《洪水報》、《赤道》皆是左傾刊物，在1930年代的台灣是不容許公開流傳的，兩刊物的刊行時間也都很短，但在台灣文學研究上，其位置卻是不容忽視的。本文討論此二份期刊對中國文學作品之轉載情形，清楚看出台灣左翼與中國左翼在30年代的連結關係，思考在日本統治台灣三十五年後，何以台灣左翼刊物轉載了中國之作，與對岸遙遙相呼應，極力傳播無產階級思想？同時觀察這兩份一南一北的刊物其同中殊異之處。《洪水報》轉載的作家作品及文學刊物與《赤道》不同，《洪水報》與創造社並無多大關係，《赤道》報則較密切，其轉載之刊物，如《創造月刊》、《流沙》、《文化批判》、《我們》都與創造社關係緊密。透過上述的檢討，進而論析台灣文學界與中國創造社的關係，理解郭沫若、郁達夫等作家作品在日治台灣文壇傳播流動的現象。另外，本文亟力於追索文章轉載之出處，因此可進一步對《洪水報》、《赤道》予以校勘、補遺、訂謬。

”The Flood” and ”The Equator” are both left-wing magazines, which are prohibited in Taiwan during the 1930s. And both of which did not last long. But their importance and significance cannot be neglected in Taiwanese literature. This essay first of all focuses on Chinese literary works reprinted in these two magazines, which will exhibit the relation between Chinese left-wing and Taiwanese left-wing during the 1930s. The leading question will be this: how is it that, after Japan has colonized Taiwan for more than 35 years, there were magazines which advocate proletarian thoughts by reprinting Chinese literary works? At the same time, this essay compares the similarities and differences between these two magazines. For example, whereas ”The Flood” has little to do with ”The Creative” Society, the magazines reprinted by ”The Equator”, such as ”The Creative”, ”The Quicksand”, ”The Cultural Criticism” and ”We” are closely related to ”The Creative Society”. Via this kind of discussion, this essay aims to analyze the relation between Taiwanese literature and The Creative Society in China, and thereby to understand writers such as Mo-Ruo Guo and Da-Fu Yu and their works in Taiwan during Japanese occupation. Finally, since this essay strives to identify the sources of those reprinted works, this also proofreads and corrects ”The Flood” and ”The Equator”.