绿色金融支持河北省新质生产力发展的逻辑与供需分析

Green Finance Supporting the Development of New Quality Productive Forces in Hebei Province: Logic and Supply-Demand Analysis

摘要: 绿色金融作为引导社会资本投向绿色产业的重要制度安排，通过资金引导、风险分担和要素配置等功能，为新质生产力发展提供资本支撑。本文从需求侧与供给侧两个角度，系统分析绿色金融支持河北省新质生产力发展的适配性问题。研究发现，河北省八大主导产业和不同区域对新质生产力的发展路径选择存在显著差异，由此形成多元化、结构化的绿色金融需求格局。然而，当前绿色金融供给在规模、结构和主体三个层面均存在一定程度的供需错配，突出表现为绿色金融资源的空间分布与转型需求的迫切程度不相匹配、信贷期限结构与绿色项目回报周期不相匹配、产品体系与中小创新主体的融资特征不相匹配等结构性矛盾。据此，本文提出构建跨区域金融协作网络、建立全生命周期金融接力机制、强化金融机构绿色识别能力、实施分级分类治理等政策建议，以期为绿色金融精准支持区域新质生产力发展提供参考。

Abstract: As a key institutional arrangement that directs social capital toward green industries, green finance provides capital support for the development of new quality productive forces through its functions of capital allocation, risk sharing, and factor reallocation. This paper systematically examines the adaptability of green finance in supporting the development of new quality productive forces in Hebei Province from both the demand-side and supply-side perspectives. The findings reveal that the eight pillar industries and different regions within Hebei exhibit significant heterogeneity in their development pathways toward new quality productive forces, giving rise to a diversified and structurally differentiated pattern of green finance demand. However, the current supply of green finance suffers from supply-demand mismatches at three levels-scale, structure, and borrower coverage-manifested notably in the spatial misallocation of green financial resources relative to the urgency of transition needs, the maturity mismatch between credit terms and the payback cycles of green projects, and the misalignment between product offerings and the financing characteristics of small and medium-sized innovative entities. Accordingly, this paper proposes policy recommendations including the establishment of cross-regional financial cooperation networks, the development of a full-life-cycle financing relay mechanism, the strengthening of financial institutions’ green identification capabilities, and the implementation of a tiered and categorized governance framework, with a view to providing practical references for the precise deployment of green finance to support regional new quality productive forces.