Abstract: The intellectual circles generally agree to such a view that axiological studies started from the 1980s in China. In a sense this assertion ignores some philosophers’ efforts. They started their philosophical inquiries as early as in the 1930s, stressing traditional Chinese philosophy and meanwhile approving of Marxism. In the 1930s and 1940s, indeed, Zhang Dai-nian put forth his original viewpoints around the nature, structure and standard of value. Owing to the epochal limitations, his views remained lopsided, which was later rectified to a certain extent by Feng Qi.

Key words: Zhang Dai-nian, Feng Qi, the theory of value