With the evolution of the era and background transformation, Marx’s Political Economics has continuously been enriched and developed, however, its basic principle and core contents are still consciously unified between productivity development and production relation, under whose guidance, the theory of the mode of economic development undergoes the innovation and development of traditional socialist political economics and socialist political economics with Chinese characteristics under the promotion of social economic practice. Socialist political economics with Chinese characteristics and economic development mode theory are closely correlated and support each other, therefore, its innovative development must be rooted in the great practice of China’s economic development under new normalcy.