Impact of the Marketization of Industrial Land Transfer on Regional Carbon Emission Intensity: Evidence from China

With the implementation of deep-market-oriented reforms in China, an accurate interpretation of the effect and transmission mechanism of the marketization of industrial land transfer on carbon emission reduction can provide references for further elevating the role of land policy in China's low-carbon economic transition. Based on the balanced panel data of China's provincial level from 2009 to 2020, this paper uses carbon emission intensity to quantify emission reduction targets, and studies the effects of the marketization of industrial land transfer on regional carbon emission intensity, as well as its internal mechanism, by describing the typical characteristics. Moreover, this paper analyzes the moderating role of environmental governance and conducts area heterogeneity analysis. The main results show that (1) the marketization of industrial land transfer can significantly reduce regional carbon emission intensity, and the negative effect is stronger in the mid-west compared with the effect in the east. (2) Environmental governance can play a positive moderating role in the relationship between the marketization of industrial land transfer and the carbon emission intensity. (3) Industry selection is the internal mechanism by which the effect of the marketization of industrial land transfer on regional carbon emission intensity operates, and the mechanism is represented more prominently in the mid-west. The main conclusions provide inspiration for land policy regulation in relation to carbon emission reduction. China's local governments should implement specific strategies to improve the market-based operation mechanism of land, attracting industries with high energy efficiency and low carbon emissions, and strengthening the intensity of environmental governance.