Min Jian, Shuang Wu, Zhitao Wang, Yanshuo Wang
In the context of intensifying financial conflicts and sluggish trade growth, cross-regional enterprise investment is essential for facilitating both domestic and international capital flows while strengthening economic vitality. This article analyzes the impact of government data openness on enterprises’ cross-regional investment, using a sample of listed companies in the Chinese A stock market from 2008 to 2021. It explores this relation through the lenses of information transparency and financial constraints. Empirical research shows that government data openness significantly increases enterprises’ level of cross-regional investment by improving information transparency and mitigating financing constraints. The impact of government data openness on this cross-regional investment varies based on market segmentation degree, industry type, and investment experience. This article enriches research in the areas of government data openness and enterprises’ cross-regional investment and offers strategic recommendations for businesses seeking expansion, while providing insights to help the government formulate more effective information disclosure policies. This article thus supports boosting domestic capital flows and promoting sustainable economic and social development.