Abstract
Applying digital technology to help enterprises' innovation activities has become a trend in the context of global industrial digital transformation. Can 5G, an emerging digital technology, help manufacturing enterprises improve the efficiency of technological innovation? This article regards the 5G Technology Pilot Construction policy conducted in China in 2018 as an experiment and investigates how promoting and applying this new digital technology impacts the technology innovation efficiency of manufacturing enterprises. Our research finds that the promotion of 5G technology can significantly improve the technology innovation efficiency of manufacturing enterprises. In addition, the empowering effect of promoting 5G technology on the technology innovation efficiency of manufacturing enterprises is more prominent for cities with higher digital financial capabilities and enterprises with lower technology capabilities. These research findings have important policy implications and theoretical references for countries worldwide to widely promote the construction of 5G technology and combine different scenarios to promote the technology innovation efficiency of manufacturing enterprises.
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