Effects of Regional Innovation Capability on the Green Technology Efficiency of China's Manufacturing Industry: Evidence from Listed Companies

The purpose of the "Made in China 2025" strategy is to enhance the innovation capabilities of the local manufacturing industry and achieve green and sustainable development. The role of innovation in the development of manufacturing is a hotspot in academic research, though only a few studies have analyzed the interaction between green technology manufacturing efficiency and its external innovation capabilities. This study used the 2011-2017 Chinese A-share listed manufacturing companies as samples to discuss whether regional innovation capabilities can promote the improvement of green technology manufacturing efficiency. The results showed that a significant spatial correlation between regional innovation capability and green technology manufacturing efficiency was prevalent within spatial heterogeneous bounds. In addition, regional innovation capability directly promoted the effective manufacturing of green technology efficiency, which was strongest in the eastern region of the country. Regional innovation capabilities also had a positive effect on human capital and government revenue, thereby further enhancing the green technology efficiency of manufacturing through the intermediary effect. Based on the above conclusions, some policy recommendations are put forward to facilitate the improvement of China's regional innovation capabilities in terms of green technology efficiency in manufacturing.