China　has　built　up　the　longest,　fastest　and　largest　High-speed　Rail　(HSR)　network　in　the　world　in　only　7　years.　Even　though　doubts　and　critics　go　along　with　its　rapid　development,　Chinese　HSR　is　still　a　successful　case　in　terms　of　the　implement　of　technology　introduction,　digestion　and　re-innovation　strategy.　Based　on　a　long-term　tracking　study,　the　authors　argue　that,　the　achievements　China　has　got　in　HSR　industry　since　the　introduction　strategy　in　2004　is　significant.　How　does　Chinese　HSR　industry　grow　so　fast?　How　does　the　model　of　Indigenous　Innovation　with　Chinese　Characteristics　influence　the　process?　The　answers　to　these　questions　would　provide　a　reference　framework　for　developing　high　technology　in　other　industries　and　for　implementing　new　catch-up　strategies　in　other　developing　countries.