The era of digital trade: Exploring new mechanisms and threshold effects for green upgrading of manufacturing companies.

The green transformation of manufacturing companies is of strategic importance for promoting sustainable development, optimising energy structure and improving environmental quality. This article empirically examines the impact of digital trade on the green transformation of manufacturing companies and the role of green technology innovation using panel data of Chinese A-share listed manufacturing companies from 2011 to 2021. The findings are as follows: digital trade significantly accelerates the green transformation of manufacturing companies, and this effect is more obvious in mature companies, highly competitive industries and non-renewable energy companies. The mechanism study shows that the development of digital trade can promote the green transformation of manufacturing companies by improving the quantity, quality and continuity of green technology innovation. Threshold effect studies show that there is a single threshold effect for the cumulative effect of green technology innovation. When the threshold is crossed, digital trade will optimise the green transformation of manufacturing companies. This article provides important theoretical support for policymakers and business leaders to promote digital trade and achieve green transformation of companies.