Although numerous studies have examined the impact of high-speed rail (HSR) on regional economic development, few have explored this relationship from a network perspective—a research gap this paper seeks to fill. Specifically, this paper aims to clarify the theoretical mechanism through which the HSR network affects the spatial evolution of regional industries, focusing on the new industry entry. We improve the local spread model by incorporating the HSR network as a key component and perform empirical analyses using the Spatial Durbin Model (SDM) and spatial mediation effect model, drawing on data from Chinese A-share-listed companies. The findings indicate that China’s regional industries underwent spatial evolution characterized by “diffusive agglomeration”. In terms of direct effects, connectivity ranks as the most influential HSR network indicator; however, when both direct and spillover effects are taken into account, accessibility becomes the primary factor, underscoring its vital role in reshaping the spatial distribution of industries. Additionally, the HSR network exerts a slightly stronger impact on industrial spatial diffusion (fueled by knowledge spillovers) than on industrial agglomeration (driven by market size), and its attraction to new industry entry is notably greater in peripheral regions than in core regions. These results demonstrate that HSR, characterized by “transporting people rather than goods”, mainly facilitates the exchange of knowledge, technology and information instead of reducing freight costs, offering valuable insights for optimizing regional industrial layouts.
Li et al. (Fri,) studied this question.
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