The modern industrial college is a new type of higher education institution in China, following industry-education integration and school-enterprise cooperation in the 21st century. The modern industrial college is distinct not only from practical teaching bases and industry-university-research bases in China, but also from foreign "industrial universities," "community colleges," "dual systems," etc. It possesses the organizational features of "diversified cooperation entities, diverse co-construction models, market-oriented operating mechanisms, and modernized management systems." Modern industrial colleges are equipped with "problem-oriented, task-driven, and project-based in a real or virtual simulated learning environment" learning features. The modern industrial college is not only an inevitable requirement of the development of new technologies, new industries, and a new economy for colleges and universities, but also an inevitable product of the transformation of knowledge production modes I, II, and III, with the goal of cultivating and meeting the national innovation drive, industrial upgrading, social and economic development, as well as the demand for high-quality compound application-oriented talents.