Abstract: The panel data of 30 provinces, municipalities directly under the central government and autonomous regions in mainland China from 2006 to 2015 were selected to calculate green total factor productivity using DEA-BCC model and entropy method. Spatial durbin model was adopted to study the spatial spillover effect of financial development and environment on green total factor productivity. The results show that:(1)there is a significant spatial spillover effect of green total factor productivity in Chinese provinces. (2)single financial development and environmental regulation can promote green total factor productivity to some extent;(3)at the present stage, the mode of "financial development and environmental regulation" combined inhibits green total factor productivity. Therefore, it is necessary to deepen the reform of financial system and optimize the effect of financial development. Improve the environmental regulation system and make reasonable investment in pollution control; Formulate appropriate environmental regulation policies and consider financial development.

Key words: financial development, environmental regulation, green total factor productivity, spatial durbin model