Since 1980s, China’s economy has experienced miraculous development that attracts worldwide attention. With this rapid growth, the academic discussion on China’s economic imbalance and rebalancing has never stopped. It is in the process of imbalance, rebalancing, re-imbalance, and rebalancing that China’s economy has jumped from a developing country with per capita GDP less than 200 US dollars to a middle-income country with per capita GDP close to 9000 US dollars in just 40 years. Standing today, it is particularly important to reorganize and reflect on China’s economic imbalance and rebalancing for understanding how China’s economy advances in twists and turns.