Research on the Impact of New Urbanization on Industrial Transformation and Upgrading

Abstract

Based on the panel data of 285 prefecture-level cities in China from 2010 to 2020, the policy net effect of the new urbanization strategy on industrial transformation and upgrading is evaluated by using PSM-DID. The research results show that the new urbanization strategy has a significant and sustained positive effect on industrial transformation and upgrading. The mechanism test results show that the new urbanization strategy promotes the industrial transformation and upgrading by influencing the regional financial development.