基于2010～2019年间中国上市制造企业的面板数据，运用交叠DID方法探讨了中欧班列开通对节点城市企业ESG表现的影响及作用机制。研究表明，中欧班列的开通运营显著提升了节点城市企业ESG表现，结论经系列检验后依旧稳健。进一步研究发现，绿色技术创新和融资约束是中欧班列提升企业ESG表现的重要作用机制；同时，中欧班列对企业ESG表现的影响存在通道方面的异质性，相对于东、中通道，西线通道在提升企业ESG表现中起到了主要的作用。

Based on the panel data of listed manufacturing firms in China during 2010～2019, this paper explores the impact of the China-Europe liner trains on the ESG performance of firms in the nodal cities using the interleaved DID method. The results show that the opening and operation of China-Europe liner trains significantly enhances the ESG performance of firms in nodal cities, and the conclusions remain robust after a series of robustness tests. Further research has found that green technological innovation and financing constraints are important mechanisms for the China-Europe liner trains to enhance the ESG performance of enterprises. Meanwhile, there is channel-wise heterogeneity in the impact of China-Europe liner trains on firms’ ESG performance, with the western corridor playing a major role in enhancing firms’ ESG performance relative to the eastern and central corridors.