China's achievements in poverty reduction in the past 40 years were impressive. This study aims to study the characteristics and trends of urban and rural poverty in China; to sort the changes and challenges of the poverty alleviation policy; to analyze the domestic and international poverty circumstances, as well as new problems faced by China's poverty reduction. Based on the new challenges identified, the study identifies a need for a new vision of China's post-2020 poverty reduction, in accordance with international experience, and to provide a policy-making reference in formulating the new poverty reduction strategy during the post-2020 era.