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Does Digital Inclusive Finance Increase Industry Chain Resilience in China?

Author

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  • Liming Hu

    (School of Business, Hunan University of Science and Technology, Xiangtan 411201, China
    Research Center for Regional High-Quality Development, Hunan University of Science and Technology, Xiangtan 411201, China)

  • Fulian Chen

    (School of Business, Hunan University of Science and Technology, Xiangtan 411201, China)

  • Ruixia Zhao

    (School of Business, Hunan University of Science and Technology, Xiangtan 411201, China)

Abstract

A high level of industry chain resilience is essential for China’s economy to operate safely, soundly, and robustly. It also serves as the foundation for the nation’s capacity for growth, competitiveness, sustainable development capacity, and ability to respond to various external dangers. In this regard, the swift advancement of digital inclusive finance has shown significant prospects for enhancing the resilience of China’s industry chain. This study empirically examines the impact of digital inclusive finance on industry chain resilience, based on China’s provincial panel data from 2013 to 2021. The findings demonstrate the following: digital inclusive finance significantly contributes to industry chain resilience; optimization of industrial structure and technological innovation play mediating roles in the relationship between digital inclusive finance and industry chain resilience; and the high-quality development of the regional economy has a positive moderating effect on that relationship. Subsequent investigation reveals quantile and regional variations in the effect of digital inclusive finance on industry chain resilience. This study not only confirms the critical role that digital inclusive finance plays in bolstering industry chain resilience but also identifies a workable strategy for doing so in the case of China.

Suggested Citation

  • Liming Hu & Fulian Chen & Ruixia Zhao, 2024. "Does Digital Inclusive Finance Increase Industry Chain Resilience in China?," Sustainability, MDPI, vol. 16(14), pages 1-19, July.
    • Handle: RePEc:gam:jsusta:v:16:y:2024:i:14:p:6028-:d:1435394
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    Cited by:

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    2. Guo, Xiaoxu & Wang, Yihan, 2025. "Effects of digital finance on enterprise total factor productivity: Evidence from the perspective of innovation level," Finance Research Letters, Elsevier, vol. 72(C).
    3. Wei, Yaqiong, 2025. "Research on the spatio-temporal dynamic evolution and driving forces of digital inclusive finance in developing countries: A case study of China," International Review of Economics & Finance, Elsevier, vol. 103(C).
    4. Pengcheng Zhang & Boliang Lu & Yijie Qu & Haslindar Ibrahim & Hao Ding, 2025. "Efficiency Measurement and Trend Analysis of the Hydrogen Energy Industry Chain in China," Sustainability, MDPI, vol. 17(7), pages 1-28, April.
    5. Cai, Yongbin & Tan, Xinyu & Fang, Wenbin & Nahar, Shamsun & Wang, Feiyang, 2025. "Digital inclusive finance and corporate debt financing: Empirical evidence from China," Economic Analysis and Policy, Elsevier, vol. 86(C), pages 494-509.
    6. Chen, Xiaofei & Li, Qing, 2025. "Digital finance penetration, new media-driven development, and enhancement of industrial chain resilience," Finance Research Letters, Elsevier, vol. 85(PD).
    7. Huang, Guoqing & Yang, Qitao & Zhang, Honghao & Wang, Liying & Li, Xingming, 2025. "Research on the driving effect of digital inclusive finance on the integration of agriculture, culture and tourism," International Review of Financial Analysis, Elsevier, vol. 106(C).

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