National E-commerce Model City Construction and Common Wealth: Empirical Evidence from Chinese Cities

Abstract

Realizing common wealth is the essential requirement of socialism with Chinese characteristics, and the construction of national e-commerce model cities provides a new opportunity for the realization of common wealth. The article measures the construction of national e-commerce model cities and the level of common wealth based on dummy variables and multidimensional indicator system for 282 Chinese cities data from 2011 to 2021, and explores the causal effect of the construction of national e-commerce model cities and common wealth. It is found that the construction of national e-commerce model cities can significantly increase the level of common wealth. This paper examines the impact of the pilot policy of national e-commerce demonstration cities on the level of common wealth through a series of tests such as PSM-DID, parallel trend test and placebo test. Based on the conclusions of the study, suggestions are made to further strengthen the construction of national e-commerce demonstration cities, provide policy protection according to local conditions, and rationalize the construction around the demonstration cities.