| Variable name | Variable definition | Symbol | Unit |
Explained variable | SBM efficiency | Data envelopment method | SBM | - |
Explanatory variable | Green Finance Composite Index | Entropy weight method | Green | - |
Control variable | Level of opening up | Total import and export trade/GDP | C1 | - |
| Proportion of talents in higher education | Number of college students/ Number of students enrolled | C2 | - |
| Per capita GDP | Real GDP per capita, logarithm | C3 | - |
| Investment in fixed assets | The actual value of investment in fixed assets, logarithm | C4 | - |