In the historical context of the collision of Chinese and Western cultures and the transformation from classical to modern literature, and under the inspiration of the spirit of the times, modern Chinese literary criticism pays attention to the sense of independence, the spirit of dialogue and the function of interaction. On the premise that aesthetic pursuits and value interests are not always identical, critics of modern Chinese literature utilized various social, historical, moral and ethical concepts, analyzing the specific, dynamic and universal aesthetics in the works. This has led to a modern conception and function of criticism. Modern Chinese literary critics, with their independent spirit of criticism, have built up a rich variety of types of criticism, a different yet harmonious pattern of criticism, and a wide and open space of criticism. These are important experiences and valuable resources indispensable for the further development of today’s literary criticism.