In order to study the impact of digital finance on the development of the real economy, the data related to digital finance and the real economy from 2013 to 2022 in 31 provinces(due to the lack of data, the statistical data mentioned here do not include the Hong Kong Special Administrative Region, the Macao Special Administrative Region and Taiwan Province), were selected as research samples, and the empirical methods were used to test the impact effect and regional heterogeneity of digital finance on the development of the real economy, and to verify the intermediary effect of technological innovation in the impact of digital finance on the development of the real economy. The results show that digital finance can promote the development of the real economy. The role of digital finance in promoting the real economy in the eastern region is stronger than that in the central and western regions. Digital finance can indirectly promote the development of real economy by promoting technological innovation and industrial structure upgrading.