Abstract: This paper summarizes the new research progress of China's "modern economic system" and looks forward to further research in the future. This paper first introduces the concept and background of the modern economic system from the perspective of reality and theory, and summarizes its practical significance and theoretical value. Next, the paper explains the connotation of modern economic system from three aspects: component, connection and direction. Then, this paper summarizes the mechanism and experience of modern economic system from five aspects: operational mechanism, implementation path, evaluation method, development experience and international comparison. Finally, this paper looks forward to the future research of modern economic system and reviews from the perspective of framework, method, content and contribution.