China’s economy was at a crucial stage of reform in 2018. The economy grew steadily throughout the year，with some changes and some worries. The whole economy has shown the characteristics of faster development in the first half and slower development in the second half. From the perspective of economic performance，the demand for investment，consumption and net export have declined simultaneously in the short term，partly due to the strict local debt supervision and the deleveraging of the financial system. In terms of fiscal performance，the gap between government revenue and expenditure has been constantly widening；the growth rate and quality of revenue has declined somewhat；the central infrastructure expenditure has played a significant role，and debt risk is still high. In addition，the Sino-US trade war starting in 2018 will be the biggest uncertainty in the future. Even in the context of a challenging environment both at home and abroad，China’s economy has maintained a good momentum. The supply-side structural reform has continued to exert strength；the transformation of the drivers of growth has continued to accelerate；the tax structure has been more adaptive；the new economy has promoted steady growth in employment，and the effect of targeted poverty alleviation has been remarkable. The urban-rural income gap has further narrowed，and the quality of economic growth has gradually improved. These have created good expectations for the economic to maintain a stable performance with good momentum for growth. Some risk points that may arise in 2019 can not be underestimated. We should implement counter-cyclical regulation，structural policies and social security policies to hedge risks and achieve a good momentum of steady progress.