Axial coding.

Green finance is closely related to sustainable energy development. Using the NVivo12plus software, a governance model of China’s green finance policy was constructed using 22 green finance policy texts at the central level as research objects. Furthermore, based on the csQCA method, Tosmana software was used to develop and verify a theoretical model of 19 policy text cases. The research results demonstrate that policy belief, policy objectives, policy tools, policy feedback, and policy cycle are the main components of China’s green finance policy governance. Furthermore, policy instruments are the fundamental factors affecting the governance effectiveness of China’s green finance policy. Policy goals and policy feedback dominate the influence pattern of green finance policy in China. There are three modes driving the influence of green finance policies: regulation-oriented, collaborative-driven, and tool-guided. Finally, for the optimization and improvement of green finance policies, three forces must be improved: stimulus force, driving force, and promotion force.