Under the new normal of China's economy development, it is necessary to recognize the leading industries in China's special development zones for promoting economic transformation and industrial upgrading. In this paper, spatial characteristics and influencing factors of leading industries in China's national level economic and technological development zone (ETDZs) are studied based on Ripley's K function and geographically weighted regression methods. The results show that: (1) The manufacturing industry has the absolute advantage in the leading industries of the ETDZs. The spatial agglomeration of leading industries shows the characteristics of spatial scale differentiation and attenuation. (2) From the perspective of industrial organization in the ETDZs, the single and double elements mode play a major role in leading industrial organization. (3) The conditions of the ETDZs have a relatively limited effect on promoting the agglomeration of technology-intensive industries. The supporting function of the city to the industrial agglomeration is negatively related to the investment intensity of the urban fixed assets. The ability of utilizing international capital has a strong correlation with industrial upgrading in the ETDZs. Toward to China's economic transformation and industrial upgrading, the ETDZs should deepen reform in this field. At the same time, two "capital relations" should be handled well, namely, the investment relationship between the ETDZs and the city as well as the relationship between the ETDZs and the international capital.