Results of digital economy index for 30 provinces from 2015 to 2021.

Results of digital economy index for 30 provinces from 2015 to 2021.</p

Spatial pattern distribution of the average CCD of provinces from 2015 to 2021.

Spatial pattern distribution of the average CCD of provinces from 2015 to 2021.</p

Results of green finance index for 30 provinces from 2015 to 2021.

Results of green finance index for 30 provinces from 2015 to 2021.</p

Descriptive statistics of green finance index for 30 provinces from 2015 to 2021.

Descriptive statistics of green finance index for 30 provinces from 2015 to 2021.</p

Analytical process.

The convergence of China’s digital economy and green finance holds great significance for fostering a sustainable and high-quality developmental path. However, existing studies have not explored the coupling coordination development between these two crucial subsystems. To bridge this gap, this paper employs a modified coupling coordination degree (CCD) model to assess and affirm the coupling coordination degree between the digital economy and green finance across 30 provinces in China from 2015–2021. Based on degree results, provinces are classified into three clusters by using K-means and hierarchical clustering algorithm. Our findings unveil that the current level of coupling coordination development in China is at a primary coordination stage. Although regional disparities significantly exist, the overall level of coordination remains steadily increasing, with the eastern region outperforming the western region. Additionally, we determine that the COVID-19 pandemic’s disruption on the coupling coordination development of these systems has been limited. This research sheds light on the evolution of coupling systems and offers practical recommendations for strengthening the coordinated development of the digital economy and green finance.</div

Descriptive statistics of coupling coordination degree for 30 provinces from 2015–2021.

Descriptive statistics of coupling coordination degree for 30 provinces from 2015–2021.</p

Descriptive statistics of digital economy index for 30 provinces from 2015–2021.

Descriptive statistics of digital economy index for 30 provinces from 2015–2021.</p

Results of coupling coordination degree for 30 provinces from 2015–2021.

Results of coupling coordination degree for 30 provinces from 2015–2021.</p

Silhouette analysis for K-Means clustering on 30 provinces with n_clusters = 3,4,5.

Silhouette analysis for K-Means clustering on 30 provinces with n_clusters = 3,4,5.</p

Hierarchical clustering results of 30 provinces.

The convergence of China’s digital economy and green finance holds great significance for fostering a sustainable and high-quality developmental path. However, existing studies have not explored the coupling coordination development between these two crucial subsystems. To bridge this gap, this paper employs a modified coupling coordination degree (CCD) model to assess and affirm the coupling coordination degree between the digital economy and green finance across 30 provinces in China from 2015–2021. Based on degree results, provinces are classified into three clusters by using K-means and hierarchical clustering algorithm. Our findings unveil that the current level of coupling coordination development in China is at a primary coordination stage. Although regional disparities significantly exist, the overall level of coordination remains steadily increasing, with the eastern region outperforming the western region. Additionally, we determine that the COVID-19 pandemic’s disruption on the coupling coordination development of these systems has been limited. This research sheds light on the evolution of coupling systems and offers practical recommendations for strengthening the coordinated development of the digital economy and green finance.</div