The third moderate economic cycle since the reform and opening had ended in the first quarter of 2009. From the second quarter of 2009，China’s economic growth has entered the expansion stage of a new round of economic cycle，thus has formed V-type reverse situation of economic operation. In the second half of 2009，the GDP growth rate will return to the moderate growth sector 9%-10%，and will reach 8.5% in the whole year. In 2010，the economic growth will possibly reach 9.8%，but will start speeding up or fall gradually in the second quarter to form situation of high speed initially and low later within the year. CPI starts separation from the deflation sector from the fourth quarter of 2009，and enters the new round of rise cycle in price；it is estimated that CPI will rise 2.9% in 2010，which will be in the moderate scope，but the inflationary force will increases obviously.