Abstract: This paper deals with the stand growth,development and economic return of black wattle(Acacia mearnsii) planted at spacings ranging from 1 m×1m to 2 m×2m at the age of 5 years old.The results showed that the height,diameter increment and economic return(judged by output/input) decreased as density increased;bark and wood yield per unit area increased with the increase of stand density while their increment ranges were smaller in old stands.The stands planted with denser spaeings matured earlier and their thining time was earlier too.Stands of lower densities(treatment A and B) are desirable for producing bark and timber.On the other hand,stands of higher densities(treatments C,D and E) are suitable for establishing fuelwood plantations.