From the perspective of “four-chain integration” and based on the situation of China’s publishing industry, this paper explores the development mechanism of “four-chain integration” of publishing under the grounded theory. It is found that the publishing policy chain is the guarantee and supports the integrated development of the other three chains; the publishing industry chain is the foundation and the main object of integrated development, and it supports the value chain; the publishing innovation chain is the driving force which is embedded in the publishing industry chain and coordinates the other chains; the value chain is the target which upgrades the innovation chain. Centering on the policy chain to coordinate the other three-chain, establishing the innovation chain, improving the publishing industry chain, upgrading the value chain, and then the interactive development model is built up for the publishing “four-chain integration”, which can provide a reference for the in-depth integrated development of publishing.