The economic system is a very broad concept, including industrial structure, fiscal and tax system, monetary and financial system, enterprise system, and so on. Among them, industrial structure and industrial system are the core. Against the backdrop of humanity entering the new industrial revolution, it is crucial for China to develop advanced manufacturing industries in order to build a modern economic system.

Building a modern economic system with advanced manufacturing as the pillar is a result of the laws of human economic development and social progress, and is an inevitable choice under the background of the New Industrial Revolution. The use of wisdom and labor tools to create material products has always been the foundation for human survival and development. From the initial collection and hunting to the present, human society has completed Social division of labor. Since the 1860s, humanity has gone through three more industrial revolutions, and social production efficiency has been unprecedentedly improved. It is not difficult to trace back to the process of Social division of labor and three industrial revolutions. Every social division of labor and industrial revolution depends on industry or occurs in the industrial field. Industrial development and progress in production tools have constantly improved production efficiency, refined social division of labor, and increasingly complicated economic structure. Without industrial progress, there can be no economic development; Without modern industries, there cannot be a modern economy. In the development process of modern industries, the development of the manufacturing industry plays a crucial role. Entering the 21st century, humanity has entered the era of the new industrial revolution, and information technology has been deeply applied to the manufacturing industry. Manufacturing methods are undergoing fundamental changes, and the new industrial revolution will still originate in the manufacturing field. Therefore, building a modern economic system must rely on a strong advanced manufacturing industry.
The most remarkable symbol of the modern industrial system is the modernization, frontier and progressiveness of the manufacturing industry. Developed countries have always attached great importance to the development of manufacturing, and their advanced economic systems are built on a strong manufacturing foundation. After entering the new century, especially in recent years, the United States has introduced a series of plans or strategies to develop advanced manufacturing, such as the Manufacturing in the United States Innovation Network Plan, the Advanced Manufacturing Partnership Plan, and the American Innovation Strategy, in an effort to maintain its leading position in the manufacturing field. The UK has also recently released the ‘Science and Technology Strategy 2017’ report, aiming to make technology a key element in national defense strategic decision-making and promote the entry of innovative and disruptive technologies into the manufacturing sector. Similarly, manufacturing powers such as Germany and Japan have also launched “Industry 4.0” and “New Robot Strategy”, vigorously developing advanced manufacturing industries and striving to seize the opportunity in the new industrial revolution.