The development of business groups in China was reviewed to understand the evolution of the conception of business groups in our country and its influence and analyze the problems and challenges that Chinese business groups are meeting.   It is pointed that the meaning of business groups should restore to its original meaning: business groups are a cooperation ally and are not cooperation indeed.  From this concept, diversified divergences among the concepts of business groups could be eliminated,  especially different problems caused by these divergences would be avoided or solved effectively.