This article first summarizes and then criticizes five different understandings of time and temporalities in the Western world. It then proceeds to propose five other understandings of time and temporalities: the cumulative developmental time derived from the natures of the economic and military power, the pluralistic time arising from the natures of ideological power, the increasingly prevailing political time due to the natures of the political power, the cyclic Daoist time, and the compound time of the empirical world (compound of the cumulative developmental time, pluralistic time, prevailing political time, and Daoist cyclic time). This article discusses the empirical relevance of my five understandings of time and tries to establish two arguments: First, the essence of historical sociology is not to study past happenings, but to organically combine the chronology/time-based narrative of history and structure/mechanism-based narrative of sociology. Second, establishing a Chinese ontology of time is a way to develop social sciences with Chinese characteristics.