Abstract: “Creation first and then destruction” is an important policy implementation strategy of the Chinese government to coordinate the competition between old and new technologies and promote the development of emerging technologies, but few scholars have carried out theoretical research. Taking the mission-oriented innovation policy implemented by the Chinese government in the process of promoting the development of new energy vehicles as an example, this paper studies the specific process, realization path and theoretical logic of “creation first and then destruction”. The findings are as follows: (1) the dynamic adjustment process of “creation first and then destruction”is a discretionary process. In the three stages of "achieve innovative breakthroughs", "achieve commercialize" and "enhance international competitiveness", the Chinese government successively adopted the policy implementation strategies of "creation first", " simultaneous combination from creation and destruction" and "creation from destruction"; (2) The implementation strategy of “creation first and then destruction” requires a systematic realization path. "Creation" includes the layout and cultivation of diversified technologies, the creation of market opportunities for commercialization of emerging technologies and the creation of technological opportunities for innovation of emerging technologies, and "destruction" includes reducing the relative competitive advantage of old technologies, breaking the policy protection space of emerging technologies, and destroying the mainstream technical route expectations and visions of old technologies. (3) “Creation first and then destruction” is essentially the government's behavior of intervening the competition between old and new technologies by creating and adjusting the policy protection space, which reflects the organic combination of "promising government" and "effective market".