This article takes the Crescent Moon monthly magazine as an example to explore the
variations in modern Chinese cultural ecology, the patterns and characteristics of modern societybased
literary schools from the perspective of “Coterie Journals”, “Coterie Literature”, and “Coterie
Culture”. “Coterie Journals” can be regarded as “Coterie Media”- an independent, autonomous and
folk “collective media” in contrast to highly organized and corporate media. Through the entire thirty
years of modern Chinese literature, “Coterie Journals” have experienced a period of prosperity and
diversification, a decline period with noticeable “semi-coteriezation”, and a stage of development when
their “legitimacy” eventually disappeared. The media operations and dissemination activities of The
Crescent Moon magazine typically reflect the inherent connections and interaction methods between
modern Chinese “Coterie Journals”, the generation of literary schools and literary production.