Abstract:In the 1980s, Deng Xiaoping's strategic decision prompted Chinese government to formulate the "863 Plan" which launched China on its road of high-tech industry innovation and development. After 30 years of development, the added value of China high-tech industry reaching 4.9% of GDP made it become an important pillar industry of the national economy. With the characteristics of high growth rate of added value and employment, China's high-tech industry is catching up and even surpassing the United States in terms of industry added value, exports volume, and export added value. This is mainly because the complementarities and mutual benefits between high-tech industry and economic development, reflected by the compatibility of their life-cycles. In addition, high-tech has great externalities, namely promoting highgrowth of economy and manufacturing industry, facilitating the economic structure transformation, increasing trade growth, accelerating trade structure upgrading, and creating technology spill-over effects. Thus, it has also become a leading industry and new growth engine for national economy. The future perspective of China's high-tech industry will be an upgrading process in terms of quality and surpassing the United State to top the world.