At the end of last year, the Ministry of Industry and Information Technology (MIIT) started TD-LTE license granting, which indicated that China had formally entered into 4G era. During the past few years, communication technology has profoundly changed the economic operation mode and people's production method as well as lifestyle. It can be regarded as the frontline of the technology revolution. Nowadays, the formal arrival of the 4G era will promote China’s economic development, transformation and upgrading through various dimensions, like investment, consumption, industrial development and technological progress, etc. China should be well prepared for the 4G era in the aspects of research and policy.