Chinese literary criticism has undergone three stages, i.e., by May 4th, founding of new China, and ever since. Likewise, the political criticism has given way to the humane and further to the aesthetic, and dimensional culture-orientated criticism. The transformation has been due to the reforming and opening policies, as well as the establishment of the socialist marketing economy. Besides, the globalization and multi-lateral horizon or context has served as an external force to the literary criticism. All this has been the foundation for the transformation and development of the literary criticism, thus being significant in both the theory and practice.