he economic thought of cooperation which was introduced into China after May 4th Movement, were publicized vigorously between the CPC and the KMT. The leaders of two parties, especially Mao Zedong advocated actively. The discussion which was written by Mao promoted the motion of the cooperatives. High rent of the civil society and a long tradition of friendship were made people full of expectations on mutual assistance and cooperation. From 1926 to 1927, there were many cooperatives had been founded in the rural and the farmers' banks were set up in some place. Investigation of the cooperatives in Hunan during the great revolution can deepen our understanding of the origin of cooperatives and the Hunan peasant movement.