This study builds a market-focused resource-based view (RBV) framework on green product innovation (GPI) to examine the relationship between market responsiveness, GPI, product advantages, and new product performance, as well as the role of industry clockspeed. We adopt a partial least squares method to test these relationships using data from 325 Chinese manufacturing firms. The results show that market responsiveness positively affects GPI, and GPI can promote new product performance through enhancing product radicalness and meaningfulness. Besides, the mediating effect of product meaningfulness is stronger in high- than in low-clockspeed industries, while the mediating effect of product radicalness does not present a differentiated extent between high- and low-clockspeed industries. This study offers a market-focused RBV framework on GPI, illustrates the importance of responsiveness to market intelligence when implementing GPI, and highlights the necessity of investigating additional outcomes of GPI other than aggregated performance measures and comparing these effects among different industries.