Starting from the establishment of the guiding case system in December 2010, the Supreme People’s Court of China has issued 31 guiding cases. This article discusses the background, purposes and functions, ways to function, and effects of the guiding case system. It compares it with ancient Chinese guiding case systems, and the common law system from these perspectives. Based on the analysis of these comparisons, this article argues that the current guiding case system is neither an extension of the ancient Chinese guiding case systems nor a transplant of the common law system. However, the current guiding case system and common law system have the tendency to become more and more similar systems in reality.