This study aims to address the existing gap in the literature regarding the financial impact of green bond issuance on corporate performance, particularly focusing on key financial metrics such as return on assets and return on equity. While green bonds have gained significant traction in China, which became the world's largest issuer of green bonds in 2023, there is still considerable uncertainty about whether firms experience tangible financial benefits, especially in terms of profitability, from issuing these bonds. Existing research offers mixed evidence, with some studies showing positive effects and others showing no significant impact on firm performance. To fill this gap, this study investigates the relationship between green bond issuance and firm financial performance, using Propensity Score Matching and Difference-in-Differences methodology. The research analyzes Chinese firms that issue conventional and green bonds during the period from 2016 to 2019, aiming to assist corporate management, investors, and policymakers in better understanding the financial implications of green bond issuance, thus contributing to more informed decision-making.