How Can the Integrated Development of Digital and Real Economies Drive the Construction of a Unified National Market

YI Shaohua; WU Shunli; LIANG Wei

Volume 40 Issue 4

Jul. 2025

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YI Shaohua, WU Shunli, LIANG Wei. How Can the Integrated Development of Digital and Real Economies Drive the Construction of a Unified National Market[J]. Journal of Guangdong University of Finance & Economics, 2025, 40(4): 4-20.

Citation:

YI Shaohua, WU Shunli, LIANG Wei. How Can the Integrated Development of Digital and Real Economies Drive the Construction of a Unified National Market[J]. Journal of Guangdong University of Finance & Economics, 2025, 40(4): 4-20.

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How Can the Integrated Development of Digital and Real Economies Drive the Construction of a Unified National Market

1.
School of Applied Economics, University of Chinese Academy of Social Sciences, Beijing 102488
2.
Chinese Academy of International Trade and Economic Cooperation, Ministry of Commerce, Beijing 100710, China

Received Date: 2025-03-18
Available Online: 2025-09-09
Publish Date: 2025-07-28

Abstract

Abstract

Under the new development pattern, the integrated development of the digital economy and the real economy is of great practical significance for unblocking the bottlenecks in the national economic circulation and giving full play to the advantages of the super-large-scale market. Based on the panel data of 263 prefecture-level cities in China from 2011 to 2022, this paper empirically examines the impact and its internal mechanism of the integration of digital and real economy on the construction of a unified national market. The results show that the integration of digital and real economy can significantly drive the construction of a unified national market, and this driving effect has a long-term effect, which is more prominent in cities in the central and western regions, southeast of the Hu Line, with high administrative levels, well-developed digital infrastructure, and high-level industrial structure. The mechanism test shows that the integration of digital and real economy mainly drives the construction of a unified national market through channels such as improving resource allocation efficiency, stimulating the vitality of market entities, accelerating the deep integration of industries, and strengthening urban network connections. The extended analysis, from the dual perspectives of an effective government and an efficient market, points out that the government regulatory capacity and local market potential play a significant positive moderating role in the process of the integration of digital and real economy driving the construction of a unified national market. This research holds significant reference value for promoting the integration of the digital and real economies in China under the new development pattern, as well as for the construction of a unified national market. This will help to connect the domestic circular economy and fully leverage the advantages of the ultra-large-scale market.
- integration of digital and real economies,
- a unified national market,
- government macro-control,
- ultra-large-scale market advantage

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References(44)

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