Abstract：The identity of Gui-de’s businessmen in late Ming dynasty was mostly the immigrants from early Ming dynasty. These immigrants turned to business or part-time business due to the hopelessness of the imperial examination. The production mode with agriculture and ecological environment of Yellow River flood limited the independence and development of Gui-de’s businessmen, which resulted in the most of them turning to the imperial examination again, laying an economic foundation for the prosperity of the imperial examination and the official families of Gui-de prefecture in late Ming dynasty.

Keyword：Ming dynasty; businessmen of Gui-de prefecture; social changes; epitaph;