Can Supply Chain Finance Ecology Become a New Engine for High-Quality Development of Rural Industries?

Feimei Liao, Jiashen Huang, Juan Li () and Songqin Ye
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Feimei Liao: School of Economics and Management, Jiangxi Normal University, Nanchang 330022, China
Jiashen Huang: School of Economics and Management, Jiangxi Normal University, Nanchang 330022, China
Juan Li: School of Finance and Economics, Anhui Science and Technology University, Bengbu 233199, China
Songqin Ye: School of Digital Economy and Trade, Guangzhou Maritime University, Guangzhou 510725, China

Sustainability, 2025, vol. 17, issue 22, 1-19

Abstract: This study examines the role of the supply chain finance (SCF) ecosystem as an innovative financial framework in driving the high-quality development of rural industries. Using panel data from 31 Chinese provinces (2004–2022), we employ a fixed-effects model to analyze this relationship, confirming that the SCF ecosystem has a significant promoting effect. Mechanism analysis reveals that this positive effect operates primarily through two channels: enhancing rural industrial integration and stimulating technological innovation. Furthermore, we identify significant regional heterogeneity, with the most substantial positive spillover effects observed in the Southwest and South China. These results underscore the critical importance of the SCF ecosystem in rural revitalization and provide a basis for formulating regionally tailored financial policies.

Keywords: supply chain finance ecosystem; high-quality development of rural industries; industrial integration; technological innovation (search for similar items in EconPapers)
JEL-codes: O13 Q Q0 Q2 Q3 Q5 Q56 (search for similar items in EconPapers)
Date: 2025
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