China has witnessed serious inflation and asset-price rising in 2007. Inflation and asset-price rising have not only resulted in great shocks in Chinese economy，but also have exercised great influence on Chinese society. The paper provides a detailed analysis on the social impacts of inflation and asset-price rising and consists of three parts. The first part analyzes the influences of inflation on Chinese society. The second part discusses the social impacts of asset-price rising. The last part provides some policy recommendations on reducing and eliminating these negative impacts on Chinese society.