Abstract:In order to explore the impact of green credit on the carbon emission efficiency of manufacturing industry, this paper implemented an empirical study on the impact of green credit on the carbon emission efficiency of manufacturing industry in the Yangtze River Economic Belt. The study is based on the panel data of 11 provinces and cities along the Yangtze River Economic Belt from 2007 to 2019, and using the super efficiency SBM model to measure the carbon emission efficiency of manufacturing industry.The results show that the green credit has a positive impact on the carbon emission efficiency of manufacturing industry, and there is an intermediary effect of industrial environmental technology progress. The threshold effect test shows that when the level of environmental technology progress and the intensity of green credit are in different ranges, the impact of green credit on the carbon emission efficiency of manufacturing industry is different. Through the heterogeneity analysis, it is concluded that at the regional level, green credit in the downstream region can effectively promote the efficiency of carbon emissions in manufacturing, while the effect of green credit in the middle and upper reaches is not significant. At the industry level, there are differences in the impact of green credit on the carbon emission efficiency of the five high energy consuming manufacturing industries.In the end, this paper suggest that it is necessary to implement green credit according to local and industrial conditions, reasonably control the implementation intensity of green credit, actively promote the technological progress of manufacturing industry, and promote the efficient and green development of manufacturing industry.