Can Smart City Construction Promote Urban Green and High-Quality Development?—Validation Analysis from 156 Cities in China

The in-depth participation and application of new-generation information and communication technologies, such as big data, Internet of Things, artificial intelligence, etc., in the field of smart cities have promoted their abilities in urban fine governance, public services, ecological livability, scientific and technological innovation, etc. Smart cities are gradually becoming recognized as the best solution to “urban problems”. Smart city construction drives urban innovative development, accumulates kinetic energy for economic growth, strengthens social support functions, enhances the effectiveness of the ecological environment, and promotes the convergence and integration of urban green development and high-quality development. This paper constructs a difference-in-differences model based on propensity score matching. Additionally, fiscal science and technology investment is introduced as mediating variables to further explain the mechanism through which smart city pilot policy impacts urban green and high-quality development. This research uses panel data from 156 prefecture-level cities in China from 2006 to 2019 to empirically test that the construction of smart cities has a significant positive effect on urban green and high-quality development. The mediation effect model shows that an increase in the level of local government’s fiscal science and technology investment enhances the positive effect of smart city construction on urban green and high-quality development. This research concludes with policy recommendations: the government should seize the development opportunity presented by smart city pilot policy, providing necessary policy support and financial incentive for the construction of smart cities. This will optimize the local economic structure, transform the driving forces of urban development, and assist cities in achieving green and high-quality development.