With the era feature of standing up-richness-strength, economic development strategy of the socialism with Chinese characteristics experienced four periods such as 1949-1958, the initial period of the establishment of new China for preferential development of heavy industry, 1958-1978, exploration period for the construction of “four modernizations”, 1978-2012, the reform and opening-up period for the construction of all-round well-being society, 2012-now, Xi Jinping ‘s overall deepening reform and opening-up period at new era. The continuous exploration and practical achievement for economic development strategy of the socialism with Chinese characteristics in seventy years enlighten us that the policy making and implementation for economic development strategy must uphold overall correct strong leadership of the Party and socialist road with Chinese characteristics, must stick to people-centered idea by putting the initial point and staying point of economic development strategy on serving the people, depending on the people and benefitting the people, must insist on China’s reality by seeking the truth and following objective economic laws, and must persist in putting the priority to developing productivity and scientific and technological innovation to enhance the resilience of economic development and the capacity of self-innovation. This is the precious experience and wealth of the economic development strategy of the socialism with Chinese characteristics in seventy years since the founding of new China and is the great contribution and Chinese wisdom for constructing a Community with a Shared Future for Humanity.