Whether the construction of China’s cross-border e-commerce (CBEC) comprehensive pilot zones can promote economic growth and social sustainable development is an important question worthy of discussion. This paper uses the difference-in-differences (DID) method to test the impact of the establishment of CBEC comprehensive pilot zones on economic growth and discusses the impact mechanism. The results are as follows. (1) The construction of CBEC comprehensive pilot zones can promote economic growth. After testing with parallel trend, placebo, and other robustness methods, the results are still valid. (2) The economic promotion effect of the construction of CBEC comprehensive pilot zones will be more evident in the coastal and eastern regions. The economic promotion effect of the first, second, and third batch of CBEC comprehensive pilot zones is clear. (3) The main ways that the construction of CBEC comprehensive pilot zones can facilitate economic growth are through urban digitalization, trade openness, and information service industry agglomeration.

Using panel data of cities in the People's Republic of China from 2011 to 2019, this paper analyzes the impact of digital finance on low-carbon transition derived from a superefficiency slacks-based measure data envelopment analysis. We find that digital finance promotes low-carbon transition, and this finding is robust with respect to the choice of sample, potential presence of measurement issue, choice of study period, presence of other policies, and potential endogeneity, among others. This impact, at least in part, is through increased green innovations. We also find evidence for impact heterogeneity across locations and by the level of low-carbon transition. This paper provides policy implications for the low-carbon transition of the region from a digital finance perspective.