This study focuses on the communication effect of policy on social media. We identify the underlying communication process and construct a communication effect evaluation framework, incorporating the following dimensions: interaction, emotion and attitude, theme, and innovation values. We conduct a case study of ‘Mass Entrepreneurship and Innovation policy’ in China via Sina Weibo. It was found that government units are the most important nodes in the communication and interaction network, although ordinary users are more active. While audiences’ themes of interest are included in the policy content, they are more concerned with policy practice rather than policy content. Audiences’ innovation and entrepreneurship value systems are in the initial stage of establishment. Additionally, college students from Fuzhou University are very active in the interaction on policy topics.