Abstract:In the new normal of economic development, emerging industry, which leads the overall development of economic society, is not only the key content of building modern industrial system, but also decides the success or failure of the industrial transformation and upgrading. Thereby, based on the level of enterprise, this paper integrates three paradigms including global value chain and production network, innovation ability and technology learning, industrial cluster and innovation system, to establish the framework of “Environment- Path-performance”. The paper using the data of the Pearl River Delta, analyzed the status quo of the upgrading of the emerging industry, pointed out the advantages and disadvantages, and put forward the policy recommendations.