The new quality of productivity is the core driving force and key support for promoting high-quality enterprise development. This study investigates the impact of the coupling and collaborative development of the talent chain, capital chain, and supply chain on the new quality of productivity of leading traditional Chinese medicine (TCM) enterprises.

Based on panel data from 75 listed TCM manufacturing enterprises from 2015 to 2023, an interactive fixed effects model is used to empirically analyze the promoting effect of the "three chains" coupling and collaborative development on the new quality of productivity of leading TCM enterprises, and further examines the mediating role of absorptive capacity.

The results show that the coupling and collaborative development of the "three chains" significantly and positively promotes the development of the new quality of productivity of leading TCM enterprises. The collaborative development of the "three chains" helps to enhance the absorptive capacity of enterprises. Absorptive capacity significantly promotes the improvement of the new quality of productivity of enterprises. Absorptive capacity plays a mediating role in the impact of "three chains" coupling and collaborative development on the new quality of productivity of leading TCM enterprises.

This research provides theoretical support for leading TCM enterprises to optimize resource allocation, enhance innovation capabilities, and improve the new quality of productivity, and offers practical evidence for policymakers to promote high-quality development in the industry.