Smart grid is recognized as the development trends of power system in 21st century. Informatization， digitization， automation and interaction are the four basic characteristics（abbreviated as“Four-tions”） of smart grid. The progress of the construction of“Four-tions” in the development of electricity industry of China is summarized.The existing problems are pointed out，and the corresponding suggestions for improving“Four-tions” are proposed. Finally， the important issues of the construction of“Four-tions” are given from an overall perspective.