Technological innovation and high-quality economic development are inevitable requirements of sustainable development, and the digital economy has gradually become a new engine to enhance technological innovation and the high-quality development of China’s economy. Deeply discussing the effect of digital economy on high-quality economic development and clarifying the mechanism behind it can effectively grant the boosting power of digital economy to China’s high-quality development, which is of great practical significance to China’s sustainable economic development. In this study, the mechanism, effect, and regional heterogeneity of the impact of the digital economy on the level of high-quality economic development in 30 Chinese provinces from 2011–2019 were measured and empirically tested using a mediating effects model and a spatial Durbin model, among others. The results showed that the overall level of digital economy and high-quality development is not high, and there were both high agglomeration and low agglomeration, with obvious spatial path dependence and spatial lock-in. Digital economy could promote the high-quality development level of the economy, and the spatial spillover effect was remarkable. In addition, the function of digital economy in promoting high-quality economic development in the eastern, central, and western regions was gradually weakened. Besides, the technological innovation was an important transmission path of digital economy to high-quality economic development. Based on these findings, it is proposed that decision-makers should strengthen digitalization efforts so that the digital economy can become a powerful tool to narrow the digital divide. Further, the dynamic and differentiated digital economy development strategy should be implemented to reduce regional development imbalances in an effective manner.

China is currently in a strategic opportunity period for green and high-quality development, and developing the digital economy is an important choice to achieve environmental pollution control, improve regional ecological efficiency, and enhance social welfare. In this context, the impact of the digital economy on ecological well-being performance and the role of environmental regulation need to be examined. In this study, the super-efficiency SBM-DEA model was used to measure the level of ecological well-being performance in 30 provinces of China from 2011 to 2019. On this basis, the mediating effect model and spatial Durbin model were adopted to explore the transmission mechanism and regional heterogeneity of the impact of the digital economy on ecological well-being performance. The empirical results show that the digital economy significantly contributes to regional ecological well-being performance in China, and there is significant spatial spillover as well. Moreover, the findings still hold under robustness tests. The results also show that environmental regulation is an important transmission path for the digital economy to enhance regional ecological well-being performance, and the impact of environmental regulation on ecological well-being performance varies by region; specifically, the impact in eastern China is positive but not significant. However, the digital economy plays a significant positive role in promoting ecological well-being performance in the central and western regions, and is more obvious in the central region. Finally, suggestions are put forward to enhance the role of the digital economy in regional ecological well-being performance, which is of great significance for promoting green economic growth and high-quality development.

China’s rapid industrialization and urbanization have led to ecological and environmental problems, particularly air pollution. Digitalization has become a key component in high-quality development to overcome the previous high-energy and high-pollution development model. However, a certain degree of “green blindness” exists in the digital development process, and the impact on air pollution is not always positive. Therefore, the impact of the digital economy on air pollution is worth exploring. In this study, the authors examines the emissions increase and reduction effect mechanisms of the digital economy on air pollution using panel data in 30 provinces in China from 2011 to 2020. The two-tier stochastic frontier model showed that the interaction between the emissions increase effect and emissions reduction effect of the digital economy reduced the actual air pollution emissions level below the frontier level by 0.15%, on average. Overall air pollution level is characterized prominently by emission reduction, owing to the asymmetric bilateral effect of the digital economy. Second, the time trend characteristics of the net effect of the digital economy on air pollution emissions showed a wave-like change; the average values of the net effect in the three major regions (i.e., the east, central, and west) were all negative. Third, along with the development of digital economy, human capital levels, and general economic levels, the emissions reduction effect of the digital economy on air pollution has strengthened, such that the net effect became positive to negative. However, significant heterogeneous characteristics were noted in the effects of the digital economy on air pollution under different levels of digital economy development, human capital, and economic development. This study provides practical paths for air pollution management, strengthening inter-regional environmental synergy management and high-quality economic development.

Digital finance enhances corporate ESG performance and is essential for achieving sustainable development; however, its consistent effectiveness in improving ESG outcomes remains contested. Using panel data from A-share listed companies on the Shanghai and Shenzhen stock exchanges in China from 2011 to 2021, this study empirically examines nonlinear effects, transmission mechanisms, and moderating factors. The results indicate a U-shaped relationship between digital finance and ESG performance, with a positive impact becoming apparent when digital finance exceeds the threshold of 3.81. Mechanism tests reveal that green technological innovation and public environmental attention are crucial transmission channels for the nonlinear effects. Furthermore, financial regulation levels and environmental uncertainty negatively moderate this relationship, while corporate digital transformation has a positive moderating effect. Further analysis shows that the U-shaped relationship is more pronounced in areas with lesser financial advancement and higher levels of environmental regulation, as well as in non-high-tech industries, non-manufacturing sectors, smaller firms, and companies without political connections. This study provides empirical evidence and policy insights to support the promotion of financial services that better facilitate corporate sustainability.

Understanding the substitution effect and creation effect of digital transformation on the manufacturing industry is crucial to safeguarding employment stability and advancing manufacturing sophistication in China’s contemporary context. In this study, a bilateral stochastic frontier model is used to examine the aforementioned effects drawing on provincial panel data of China spanning 2011 to 2020. The study reveals that: Firstly, the substitution effect of digital economy development on manufacturing employment outweighs the creation effect, culminating in a 7.80% decrease below the frontier benchmark, contrasted by a 4.15% increase attributed to the creation effect. The two effects possess an inverse relationship, collectively inducing a 3.66% decline in manufacturing employment as compared to the frontier. Secondly, the prevailing influence of the digital economy upon manufacturing employment is predominantly characterized by the substitution effect. However, projected medium to long term trajectories intimate a diminishing potency of this substitution effect and the creation effect will become more pronounced. Thirdly, in terms of geographical areas, the weakening of the employment-substitution effect due to the digital economy is most evident in the central region, followed by the western, and then the eastern regions. Conclusively, the impact of the digital economy on manufacturing employment exhibits variances contingent upon distinct economic maturation and disparate human capital stratification.