Digital Inclusive Finance and the Modernization of High-Tech Manufacturing Industry Chain

Abstract

Abstract: Improving the modernization level of China's high-tech manufacturing industry chain is an urgent need to accelerate the construction of modern industrial system. The research results of systematically examining the effects and mechanisms of digital inclusive finance on the modernization of the high-tech manufacturing industry chain indicate that digital inclusive finance can significantly improve the modernization level of the high-tech manufacturing industry chain. The mechanism test has found that digital inclusive finance indirectly promotes the modernization of the high-tech manufacturing industry chain through industrial structure upgrading, technology market development, and consumption demand stimulation. The heterogeneity test results show that the promoting effect of digital inclusive finance is more pronounced in enterprises located in the eastern region and regions with lower financial regulatory intensity. In addition, digital inclusive finance has not only significant spatial spillover effects and nonlinear impacts on the modernization of the high-tech manufacturing industry chain, but also can promote the development of new quality productivity. Therefore, it is necessary to improve the service mechanism of digital inclusive finance, promote the coordinated development of regional digital inclusive finance, and provide comprehensive financial support for the modernization of the high-tech manufacturing industry chain.

Key words: modernization of industrial chain, digital inclusive finance, high tech manufacturing industry, industrial structure, new quality productive forces

CLC Number:

F832
F49

Cheng Zu-song, Dai Lu, Rong Chen. Digital Inclusive Finance and the Modernization of High-Tech Manufacturing Industry Chain[J]. Contemporary Finance & Economics, 2026, 0(1): 100-113.

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