以我国地方政府推动公共数据开放平台上线为准自然实验，选取2007~2023年中国沪深A股上市公司数据，实证考察公共数据开放对企业债务融资成本的影响。研究发现，公共数据开放能够显著降低企业债务融资成本。机制检验表明，公共数据开放通过缓解信息不对称和提高企业经营稳定性，从而有效降低企业债务融资成本。异质性分析发现，当企业为民营企业、市场地位较低和所处地区电商发展程度较低时，公共数据开放对企业债务融资成本的抑制作用更加显著。此外，公共数据开放能够提高总体债务融资规模和短期债务融资规模。

Using the launch of public data opening platforms by local governments as a quasi-natural experiment and selecting data from Chinese A-share listed companies in Shanghai and Shenzhen from 2007 to 2023, this study empirically examines the impact of public data opening on corporate debt financing costs. The results show that public data opening can significantly reduce corporate debt financing costs. Mechanism tests indicate that public data opening can effectively reduce corporate debt financing costs by alleviating information asymmetry and improving corporate operating stability. Heterogeneity analysis demonstrates that this effect is more significant for private enterprises, firms with lower market positions, and firms located in regions with lower levels of e-commerce development. In addition, public data opening can increase the overall debt financing scale and short-term debt financing scale.