In Jiaodong Peninsula industrial cluster, information asymmetry will lead to "market failure", restricting the development of industrial clusters, therefore, the peninsula industrial cluster needs to establish information sharing, talent exchange mechanism, strengthen technical exchange, change the development of industrial structure of Jiaodong Peninsula convergence status quo; Give full play to the role of the government, build the hard and soft environment needed by the formation and development of industrial clusters, solve the development bottleneck; Give full play to the advantages of leading industries, accelerate the speed of industrial upgrading, improve the competitiveness of industries. This series of measures can solve the problems encountered in the development of Jiaodong Peninsula industrial cluster. In addition, industrial cluster innovation can be accelerated by increasing the amount of venture capital, promoting the establishment of technology innovation platform, actively participating in the division of labor in the global value chain, improving the ability of cooperation and innovation within the cluster, etc., so that the industrial cluster of Jiaodong Peninsula has a sustainable competitive advantage, accelerates the upgrading of industrial structure, and promotes the development of regional economy. 

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