How does green transformation of China’s manufacturing industry drive high-quality economic development? Evidence from Green Industrial Park

As China’s economy transitions towards high-quality development, the green transformation of manufacturing is crucial for enhancing economic development quality. Green Industrial Parks (GIPs), an effective practice of green manufacturing, have garnered extensive attention. However, the contribution of GIPs to high-quality development and the underlying mechanisms remain underexplored. Therefore, this study examines the contribution of GIPs to promoting high-quality development from the perspective of the “New Development Philosophy”. Furthermore, the study investigates the moderating factors influencing the economic benefits of GIPs. The findings indicate that GIPs significantly enhance urban economic development quality, particularly in innovative development and shared development. However, the effect of GIPs on regional coordinated development is limited, and the impact of GIPs on green development and open development is multifaceted. Moderating effect analysis reveals that stringent environmental regulation may attenuate the economic contributions of GIPs, while digital development and financial resources positively influence the economic performance of GIPs. GIPs located in eastern region and the Yangtze River Economic Belt demonstrate a stronger capacity to enhance economic development. A positive correlation exists between the number of GIPs and economic development quality. Additionally, the transformation of national-level development zones into GIPs exerts a more substantial positive impact on economic development compared to provincial-level zones. This study provides theoretical evidence contributing to a broader understanding of green manufacturing’s role in improving economic quality.