The Report of the 20th CPC National Congress stressed that “We must fully and faithfully apply the new development philosophy on all fronts, continue reforms to develop the socialist market economy, stick to high-standard opening up, and accelerate efforts to foster a new pattern of development that is focused on the domestic economy and features positive interplay between domestic and international economic flows.” At the opening ceremony of the seminar for principal provincial- and ministerial-level leading cadres studying and implementing the guiding principles of the 5th Plenary Session of the 19th CPC Central Committee, General Secretary Xi Jinping pointed out that entering a new stage of development, applying the new development philosophy, and fostering a new pattern of development are determined by the theoretical, historical, and practical logic of China’s economic and social development. He further emphasized that creating a new pattern of development clarifies the path for China’s economic modernization. So, what is the theoretical logic and implementation mechanism of this path of economic modernization under the new pattern of development? To understand this requires an in-depth study and accurate comprehension from the perspective of economic modernization theory.