China will be at the critical moment of reform and development in the next few years, which is named the second transition, and equality and sustainable development have become the main themes of Chinas development models transformation. This book analyzes the change of Chinas development models at this crossroad. China will face three terminations in the post-crisis period: the termination of export-led model; the termination of investment-led model; the termination of GDP-centered growth. The four messages of the second transition are consumption, innovation, green and equality. The five obstacles of the second transition are the transition and reform of the consumption-led period, of the urbanization period, of the urban-rural integrated period, of the low-carbon economy period and the period lacking public products.