本文採取新國家論 (neo-statism) 觀點，試圖對清末民國初的國家建立過程和政商關偉、演變作一釐清。按清政府在1902-4年推動的現代商會改革，是諸多國家制度改革中的一環，且可能是最成功的一部份。滿清覆亡後，可惜袁世凱未能善用商會和參議會來凝聚商界和社會上層力量，繼之以稱帝而喪失全國民心。袁氏在財政上的處置失當，也使中國和交通銀行脫幅而去，並和上海總商會結合，而有很好的經濟表現。唯此時受蘇聯革命成功之影響，左派意識形態抬頭，國民黨和共產黨乘勢而起。國民黨在北伐過程中，實施清黨，同時也以強制力汲取商界資源，引發了嚴重的政商衝突。

From the viewpoint of neo-statism, this article attempts to explore interactions between the process of state-building and the development of business associations from 1904 to 1932. In premodem Chinese society, traditional guilds were significant in performing political-economic functions. In the 1898 Reform Movement, Ch'ing Dynasty was determined to reconstruct the Empire in line with the principle of sovereignty state and change traditional guilds into modern business associations. After the collapse of Ch'ing Dynasty, new business associations kept growing. During the failure of Yuan Shih-k'ai's rule, business associations acquired more autonomy in Shanghai and other metropolitans. However, for encountering the radical unions, the Chamber of Commerce supported Chiang Kai-shek to purge communists. After this event, however, Chiang put business associations under government as subordinates and absorbed their resources for state building in military actions.