Abstract: Based on historical records from Huizhou, this paper calcula tes the annual ratio of investment and profit on the absolute sales of paddy land was 6 67% prior to the Qianlong period Meanwhile, in the Ming- Qing dynasties, five ordinary examples of commerce in Huizhou demonstrate that the rate of return on investment ranged from 9 to 18% Purchasing land was one way to invest surplus capitals with the principle and interest safeguarded against price inflation .This was different from commercial investment that a mi ed at higher rates of return .The paper also examines two types of land investment in Huizhou prior to the Qianlong reign, land rent and rent on land that been conditionally sold ( dianmai ) .The annual ratios were 25 73% and 23 49% respectively, but this kind of investment was exceptional and very volatile.