Abstract: With the rapid development of the world economy, it is urgent to promote the high-quality development of manufacturing industry by innovation. In order to make the innovation of manufacturing industry reach the best level, our government has issued a number of policies to encourage its development. Whether the existing policy setting is reasonable and the text content meets the actual needs is an important basis for the future release of relevant policies. This paper uses social network analysis and co-word analysis to analyze the content of 78 national innovation policy texts issued in 2012-2019. Based on this, it constructs a quantitative framework for the evaluation of innovation policy in manufacturing industry, selects representative policies as samples, and uses PMC-AE index model for quantitative evaluation. The results show that the scores of policy samples are high, which indicates that the quality of policies formulated by relevant policy issuing agencies is high, and the content of policy texts is reasonable and meets with the actual needs, but there are still some problems that need to be improved, including increasing the content of policy texts involving supervision and regulation, strengthening the combination of policy tools, expanding the coverage of policy participants, and improving the application of incentive measures and strengthen the breadth and depth of coordination between policy issuing agencies.