Agricultural equipment is a crucial support for ensuring food security and strengthening the agricultural sector of a country. Focusing on the strategic position, industrial strength, innovation capability, and support capability of agriculture, this study summarizes the main achievements of the agricultural machinery industry of China since 2015. It also reviews the development experiences from four perspectives: scientific and technological innovation, industrial ecology, industrial policies, and international development. In response to major demands for ensuring national food security and building a strong agricultural nation in the new era, and in line with the development trends of agricultural machinery toward high efficiency, intelligence, networking, greenness, and robotization, the study proposes that the agricultural machinery industry of China should adhere to a Chinese-style path of mechanized and intelligent development over the next decade. Centered on the general direction of "strengthening foundations, increasing varieties, enhancing levels, improving functions, expanding fields, and extending chains," the study emphasizes focusing on the development of agricultural machinery that is high-end, intelligent, low-carbon, and applicable for hilly and mountainous areas, thereby promoting the intelligent manufacturing, quality improvement, application promotion, and thus full-process upgrading of agricultural machinery.