At present, China, as the world’s largest developing country and the second largest economic entity, is actively promoting transformational development and participating in global governance, focusing on the leadership of concept. Xi Jinping comprehensively discussed the new development concept, including innovation, coordination, green, openness, and sharing, at the Fifth Plenary Session of the 18th CPC Central Committee. The new development concept is leading the transformation and development of China’s economy and society and high-quality development. Innovation is the primary driving force for development. Coordination is the inherent requirement of sustainable and healthy development. Green is the prerequisite for sustainable development and the significant manifestation of people’s pursuit of better life. Openness is the inevitable choice of the country to prosper and develop. Sharing is the essential requirement of socialism with Chinese characteristics. The whole country is utilizing the new development concept to guide the whole process of building a well-off society and accelerating socialist modernization. Thus, it is particularly important to evaluate the implementation of the new development concept. This is an issue of both theoretical and practical significance. However, few scholars have done research on it. Based on the summary of relevant theoretical literatures, this paper puts forward the theoretical hypothesis that green innovation of High-tech industry affects the FDI region distribution, and then uses the Frontier method to measure China’s provincial green innovation efficiency, and finally conducts empirical tests. Specifically, green innovation efficiency can be regarded as a key indicator to measure the implementation of the new development concept. Firstly, we use the three-stage DEA method and the DEA-BCC model to measure the green innovation efficiency of High-tech industry of the 28 provinces (except Tibet, Xinjiang and Qinghai) in China from 2006 to 2015. And then we conduct empirical analysis of its impact on FDI location selection based on the provincial level and regional level. The study found that: (1) The green innovation efficiency of High-tech industry is not high for the present, and it is significantly higher in the eastern region than in the western region; (2) The green innovation efficiency of High-tech industry has a negative ″crowding out effect″ on FDI at the national level and in the central and western region, but has a positive ″pull effect″ on FDI in the eastern region; (3) Strengthening the intensity of environmental regulation and improving the green innovation efficiency of High-tech industry at the same time can attract more FDI. The ″combination effect″ of environmental efficiency and innovation efficiency is obvious, which indicates that environmental regulation and green development cannot implement a simple policy of ″Close, Stop, Merge, Change″. Instead technological innovation and innovation development should be considered simultaneously. Compared with the existing literature, this paper has three marginal contributions. Firstly, it takes both technological innovation and environmental quality of economic development into consideration, and uses the DEA-BBC model and the three-stage method to measure the green innovation efficiency of China’s high-tech industry for the first time. Secondly, it considers the green innovation efficiency and FDI regional distribution in the opening up, and empirically tests the differential impact of the green innovation efficiency of high-tech industries at the provincial level on the distribution of FDI and at the national and regional levels from 2006 to 2015. Thirdly, the research conclusion provides important reference for Chinese government to better implement the new development concept at the current stage, that is paying attention to the green innovation efficiency, thoroughly transforming development ideas and accelerating the improvement of viability while continuously improving the level of opening up.