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The green technology innovation system is a fundamental method for China to achieve its goals of carbon peak and carbon neutrality. Clarifying the relationship between two-way foreign direct investment (FDI) synergy and regional green technology innovation is key to the green transformation and sustainable development of regional innovation systems. Based on panel data from 30 provinces in China from 2009 to 2020, a threshold-panel-regression technique is used. Command-controlled environmental regulation (CER), market-incentive environmental regulation (MER), and public-participation environmental regulation (PER) are taken as threshold variables, and the threshold effect of two-way FDI synergy on regional green technology innovation under heterogeneous environmental regulation is empirically explored. The results show the following. (i) The effects of two-way FDI synergy on regional green technology innovation exhibit significant threshold characteristics with heterogeneous environmental regulation as a double threshold. (ii) As the threshold values of CER and PER increase, the promoting effect of two-way FDI synergy on regional green technology innovation first increases and then decreases. (iii) As the MER threshold value increases, the promoting effect of two-way FDI synergy on regional green technology innovation continues to increase. (iv) Under the medium-threshold condition of PER, the promoting effect of two-way FDI synergy reaches its greatest value. (v) The intensity of intellectual property protection, the number of regional innovation institutions, and the level of transportation infrastructure all have significant positive effects on regional green technology innovation, and the number of regional innovation institutions exhibits the greatest promoting effect. This study provides new insights into two-way FDI synergy and methods to promote green technology innovation, and these findings can help the government formulate future policies and strategies to promote regional green technology innovation. [ABSTRACT FROM AUTHOR]

A small-world simulation model of a regional innovation system combining the strength of the intersubject relationship of the regional innovation system with the loosely coupled system is constructed. We use a simulation to observe knowledge flow within the regional innovation system under relationships of varying strength. The results show that when the relationship between the subjects of the regional innovation system reaches a certain strength, the system will exhibit high module independence and high network integrity, forming a loosely coupled system. The knowledge flow in the system exhibits the emergence of a fast flow rate, a high mean value and little variance. When relationship strength is at other levels, the emergence of knowledge cannot be identified. [ABSTRACT FROM AUTHOR]