Abstract:In the “new normal” of economy how to promote the upgrading of industrial structure, is an urgent study. Taking the time series data 1985-2014 China as samples, Using Bayesian quantile method to analyze the relationship between technological innovation, financial development and industrial structure upgrading. The conclusion is:technological innovation and financial development can promote the upgrading of industrial structure; however, there are differences between the two to enhance the degree of upgrading industrial structure: the degree of scientific and technological innovation improving the upgrading the industrial structure is less than financial development, improving the level of financial development on the upgrading of industrial structure enhance the role of the larger, the impact of technological innovation and industrial upgrading of the structure showing the inverted "U" shaped relationship, and enhance the role of upgrading the industrial structure is not obvious. Proposed the implementation of "big data, networking, intelligent" innovation and development model to promote financial reform and supply-side speed up technological development of the financial proposals.