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The mechanism of FinTech in leveraging enterprise transformation and enhancing long-term competitiveness

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  • Liu, Yi
  • Zhu, Yan
  • Ma, Xiaoyun

Abstract

This study examines the mechanism through which financial technology (FinTech) development influences enterprise transformation and long-term competitiveness enhancement, with a particular focus on the mediating role of corporate digital transformation. We conceptualize long-term competitiveness as being fundamentally driven by new quality productive forces (NQP)—an advanced state of productivity characterized by innovation-led growth, efficient resource allocation, and sustainable development. Based on panel data from Chinese A-share listed companies spanning 2015 to 2023, the findings indicate that FinTech significantly contributes to the enhancement of NQP. This effect is especially pronounced in non-state-owned enterprises, non-regulated industries, and firms located in eastern and western regions. Furthermore, corporate digital transformation serves as a crucial mediating channel, suggesting that FinTech fosters NQP and competitive advantage by enabling comprehensive digital upgrades in corporate operations, innovation processes, and management systems. The results underscore the strategic importance of integrating FinTech with enterprise digitalization to facilitate sustainable transformation and strengthen long-term competitiveness in the digital economy era.

Suggested Citation

  • Liu, Yi & Zhu, Yan & Ma, Xiaoyun, 2026. "The mechanism of FinTech in leveraging enterprise transformation and enhancing long-term competitiveness," Economic Analysis and Policy, Elsevier, vol. 92(C), pages 275-288.
    • Handle: RePEc:eee:ecanpo:v:92:y:2026:i:c:p:275-288
    DOI: 10.1016/j.eap.2026.06.006
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