Based on historical records from Huizhou, this paper calculates the annual ratio of investment and profit on the absolute sales of paddy land was 6.67% prior to the Qianlong period.

• 摘要清代徽州购买水田（绝卖）的年度投资回报率仅为6.；67%25，而所举五个一般商业投资实例的年度投资回报率则在9-18%25之间。