In recent years, international labor division trend changes, global industrial adjustment and regional shift deeply develop. After financial crisis, the developed countries pay more attention to entity economy, the international equipment and manufacturing industries have new development trend. Based on comprehensive analysis of the main characteristics, main problems and main causes for China’s equipment and manufacturing industry development evolution, this paper gives the related policy suggestions from the perspective ofnew structure economics. The research believes that China’s equipment and manufacturing industry development should develop from selective industrial policy to giving judicious policy according to circumstances, that the holistic ideas for future cultivation of new advantages of equipment and manufacturing industry are to promote quality and improve efficiency, to boost synergic development between globalization and localization, to improve matched development of labor market, to create core technologies and to enhance the protection of intellectual property rights.