The invented liquid crystal display with the structure of half-transparent and half-reflection type includels following structures. The upper base plate, the lower base plate, the transparent electrode, the reflection electrode, the liquid crystal layer, the 1/2 wave plate and 1/4 wave plate. The transparent electrode is formed on the first part of the surface of the lower base plate structure. There is the first space between the surface of the transparent electrode and the upper base plate. The reflection electrode is formed on the second part of the surface of the lower base palte structure. There is the second space between the surface of the reflection electrode and the upper base plate. The said second space is equal to half the first space. The 1/4 wave plate can be made without need of superposing two layers of the wave plates in the invention so as to reduce the cost of the material. |