As asymmetric information of current internet purchasing and the client-server model with servo-consumption of information, we design and implement a knowledge management system based on semantic peer network. We use knowledge of internet purchasing to design our ontology, with three general trust mechanisms to enhance the reliability and quality of knowledge. Experimental results show that even we share 20 files, the system can still complete a query within 0.25 seconds, results of semantic search are more accurate, and even if we had transactions of peers with 50% bad peers, the computational error ratio of PeerTrust remains below 35% and the computation error ratio of FileRating remains below 30%.