Socialism is an economic and political system where the means of production, distribution, and exchange are owned or regulated by the community as a whole, aiming to achieve greater social and economic equality. In the context of early 20th-century China, socialism emerged as a response to the failures of imperial rule and the socio-economic disparities experienced by the masses. It sought to provide a framework for addressing issues like poverty, exploitation, and unequal wealth distribution, particularly during transformative periods such as the Republican era and movements advocating for national rejuvenation.