Abstract: Generally speaking,for 50 years new China has been making consistent efforts to probe into issues of "what is socialism and how to construct socialism" both in theory and in practice. This article points out that the rise and fall of socialism is closely associated with achievement of its principle guidelines—Marxist philosophy,whose form and development should be viewed in relation to the reality of socialism. Deng Xiaoping theory in constructing socialism characteristic of the Chinese style is a new form of Marxist philosophy. After scores of years of practice,we should become better motivated to draw experience on development of Marxist philosophy,and push our cause forward for still higher attainment.