Energy Conservation and Carbon Reduction in the Digital Flood? Evidence from a Quasi-Natural Experiment in China's National Information Consumption Pilot Program

This paper exploits the implementation of China’s National Information Consumption Pilot Program between 2007 and 2022 as a quasi-natural experiment to examine its impact on urban green energy efficiency. The results show that the policy significantly enhanced green energy efficiency in pilot cities. Mechanism analysis indicates that the policy operates through three channels: facilitating factor mobility, fostering innovation capacity, and strengthening industrial agglomeration. Heterogeneity analysis further reveals that the effects are stronger in cities with higher energy intensity, non-resource-based economies, stricter environmental regulations, and greater fiscal capacity. Moreover, moderation tests demonstrate that the level of digital economic development amplifies the policy’s effectiveness, particularly through digital–physical integration and digital inclusive finance.