This paper studies about the periodicals of selected works such as Selected Stories,Story Monthly,which play an important role in contemporary Chinese literary world.

The existence and its artistic managing idea of Selective Periodical of Children Literature provide the important stage and space for them to create their literature works and grow.

Faced with commercialization, the changes of state policies concerning literature, diversity of modern mass media and publication, and shift of fashion and reader s interest, and perhaps more importantly, the lack of sensational effect that the works they carry can produce, literary journals are on the verge of distinction.

Based on the description of the development of the literature in the new century, this paper analyse the current situation of literary journals and points out that literary journals should have their awareness of both subject and market.

Contemporary literary journals can not only timely carry new works of writers but also well administer literary creation and literary critics nationwide so as to establish a unified literary setup.