Abstract:The integrated circuit (IC) industry is highly complex and systematic, and its key core technology breakthroughs are highly dependent on the support of systematic capabilities. The West especially the United States has accelerated the promotion of the “small-yard, high-fence” strategy, the “New Washington Consensus”, the “de-risking”, and other systematic policies to curb China’s rise. China’s IC industry chain is facing extreme risks such as rupture or blockage. Meanwhile, facing the new mission and requirements of Chinese modernization and new-quality productivity, China needs to accelerate the modernization of the IC industry with new development paradigms, new strategies, and new approaches. Based on the theories of new national innovation system, missionoriented innovation, and context-driven innovation, this study proposes that China need to integrate the dual approaches of “missionoriented” and “context-driven” to promote the modernization of IC technology system and industrial system from the dual perspectives of “catch-up” and “beyond catch-up”. Policy and practical suggestions are further proposed such as seizing the contextdriven innovation opportunity, coordinating the technology, education, and talents, building national-level innovation consortia, strengthening the firm-leading collaborative innovation system, and constructing a glocalized innovation network, which provides theoretical and strategic support for accelerating the modernization of China’s IC industry towards new-quality productivity.