Financial Technology and Digital Transformation of Enterprises—A Perspective of Financing Constraints and Credit Rationing

With the rapid development of the Digital economy, the Digital transformation of enterprises has become a new trend, and the effective promotion of the Digitalization of the enterprise is the key to the high-quality development of China’s economy. Through web crawler crawling data of Shanghai and Shenzhen A-share listed companies from 2011 to 2019 to investigate the role of regional FinTech in Digital transformation of enterprises, using text mining methods. The empirical results show that FinTech has a significant positive effect on Digital transformation of enterprises. After robustness tests such as reducing endogenous problems and replacing samples, the conclusions are still robust; Fintech reduces the information asymmetry between financial institutions and enterprises, alleviates the financing constraints of enterprises, and improves the efficiency of credit allocation by accelerating credit approval, thus promoting the Digital transformation of enterprises; In small and medium-sized private enterprises, FinTech has a more obvious effect on promoting enterprises’ Digital transformation; In the more economically backward Middle West, FinTech can also play its role.