Abstract: Over the past 40 years of reform and opening up, China has completed the development process of developed countries for hundreds of years in decades, created “the development miracle of rapid economic growth” and written “the Chinese miracle in the history of human anti-poverty”. Chinese catch-up growth and structural transformation is a huge narrative, which contains the great power, vitality and potential of theoretical creation, especially the reconstruction and innovation of development economics. This paper refines and summarizes the regular achievements and original theories, which not only shows the local characteristics, but also has the academic theory consistent with Western development economics. In order to answer why Chinese style catch-up growth and structural transformation can succeed, we have taken the liberation of factors, the improvement of allocation efficiency and the consideration of fairness as the logical main line. The major theoretical innovations of Chinese catch-up growth and structural transformation include the theory of socialist market economic system reform, the theory of opening and the theory of comprehensively deepening reform.