The manufacturing of basic parts and components in China is surging forward at a high level, and its industrial structure is currently in a key upgrading stage. This paper first defines the implication of industrial basic parts and components, and then describes in detail the current development situation of the basic components industry in China. Next, this paper puts forward ideas and suggestions to promote the development of the basic components industry in China, by examining the development experience of developed countries. These authors point out that the government must adhere to market competition in order to promote the optimization and upgrading of the basic components industry. By using innovation to stimulate the formulation of fiscal and tax policies, the government should create a social atmosphere of innovation and give full play to the support and leading role of technological innovation in the basic components industry. Due to the large number and wide range of basic components, the government should shift from a focus on specifics to a focus on general principles in order to promote the coordinated development of both basic components and the industry in general, thus combining key breakthroughs with overall advancement. In addition, because talent is the basis for innovation and industrial development, the government should have a primary focus on people, and should strengthen talent training and the introduction of talents into the basic components industry.