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Improving energy efficiency is vital for addressing climate change and reducing carbon emissions in emerging economies. Financial development (FD) is crucial for economic growth, and its environmental impact and the adjustment of the industrial structure (IND) is a crucial lever in China's economic transition period. This study explored the relationship between FD, IND, and China's green total factor productivity (GTFEE) from 2000 to 2020 using the super-efficiency SBM-undesirable model, which estimates China's GTFEE. The ARDL results suggest that FD and IND enhance GTFEE in the long term, with FD promoting GTFEE by facilitating industrial structure adjustments. The Dumitrescu–Hurlin panel causality tests supported this finding. The QRPD panel quantile regression and heterogeneity analysis revealed significant heterogeneity in the effects. With increasing GTFEE, FD exerts a restraining effect, gradually weakening and transitioning into a promoting effect, while the IND consistently plays a promoting role. [ABSTRACT FROM AUTHOR]

Ensuring the coordinated development of carbon emissions and green economy has important implications for China's sustainable development. For examining the coordinated development between carbon emissions and green economy in China and its influencing factors, this study assessed the coupling coordination degree (CCD) between carbon emission intensity (CEI) and green total factor productivity (GTFP) using the coupling coordination degree model (CCDM), revealed the spatiotemporal evolution law of CCD using a spatial correlation model and empirically examined their influencing factors using the spatial Durbin model (SDM) to test influencing factors. The following findings were made: (1) The green economy in China synchronously developed with carbon emission reductions from 2000 to 2020. (2) CCD has global spatial concentration effects, and the objects are divided into three categories: cold spots, hot spots, and random distributions. (3) Government scale expansion, transportation volume increase, industrial agglomeration, and urbanization are all not conducive to CCD, but population density and industrial structure upgrading have opposite effects. To promote the coordinated development of carbon emissions and green economy, we can improve the efficiency of energy utilization and reduce carbon emissions, by using clean energy, adopting clean production technology, increasing non-productive public investment in environmental protection, industrial agglomeration in reasonable space, and improving the moderate population agglomeration. Our findings offer valuable insight for understanding the relationship between carbon emission reduction and green economic development. They will allow authorities to take specific actions to ensure the coordinated development of CEI and GTFP. [ABSTRACT FROM AUTHOR]