Scientific and technological innovation is the driving force of green development and the direct manifestation of the "technological effect" of foreign investment, which largely determines the quality of foreign investment in China.Although the effective exertion of the green innovation effect of foreign investment is significant to the optimization of China's foreign investment structure, the green transformation of the economy, and the realization of the goals of carbon peaking and carbon neutrality, some studies have found that foreign investment not only has a negative impact on the innovation level of Chinese enterprises, but also has a negative impact on the efficiency of green innovation, thus making it possible for foreign investment to "crowd-out" green innovation.Meanwhile, in recent years, with a complete industrial system and an increasingly independent innovation system, China has vigorously promoted green transformation and development,and accumulated internationally leading key advantages in important green innovation fields such as new energy, making it increasingly difficult for foreign investment to play a relatively prominent role in green innovation in China.#br#In view of this, this article uses the sample data of listed companies in China to thoroughly examine the impact of foreign investment on green innovation and its internal mechanisms, in the hope of supplementing the important research topic of foreign technology innovation and green development.It uses the linear regression model,absorbing multiple levels of fixed effects,to estimate and test the basic regression results, and introduces other regression methods for supplementation and comparison in the subsequent robustness testing section, fully ensuring the effectiveness of the research conclusions of the study.The empirical testing has found that the proportion of Chinese and foreign capital among the top ten shareholders has no significant impact on enterprise green innovation, while the proportion of foreign capital in total equity has a reducing effect on enterprise green innovation.From the perspective of internal mechanisms, the proportion of foreign investment in total equity is mainly reduced by suppressing enterprise innovation investment, including R&D personnel and R&D funds, to reduce the level of green innovation represented by patents.In addition, supported by the advanced industrial and technological systems represented by the eastern region, China has accumulated significant achievements in the fields of new energy, energy conservation, transportation, and other fields, gradually establishing an internationally leading advantage and position.At the same time, it has also raised the threshold for foreign investment in green innovation, increasing the difficulty for foreign investment to further enhance the level of green innovation of enterprises.#br#The possible innovations of this article are as follows.On the one hand, a systematic study has been conducted on the correlation between foreign investment and green innovation at the microenterprise level, making up for the shortcomings of existing research objects that remain at the macroeconomic level, such as regions and industries.On the other hand, this article creatively discovers that there is not only a significant positive correlation, but also a negative correlation between foreign investment and the level of green innovation, providing a new reference and a way of thinking for the effective utilization of the technological and environmental effects of foreign investment in China.#br#The research conclusion of this article indicates that at present, efforts should be made to continue to consolidate the foundation of China's green economy, improve the foreign investment introduction mechanism in key industries, and build a green innovation system with complementary domestic and foreign investment linkage based on the current situation and advantages of China's green and low-carbon technology.Meanwhile, it is essential to further control the substitution effect of foreign capital on green innovation of enterprises, encourage enterprises to effectively undertake and utilize the technology spillover effect of foreign capital, strengthen the level of technology introduction, absorption, and transformation, actively increase innovation investment, promote technological transformation, and create favorable conditions for maximizing the coordination and utilization of the green innovation advantages of domestic and foreign capital.#br#