In order to break through the surface analysis of the content structure of policy texts, an in-depth discussion of the linkage between regional policy makers and objectives is helpful to analyze the formation mechanism of policy effects. Through social network analysis and multi-index analysis, this study takes the QianwanNew Area of Ningbo and the Guangdong-Hong Kong-Macao Greater Bay Area as representatives to explore the policy framework for the sustainable development of manufacturing industry in the two bay areas respectively. Through the construction of government department cooperation network, policy keyword co-occurrence network, department keyword correlation network, and the analysis of network density, network centrality, structural holes, and cohesive subgroups, it is found that the impact results show great differences, which is related to the network structure of manufacturing policy text.