Abstract: During the 15th Five-Year Plan period, China' s industrial policy faces a pressing need for systemic transformation. It is increasingly characterized by a more systematized governance structure, governance targets that are more value-chain based and ecosystem oriented, a more stratified policy toolkit, and increasingly rigid security constraints. Accordingly, its objective system must shift away from an orientation toward scale and speed and toward a multidimensional framework that balances quality, efficiency, equity, sustainability, and security. Against this backdrop, reforms in industrial policy to support the building of a modernized industrial system should advance along four dimensions. First, quality and security: reshape the governance architecture and strengthen alignment between centrally led industrial policy, industrial-chain policy, and services-sector policy. Second, equity and the institutional environment: improve market competition mechanisms, establish an efficiency-based order of fair competition, build a strategic high ground characterized by services - institutions - ecosystem, and develop an employment-friendly industrial system. Third, efficiency and innovation: refine the orientation of resource allocation and establish a dual -driver mechanism that links upstream, source-level innovation push with downstream market-demand pull. Fourth, greenness and sustainability: innovate the paradigm of ecological governance and, through full life -cyele closed -loop management and ineremental green growth, build an eco-friendly industrial system.
