The sudden outbreak of COVID-19 has had a major impact on China’s industrial economy. With the implementation of various policies and measures for epidemic prevention and control and economic and social development carried out by the central government in a coordinated manner，the resumption of work and production has been further advanced，industrial production has continued to rebound，and various indicators of the industrial economy have shown a V-shaped reversal trend. At present，the industrial economy is still facing many difficulties and challenges，which are highlighted by the increasing financial pressure on enterprises and sluggish private investment in the manufacturing sector. Due to the COVID-19 outbreak and uncertainties in the external environment，China’s industrial economy still faced considerable downward pressure in the fourth quarter of this year. Therefore，for some time to come，China’s industrial economic development needs to balance short-term response and medium and long-term development. On the one hand，we should deal with the impact of the epidemic on the industrial economy in the short term，and strive to achieve steady growth of the industrial economy by expanding demand，especially domestic demand；on the other hand，we should continue to deepen supply-side structural reform and promote high-quality development of the industrial economy.