Against the backdrop of the current innovation-driven development strategy and the in-depth promotion of the government′s digital transformation, government departments have issued a series of information-based policies to promote the innovation and development of small and medium-sized enterprises, but there is a lack of research on the relationship between information-based policy tools and the sustainable innovation of small and medium-sized enterprises. In order to further promote the continuous innovation of SMEs, it is necessary to verify if information-based policy tools promote the continuous innovation of SMEs, and how information-based policy tools promotes sustained innovation in SMEs. The in-depth discussion of these issues will help the government to further improve information-based policy tools and promote the continuous innovation of small and medium-sized enterprises.#br# On the basis of the existing theories and literature, this study constructs a relationship model between information-based policy tools, continuous innovation of SMEs, resource pooling and innovation power relationship, in order to examine the impact mechanism of information-based policy tools on the sustainable innovation of SMEs. In this study, 446 valid questionnaires are distributed to Chinese small and medium-sized enterprises, and after testing, the questionnaire distribution method and the reliability and validity of variable measurement met the requirements for subsequent analysis. The results of multiple regression analysis show that (1) information-based policy tools have a significant positive impact on the resource patchwork of SMEs (exploratory resource patchwork, utilization resource patchwork) and continuous innovation of enterprises; (2) resource patchwork plays a partial intermediary role in the relationship between information-based policy tools and the continuous innovation of small and medium-sized enterprises, and the mediating effect of exploratory resource patchwork is stronger than that of utilitarian resource patchwork; (3) innovation power can significantly positively regulate the relationship between resource patchwork and continuous innovation of small and medium-sized enterprises, and innovation power has a stronger moderating effect on the relationship between resource patchwork and continuous innovation of small and medium-sized enterprises.#br#According to the above findings, this study has some practical implications. First, the direct effect of information-based policy tools shows that the government should give full play to the advantages of information-based policy tools on the basis of the overall planning and coordination of various policy tools. On the one hand, it is critical to build an information technology support platform and create a perfect support service system; on the other hand, it is necessary to actively carry out various small and medium-sized enterprise policy information publicity activities, and relevant government departments should strengthen policy interpretation and publicity. Second, the mediating role of resource patchwork shows that the exploration of "new resources" and the integration of "old resources" play an important role in the continuous innovation of small and medium-sized enterprises. Thus, the government can provide SMEs with channels for resource patchwork by establishing information infrastructure platforms and holding technical exchange forums to deepen SMEs′ understanding of the resources at hand, so as to improve SMEs′ ability to make innovation and learn from the existing resources; while compared with the patchwork of utilitarian resources, the mediating effect of exploratory resource patchwork is stronger, so the government should pay more attention to the mobility of new resources, promote the construction of digital platforms, strengthen cooperation and exchanges with small and medium-sized enterprises, and enhance the intensity of the flow of knowledge, information and other resources. Third, the moderating role of innovation power shows that, on the one hand, while introducing and implementing information-based policy tools, the government should fully consider the balance between policy objectives and the actual interests of small and medium-sized enterprises, and stimulate the innovation power of small and medium-sized enterprises to the greatest extent through the accurate introduction of various information-based policy tools; on the other hand, small and medium-sized enterprises should cultivate a sense of crisis and be good at transforming market pressure and uncertainty into their own innovation power.#br#
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