Abstract: The transformation of property rights from static to dynamic in commercial transactions can be reduced to the expression of “economic factor transaction relations ” “commercial transaction relations” “commercial relations”, so that commercial relations show the internal structure of the commercial relations contractual “point-chain-group”. Commercial relations thus have three layers of values: internal values, transformative values and external values adapted to the social system, which lead commercial relations to form a three-dimensional boundary with the protection of private rights as the origin, and respect for commercial autonomy, promotion of commercial transaction efficiency and maintenance of transaction security as the axis. The norms of commercial law emerge from the structure of commercial relations and evolve in accordance with their dynamic development. The direction of the reform of commercial law norms is subject to multiple researchers’ perceptions of the order of values of commercial relations. Commercial relations should be a type of private relation between an ongoing business of capital aggregation and other equal actors through the exchange of values for profit. The transformation of commercial law has led to the incorporation of commercial relations into the genus of private law relations and to their regulation by commercial law.