How does FinTech promote the low-carbon transformation of energy consumption in China?

IF 13.6 2区经济学 Q1 ECONOMICS

Energy Economics Pub Date : 2025-07-04 DOI:10.1016/j.eneco.2025.108704

Wei Zhou , Yan Chen , Cesheng Zhang

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Abstract

FinTech significantly influences consumer behaviors and the demand and supply of energy consumption, making it meaningful to explore its relationship with the low-carbon transformation (LCT) of energy consumption in China, which are two emerging and interconnected issues. In this study, we conduct a multidimensional analysis of how FinTech promotes the LCT of energy consumption in China, encompassing empirical studies, pathway identification, and mechanism analysis. The results show that: (1) FinTech can significantly promote the LCT of energy consumption in China. (2) Mechanism analysis reveals that FinTech facilitates this transition through three pathways, namely household income growth, corporate innovation promotion, and industrial upgrading propulsion. (3) Heterogeneity tests indicate that the impact of FinTech on LCT is more pronounced in northern provinces and central-western regions. (4) From the supply perspective, FinTech significantly promotes LCT following the implementation of the new Environmental Protection Law. (5) From the demand perspective, FinTech also advances this transformation even before the enactment of the law. Based on these findings, we offer policy recommendations to further promote the LCT of energy consumption in China and support the continued development of FinTech.

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金融科技如何促进中国能源消费的低碳转型？

金融科技显著影响着消费者行为和能源消费的供求关系，因此探讨金融科技与中国能源消费低碳转型之间的关系具有重要意义，这是两个新兴且相互关联的问题。在本研究中，我们对金融科技如何促进中国能源消费的LCT进行了多维分析，包括实证研究、途径识别和机制分析。结果表明：(1)金融科技对中国能源消费的LCT有显著促进作用。(2)机制分析表明，金融科技通过增加家庭收入、促进企业创新和推动产业升级三种途径促进了这一转变。(3)异质性检验表明，金融科技对低成本就业的影响在北部省份和中西部地区更为明显。(4)从供给角度看，新环保法实施后，金融科技显著促进了LCT的发展。(5)从需求角度来看，FinTech甚至在法律颁布之前就推动了这种转变。基于这些发现，我们提出了进一步促进中国能源消费LCT和支持金融科技持续发展的政策建议。

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来源期刊

Energy Economics ECONOMICS-

CiteScore

18.60

自引率

12.50%

发文量

524

期刊介绍： Energy Economics is a field journal that focuses on energy economics and energy finance. It covers various themes including the exploitation, conversion, and use of energy, markets for energy commodities and derivatives, regulation and taxation, forecasting, environment and climate, international trade, development, and monetary policy. The journal welcomes contributions that utilize diverse methods such as experiments, surveys, econometrics, decomposition, simulation models, equilibrium models, optimization models, and analytical models. It publishes a combination of papers employing different methods to explore a wide range of topics. The journal's replication policy encourages the submission of replication studies, wherein researchers reproduce and extend the key results of original studies while explaining any differences. Energy Economics is indexed and abstracted in several databases including Environmental Abstracts, Fuel and Energy Abstracts, Social Sciences Citation Index, GEOBASE, Social & Behavioral Sciences, Journal of Economic Literature, INSPEC, and more.