Based on the review of the transformation and development of public transit systems, this paper analyzes the challenges faced by public transit system development in China within the context of high-quality socio-economic transformation and technological change. In view of the goals of public transit system development, system architecture, operational management models, and supply structures, the paper presents development concepts and transformation insights. Furthermore, it conducts an in-depth analysis and outlook on the trends and key technological directions of the public transit system in the new era. The paper aims to promote the deep integration and application of new information technologies such as big data and cloud computing in the operation, service, and management of the public transit system and provide a reference for the construction and development of a multimodal and collaborative public transit system.