Modernization is the common goal of every developing country. The process of China's modernization reflects many commonalities of modernization and reflects the general laws in the process of modernization. Building a modern economic system embodies Chinese characteristics. Socialism with Chinese characteristics has entered a new era, and China has also entered a new journey of building a modern powerful socialist country. Socialist modernization is a synchronous modernization of new industrialization, informatization, urbanization and agricultural modernization. Every aspect of modernization has the characteristics of a new era.According to the blueprint of the 19th National Congress of the Communist Party of China for building a prosperous, strong, democratic, civilized, harmonious and beautiful modern powerful socialist country. China's modernization needs three major areas which are industry, region and ecology to support. It includes modern industrial system, modern urban and rural regional development system, modern green development system.The modern institutional guarantee system is actually the system construction to realize modernization. It mainly includes the following contents:1. Modern market system.2. Modern income distribution system.3. Modern open system.4. Modern national governance system.In the socialist market economic system, the market determines the allocation of resources and plays a better role of the government as a whole. The role of the government in the socialist market economic system is not only to overcome market failure, but also requires: first, the operation of the market economy needs to implement the requirements of socialism. Second, as a developing country, China is facing an urgent task of economic development, and our economic development needs the promotion of the government. Third, the government should take effective measures to cultivate the market.Based on the above tasks, better playing the role of the government is mainly reflected in two aspects: clarify the responsibilities and roles of the government, scientific macro-control and effective government governance. To realize the scientificalness of government’s macro-control, first of all, the government needs transformation. Secondly, we should build a government ruled by law. Third, we should make clear the reasonable range of macro-economy.
