Traditional Chinese medicine (TCM) develops rapidly in recent years in China; meanwhile, it faces new challenges and shoulders new historical missions. Moreover, the inheritance and innovation of TCM is crucial for the promotion of the Healthy China initiative. To continuously promote the high-quality development of TCM, this study analyzes the current status and development problems of TCM development from the aspects of theoretic innovation, clinical advantages and evaluation, TCM resource development and utilization, intelligent manufacturing, and globalization. Furthermore, six countermeasures are proposed. First, efforts should focus on the theoretical research of TCM, and a population-based TCM health program is suggested. Second, the existing management mechanisms and systems should be innovated, and innovation trials should be conducted in key evaluation systems and methods. Third, the TCM talent team construction should be strengthened to improve the clinical diagnosis and treatment levels and scientific research and development of TCM. Fourth, domestic and international resources can be integrated to stimulate the vitality of the TCM industry and promote the comprehensive development and utilization of TCM resources. Fifth, intelligent manufacturing of TCM should be emphasized, and innovative development of theoretical research, technical systems, and personnel training should be coordinated. Sixth, the globalization of TCM should be promoted to realize the integration of TCM with international traditional and modern medicine.