The Fifth Plenary Session of the 19th CPC Central Committee put forward: insist on the central position of innovation in the overall situation of China's modernization, and make scientific and technological self‐reliance and self‐improvement a strategic support for national development. In the era of digital economy, digital transformation has become a necessary option for enterprises to survive, and digitalization is also an important force to promote enterprise innovation. This paper combines existing research, outlines the digital transformation of Chinese enterprises and the current situation of research from two aspects: digital transformation and technological innovation, analyzes the intrinsic relationship between the two and the progress of digital transformation of Chinese enterprises, and makes constructive suggestions for digital transformation in conjunction with the concept of innovation and development, in order to strengthen the empowering effect of the digital economy on industry and improve the effectiveness of innovation and high‐quality development of real enterprises.