<p>This study examines the impacts of digital economy on corporate key core technological innovation and new-quality productivity, and explores the mechanism linking them. The results show that digital economy drives key core technological innovation and new-quality productivity. Key core technological innovation exerts a mediating effect while digital economy enhances new-quality productivity. Heterogeneity discussion indicates that in the eastern and central regions, and non-state-owned enterprises, digital economy promotes new-quality productivity and key core technological innovation. Compared to non-high-tech enterprises, digital economy has a more significant promoting effect on new-quality productivity in high-tech enterprises. The mechanism that digital economy promotes key core technological innovation and thereby enhances new-quality productivity is manifested in the eastern and central regions, non-state-owned enterprises, but not significantly in the western regions or state-owned enterprises. Finally, it is recommended that enterprises achieve key core technological breakthroughs, thereby cultivating new-quality productivity. According to corporate geographical locations, technological attributes, and property attributes, regulatory authorities provide differentiated policy support, to promote the effects of digital economy in empowering key core technological innovation and new-quality productivity. This study offers micro-evidence to assess the effectiveness of big data comprehensive pilot zone initiatives.</p>