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<p>In recent years, the Chinese government has deployed a broad mix of policy instruments and fiscal incentives to stimulate technological innovation and accelerate the growth of strategic emerging industries. Targeted R&amp;D subsidies play a central role in strengthening firms’ investment incentives, facilitating technological upgrading, and enhancing sectoral competitiveness, while regulatory reforms and standardized frameworks contribute to improved compliance and long-term sustainability. This study examines the impact of government subsidies on innovation performance in the new energy generation sector, with particular attention to threshold effects. Using panel data from 37&#xa0;A-share listed firms (2018–2023), both linear and threshold regression models are applied to capture potential nonlinearities. The results reveal a significant positive association between subsidies and innovation outcomes, especially for technology- and development-oriented support, with estimated gains of 8–12%. Evidence of a significant threshold further indicates that subsidy effectiveness varies across intensity levels. These findings extend resource dependence theory, identify double thresholds in the subsidy–innovation nexus, and offer policy insights for optimizing support mechanisms in green transition contexts.</p>

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Public policy and innovation in green power: the chinese experience

  • 期刊论文

  • 发表日期：

    2026年6月25日

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  • Shun-Chi Yu

摘要

In recent years, the Chinese government has deployed a broad mix of policy instruments and fiscal incentives to stimulate technological innovation and accelerate the growth of strategic emerging industries. Targeted R&D subsidies play a central role in strengthening firms’ investment incentives, facilitating technological upgrading, and enhancing sectoral competitiveness, while regulatory reforms and standardized frameworks contribute to improved compliance and long-term sustainability. This study examines the impact of government subsidies on innovation performance in the new energy generation sector, with particular attention to threshold effects. Using panel data from 37 A-share listed firms (2018–2023), both linear and threshold regression models are applied to capture potential nonlinearities. The results reveal a significant positive association between subsidies and innovation outcomes, especially for technology- and development-oriented support, with estimated gains of 8–12%. Evidence of a significant threshold further indicates that subsidy effectiveness varies across intensity levels. These findings extend resource dependence theory, identify double thresholds in the subsidy–innovation nexus, and offer policy insights for optimizing support mechanisms in green transition contexts.