以2011~2024年A股公司为研究样本，依据马克思资本循环理论，分析新质生产力如何通过保障“购买—生产—售卖”环节的资本稳定循环来化解“断链”风险。研究表明，新质生产力改善了企业供应链韧性。此外，人才引进制度、政府数据开放制度、公共资源交易制度均放大了新质生产力对企业供应链韧性的正向影响，证实了制度优势的保障效果。异质性分析表明，当企业为国有企业、处于衰退期，供应链金融发展水平高、未实施供应链数字化，营商环境优良且位于中部地区时，新质生产力对企业供应链韧性的影响更为显著。

Based on Marx’s capital circulation theory, this study employs a sample of A-share enterprises from 2011 to 2024 to analyze how new quality productivity mitigates disruption risks by ensuring the stable capital circulation across the “purchase-production-sale” stages. The findings indicate that new quality productivity enhances corporate supply chain resilience. Furthermore, talent acquisition systems, government data openness, and public resource trading systems amplify the positive impact of new quality productivity on enterprise supply chain resilience, thereby validating the protective effects of institutional advantages. Heterogeneity analysis reveals that new quality productivity has a more pronounced influence on enterprise supply chain resilience for state-owned enterprises, enterprises in decline, enterprises with advanced supply chain finance, enterprises not yet implementing supply chain digitalization, enterprises operating in favorable business environments, and enterprises located in central regions.