Abstract: Theory on the transition period is the most important theory of Marxism. It means the period from Capitalism to the first part of Communism. This theory has been followed in China ever since the founding of the People's Republic of China. Guided by Marx's theory on the transition period, the transition theory in China in return enriched and developed this theory. The important value of the theory lies in the following: it gives a scientific orientation for the development of China, and it is the basic point of departure for the Communist Party of China to handle all problems in a long period.