After 2010，China’s economic growth has continued to decline. This trend is the inevitable result of Manufacturing 4.0，and it is also a requirement for economic efficiency improvement. In 2021，the economic cycle trend between China and the United States may show a divergence，and the policies of both sides will have an important impact on global economic trends. The current global economic development is at a specific risk stage，and the pressure from the US policy is superimposed，and the domestic economy should focus on economic risk management. The central government proposes inter-cyclical adjustment. We believe that in 2021，we should play a game with US policy in many aspects，implement proactive fiscal and loose money，appropriate reverse regulation，strengthen anticipation management，and manage credit and price risks. Macro-control policies can partially improve the performance of fundamentals.