Research on the Power of Supply-Side Reform for the Sustainable Development of Cultural Industry in Jiangsu Province, China under the Background of Domestic Dual Circulation

Abstract

With the continuous changes in the external environment, and the prevalence of protectionism and unilateralism in some countries, the theoretical environment of “dual circulation” has changed dramatically, and China’s national economy has been severely impacted by the new crown epidemic. Thus, developing the national economy and activating the vitality of the sustainable development of the cultural industry is key. This paper constructs a hypothetical model of the key factors of the supply-side structural reform of the sustainable development of Jiangsu’s cultural industry under the dominance of domestic internal circulation, and then designs a questionnaire according to the hypothetical model and conducts a questionnaire survey. Data and hypothetical models are investigated, reliability and validity testing are conducted, and structural equation modeling analysis is carried out. The research results show that: product satisfaction factor, consumer price rationality factor, consumption channel diversity factor, consumption promotion effectiveness factor, and consumption security factor all have a positive impact on consumer satisfaction factor, and the supply-side structural reform impetus has a significant positive impact on consumer satisfaction, and consumer satisfaction has a positive impact on consumer expectations. Finally, suggestions are put forward for the supply-side structural reform of Jiangsu’s cultural industry, in order to promote the sustainable development of the cultural industry.