Analysis on the Development and Innovation Path of Chemical Fiber Industry Promoted by Digital Technology

School of Economics and Management, Beijing Jiaotong University, Beijing, China

18113092@bjtu.edu.cn

Abstract

With the development of digital technology and the continuous expansion of digital economy, digital industry is playing an important role in the development of traditional manufacturing industry. As an important field of modern industry, especially light industry, chemical fiber manufacturing industry has made a great contribution to the economic growth of people’s livelihood in China. Through in-depth research and analysis of the innovation path of digital technology to promote the development of chemical fiber industry, this paper found that: The 1% growth of digital technology will drive the growth of chemical fiber industry by 0.58%, this driving effect promotes the efficiency of process innovation, product innovation, marketing efficiency and management efficiency of the chemical industry, digital technology will enable the chemical fiber industry to break through the limitations of the traditional development mode in all links of the industrial chain and form a strong driving force for its sustainable development. Therefore, accelerating the in-depth integration of digital technology and chemical fiber industry is the key path for China’s chemical fiber industry to resolve the current challenges in terms of price and supply chain relations and to achieve high-quality development.