On the Commodity Economy in the Period of Chunqiu and Warring State

Commodity economy, including commodity production and management, formally came into being during the period of Chunqiu and Warring State in Chinese history. Owing to the enlargement of social divisions and the development of exchange which were promoted by the improvement of productive forces, an industrial and commercial class, engaged in commodity production and management,was formed in the period of Chunqiu and Warring State. Dependent on their solid economic base, they played a decisive role in the economic development at that time. Their commodity production and management constituted an important part in the new social economic structure, which made a notable and everlasting impact on the economy both of that time and of the following times as well.