[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"doc-detail-127443-en":3,"doc-seo-127443-105":30,"detail-sidebar-cat-0-en-105":92},{"code":4,"msg":5,"data":6},0,"success",{"doc_id":7,"user_id":8,"nickname":9,"user_avatar":10,"doc_module":4,"category_id":11,"category_name":12,"doc_title":13,"doc_description":14,"doc_content":15,"file_id":16,"file_url":17,"file_type":18,"file_size":19,"view_count":20,"is_deleted":4,"is_public":20,"is_downloadable":20,"audit_status":20,"page_count":21,"language":22,"language_code":23,"site_id":24,"html_lang":23,"table_of_contents":25,"faqs":26,"seo_title":27,"seo_description":14,"update_tm":28,"read_time":29},127443,8796095027276,"Valentina","https://avatar.qwps.com/avatar/d3BzX2FwX3Rlc3RfMjUxMTI2XzAxODA=",8,"Research & Report","How FinTech Influences Green Industry Development - A Causal Inference Study Based on Double Machine Learning","This study uses panel data from 30 provinces over 2011–2023 to assess how tech finance affects green industry development through a double machine learning framework. Results indicate that tech finance advancement promotes green industry growth, and key regression patterns remain stable across robustness checks. Mechanism analysis shows that tech finance drives development by strengthening technological talent agglomeration and enabling industrial structure upgrading. Heterogeneity tests further suggest significant effects in eastern and central regions, while no statistically significant impact is found in western regions.","Modern Management Science & Engineering ISSN ISSN 2052-2576  \nVol. 7, No. 1, 2025  \n[www.scholink.org/ojs/index.php/mmse](www.scholink.org/ojs/index.php/mmse)  \nOriginal Paper  \nHow FinTech Influences Green Industry Development: A Causal Inference Study Based on Double Machine Learning  \nFei Ma1*  \n1 Guangxi Normal University, Guilin, Guangxi, China  \n* Corresponding Author  \nReceived: October 23, 2025 Accepted: December 08, 2025 Online Published: December 23, 2025  \ndoi:10.22158/mmse.v7n1p57 URL: [http://dx.doi.org/10.22158/mmse.v7n1p57](http://dx.doi.org/10.22158/mmse.v7n1p57)  \nAbstract  \nThis study employs panel data from 30 provinces between 2011 and 2023 to conduct an empirical analysis on the impact oftech finance on green industry development using a double machine learning model. The findings demonstrate that the advancement of tech finance contributes positively to the growth ofgreen industries. The regression results remain consistent after a series of robustness tests. Mechanism analysis indicates that tech finance fosters green industry development by promoting the agglomeration of technological talent and facilitating industrial structure upgrading. Heterogeneity tests reveal that tech finance has a significant promoting efect on green industry development in eastern and central regions, while its impact is not statistically significant in the western region.  \nKeywords  \ntech finance, green industry development, double machine learning, impact efects  \n1. Introduction  \nThe importance and urgency of thoroughly implementing the sustainable development strategy have become a broad consensus. The comprehensive green transformation of economic and social development serves as a core manifestation of practicing the concept of sustainable development. Among these efforts, the green transformation of production modes and lifestyles will ultimately be realized through the development of green industries. Promoting the green and low-carbon transition of the economy and society is widely regarded as a crucial link in achieving high-quality development. In the current landscape of financial development, \"building a strong financial nation\" has emerged as a strategic objective for the industry. In 2023, the focus within the sector has widely centered on five key areas: technology finance, green finance, inclusive finance, pension finance, and digital finance. Among these, technology finance is regarded as a core driver for technological innovation and  \neconomic growth. Against this backdrop, exploring the role of technology finance in promoting the development of green industries and analyzing its underlying mechanisms will not only help clarify its practical effects in fostering green transformation but also provide valuable insights for advancing related fields.  \n2. Literature Review and Research Question  \nAcademic research on technology finance has a well-established history. Some scholars trace the origin of the term \"technology finance\" to the establishment of the China Association for Promotion of Science and Technology Finance in 1992, indicating its distinct Chinese characteristics. Fang (2015) conceptualizes the essence of technology finance as aiming to cultivate high value-added industries, create high-wage employment, and enhance overall economic competitiveness by fostering deep integration and convergence of innovative elements such as technological capital, innovation capital, and entrepreneurial capital.  \nFrom an empirical perspective, Lei et al. (2024) employed the Dagum Gini coefficient to analyze the development level of technology finance across China's eight major economic regions and used kernel density estimation to examine its dynamic evolution. Other scholars have investigated the impact of technology finance from various angles, including the agglomeration of scientific and technological talent (Xie, 2022), the quality of firms' export products (Huang & Zhang, 2022), green technological innovat","cbCaihyiFzFdoyYx","https://ap.wps.com/l/cbCaihyiFzFdoyYx","pdf",312899,1,17,"English","en",105,"# Introduction\n# Literature Review and Research Question\n# Methodology and Data\n# Empirical Results\n# Mechanism Analysis\n# Heterogeneity Analysis\n# Robustness Checks\n# Conclusions and Implications","[{\"question\":\"What data and method does the study use to evaluate the effect of tech finance on green industry development?\",\"answer\":\"The study uses panel data from 30 provinces spanning 2011 to 2023 and applies a double machine learning approach for causal inference.\"},{\"question\":\"What is the main finding regarding the impact of tech finance on green industries?\",\"answer\":\"The results show that the advancement of tech finance positively contributes to the growth of green industries, and the findings hold after robustness tests.\"},{\"question\":\"How does tech finance promote green industry development according to the mechanism analysis?\",\"answer\":\"It promotes development by encouraging agglomeration of technological talent and facilitating industrial structure upgrading.\"}]","How FinTech Influences Green Industry Development - A Causal Inference Study Based on Double Machine Learning | PDF",1785938889,43,{"code":4,"msg":31,"data":32},"ok",{"site_id":24,"language":23,"slug":33,"title":13,"keywords":34,"description":14,"schema_data":35,"social_meta":87,"head_meta":89,"extra_data":91,"updated_unix":28},"how-fintech-influences-green-industry-development-a-causal-inference-study-based-on-double-machine-learning","",{"@graph":36,"@context":86},[37,54,69],{"@type":38,"itemListElement":39},"BreadcrumbList",[40,44,48,51],{"item":41,"name":42,"@type":43,"position":20},"https://docshare.wps.com","Home","ListItem",{"item":45,"name":46,"@type":43,"position":47},"https://docshare.wps.com/document/","Document",2,{"item":49,"name":12,"@type":43,"position":50},"https://docshare.wps.com/document/research-report/",3,{"item":52,"name":13,"@type":43,"position":53},"https://docshare.wps.com/document/how-fintech-influences-green-industry-development-a-causal-inference-study-based-on-double-machine-learning/127443/",4,{"url":52,"name":13,"@type":55,"author":56,"headline":13,"publisher":58,"fileFormat":61,"inLanguage":23,"description":14,"dateModified":62,"datePublished":63,"encodingFormat":61,"isAccessibleForFree":64,"interactionStatistic":65},"DigitalDocument",{"name":9,"@type":57},"Person",{"url":41,"name":59,"@type":60},"DocShare","Organization","application/pdf","2026-08-23","2026-08-05",true,{"@type":66,"interactionType":67,"userInteractionCount":20},"InteractionCounter",{"@type":68},"ViewAction",{"@type":70,"mainEntity":71},"FAQPage",[72,78,82],{"name":73,"@type":74,"acceptedAnswer":75},"What data and method does the study use to evaluate the effect of tech finance on green industry development?","Question",{"text":76,"@type":77},"The study uses panel data from 30 provinces spanning 2011 to 2023 and applies a double machine learning approach for causal inference.","Answer",{"name":79,"@type":74,"acceptedAnswer":80},"What is the main finding regarding the impact of tech finance on green industries?",{"text":81,"@type":77},"The results show that the advancement of tech finance positively contributes to the growth of green industries, and the findings hold after robustness tests.",{"name":83,"@type":74,"acceptedAnswer":84},"How does tech finance promote green industry development according to the mechanism analysis?",{"text":85,"@type":77},"It promotes development by encouraging agglomeration of technological talent and facilitating industrial structure upgrading.","https://schema.org",{"og:url":52,"og:type":88,"og:title":13,"og:site_name":59,"og:description":14},"article",{"robots":90,"canonical":52},"index,follow",{"doc_id":7,"site_id":24},{"code":4,"msg":5,"data":93},[94,98,102,106,111,116,121,124,129,132,136],{"id":20,"doc_module":4,"doc_module_name":46,"category_name":95,"show_sort_weight":96,"slug":97},"Story & Novel",90,"story-novel",{"id":47,"doc_module":4,"doc_module_name":46,"category_name":99,"show_sort_weight":100,"slug":101},"Literature",80,"literature",{"id":53,"doc_module":4,"doc_module_name":46,"category_name":103,"show_sort_weight":104,"slug":105},"Exam",70,"exam",{"id":107,"doc_module":4,"doc_module_name":46,"category_name":108,"show_sort_weight":109,"slug":110},5,"Comic",60,"comic",{"id":112,"doc_module":4,"doc_module_name":46,"category_name":113,"show_sort_weight":114,"slug":115},6,"Technology",50,"technology",{"id":117,"doc_module":4,"doc_module_name":46,"category_name":118,"show_sort_weight":119,"slug":120},7,"Healthcare",40,"healthcare",{"id":11,"doc_module":4,"doc_module_name":46,"category_name":12,"show_sort_weight":122,"slug":123},30,"research-report",{"id":125,"doc_module":4,"doc_module_name":46,"category_name":126,"show_sort_weight":127,"slug":128},9,"Religion & Spirituality",20,"religion-spirituality",{"id":127,"doc_module":4,"doc_module_name":46,"category_name":130,"show_sort_weight":127,"slug":131},"World Cup","world-cup",{"id":133,"doc_module":4,"doc_module_name":46,"category_name":134,"show_sort_weight":133,"slug":135},10,"Lifestyle","lifestyle",{"id":137,"doc_module":4,"doc_module_name":46,"category_name":138,"show_sort_weight":107,"slug":139},19,"General","general"]