There are two versions of Jin Ping Mei: one is the script (i.e., the Tzu Hwa edition); and the other is the one with embroidered pictures (the Hsiu Hsiang edition). The academic circle had studied the two versions for a long time. Most of them were focused on the publication sequence and their influences on each other. There were rarely researches from a literary aspect to examine the differences of the two versions. Some scholars had argued, ”The two editions of Jin Ping Me represent two types of literature.” However, they did not receive much support. This article tries to prove that the two versions of Jin Ping Mei could be deviated from (or initiate) two lines of literary development from Ming to Ching Dynasties.