The invention discloses an economical anti-HIC pipeline steel plate X70MS. The chemical components of the product by weight percent are as follows: less than or equal to 0.030% of C, 0.3-0.4% of Si, 1.7-1.9% of Mn, more than 0 but less than 0.08% of Nb+Ti+V, 0.3-0.4% of Cr, 0.1-0.2% of Cu, less than or equal to 0.008% of P, less than or equal to 0.0008% of S, less than or equal to 0.002% of [N], less than or equal to 0.0010% of [O], less than or equal to 0.0001% of [H], 0.001-0.002% of Ca, more than or equal to 1.5% of Ca/S and the balance of Fe and inevitable impurities. The product is a uniform polygonal ferritic structure. The production process of the product is as follows: pretreatment of hot metal, converter treatment, LF refining, RH vacuum degassing, slab continuous casting, slow cooling, rolling, cooling, fine inspection, performance detection, packaging and storage. The invention adopts micro-alloy composition design with ultra-low carbon, medium/high manganese content and little Nb, V and Ti; manganese is increased for replacing noble alloy elements, such as Ni and Mo, so that the economical efficiency is increased; high-temperature heating of steel rolling link is combined and reasonable rolling and cooling processes are subsequently adopted, so that the uniform polygonal ferritic structure and the excellent anti-HIC performance can be acquired.