This paper disagrees with the opinions that China's economy will face the risk of stagflation or has moved into a state of stagflation or will suffer a hard landing. This paper makes an analysis of the six characteristics China's economy may exhibit in 2011 and during the 12 th Five-year Plan period. This paper stresses that China's economy will stay in the range of modest grow rate in the new round of economic cycle; that to stabilize the price level and to stabilize the grow rate are complementary to each other; and that the increase of income per capita, the advance of urbanization, and the upgrade of industrial structure are the main driving forces of economic growth during the 12 th Five-year Plan period. <<