Abstract:It is the key period for China to adjust economy structure and change development mode. This article explains the nature of industry revolution with evolutionary theory, and its relationship and difference from S&T revolution and paradigm shifting, and interprets the meaning of the third industrial revolution. The features of technology, production, and organization of the third industrial revolution are very different from which of the current economic paradigm. The main technology and industries for the third industrial revolution are not mature, but the third industrial revolution is emerging, which should not be ignored. The third industrial revolution will bring challenges to the traditional administration as well as opportunities for the emerging industries and society. The traditional administration should transform from direct intervention to creating the environment in order to fit for the development of the productive forces.