科技创新发展战略研究2026，Vol.10Issue(4)：31-45,15.
数字金融、新质生产力与中国外商投资的关系
Relationship Among Digital Finance,New Quality Productive Forces,and China's Foreign Investment
摘要
Abstract
Digital finance provides innovative and diversified financial support for foreign investment,while the enhancement of new quality productive forces has emerged as a new driver attracting foreign investment.Against the backdrop of the deep integration of the digital economy and the real economy in promoting high-quality economic development,this paper employs panel data from 31 regions in China over the period 2011-2023.It investigates the formation mechanism through which digital finance influences foreign investment,with new quality productive forces as the core lens.From a regional heterogeneity perspective,the full sample is divided into eastern and central-western regions to empirically examine the impact of digital finance on foreign-invested enterprises' investment and its heterogeneity.The results indicate that digital finance exerts a significant positive effect on foreign investment,while compared with the eastern region,this positive effect is stronger in the central-western regions;besides,digital finance promotes foreign investment by enhancing new quality productive forces,with this mediating role also exhibiting notable regional heterogeneity;specifically,in central-western provinces with higher levels of outward investment,the impact of digital finance on foreign investment is amplified,conversely,in eastern provinces with higher outward investment,the effect of digital finance on foreign investment is attenuated.These findings suggest that sustained efforts should be made to advance digital financial infrastructure,including digital credit reporting systems,digital services,and digital assets,at the same time,greater investment in digital financial technology is needed,alongside accelerated digital transformation of financial institutions,to further leverage digital finance in attracting high-quality foreign investment and supporting the development of new quality productive forces.关键词
数字金融/新质生产力/外商投资/金融支持/区域异质性Key words
digital finance/new quality productive forces/foreign investment/financial support/regional heterogeneity分类
管理科学引用本文复制引用
李洪亚,朱骏杰,沈冯霄..数字金融、新质生产力与中国外商投资的关系[J].科技创新发展战略研究,2026,10(4):31-45,15.基金项目
宁波大学人文社会科学专项项目"OFDI技术寻求动机影响中国跨国企业加成率的机制理论与实证研究"(XPYQ21007) （XPYQ21007）
