The Transformative Power of Digital Finance: Enhancing Corporate Development and Financial Reliability

The digital economy has brought about significant innovation to business economic models by breaking down temporal and spatial barriers, reducing information asymmetry and incompleteness, and improving penetration and development efficiency. In February 2023, the Communist Party of China and the State Council issued the 'Overall Plan for the Construction of Digital China,' which explicitly stated the goal of promoting the country's digital transformation through the construction of a digital China. Stemming from the digital economy, digital finance, a combination of digital means and financial services, effectively addresses the limitations of the traditional financial industry. It plays a role in credit risk management (Huang et al., 2021), estimating user default tendencies (Berg et al., 2020), and filling the gaps in corporate credit (Klapper et al., 2019). Additionally, it can enhance the reliability of financial information for enterprises and unlock their operational potential.