Abstract:In recent years, factors such as geopolitical conflicts, trade frictions, and the impact of the COVID-19 pandemic have accelerated the restructuring of global industrial and supply chains. Stable and efficient industrial and supply chains can facilitate high-quality development of national industries. Enterprises, as the micro-entities of industrial and supply chains, are challenging to cope with the systemic fluctuations of the entire chain. The Belt and Road Initiative(BRI) has evidently played a strategically guiding role in improving China’s industrial and supply chains. Based on data from A-share listed companies in China from 2010 to 2022, this paper employs the introduction of the BRI as a quasi-natural experiment and constructs a difference-in-difference (DID) model to examine its impact on enhancing corporate supply chain efficiency and the underlying mechanisms.The study finds that the introduction of the BRI has significantly enhanced the supply chain efficiency of listed companies in core cities along the BRI route. The impact pathways primarily involve increasing corporate investment levels and advancing the degree of digital transformation. Further analysis indicates that the BRI has a more pronounced effect on improving supply chain efficiency for state-owned enterprises, manufacturing enterprises, and enterprises engaged in overseas operations. This paper provides empirical support for macro policies in fostering the development of micro-enterprises and offers policy insights for the Chinese government to optimize macro policy formulation and enhance supply chain efficiency.