Urbanization is an important support for industrialization and modernization. In the context of further deepening reforms and promoting Chinese-style modernization, the concept of people-centered new urbanization development is bringing about a profound change in the process of Chinese-style modernization. System innovation, institutional innovation and practical innovation are the core spirit of the third plenary session of the 20th CPC Central Committee, with the fundamental aim of accelerating the formation of production relations that are more compatible with new quality productive forces through reform. The third plenary session of the 20th CPC Central Committee focused on the need for comprehensive, systematic and integrated reforms in the construction of Chinese-style modernization, and faced with the profound changes in the conditions of socio-economic development and the objective environment, it explored in depth the outstanding institutional problems such as the balance of regional economy, the balance of public products, the fusion of urban and rural governance, and the bi-directional urban-rural interaction. It also systematically demonstrates the necessity and reasonableness of the development logic behind new urbanization and the adjustment of the implementation path. The second urbanization with new urbanization as the carrier will further release the dividends of reform, strengthen the kinetic energy of reform and expand the space for reform in terms of factor flow, public service, social structure and institutional potential. The comprehensive deepening reform of new urbanization is a reshaping and reconstruction of institutions and mechanisms, and the top-level logic has been changed from incentive-based urbanization to inclusive urbanization, so as to analyze and judge, prevent and respond to the risks and challenges that may arise from the increased burden of the costs of urban operation and public products, the insufficiency of urban and rural population relocation and citizenship, the weakening of the comprehensive carrying capacity of small and medium-sized cities and counties, and the lack of harmony and completeness of the integration of production and urbanization. Through integrated systematic reform, new breakthroughs can be made in areas such as public goods, urban-rural connectivity, rights protection, international competition, and regional economic balance. This is of great practical significance for the next stage of improving the institutional mechanism for urban-rural integrated development, promoting the efficient use of urban and rural public resources, and advancing the sustainable development of cities, and will also help to provide theoretical guidance, model reference and policy guidelines for urbanization and modernization in developing countries and regions.