Chang Chien (1853-1926) was a native of Nantung, Kiangsu. In spite of various works on Chang Chien, which testify to the significance of his role in modern China, Chang Chien’s thought on economic development is still not well researched. The purposes of this paper are firstly to analyze Chang Chien’s thought on economic development systematically and clearly in the hope that it may become a useful reference for researchers in modern China, and secondly to stimulate scholars for further research. This paper depends more on basic source materials rather than second-hand data. Among various source materials, Chang Chien’s Diary, The Nine Records of Chang Chien and The Complete Work of Chang Chien are the most important. Chang Chien’s thought on economic development may be summarized as follows: 1) industry as basis of education and as a means of saving China; 2) well balance of the development of agriculture, industry and commerce; 3) return of profit from the foreigners; 4) self sufficiency of raw materials and full exploitation of natural resources; 5) establishment of modern banks for economic development; 6) utility of foreign loans in profiting enterprises without losing sovereignty; 7) extension of the gentry’s function to new field of industry; 8) balance of superstructure of politics and basis of industry.