Digital Technology Innovation Empowers Green Transformation and Upgrading of Manufacturing Industry

Abstract

The manufacturing industry is the backbone of the national economy and one of the major sources of energy consumption and environmental pollution. In the face of the dual challenges of intensifying global warming and increasing scarcity of natural resources, accelerating the green transformation of the manufacturing industry has become a key breakthrough in the implementation of sustainable development strategies. This paper finds that digital technology innovation can effectively promote the green transformation and upgrading of the manufacturing industry, and this result remains robust after a series of robustness tests and endogeneity treatment. Digital technological innovation can reduce transaction costs, enhance human capital and alleviate information asymmetry to a certain extent, and then promote the green transformation and upgrading of the manufacturing industry. Based on the above findings, this paper obtains the following countermeasure suggestions: (1) Strengthen financial support. (2) Formulate policies according to local conditions. (3) Promote cooperation among industries, universities and research institutes.