Abstract: Based on the connotation and characteristics of new quality productivity （NQP）， the index system is constructed， and the mechanism of digital finance's role in new quality productivity， the moderating effect of government governance on this role， and the heterogeneity of this role are analyzed and examined using China's provincial panel data from 2011 to 2022. The study shows that digital finance significantly promotes the development of NQP； government governance can act as a catalyst in the process of digital finance-enabled NQP development， and improving the level of government governance can enhance the promotion of digital finance on NQP； digital finance-enabled NQP is significantly higher in economically developed regions than in less-developed regions， and the above conclusions are robust to the test. Based on the results of the study， it is recommended that the effectiveness of digital finance in promoting the development of new quality productivity should be strengthened by deepening digital financial innovation and perfecting the technological empowerment system， optimizing the government's governance capacity and amplifying the synergistic effect of policies， and implementing a regional differentiation strategy to promote coordinated development.