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The Dynamic Value of China’s High-Tech Zones: Direct and Indirect Influence on Urban Ecological Innovation

China’s High-tech Industrial Development Zones (HTZ) are industrial agglomeration areas established by the local government to foster economic innovation. As springboards for cities to implement innovation-driven development strategies, HTZs have significant spillover and driving effects on urban ecological innovation. Based on panel data taken from 215 cities between 2003 and 2016, this paper empirically analyzes the impact of HTZ construction and its mechanisms as they pertain to urban ecological innovation. This analysis is framed by the double difference model and the intermediary effect model. It found that HTZ construction can effectively enhance urban ecological innovation, and formidably promote ecological innovation in central and eastern cities, as well as cities with superior scientific and educational resources. The intermediary mechanism analysis revealed that HTZs result in a policy depression effect, which may promote the agglomeration of urban innovation factors (including high-quality talents and investment), thereby bolstering urban ecological innovation. Moreover, HTZs’ investment agglomeration effect is primarily responsible for driving urban ecological innovation. Indeed, the HTZ construction may not only promote the local ecological innovation, but also have a significant spillover effect on the ecological innovation activities of other cities in the province.