Taking breakthroughs in key core technologies to drive the construction of a modern industrial system is an inevitable choice for building a great modern socialist country. Based on network embeddedness theory and coupling theory，this study took China Aerospace Science and Technology Corporation （CASC） and its historically evolved institutions as research objects，and explored the specific process and internal mechanism of how enterprises' breakthroughs in core key technologies drive the construction of a modern industrial system. The findings are as follows:（1） Breakthroughs in key core technologies promote the construction of a modern industrial system by triggering internal and external network embedding，implementing resource actions，and adjusting network coupling relationships，which are phasedly manifested as system integration breakthroughs，system architecture transformation，and system integration and innovation. （2） With the upgrading of key core technology breakthroughs，enterprises sequentially adopt the action strategies of "construction-adaptation-resonance" for internal and external networks. Under the network embedding actions of "connected-intermediary-architectural" types，it implements resource aggregation，leveraging，and symbiosis actions in stages，thereby promoting the transformation of the internal and external network coupling relationship from the "dominant-response" type and the "exploration-adaptation" type to the "origination-resonance" type. （3） The modern industrial system presents an evolutionary law of "foundation-iteration-ecology"，in which future industries，emerging industries，and traditional industries undergo stepped transformation，while the three core characteristics of integrity，security，and advancement are interdependent and achieve coordinated upgrading. This study reveals the theoretical black box of constructing a modern industrial system driven by key core technologies，and will provide certain theoretical basis for accelerating the construction of a modern industrial system.

Promoting the development of "specialized，refined，distinctive，and innovative" （SRDI） small and medium-sized enterprises is a classic policy-instrument-driven development paradigm. The key to SRDI policy optimization lies in considering the dynamic alignment among policy instrument，policy theme，and policy effectiveness. Drawing from public policy evaluation theory，this study employed text mining and quantitative text analysis to conduct a comparative analysis and assessment of 466 SRDI-related policy texts from the Yangtze River Delta and Pearl River Delta regions spanning 2006 to 2024. The results indicated that the selection and configuration of policy instruments face issues including preferential biases，overuse，omission，and disproportionate allocation； the policy themes and anchoring of development positioning suffer from lag effects and insufficient synergy； and there is a pathway for further optimization in policy effectiveness. In response，the continuous adjustment and optimization of the policy system supporting the development of SRDI enterprises should focus on three key aspects:optimizing the structure of policy instruments，innovatively rethinking policy themes and design，and effectively addressing policy gaps. By leveraging these three aspects，the reform and innovation of policies for SRDI enterprises can be advanced through a systematic approach. This study aims to provide an optimization pathway for enhancing the appropriateness and scientific rigor of the SRDI policy design，and to offer methodological references for public policy research as well.

Under the strategic background of constructing a new development paradigm and breaking through "bottleneck" technologies，the "specialized，refined，distinctive and innovative" （SRDI） policy，as a crucial measure to cultivate technology-based small giant enterprises，urgently requires scientific evaluation of its policy effects. Using a sample of Chinese listed companies from 1998 to 2022，this study systematically examined the impact of the SRDI policy on firms' total factor productivity （TFP） and its mechanisms through a multi-period difference-in-differences approach. The findings revealed that the SRDI policy significantly enhances enterprise TFP，with results remaining robust after addressing endogeneity concerns. Extended analyses demonstrated that the policy exerts dual effects on productivity growth—simultaneously operating through intensive margin （efficiency improvements） and extensive margin （scale expansion） channels. Heterogeneity analysis indicated concentrated policy effects within the industrial sector，validating its targeted support for key domains outlined in the Made in China 2025 strategy. Mechanism tests identified two transmission pathways:（1） crowding-in private R&D investment，and （2） extending supply chain linkages. This research empirically verifies the SRDI policy's positive role in fostering the growth of niche technology leaders，and will provide theoretical underpinnings and empirical evidence for optimizing industrial policy design and strengthening supply chain resilience.

As an important part of the national unified market，the data factor market （DFM） plays a key role in unleashing the potential of data factors and stimulating innovation vitality of enterprises. Based on the data of A-share listed companies in Shanghai and Shenzhen from 2013 to 2022，this paper uses a staggered difference-in-differences （DID） model to study the impact and mechanism of DFM on enterprise innovation. Our results show that DFM can significantly promote enterprise innovation. Mechanism analysis indicates that DFM fosters enterprise innovation by reducing R&D uncertainty，promoting digital transformation，and improving management efficiency. Moreover，heterogeneous analysis shows that DFM exerts a more pronounced innovation-stimulating effect on highly competitive industries and digital economy sectors. In addition，DFM has a significant promotion effect on both digital and non-digital technology innovation of enterprises，but the promotion effect on digital technology innovation is more pronounced. Our analysis provides a useful reference for the government to improve the market-oriented allocation of data factors and foster enterprise innovation.