This paper systematically reviewed the four periods and three turning points of China's pre-school education under the“tangible hands”of the government from 1979 to 2019. This paper mainly focuses on the influence of the new policy on the capital market of preschool education，the development prospect of private kindergartens and the management system of preschool education，which present the difficulties in the development of preschool education in China，and clearly indicate the future development direction of of preschool education：determine to forbid capital to enter certain fields；clarify the sequence and combination the profit and non-profit，generally-beneficial and not-generally-beneficial policies，refine operational guidelines，improve and upgrade the support and management system of the Generally Beneficial Kindergarten；solving difficult problems at the grassroots level to join the final link of rural preschool education；encourage innovation under the local preschool education system；implement classified management，lower the threshold，open the registration of small and micro kindergarten and children center，rationalize all interests，establish a long-term system，and give play to industry self-discipline.