Disposing the relation between equity and efficiency correctly has become the basilic foundation of the economic development. Based on the property delimitation of equity and efficiency, this paper put forward that there is a relation of unity and opposition which evolve in wave- like evolution between them, and make a deep analysis on the critical factors which decide and restrict it. On the base of it, this paper make a judgment on the relation of equity and efficiency of our country, draw a conclusion that there is a positive relation between the equity and efficiency in china, so we must reinforce the extent of accommodation towards equity.