Between 1927 and 1928, Shen Congwen 沈從文, Hu Yepin 胡也頻 and Ding Ling 丁玲, three comrades who began their writing careers in Beijing, one after another moved to Shanghai and founded the publishing company Red and Black 紅黑. In January 1928, they began to publish a literary magazine with the same title. Although Red and Black only lasted for eight issues due to poor financial support and divergent literary philosophies, its publication sheds light on many interesting phenomena of the late 1920s, and it marks a turning point in the thought of the period. First of all, the title of the magazine, Red and Black, demonstrated the romantic enthusiasm educated youth of the time had toward "literature" and "revolution." Second, the year 1929 saw an important transition in the writings of Shen Congwen, Hu Yepin and Ding Ling, which is evident in the work they published in Red and Black. Third, by comparing their works, one can observe differences in their thought and literary expression, as well as in their dialogue with Chinese literary circles and their views on the reality of the revolution. This article's examination of the Red and Black focuses on the above three issues. It discusses the rich literary views presented in this publication and describes how it sheds light on the interactions between literature, society and history