New-quality productive forces are advanced productive forces that align with the new development philosophy; achieve rapid development through the optimal combination of factors such as labor, technology, and data; and exhibit characteristics of high technology, high quasiefficiency, and improvement in total factor productivity as their core hallmark. This paper uses 2,022 manufacturing companies listed on the Shanghai and Shenzhen stock exchanges from 2012--2023 as a sample to empirically test the impact, mechanism, and product high geneity of new quality development of manufacturing companies. The study shows that new quality productivity can significantly promote the high-quality development of manufacturing companies. Additionally, through its role in alleviating financing constraints and promoting supply chain diversification, it has a significant effect on large and private enterprises, as well as regions with high levels of income and a labor force, but has no significant effect on SMEs or regions with low labor force levels. It also has an inhibitory effect on state-owned enterprises and regions with low levels of informatization. This study provides practical reference for manufacturing enterprises to seize the development opportunities of new-quality productive forces and achieve high-quality development while also offering a scientific basis for governments to further optimize industrial policies and regional development environments.
Yu et al. (Sat,) studied this question.
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