previous literature,this paper makes contributions in three aspects.First,in terms of research perspective,this study innovatively incorporates sustainable finance and NQPF into a unified analytical framework,proposing a"Financial Functions-Industrial Carriers-Productivity Leap"theoretical framework that reveals the fundamental pathways through which sustainable finance supports the development of NQPF,filling the research gap in this interdisciplinary field.Second,in terms of mechanism pathways,this study elucidates the operational mechanisms through which sustainable finance promotes the high-end,intelligent,and green transformation of traditional manufacturing industries and cultivates strategic emerging industries and future industries through resource allocation,risk management,and market pricing mechanisms.Third,in terms of practical suggestions,addressing the three practical challenges of volume and structure,data and talent,and risk and regulation in China's sustainable finance support for NQPF development,the study proposes a"four-dimensional synergy"development strategy including improving the top-level design of sustainable finance,expanding the sustainable finance market scale,strengthening quality assurance for sustainable finance development,and enhancing sustainable finance risk management. This study advances the cross-disciplinary application of finance theory and NQPF theory in the field of sustainable development,provides theoretical support for the government in formulating policies related to sustainable finance supporting NQPF development,assists in constructing a modern industrial system,and strengthens the financial support foundation for building a modern socialist country.关键词
可持续金融/新质生产力/现代化产业体系/传统产业转型/新兴产业培育/资源配置/风险管理/市场定价Key words
sustainable finance/new quality productive forces/modern industrial system/transformation of traditional industries/cultivation of emerging industries/resource allocation/risk management/market pricing引用本文复制引用
王遥,李雨珊,吴祯姝..可持续金融支持新质生产力发展的理论机制研究[J].当代经济科学,2025,47(6):1-15,15.基金项目
国家自然科学基金项目"碳中和目标下能源企业的资产搁浅风险及对内地与香港资本市场的影响"(72361167635). （72361167635）
