Industry nurturing agriculture does not necessarily occur in the late industrialization, and most countries in the world begin to adjust the relations between industry and agriculture and carry out industry nurturing agriculture policy in the middle of industrialization. According to Chenery H. B Model revised, China goes into the middle stage of industrialization at the end of the 90's in the 20th Century and now it is the transition period from mid-industrialization to lateindustrialization. Industry nurturing agriculture means that what government gives to agriculture is more than that it takes from agriculture, and what it takes is mandatory. Comparing price scissors between industrial product and agricultural product, agricultural tax and financial expenditure on agriculture, it is found that industry nurturing agriculture in China occurs in the early 20th Century no later than 2004. Industry nurturing agriculture in precedent industrialized countries begins under the condition that urbanization rate approximates or is more than 50% and agricultural employment proportion drops to less than 45%. However, industry nurturing agriculture in China begins under the situation that agricultural employment proportion is 46.9% and urbanization rate is 41.76%, which reflects the transform of employment structure and the lag of urbanization. Therefore, the system and mechanism of promoting the countryside by cities and agriculture by industry should be established rapidly to form new relations between city and countryside, industry and agriculture.