Research on the Impact of CR-express Train on Enterprise Innovation

—As an important carrier of the “Belt and Road” initiative, the CR-express train has promoted the interconnection between China and countries along the route, thereby providing new opportunities for China to promote an open economy and innovation-driven development. This article takes the opening of CR-express train as a quasi-natural experiment, selects China's A-share listed manufacturing companies from 2010 to 2017 as a sample, and uses a multi-time point DID model to empirically test the impact of the launch of CR-express train on corporate innovation. The research finds that: The opening of the CR-express train significantly promotes corporate innovation, and the conclusion is still valid after the parallel trend test. This article reveals the role of CR-express trains in promoting enterprise innovation and its influence mechanism, which has a certain enlightenment for the construction of CR-express trains' interconnection.