Based on China’s provincial panel data from 2012 to 2022, a provincial-level science and technology finance index system was established and an in-depth analysis of the influence mechanism of science and technology finance on the development of new-quality productive forces was conducted using two-way fixed effects model. The results show that science and technology finance has a significant promoting effect on the development of new-quality productive forces.The improvement of education levels and informatization levels can enhance the effect. Science and technology finance promotes the development of new-quality productive forces by increasing foreign investment and facilitating industrial structure upgrading. Science and technology finance exhibits heterogeneity in its impact on the development of new-quality productive forces in terms of regions, industrial structures, and degrees of openness.

local financial undertakings  /  new-quality productive forces  /  science and technology finance