Abstract: Under the background of the new round of technological revolution and industrial transformation, local governments have supported the development of strategic emerging industries. However, how to combine industrial policies to play a synergistic role is a complex problem, which has become a strategic problem need to be solve for local governments. Through the grounded theory analysis of Guiyang's big data and Miluo's resources recycling industry, this paper finds that: (1) Policy mix is an organic whole consisting of strategy and instrument. Policy strategy guides the implementation process of policy action and guarantee. (2) Policy strategy includes industry orientation, business route and purpose. There are two forms of “top-down” predetermined strategy and “bottom-up” emergency strategy. (3) There is a “dominant-assisted” synergy relationship between policy actions and guarantees. As a leading activity, policy action is basically carried out around the enterprise value chain, and needs to be supported by policy guarantees such as resources and capabilities. The theoretical contribution of this paper is to construct the "strategic-action-guarantee" theoretical model of policy mixes in China’s regional context, and deepens the internal links between policy instruments.