This paper studies the process and the performance of transition with the following logic: transition is an objective process in accordance with the general principles of economic history; the objectivity is embodied in the expected economic and social effects of transition, the profound economic and social changes in the course of transition, and the different problems facing different transitional stages. Transition is, at the same time, a subjective process involving the participation of the government and the public; the subjectivity is embodied in the thinking on transition, path selection, policy design, and process control. It requires evaluation, correction, and anticipation on the dynamic process with analysis tools and methods that are normally used to validate the subjective thoughts in the objective world to verify whether effects of the subjective action follow and develop the objective principles. It is under such a logical framework that issues on the settlement of final expenses and the performance assessment of transition raised in this paper focus on the improvement in traditional analysis tools and methods and further apply such improvement to China s course of transition. The rudimental premise in this study is the combination of the process of transition, all-roundness of development, and phases of evolution.