<p>This study examines the nexus between green entrepreneurship (GE) and green industrial transformation (IGT) in industries in China between 1991 and 2020 by using a non-linear autoregressive distribution lag (NARDL) model while controlling for trade, talent reserve, and financial development which are potential factors affecting industrial transformation. The study goes on to check whether the effects of GE on IGT are symmetric or asymmetric in China, where industrial pollution in the form of greenhouse gas emissions and solid waste was among the highest in the world prior to the introduction of the Environmental Protection Law in 2016. Our results affirm a positive relationship between green entrepreneurship and green industrial transformation. Evidently, it was found that there is an asymmetric relationship in the short term and to a lesser extent in the long term. Furthermore, the findings show that financial development and trade have a positive impact and contribute significantly to green industrial transformation for green development and environmental excellence in both the long and short term. Therefore, in order to support China’s ambitious goals of a low-carbon and eventually carbon–neutral industry, entrepreneurial activity support is needed in the development of clean and green technologies to be implemented to promote industrial eco-innovation.</p>