Modern Social Science Research

This study utilizes the establishment of China’s Cross-Border E-Commerce Comprehensive Pilot Zones (CBEC CPZs) as a quasi-natural experiment to systematically evaluate the impact of CBEC CPZ policies on inter-firm wage disparities. Based on data from A-share listed companies spanning 2011–2024, we employ a multi-period difference-in-differences (DID) approach for empirical analysis. The findings reveal three key insights: First, the CBEC CPZ policy significantly raises the average wage level of firms within the pilot zones, thereby widening wage disparities between firms inside and outside these zones. Second, the policy effects exhibit significant heterogeneity, with large-scale firms and export-oriented enterprises benefiting more substantially. Third, mechanism tests indicate that the policy influences wage disparities through the combined effects of "financing constraint alleviation" and "talent structure upgrading." This study provides new micro-level evidence on the relationship between CBEC CPZ establishment and income distribution, offering important policy implications for optimizing the spatial distribution of CPZs, promoting regional coordinated development, and advancing high-level openness under the goal of common prosperity.

Cross-border E-commerce Comprehensive Pilot Zone; Inter-firm wage disparity; Multi-period DID; Financing constraints; Talent structure upgrading