In the pursuit of sustainable economic development, the integration of financial technology—commonly known as fintech—with green innovation and productivity advancements presents a promising frontier. Recent empirical research into the Chinese market underscores how fintech acts as a powerful catalytic force in enhancing enterprises’ new-quality productivity (NQP), a comprehensive indicator that captures the nuanced dimensions of green economic progress in firms. By analyzing data spanning from 2011 to 2023 on Chinese listed companies, this groundbreaking study offers robust evidence and insights into the mechanisms through which fintech empowers firms to embrace green transformation, optimize allocation of financial resources, and stimulate both the quantity and quality of green innovation.
At the heart of the investigation lies the recognition that boosting enterprises’ NQP is indispensable for fostering green economic development, a priority aligned with global climate imperatives and national policy frameworks such as China’s “dual carbon” goals. Fintech emerges not just as a novel technological tool but as an enabling infrastructure that redefines traditional financial intermediation—improving transparency, accessibility, and efficiency in credit allocation. Crucially, fintech’s role transcends mere funding, encompassing regulatory oversight and facilitation of green credit funds that incentivize sustainable investment by enterprises.
The study meticulously unpacks the channels through which fintech catalyzes improvements in corporate NQP. Foremost among these is the optimization of credit fund pre-allocation. By leveraging sophisticated algorithms, big data analytics, and artificial intelligence, fintech platforms enable financial institutions to more accurately assess the green credentials of enterprises, streamline approval workflows, and allocate capital to projects with the highest environmental and productivity potential. This data-driven approach significantly mitigates information asymmetries and reduces financing constraints that have traditionally hindered green ventures.
Post-disbursement, fintech platforms exercise regulatory functions by using digital tools such as blockchain to enforce compliance with green loan agreements and monitor environmental performance. This ensures that capital earmarked for green projects is effectively utilized, enhancing the efficiency of green investments while simultaneously fostering corporate accountability. The post-credit phase becomes a dynamic feedback loop aiding enterprises to adjust and optimize their investments for maximal ecological and economic returns.
Green innovation, both in scale and quality, is another vital outcome associated with fintech empowerment. Companies enabled by fintech report an acceleration in the development and deployment of green technologies. The study highlights that fintech does not only increase the frequency of innovative activities but also elevates the quality standards of innovations. This dual impact contributes to a robust pipeline of greener products, processes, and services, thereby supporting enterprises in maintaining competitive advantage amid tightening environmental regulations and burgeoning sustainability demands.
Importantly, the research identifies significant heterogeneity in fintech’s impact, revealing that its catalytic potential is magnified in enterprises exhibiting strong ESG (Environmental, Social, Governance) performance. Firms whose executives possess environmental expertise or are strategically situated in regions with denser financial institution networks tend to harness fintech-enabled opportunities more effectively. This nuance sheds light on the crucial role of organizational capacity, regional economic ecosystems, and managerial expertise in magnifying fintech’s benefits.
From a policy perspective, the findings advocate for a multi-layered strategy spearheaded by robust government leadership and institutional coordination. Constructing a fintech ecosystem that is distinctively attuned to China’s developmental needs is elemental. This involves crafting an integrated legal and regulatory framework, bolstering infrastructures to dismantle informational barriers, and fostering data-sharing platforms that catalyze innovations in green finance. Aligning fintech development with ambitious national strategies like “Digital China” ensures that fintech is an integral pillar driving the nation’s green economic transition.
The government’s role extends to cultivating a social environment conducive to green transformation where policy tools are systematically leveraged to reduce barriers faced by enterprises. Financial incentives should be strategically deployed to mobilize financial institutions into tailormade service provision that addresses specific challenges in green resource allocation. For example, fintech-powered credit models must be refined using contextual artificial intelligence and big data to reflect the industrial realities facing Chinese firms, facilitating more precise risk assessment and credit evaluation.
Against this backdrop, financial institutions have a vital role to play. The study recommends that they leverage fintech technologies to streamline green credit processes, improve accessibility—especially in regions deficient in financial infrastructure—and extend support to green production activities within enterprises. By integrating fintech tools into their operations, lenders can reinvent themselves as enablers of sustainable transformation rather than mere financiers, thereby contributing to a greener industrial landscape.
At the enterprise level, the research underscores the imperative for firms to embed sustainability at the core of their strategic agendas. Recognizing green development as a national imperative and a competitive battleground for international markets, firms should enhance their environmental and social governance disclosures, capitalize on policy incentives tied to green performance, and rigorously earmark funds for environmental innovation. Leveraging fintech platforms, such as green project databases and digital ESG assessment tools, empowers firms to mitigate transition risks, refine green project evaluation, and improve internal governance.
A particularly powerful insight from the study concerns the talent dimension within enterprises. Enterprises that actively recruit and develop executives with green technology or environmental management experience are better positioned to translate fintech-enabled financial support into meaningful green innovation and productivity gains. This talent-centric governance augmentation reduces managerial agency costs and places enterprises at the forefront of global green technological competition.
In light of the observed variations in fintech’s impact across different corporate and regional contexts, the study calls for nuanced, differentiated fintech strategies. For companies lagging in ESG performance, the integration of regulatory technologies with incentive-aligned frameworks can accelerate their transformation journeys. Advanced digital environmental monitoring systems powered by blockchain can enforce real-time transparency, sanctions, and risk management, fostering accountability and incentivizing progress even for heavily polluting firms.
For companies where managers lack environmental experience, a synergistic talent-technology-governance framework is vital. Creating curated talent pools and linking them to broader skill development networks can cultivate a pipeline of green leaders essential for steering corporate strategies. Complementing this, fintech-driven governance reforms, such as digital ESG committees within enterprises, provide a digital scaffold for rigorously managing investment risks and sustainability criteria.
Regional disparities also present unique challenges and opportunities. In areas with sparse financial institution presence, deploying multi-dimensional financial infrastructure networks—comprising satellite-driven data systems, mobile financial services, and community banking innovations—provides a scalable solution. The use of satellite remote sensing and digital regulatory sandboxes offers pioneering pathways to alleviate financial information asymmetry and unlock capital flows to green ventures, ensuring no regions are left behind in the green fintech revolution.
Beyond China’s borders, this study’s conceptual and empirical contributions offer a replicable model for developing economies aspiring to sustainable economic modernization. Integrating fintech with green policies under national strategy frameworks enhances policy coherence and creates an enabling climate for green innovations. By institutionalizing cross-sectoral data-sharing mandates and harnessing digital infrastructures for full financial inclusion, economies can effectively democratize access to green finance, fostering an inclusive and resilient green industrial transformation.
While the study is comprehensive, it acknowledges certain limitations that present fertile ground for future investigation. The focus on listed companies limits the generalizability of findings to smaller firms and nonlisted enterprises, which constitute a significant portion of the economy. More granular research leveraging microdata could enhance understanding of how fintech influences NQP across diverse enterprise scales and types. Refining NQP measurement instruments to capture broader dimensions of high-quality economic development and green performance remains another critical frontier.
Furthermore, comparative studies spanning geographic and industrial heterogeneity could illuminate contextual factors that modulate fintech’s efficacy in boosting enterprise green productivity. Such insights would enable finely tuned policies and fintech applications that reflect local realities, ensuring maximal impact in varied economic environments. As the global emphasis on sustainable development intensifies, deepening multidisciplinary evidence on fintech’s role in this transformative agenda will be indispensable for policymakers, business leaders, and researchers alike.
In sum, this research decisively illustrates that fintech is far more than a technological disruptor—it is a strategic enabler of green transformation and new-quality productivity at the enterprise level. By weaving fintech seamlessly into national strategies, financial systems, and corporate governance frameworks, countries can unlock unprecedented synergies paving the way for resilient, green, and inclusive economic futures.
Article References:
Sun, Y., Wang, H., Zhu, C. et al. Fintech empowerment and the new-quality productivity of enterprises: empirical evidence from Chinese listed companies. Humanit Soc Sci Commun 12, 1808 (2025). https://doi.org/10.1057/s41599-025-06084-0
