This is a three-part study of the relationship between Chinese Buddhism and the construction of ethics. The first part provides an introduction to the basics of Buddhist ethics -- the principles of refraining from negative actions and embracing the positive; equanimity; loving kindness; compassion; benefiting both oneself and others, as well as lists of virtues such as the Five Precepts, Ten Positive Actions, four Amicable Qualities, and Six Perfections. Next,the paper analyzes the restructuring of Chinese Buddhist ethics, i.e., establishing, by means of omission, revision, comparison, inference,and supplementation, a unique system of ethical thought adapted to ancient Chinese society and Confucian ethics. This had a positive historical impact on the societal,professional, and family ethics of ancient China and strengthened Confucian ethical thought. Then the author moves on to explore, from five different perspectives, the value of Buddhist ethics in the construction of contemporary ethics:resolving modern cultural crises, establishing awareness of social responsibility; role models provided by the personalities of highly-accomplished Sangha and lay practitioners; the value of basic Buddhist ethical principles; and the universal significance of Buddhist ethics. The study concludes with a categorical affirmation of the value and significance of Buddhist ethics in modern society.