Abstract: Strengthening government goal guidance and promoting corporate digital technology innovation are important pathways for building a digital China and achieving high-quality economic development. Based on the data from A-share listed companies in China between 2017 and 2023, this paper empirically examines the impact and the underlying mechanisms of government digital economy development goals on corporate digital technology innovation. The results show that government digital economy development goals have a significant impact on corporate digital technology innovation. This effect is achieved mainly through several mechanisms, including increasing the supply of policy-related resources, releasing positive signals regarding digital development, and improving digital infrastructure construction. The heterogeneity analysis reveals that the micro-level innovation effect of government digital economy development goals is more pronounced among the private firms with stronger willingness to respond to government goals, the firms with greater financing restrictions, and the firms that have not yet received government procurement contracts. Meanwhile, firms with scale advantages, operating in high-tech industries, and possessing higher levels of corporate governance are more capable of engaging in digital technology innovation by responding to government digital economy development goals. The analysis of the economic consequences shows that, by promoting corporate digital technology innovation, government digital economy development goals can not only facilitate firms’ digital transformation but also contribute to their high-quality development. Based on this, the government should formulate systematic goals for the development of the digital economy, focus on classification guidance and precise policy implementation, increase the supply of policy resources, optimize the innovation environment, upgrade digital infrastructure, and provide strong support for enterprise digital technology innovation.

Key words: government digital economy development goals, digital technology innovation, policy-related resource, digital development signal, digital infrastructure