Against the backdrop of accelerating the construction of a unified national market, the transfer and reception of domestic industries hold significant practical importance for realizing the rational allocation of production factors, ensuring the integrity and security of industrial chains, and enhancing the resilience of corporate supply chains. In this context, the establishment of the national industrial relocation demonstration zones policy was treated as a "quasi-natural experiment". Based on data from companies listed on the Shanghai and Shenzhen A-share markets across 259 cities from 2008 to 2023, a multi-period difference-in-differences (DID) model was employed to analyze the effects and pathways through which industrial relocation policies enhance corporate supply chain resilience. It is found that the industrial relocation policy significantly promotes the improvement of corporate supply chain resilience and exerts sustained positive effects. These findings remain robust after a series of multidimensional robustness tests. The analysis of the underlying mechanisms reveals that the policy enhances the supply chain resilience of enterprises in receiving areas by improving their innovation capacity, promoting information sharing among supply chain firms, and maintaining supply-demand stability between upstream and downstream enterprises. Heterogeneity analysis indicates that the positive impact of the industrial relocation policy on supply chain resilience is more pronounced for private enterprises, firms in upstream segments of the industrial chain, industrial and service sector enterprises, and firms located in regions with a lower degree of market segmentation. The conclusions of this research not only offer a novel perspective for effectively enhancing corporate supply chain resilience but also provide decision-making insights for China to coordinately unleash the heterogeneous vitality of different regions, maintain the stability of the modern economic system, and promote high-quality economic development.

industrial relocation  /  corporate supply chain resilience  /  national demonstration zones for industrial transfer  /  resource allocation  /  information sharing  /  supply-demand stability  /  localization of supply chain