Abstract: Industrial Internet platforms are one of the key domains driving the digital and green twin transition of manufacturing enterprises. This paper first calculates the level of digital and green twin transition of manufacturing enterprises using the entropy method and coupling coordination model. Subsequently, this paper selects data from A-share listed manufacturing companies from 2010 to 2023 and utilizes the Ministry of Industry and Information Technology’s “Industrial Internet Pilot Demonstration Platform Projects” (2018—2023) to construct a quasi-natural experiment. By employing a multi-period differences-in-differences model, the study investigates the actual impact of Industrial Internet platforms on participatory manufacturing enterprises’ digital and green twin transition and the mechanism underlying the impact. This research reveals: The industrial Internet platform can significantly promote the digital and green twin transition of participatory manufacturing enterprises. At the same time, the industrial Internet platform can improve the resource allocation efficiency of manufacturing enterprises, promote multi-initiative collaboration and innovation, and then improve the level of their digital and green twin transition. The conclusion of this study not only enriches the research related to the transformation of enterprises empowered by industrial Internet platforms from the perspective of platform-participating manufacturing enterprises, but also provides a decision-making reference for promoting the digital and green twin transition of manufacturing enterprises.

Key words: industrial internet platform, manufacturing enterprises, digital and green twin transition, platform participant, quasi-experiment