This report，taking the content of collective bargaining in the Labor Contract Law as the starting point，discusses the emergence，historical evolution，theoretical and legal backgrounds，and actual experiences of the collective bargaining system，as well as its role in and significance for the development of harmonious and stable labor relations. In light of the reality in China at the current stage of development，the report focuses on the role of trade unions in the process of collective bargaining and the prospect of development of collective bargaining system in China. The reports also tries to clarify，from both theoretical and practical perspectives，the value of collective bargaining in the coordination of labor relations and promotion of harmonious labor relations under socialist market economy.