Abstract: Enhancing the resilience and efficiency of the industrial chain and supply chain is an important issue for the high-quality development of the economy. Against the backdrop of the deepening of institutional opening-up, free trade pilot zones, as the core carriers for aligning with international high-standard trade and economic rules, urgently need to be tested for their impact on the supply chains of enterprises. Based on the data of A-share listed companies from 2010 to 2023, using a difference-in-differences model, this study systematically examines the reshaping effect of the policy of free trade pilot zones on enterprises’ supply chains. The findings show that this policy has significantly improved the turnover efficiency of enterprises’ supply chains, promoted the spatial concentration of domestic supply chains and the extension of international supply chains, and effectively enhanced the resilience of supply chains. The heterogeneity analysis shows that enterprises with cross-border experience and better digital foundation benefit more significantly. The mechanism testing reveals that trade facilitation, investment liberalization, and financial opening and innovation constitute the three transmission channels within the framework of institutional opening-up, which respectively drive supply chain transformation by reducing transaction costs, optimizing factor allocation, and alleviating financing constraints. Further analysis reveals that the level of digital economic development strengthens the policy effect, while the dynamic response ability of enterprises is the key to converting institutional advantages into supply chain efficiency. Therefore, a systematic and integrated policy system should be constructed, with precise empowerment, to strengthen digital-driven and regional collaboration, and continuously release the benefits of institutional opening-up.

Key words: institutional opening-up, Free Trade Pilot Zones, enterprise supply chain, supply chain resilience, digital transformation