Research On The Impact And Measurement Of Digital Economy On The High-quality Development Of Pharmaceutical Manufacturing Industry

The Outline of the "Healthy China 2030" Plan states that the development of the pharmaceutical industry should be promoted.As one of the important industries to ensure national health and economic operation,the pharmaceutical manufacturing industry is the key industry that countries all over the world are striving to develop.It plays an increasingly important role in China’s national economy.An essential connotation to support the high-quality development of China’s economy is the pharmaceutical manufacturing industry’s high-quality development.With their technological and commercial advantages,pharmaceutical manufacturing companies have significantly improved public health,societal stability,and economic growth during the three years of epidemic prevention and control.At the same time,China’s economy has now advanced to a new level of superior growth,the digital economy based on the new generation of information technology is reshaping the economic structure with unprecedented development speed,development scale and radiation range,and becoming one of the core growth poles of the national economy.On December 12,2021,the Fourteenth Five Year Plan for Digital Economy Development issued by the State Council mentioned that China’s digital economy will enter a new era of deepening application,standardized growth,and inclusive sharing during the Fourteenth Five Year Plan period.Accelerating the creation of a digital China is required,according to the report of the 20 th National Congress of the Communist Party of China.The virtual and physical economies are becoming more and more integrated thanks to the flourishing digital economy,which is exemplified by cutting-edge information technologies like big data,cloud computing,blockchain,artificial intelligence,and 5G.For the pharmaceutical manufacturing industry,the emergence of digital,intelligent transformation,and industrial integration have created an opportunity for high-quality growth.The pertinent literature and research on the influence of the digital economy on the high-quality growth of the pharmaceutical manufacturing industry is currently,however,comparatively scarce.This article thoroughly searches the pertinent literature and theories in light of the aforementioned factors.First of all,it precisely defines the meaning of the terms "digital economy" and "high-quality development of the pharmaceutical manufacturing industry",briefly explains the pertinent theoretical underpinnings,and then thoroughly examines the mechanism by which the latter has an impact on the former.Second,a system of evaluation indexes has been developed for the high-quality development level of the pharmaceutical manufacturing industry and the level of development of the digital economy,respectively.The pharmaceutical manufacturing industry and digital economy have high standards of growth,and has been measured using the data of 28 provinces from 2010 to 2019.The results have been analyzed from the overall level and echelon level.Finally,through multiple regression static analysis,dynamic panel model analysis,and intermediary effect analysis,the paper builds benchmark regression models,dynamic panel models,and intermediary effect models,respectively,and empirically studies the impact of the digital economy on the high-quality development of the pharmaceutical manufacturing industry,so as to provide experience support for promoting the in-depth integration and development of the digital economy and pharmaceutical manufacturing industry,and then provide decision-making reference for realizing the high-quality development of China’s manufacturing industry and economy.The following are the thesis’ s major research findings.First,in terms of influence mechanism.First of all,the digital economy supports the structural upgrading of the pharmaceutical manufacturing industry,optimizes supply and demand matching,helps the pharmaceutical manufacturing industry increase in value,and supports the green development of the pharmaceutical manufacturing industry,all of which contribute to the high-quality development of the pharmaceutical manufacturing industry.Secondly,the digital economy has an indirect impact on the high-quality development of the pharmaceutical manufacturing industry through innovation effects from factor input,efficiency improvement and competition driven,as well as productivity effects from intelligent manufacturing and organization management.Second,in terms of measuring the digital economy and the pharmaceutical manufacturing industry’s high-quality development.In general,the development indicators of China’s digital economy have been improving all the way,and the state of growth as a whole has continued to improve.The pharmaceutical manufacturing industry in China has been consistently developing at a high level,with a significant increase from 2015 to 2016.From the perspective of echelon,China’s digital economy evaluation index values show three echelons in a ladder shape as a whole,and the high-quality development level of the pharmaceutical manufacturing industry can also be divided into three echelons: high,middle and low.Third,in terms of the empirical research.Multiple regression static analysis preliminarily verified that the development level of digital economy can promote the high-quality development of pharmaceutical manufacturing industry.The analysis of the dynamic panel model further fully confirms that the level of digital economy development can support the high-quality development of the pharmaceutical manufacturing industry.The analysis of the intermediary effect further fully confirms that both the innovation effect and the productivity effect are mechanisms by which the level of digital economy development can influence the high-quality development of the pharmaceutical manufacturing industry.The growth of the digital economy helps the pharmaceutical manufacturing industry expand in a high-quality way by enhancing both the innovation and production capacities.Finally,based on the above research conclusions and in combination with the current situation of high-quality development of China’s digital economy and pharmaceutical manufacturing industry,the four suggestions for policy listed below are presented.First and foremost,we should vigorously support the development of the digital economy with innovation at its core and increase pharmaceutical manufacturing industry’s investment in forward-looking basic research on digital technology,and create and improve two digital technology innovation platforms for pharmaceutical manufacturing industry,namely,innovation research and development platform and achievement transformation platform.Second,we should vigorously promote the construction of a safe,efficient and ubiquitous new digital infrastructure,consolidate the material foundation for high-quality development of the pharmaceutical manufacturing industry,and lay a solid foundation for the digital development of the pharmaceutical manufacturing industry.Third,we should build a "digital government",create a legal business environment,and provide soft power support for the high-quality development of the pharmaceutical manufacturing industry enabled by the digital economy.Fourth,we need not only experts who master digital technology,but also interdisciplinary biomedical talents who cross sectors and industries,so as to promote the integrated development of digital economy and pharmaceutical manufacturing industry.