Against the backdrop of the development of digital economy, China still insists on advancing new industrialization, promoting the highend, intelligent and green development of manufacturing industry, and moving faster to boost the countrys strength in manufacturing. In order to make a rational and systematic interpretation, it is necessary to understand Marxs theory of industrial capital, fully draw on the theory and practical experience of the development of manufacturing industry in the West, especially the advanced manufacturing industry, consider the specific practices of the Chinese path to modernization, and adapt Marxs theory of industrial capital to the Chinese context and the needs of our times. Marxs theory of industrial capital based on the perspective of manufacturing industry reveals that industrial capital is productive capital, the basic form of capital, and clarifies the general principle that the manufacturing industry plays a fundamental role in the industrial capital sector. Theories summarized by Western scholars based on the experience of Western developed countries in developing manufacturing industries further validate the scientific nature of Marxs theory of industrial capital, and make new theoretical explanations and empirical examinations. They conclude that the strong manufacturing industry under the digital economy is still the foundation of economic development and growth, as well as the important source of scientific and technological innovation, providing broad application scenarios and data advantages for the development of digital economy. The Party continues to take measures of new industrialization, that is, focus on the real economy, accelerate the development of digital economy, promote the deep integration of digital economy and real economy, insist that the manufacturing industry forms the foundation for building the country and boosting its strength, and maintain the stability of the proportion of manufacturing industry in the economy, which are the inheritance and development of Marxs theory of industrial capital, thus promoting the adaptation of Marxist economics to the Chinese context and becoming an important part of Chinas independent economic knowledge system.