Socialism with Chinese characteristics. The 19th National Congress pointed out that after long-term efforts, Socialism with Chinese characteristics has entered a new era, which is a new historical orientation for the development of China. And historical orientation refers to the direction and position of objective things in the historical process. Understanding the new historical orientation of China's development from the stage characteristics of China's social development. Historical position is determined by the stage of development. Over the past 40 years of reform and opening-up, China's economy has developed continuously and rapidly, moving from a low-income country to an upper-middle-income country and towards a high-income country.