Abstract:This article uses the A-share listed company data from 2011~2019 to analyze the role of the digital economy in promoting enterprise innovation, and the impact of enterprise innovation demand on this relationship. The results show that (1) The digital economy can increase enterprise innovation. (2) This effect is more pronounced for companies with higher levels of innovation demand, that is, capital-intensive and technology-intensive companies, as well as companies with higher industry competition. (3) The further research shows that the digital economy can not only increase the quantity of enterprise innovation, but also improve the quality of enterprise innovation, and the impact of the digital economy on high-quality innovation is greater than that on low-quality innovation.