The digital economy (DE) and real economy (RE) are dual pillars of the modern economic system. The deep integration of the digital economy and real economy (IDR) has emerged as a pivotal strategic trend. IDR not only can enhance international competitiveness but also contributes to sustainable development goals. This work collects DE and RE data from 30 provinces in China between 2012 and 2022. The entropy weight method and the coupling coordination degree (CCD) model are employed to measure the level of IDR. Furthermore, the Dagum Gini coefficient, Kernel density estimation, the spatial autocorrelation model, and the geographically and temporally weighted regression (GTWR) model are utilized to analyze the spatial–temporal evolution and influencing factors of CCD. The following conclusions are drawn: (1) During the study period, CCD shows an upward trend, but the value is relatively low. (2) There are significant spatial differences in CCD, and the inter-regional difference is the primary cause. (3) The regional differences in CCD are continuously widening. (4) CCD shows an obvious global spatial agglomeration feature, and the spatial agglomeration degree of CCD has been enhanced from 2012 to 2022. (5) The policy intensity, digital infrastructure, industrial structure, human capital, technological innovation, and market environment have significant impacts on CCD. The obtained findings provide important theoretical support for the coordinated development of DE and RE.

The water conservancy scenic spot is an important part of China’s water ecological civilization construction and is an important way to transform “clear water and green mountains” into “mountains of gold and silver”. The current development of the water conservancy scenic spot is limited by the conditions of capital, management, and technology. The PPP model, as a means of introducing these elements, is an effective way to realize the marketization, characterization, and high-quality development of water conservancy scenic spots. Due to the particularity and complexity of water conservancy scenic spots, the PPP model, and their combination, the risks in water conservancy scenic spot PPP projects are more complicated. Identification and assessment, as well as response, are necessary ways to reduce project risks. In this paper, the risk evaluation index system and the DEMATEL-ANP-FUZZY risk evaluation model of the water conservancy scenic spot PPP project are put forward and, then, the key risk factors, causal relationship between the factors, and risk level of the project are obtained in combination with case analysis. The results show that risks in construction and operation, as well as political and economic risks, are the key risk factors in the water conservancy scenic spot PPP project, and the natural, economic and political risk factors are the main causes of project risk. Risks in construction and operation, as well as organizational and social risks, are the main affected factors. Further analysis shows that the political and economic factors are the key points to focus on when attempting to reduce the project risk, and suggestions are provided, such as improving the legal and regulatory framework, establishing a reasonable risk-sharing and social capital withdrawal mechanism, unblocking social capital participation channels, and strengthening financial support. This could provide a reference for the risk management of water conservancy scenic spot PPP projects.