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After long-term dual economic development, China’s development began to appear turning point. According to the law of development, once the bottomless supply of labor force disappears, Lewis turning point is about to come. Especially for China’s economy, which is in the transition process of both dual structure and economic system, this is a crucial turning point. On the one hand, the success of this turning point means the coming of a brand-new development period; On the other hand, this turning point is filled with severe challenges. This work creatively combines the development economics with China’s economic development reality, reveals the coming and challenges of Lewis turning point, and forwards some target-oriented policy proposals. 

In the first part, the author starts with China’s successful demographic transition and its aftereffect. By means of estimating the true status of the remaining rural labor force, it elaborates the situation of supply and demand in urban labor market. Again it demonstrates the coming turning point of dual economy.

In the second part, by taking the views from the relationship between long-term economic growth and macroeconomic circle, and the relationship between Chinese economy and global economy, the author expounds the new characteristics and new challenges of China’s macro economy under the condition that turning point has already come, and demonstrates the role that government should play. This part can be seen as the corresponding policy implications of arrival of Lewis point.

In the third part, the author release the key challenges that China’s economic reform and development will face with after the turning point comes, including income distribution, labor market construction, the reform of aged safeguard system, the transition of economic development pattern and the choice of agriculture policy.