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With the acceleration of industrialization, the pressure on resources and environment is increasing, and the problems of resource shortage and environmental pollution are becoming increasingly prominent. As the micro main body of modern economic society, manufacturing enterprises not only provide rich products to the society, but also consume a lot of energy and resources. Industrial plants are important sources of air pollution. The quantity of hazardous gases released into the atmosphere by companies exacerbates adverse effects on human health. Harmful chemicals and pollutants, such as co2 and methane, are burnt then released into the environment in industries. Once untreated waste water, waste gas and waste residue are discharged, they will cause serious damage to the environment. The deterioration of waterbodies is caused by the reliability of industrial effluent, with the consequences being the variance of numerous pathogens, lowered layers of oxygen concentration, structural development to water sources, hazardous material discharge, bioavailability or biomagnified in sea species, but also enhance soil tonnes. Therefore, how manufacturing enterprises face up to the severe challenges brought by environmental problems and actively practice the green growth mode is not only related to their own survival and development, but also has a profound impact on economic development, social progress and people’s well-being.
Manufacturing enterprises take the road of green growth, emphasizing that their “growth” must meet the “green” requirements, that is to meet the requirements of environmental protection, energy conservation and sustainable development. The notion of environmental protection is influenced by three main components such as, accompanying economic progress, environmental conservation and preservation, and support for the enhancement of social and democratic values. Therefore, we need to completely abandon the traditional extensive growth mode of “high investment, high consumption, multi pollution and low efficiency” and accelerate the realization of green transformation and upgrading, and strive to become an environment-friendly enterprise. However, the green investment is required to assist the sustainable modernization of industrial firms. So, what is the relationship between green investment and enterprise growth? Understanding this problem is of great value to identify the key factors affecting the growth of manufacturing enterprises, and in turn provide reference frame for manufacturing enterprises to optimize investment decisions. At the same time, it can also lay a foundation for further study of the mechanism of these key factors.