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Interaction Effects of Green Finance and Digital Platforms on China’s Economic Growth

Author

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  • He Li

    (School of Management, Universiti Sains Malaysia (USM), Penang 11800, Malaysia)

  • Nurhafiza Abdul Kader Malim

    (School of Management, Universiti Sains Malaysia (USM), Penang 11800, Malaysia)

  • Xiaojun Xie

    (School of Mathematical Sciences, Universiti Sains Malaysia (USM), Penang 11800, Malaysia)

  • Xuyang Du

    (School of Management, Universiti Sains Malaysia (USM), Penang 11800, Malaysia
    School of Economics and Business Administration, Heilongjiang University, Harbin 150001, China)

Abstract

This study examines the interaction effects of green finance and digital platforms on China’s economic growth, employing panel data from 30 provinces spanning the period 2013–2023. Green finance is measured using green bonds and green credit, while digital platforms are proxied by electronic payment and e-commerce penetration. Previous empirical findings indicate that both green finance and digital platforms significantly contribute to economic growth. A 1% increase in the interaction term between green finance and digital platforms, based on fixed effects models with robust standard errors, results in a 0.0204% increase in GDP, supporting the hypothesis of a positive interaction. Control variables including money supply, fiscal expenditure, inflation rate, fixed asset investment, and industrial structure, are included to isolate the net effects of green finance and digital platforms on GDP growth, reinforcing the study’s econometric robustness. This study contributes novel evidence on how the integration of green finance and digital infrastructure fosters sustainable and inclusive economic development.

Suggested Citation

  • He Li & Nurhafiza Abdul Kader Malim & Xiaojun Xie & Xuyang Du, 2025. "Interaction Effects of Green Finance and Digital Platforms on China’s Economic Growth," Sustainability, MDPI, vol. 17(18), pages 1-16, September.
    • Handle: RePEc:gam:jsusta:v:17:y:2025:i:18:p:8171-:d:1746906
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