The guild of foreign trade was one element of system of modern foreign trade, which changed from classification of goods to classification of industry. The operation of foreign trade was triggered by transaction among the guild and other factors of the foreign trade system. Shanghai Guild of Foreign Trade was found in March 1946. At that time, the policy of foreign exchange freely and foreign trade freely was implemented, so the foreign trade merchants could make money easily. The guild wasn’t necessary for those merchants’ business and it didn’t play an important role for the process of foreign trade. However, since November 1946, the government of the Republic of China carried out the policy of foreign trade restrictions, the foreign trade merchants struggled with the government with the help of the Shanghai Foreign Trade Guild, which demonstrated the function of the Guild had been simplified and the Guild had not been acted as intermediate organization. The dilemma of the Guild reflected the difficulty of the transformation of the modern foreign trade system.