Remarkably, the Belt and Road Initiative has increasingly injected important impetus into the economic growth of countries and regions along the Belt and Road. However, how such a growth model affects local businesses? In this regard, this paper constructs a Difference-in-difference (DID) model based on whether the Belt and Road Initiative can promote the technological upgrading of countries and regions along the Belt and Road. The data of listed companies in countries and regions along the

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... and Road Initiative from 2013 to 2020 are used for verification. It is found that the Belt and Road Initiative can significantly promote the technological upgrading of listed companies in countries and regions along the Belt and Road, represented by the number of patents granted. This conclusion implies that the implementation of the Belt and Road Initiative will promote the common development of countries and regions along the Belt and Road, and provides theoretical support for promoting the high-quality development of the Belt and Road. In the meantime, amid the implementation of the Belt and Road Initiative, relevant countries ought to strengthen communication and negotiation, consolidate and deepen cooperation, expand the sphere of influence and adhere to the innovation-driven development strategy, so as to build the Belt and Road Initiative into a platform for the implementation of a community with a shared future for mankind.