The digital economy profoundly reshapes the traditional pattern of factor allocation and has become a key driving force in the formation of new-quality productivity. Centering on factor allocation efficiency, this paper analyzes the impact pathways of data factors, platform mechanisms, and digital technologies on the allocation of labor, capital, and technological resources, and constructs an analytical framework covering basic impact mechanisms, changes in key areas, real-world obstacles, and optimization pathways. Empirical methods are used to verify that the digital economy has a direct effect, mediating effect, and threshold effect, which significantly promote new-quality productivity. Optimizing digital infrastructure and data market mechanisms will effectively enhance factor mobility and collaborative efficiency, thereby driving high-quality development.