Abstract: As important political heritage from Lenin, the new economic policy embodies Lenin’s spirit of creating new theories and his efforts to explore a socialist path that suits Russia’s national conditions. Due to the complex historical reasons, including Lenin’s own historical limits in recognition, the potential theoretical and practical values of the new economic policy failed to be realized or developed, while the later “Stalin model” of economic system had a strong impact on socialist practices. It is conducive to our own socialist course with Chinese characteristics to study the historical values of Lenin’s new economic policy.

Key words: Lenin, &ldquo, wartime communism&rdquo, , new economic policy, Stalin model