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Impact of carbon emissions, green energy, artificial intelligence and high-tech policy uncertainty on China’s financial market

Author

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  • Zhang, Xilin
  • Li, Guangwu
  • Wu, Ran
  • Zeng, Hongjun
  • Ma, Shenglin

Abstract

This study investigates the impact of policy uncertainty in carbon emissions, green energy, and high-tech sectors on China’s financial market. For this purpose, we develop four specific indices—artificial intelligence policy uncertainty (AIPU), carbon emissions policy uncertainty (CEPU), green energy policy uncertainty (GEPU), and high-tech policy uncertainty (HTPU). Using wavelet coherence analysis, we examine the dynamic relationships between these uncertainties and the Chinese stock market from a time–frequency perspective over 2000–2023. Results show that AIPU has the most pronounced long-term impact (32–64 months), CEPU exerts the strongest and most consistent influence in the medium term (12–16 months), GEPU is more prominent in the short term, and HTPU presents a fragmented, less stable pattern.

Suggested Citation

  • Zhang, Xilin & Li, Guangwu & Wu, Ran & Zeng, Hongjun & Ma, Shenglin, 2025. "Impact of carbon emissions, green energy, artificial intelligence and high-tech policy uncertainty on China’s financial market," Finance Research Letters, Elsevier, vol. 82(C).
    • Handle: RePEc:eee:finlet:v:82:y:2025:i:c:s154461232500858x
    DOI: 10.1016/j.frl.2025.107599
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