Abstract: The 19^th National Congress of the Communist Party of China called for cultivating new growth points and creating new kinetic energy in the field of modern supply chain. The Third Plenary Session of the 13^th Chengdu Municipal Committee proposed to accelerate the formation of new economic and kinetic energy supported by modern supply chains, and to build an international supply chain hub with a focus on building global distribution network and resource allocation center. This shows that the supply chain has been upgraded to the level of national strategy and urban development strategy. This paper starts from general connotation of supply chain with requirements of a new era, describes the modern supply chain from five dimensions of essence, evolution, core elements, characteristics and organization, sums up and refines the importance of building a modern supply chain for the development of government, industry and enterprises. Finally this paper analyzes deeply the challenges faced by Chengdu's modern supply chain development focusing on the core elements of the supply chain (business flow, logistics, information flow, and capital flow), and proposes to promote further development of Chengdu's supply chain.