Abstract: In 2019, China's industrial economy as a whole exhibited the operation characteristics of “production slowing down and structural optimization”. The specific performances were the slowdown in industrial production growth, the decline in corporate profitability, the acceleration of new and old kinetic energy conversion, and the optimization and upgrading of industrial structure. The insufficient financing capacity of the manufacturing industry, the great pressure to reduce consumption in the central and western regions and the insufficient and unbalanced regional industrial development are the outstanding problems facing the current industrial economy operation. In 2020, the environment and situation both at home and abroad will be severe and complicated; China's industrial economy will still face many hidden worries and challenges, as well as greater downward pressure. China's industrial economic development should fully reflect the idea of combining short-term positive response with medium and long-term reform and development. On the one hand, we should expand demand and strive to achieve steady and rapid development of the industrial economy. On the other hand, we should continue to maintain strategic determination and strategic patience, deepen supply-side structural reform, and make every effort to promote the high-quality development of the industrial economy.

Key words: China's industrial economy, operating characteristics, high-quality development, outlook