As China’s economic development enters a new normal， the development of manufacturing industry is facing new challenges. Intelligent manufacturing is considered to be a key strategy to reshape the new competitive advantage of the manufacturing industry. Based on the manufacturing industry statistics in the Shanghai Science and Technology Enterprise Database from 2008 to 2018， it employed the text analysis method based on machine learning to construct the measurement index for the level of intelligent product manufacturing. It finds that intelligent product promotes the division of labor of firms to move to the upstream of the value chain， the results are robust. The heterogeneity analysis shows that the higher the degree of innovation and openness， or the lower the degree of competition in the industry， the stronger the promotion effect of intelligent product manufacturing. The research results provide a theoretical basis and policy reference for how to accelerate the construction of advanced manufacturing industry， realize manufacturing industry upgrading and improve industrial competitiveness.