2008 marked the 30^th anniversary of China’s Reform and Opening Up. The 29^th Summer Olympic Games was successfully held in Beijing，attracting worldwide attention. China，however，suffered from unprecedented Wenchuan Earthquake and is deeply affected by the international financial crisis caused by the meltdown in the U.S.subprime mortgage market. The speed of the Chinese economic growth remains high while its growth rate declines evidently. Grain production gains a historical breakthrough while the upward trend in prices is under control and noticeably slowed down. The standard of living of urban and rural residents continued to improve，while the rate of income growth is dropping. Labor market gets some contraction，which was reflected in the returning home of the migrant workers and university graduates. Painstaking efforts have been made in the increased amount of investment to ensure a steady and speedy economic and social development. A huge move was made to eliminate the dual urban and rural structure in such areas as education，medical care，social security and public services. 2008 represented a historical turning point in a new phase of China’s social development.