Abstract: Chinas social welfare policy has long been dependent on the economic policy and characterized by graduality and conservatism. Unlike traditional welfare thoughts, “inclusive growth” attaches importance to the orientation of welfare programs to production and investment, regards economy and society as two indivisible parts of development, and makes a point of bringing benefits of growth to all social groups. The concept of “inclusive growth” commits itself to the investment of citizens human capital and the upstream intervention from the strategic perspective of the medium and longterm development, which is helpful to overcome the shortcomings of the governments shortterm behavior. Specifically, there should be a shift to “social investment” in the premise of our social welfare policy making, to “first distribution” in regulation, to “authority” in policy making, and to “combination of government with nongovernmental sector” in operational subject.

Key words: inclusive growth, distorted development, developmentoriented social welfare policy, Chinas social welfare policy transformation