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The issue of “middle income trap” has been widely discussed around the world, especially whether China can cross it. This paper first outlines the background of the problem and the division of income groups related to the World Bank, and then analyzes the success and failure cases of typical countries mainly using the method of experience and case analysis. Finally, this paper indicates the challenges and favorable factors for China’s entry into high-income countries, and predicts whether China can overcome this trap according to the World Bank standards.