In the New Era, China’s economy is changing from high-speed growth to high-quality development, and the high-quality development of digital economy is a vital way to promote the transition of China’s economic development model. Based on advanced technologies such as big data, cloud computing, the Internet of things and blockchain, the metaverse effectively integrates production materials like talents, capital and technology, which provides a reliable technical support for the high-quality development of the digital economy. Data is a critical production element of the digital economy, which has changed the supply system of production elements and provided massive reusable resources and offered a sustainable boost to the digital economy. Driven by the metaverse, the space-time barrier effect of resource allocation is removed, supply and demand can be accurately predicted and coordinated, the efficiency of combined elements and productivity grows by leaps and bounds and resource allocation is on the Pareto optimum, and the digital economy sees a surge in benefits. The marginal cost of the digital economy gradually turns into silent cost. Under the model of consumption-driven supply, the development model of the digital economy shifts from economy of scale to economy of scope, and its development space is expanded, fueling the qualitative and quantitative changes of the digital economy. As a key production element, data penetrates into the whole sector and the entire industry chain of the digital economy, a trend which both boosts the transformation of the digital economy into one characterized by intelligence, advancement and crowdsourcing, and unleashes the market potential between the ends of production and consumption. Meanwhile, through in-depth mining of big data, we can blaze the best production path for enterprises, so as to realize the goals of energy conservation, consumption reduction, green and low-carbon development, and drive the profound integration of the digital economy and the Metaverse. The metaverse empowers the high-quality development of the digital economy, a scenario that is in line with the development concept of innovation, coordination, green, openness and sharing. The metaverse boasts the great prospect on multiple fronts like high-end manufacturing, healthcare and smart agriculture, blazing a trial for supply-side structural reform and offering new ideas of the high-quality development of China’s digital economy. At present, when it comes to the metaverse empowering the high-quality development of the digital economy, there are problems such as unbalanced and insufficient integration of the two, ill-equipped core technologies and intelligent equipment, more emphasis on commercial entertainment applications but less on the development of core industries, and the security of application. In the not-too-distant future, there is an urgent need for tackling the weaknesses of crucial technologies and cultivating a model for the deep integration of the metaverse and the digital economy. Furthermore, we are in need of optimizing industrial clusters and diving deeper into the livelihood of the general public, paving the way for the transition from "Made in China" to "Wisdom in China", as well as China’s shift from a manufacturing powerhouse to a world-leading manufacturing power.