The identification of an economic growth phase needs absolutely the selection of a set of proper standards. Internationally, there are many yardsticks for the demarcation between economic growth stages, but those people often employ are the criteria laid down mainly by H. Chenery, the American economist. In order to made a convenient comparison, therefore, this paper will choose the said gauges as the foundation for the judgment of the economic growth stage. In the economy of big powers, there are, to various degrees, gaps between areas; but if we use Chenery’s standards, we will, taking a country as a basic unit, make a macro -- comparison. By comparison, we think that China’s economic development, on the whole, is in the stage of rapid growth in industrialization, at a period when there are very ample space for the growth of traditional industries. Of course, as a big developing country, China has many areas which differ greatly in economy, with the "dual structure" existing extensively among various areas, cities and towns, different areas having different conditions for development and having different tasks of growth. In the new era, a new economy will appear that is principally motivated by the growth and employment of knowledge. Obviously, the furtherance of China’s industrialization must gear with the growing new economy; and this industrialization has to bear the characteristics of the new ear economy.
