Chinese folkloristics, with a history of more than 100 years, is meeting a new opportunity for development in the 21^st century. Meanwhile, the existing traditional concepts, paradigms and methodologies of folkloristics seem to be incapable of confronting the enormous diversity of the common people's life and culture today. Therefore, "modern folkloristics" has become a significant academic topic in recent years. Comparing traditional folkloristics with modern folkloristics to summarize the basic characteristics of modern folkloristics, this paper claims that the growth of modern folkloristics in China must objectify "nostalgia" and "authenticity".