Research on Impact of Digital Economy on Real Economy Based on Perspective of Coupling and Coordination of Manufacturing and Service Industries

Amid the global wave of digital transformation, advancing the sustainable growth of the real economy has emerged as a key strategic priority. Drawing on panel data from 30 provinces, municipalities, and autonomous regions in China (excluding Tibet, Hong Kong, Macao, and Taiwan) between 2013 and 2021, this study utilizes fixed effects and mediation effect models to investigate both the direct and indirect pathways through which the digital economy drives the sustainable development of the real economy. The results indicate that (1) the digital economy exerts a significant direct positive influence on the real economy, demonstrating its role in spurring growth and innovation while injecting fresh momentum into sustainable development. (2) It also indirectly facilitates the real economy’s sustainability by promoting the coupling and coordination of the manufacturing and service sectors, emphasizing the importance of industrial synergy in achieving sustainable economic growth. (3) Regional analysis reveals that the digital economy’s positive direct effect on the real economy is particularly evident in North China and the Southeast and Southwest regions. Furthermore, in the Southeast and Southwest, the mediation effect of industrial coupling and coordination further strengthens the sustainability of the real economy. This study offers theoretical insights into the integration of the manufacturing and service industries and provides practical guidance for advancing the United Nations’ 2030 Agenda for Sustainable Development. It also highlights policy recommendations for China to build a modern industrial system and achieve high-quality economic growth.