In 2019, under the influence of multiple factors such as the aggravation of SinoUS. trade conflict, the simultaneous decline of the world economy, the continuous fermentation of domestic structural factors and the increase of cyclical downward force, Chinas macroeconomy bid farewell to the platform period of “stable and slowing down” in 2016—2018 with the increased decline of economic growth and the obvious economic structural differentiation. 2020 is China's fairly welloff year in an allround way. China's macroeconomy will change significantly on the basis of continuing the basic operation mode in 2019, so it is not necessary to be too pessimistic. On the one hand, the downward trend force and structural force in 2019 will continue to work, which will further reduce the potential GDP growth in 2020; on the other hand, many downward cyclical forces in 2019 will begin to change their directions in 2020, which will ease the macroeconomic downward trend and the downward range will be significantly narrower than that in 2019. The reversal of some cyclical forces and the continuous improvement of China's institutional dividend will be the most noteworthy and expected new changes in 2020.