The defects of realism in Liu Qing’s The History of Entrepreneurship are mainly manifested in two aspects: One is the absolute affirmation and eulogization of agricultural cooperation, and the other is characterization based on class attribute. The reason for this deficiency is that the real expression of reality has given way to the writer’s concept. The relationship between reality and concept is one of the keys of realistic creation. To this question, Marxist classical writers have long since had a clear answer. That is, when reality is in conflict with the writer’s concept, reality should not be subjugated to concept, but should be described as it is.