The Industry 4.0 is becoming a hot topic. In this paper, we revisit Industry 4.0 from the perspectives of its purposes, features, and key performance indicators. We present a reference roadmap for advancing an Industry 4.0 project from plan to implementation. We present the case study of steel industry 4.0 and lessons. In addition, we give suggestions directing the advancement of Industry 4.0. At present, the traditional manufacturing industry is transforming into an advanced manufacturing industry characterized by “digitalization, networking, and intelligence”. The new round of industrial revolution (change) is deepening in all aspects of manufacturing. Germany and China have launched national strategies to revive manufacturing. This article introduced the cognition of Industry 4.0 and the research on China Intelligent Manufacturing Standards, and shared the achievements of China and Germany in mutual recognition of standards.