"Made in China 2025" clearly put forward the strategic goal of becoming a powerful manufacturing country, including the prospect of advanced manufacturing industry. Government policy support has played an increasingly important role in the fostering of advanced manufacturing clusters. Based on the two-dimensional analysis framework construction combined with the X-axis of policy tools and the Y-axis of knowledge advantage, we studied the fostering policies of the world-class advanced manufacturing industrial innovation ecosystem, especially focusing on the dynamic development process of knowledge production, and knowledge transformation, and knowledge application. Additionally, we also analyzed the trends in risk and knowledge advantage during the life cycle of the world-class advanced manufacturing industrial innovation ecosystems. We provide a fostering policy framework and believe that this study could provide references for the cultivation of a world-class advanced manufacturing industrial innovation ecosystem in China.