Since the People’s Republic of China established in 1949, scholars both at home and abroad have made thorough researches on China’s socialist basic system in the 1950s. But there have been many disputes on some focus issues, such as the connotation and the orientation, historical evaluation, comparison with the Soviet Socialist system, relationship between the socialist basic system established in the 1950s and the socialist system with Chinese characteristics. It is of importantly academic value to summarize and analyze the above academic issue.