This book sorts out the causes, consequences and the evolution path of China's economic reform process from the historical dimension of China's economic policy changes, from which the long-standing contradictions and conflicts between the two different models can be seen throughout the process, i.e. the market economy and the state-dominated economy (e.g., Lenin's 'special state capitalism') as well as the potential risks that will be brought by the pause of market and law reform on China's economic and social development. The dispute on the paths exists and will continue, which builds the great complexity and arduousness since China's Reform and Opening-up. This book is written by Chinese economist Jinglian Wu, which helps readers to understand the history and logic behind China's reform and opening-up, as well as the challenges China is facing.