Abstract: Under the background of dual failure of both market and government， industry associations often play an important role in maintaining the market order. Therefore， defining industry associations as the subjects of economic law is the ultimate result of constructing a ternary social structure in the modern sense， the inevitable choice of pursuing fairness and justice by economic law， and the unavoidable demand of economic law to integrate its practical functions and theoretical systematicness. However， there is still much improvement in the legislation of industry associations in China， which makes it impossible to fully exert the legal functions of industry associations in the market economy and clearly position their subject status of economic law. Based on this， China should enact Industry Association Law as the basic legislation as soon as possible， thus guaranteeing industry associations subject status of economic law.

Key words: industry association, subject of economic law, legal system