In the first three quarters of 2014，the industrial economy appeared to fall，but the adjustment of industrial structure had achieved positive progress，the quality of industrial economic growth improved obviously. At present，the industrial dynamic mechanism of economic growth is facing a transformation. From the demand perspective，an important driving force for industrial growth is still investment，but the efficiency of investment accelerate decline；from the view of supply，total factor productivity will gradually take the place of capital formation，and become the core of industrial growth driving force；from the industry point of view，labor-intensive industries，capital intensive，knowledge intensive industries play an irreplaceable role in China’s industrial economic growth，but the mechanism and relative position will have a certain change.