At present, China's economic development has entered new normal, and the construction of a modern industrial system should adapt to this important transformation in the macroeconomic background and proceed in accordance with the new phased characteristics. One is to focus on quality improving and efficiency enhancing, with more emphasis on structural adjustment, industrial quality improvement, and industrial transformation and upgrading. The second is to allow industries that embody new technologies, new directions and new dynamic energy to gradually occupy an advantageous and dominant position, so as to form a development pattern in which the industries are moving towards middle and high-end. The third is to shift the driving force of industrial growth to technological progress and productivity improvement, to better meet domestic demand. From the perspective of following the basic laws of the development of the modern industrial system, in the construction of a modern industrial system under new normal, efforts should be made in the following four aspects: to build a new industrial system with comprehensive and coordinated development; to focus on promoting the manufacturing industry towards middle and high-end; to construct a new global value chain led by ourselves; and to attach great importance to the informatization and intelligent transformation of traditional industries.