Empowering carbon neutrality: Impact of the technology factor market on China's carbon emission intensity

Achieving carbon neutrality cannot do without necessary technological achievements, and technology factor market (TFM) is an important tool for the transformation of technological achievements. This study empirically examines the impact and mechanisms of TFM on carbon emission intensity by applying provincial panel data from 2010 to 2022. The result shows that TFM significantly reduces carbon emission intensity. Industrial structure effect and energy-saving effect are potential influencing mechanisms. Heterogeneity analysis shows that the emission reduction effect of TFM is more obvious in eastern region, economically developed areas, non-resource-based provinces and after 2015. Meanwhile, the institutional environment positively regulates the emission reduction effect of TFM. Specifically, the factor marketization, intellectual property protection, and government's emphasis on science and technology can enhance the emission reduction effect of TFM. These findings enrich the relevant research on technical support for carbon neutrality and provide certain policy inspirations.