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Based on the provincial panel data of China from 2011 to 2020, this paper explores the relationship between two-way FDI and green technology innovation and examines the moderating role of digital finance in the impact of two-way FDI on green technology innovation. The results show that (1) two-way FDI can significantly enhance the level of green technology innovation. (2) Digital finance plays a moderating effect in the process of two-way FDI to enhance the level of green technology innovation. The conclusion is still robust by replacing the dependent variable, eliminating special samples and shrinking the tail. (3) The results of sub-dimensional analysis show that the three sub-dimensions indicators of the digital finance also have a positive moderating effect on the relationship between two-way FDI and green technology innovation. (4) The results of sub-regional regression show that the moderating effect in the central and western regions is greater than that in the eastern region. The results of the study can provide reference for governments to formulate policies about digital finance, which is conducive to achieve high-quality opening-up and realize green development. [ABSTRACT FROM AUTHOR]

As China's economy continues to grow rapidly, the importance of green and sustainable development is increasingly prominent. In this context, enterprises have undergone significant changes in all aspects of the value creation process. Based on the data of Chinese a-share listed companies from 2011 to 2021, this paper links the digital transformation of enterprises with the green technology innovation of enterprises. The focuses on the relationship between the enterprises' digital transformation and the enterprises' green innovation and its Local-neighborhood effect. Research shows that the digital transformation of enterprises will promote the enterprise green technology innovation, and this relationship will have a Local-neighborhood effect in different regions, and this spatial spillover effect is mainly achieved through the transfer of high-tech industries between regions. The results of heterogeneity test show that the effect of green technology innovation is the strongest in Beijing-Tianjin-Hebei economic circle, and the weakest in Pearl River Delta economic circle. Based on the spatial econometric model, this paper provides empirical evidence for the government and the state to formulate the regional development strategy of enterprises' digital transformation and green innovation. • Spatial panel Durbin model reveals digital transformation's impact on green technology innovation and regional spillover. • The effect of digital transformation of enterprises on their own green technology innovation has a "local-neighborhood" effect. • The spatial spillover effect is mainly realized through the transfer of high-tech industries between regions. • The strongest green technology innovation effect is found in the Beijing-Tianjin-Hebei economic circle. [ABSTRACT FROM AUTHOR]

Foreign direct investment (FDI) technology spillovers play an increasingly important role in a host country's development. Evaluating the positive effect of FDI inflows on green innovation is essential for correct city design. Based on the panel data of 262 cities in China from 2004 to 2018, we first analyzed the impact of FDI technology spillovers on green innovation in Chinese cities and then tested the threshold effect in four absorptive capacity factors: environmental regulation, economic growth, human capital, and industry size. Finally, we compared the time and space of two types of cities crossing the threshold from the perspective of innovative and non-innovative cities. The results show that FDI can significantly promote green innovation in Chinese cities and the promoting effect of FDI on green innovation has nonlinear characteristics, namely, such effects only make sense when absorptive capacity is above the threshold points. Additionally, among the four absorptive capacity factors, the development degrees of innovative cities are ahead of non-innovative cities; in particular, there is a significant difference between them in terms of economic growth. Local governments should develop reasonable policy combination tools according to the absorptive capacity characteristics of different cities to effectively promote the technology spillover effect of FDI and achieve coordinated ecological and economic development. [ABSTRACT FROM AUTHOR]

Latecomer technology imitation and learning is an important driving force to enhance their competitiveness and total factor productivity (TFP). This paper constructs green TFP (GTFP) based on the SBM–Global–Luenberger index, using Chinese provincial panel data from 2003 to 2017. The marginal effects of foreign direct investment (FDI), outward foreign direct investment (OFDI), import and export, and intangible and total international technology spillovers (ITS) on GTFP were assessed. These effects were analysed under the influence of absorption capabilities such as research and development intensity, economic and financial, and openness. A spatial diffusion model based on three diffusion sources in China's first-tier cities, Beijing, Shanghai, and Guangzhou, was constructed to describe the heterogeneous impacts of ITS on GTFP under the marketisation of diffusion sources. We found: (1) ITS based on exports and OFDI promote economic, imports and FDI are relatively small, independent technological innovation is the dominant source of economic growth. (2) Considering spatial diffusion, the contribution of Beijing's ITS is relatively weak, and Shanghai's contribution is stronger. Coastal areas have the largest marginal effect of ITS on GTFP, and ITS do not attenuate as geographic distances increase. (3) The market has a multiplier effect, modifying the relationship between ITS and GTFP. [ABSTRACT FROM AUTHOR]