Abstract: The“inter-provincial online service”for government affairs can connect inter-provincial administrative service chains, enabling cross-provincial handling of public services. Meanwhile, corporate cross-regional investment can facilitate capital flows between regions. Using the data from A-share listed companies in Shanghai and Shenzhen stock exchanges from 2016 to 2023, this study examines the impact of“inter-provincial online service”on capital cross-regional flows. The findings reveal that“inter-provincial online service”significantly promotes corporate cross-regional investment, with investment directions primarily from economically developed regions to underdeveloped ones, and from central cities to peripheral cities. The capital flow facilitated by the“inter-provincial access”in government services has promoted industrial structure upgrading and economic growth in the receiving regions. The mechanism analysis reveals that the“inter-provincial access”in government services enhances cross-regional corporate investment by improving government service efficiency, increasing corporate satisfaction and trust in the government, and reducing institutional transaction costs. The heterogeneity analysis indicates that the“inter-provincial access”in government services has a more pronounced effect on cross-regional investment for non-state-owned enterprises, firms in highly competitive industries, and small-scale enterprises. Therefore, it is essential to further deepen the reform of“inter-provincial access”in government services, streamline the process, and reduce processing times.

Key words: inter-provincial government services, cross-regional investment, regional coordinated development, unified national market