Abstract: The course of phonological and semantic activation of spoken words was hot issue of cognitive psychology and psycholinguistics. Recently two hypotheses emerged：exhaustive access theory and context-dependency hypothesis. In this paper，Chinese words without initial syllables were used as target words to address the process of the phonological and the semantic activation of Chinese spoken words interpretation. Two experiments are included: In Experiment 1，the factors that influenced the comprehension of the spoken words were investigated；In Experiment 2，the context-dependency effects in the early phase of the comprehension is addressed. The results showed that：(1) the interpretation of Chinese spoken words without initial syllables were affected by both the phonology of spoken words and semantic contexts of sentences；(2) the sentence semantic contexts acted on the beginning of the interpretation of Chinese spoken words without initial syllables and affected the interpretation all along.

Key words: exhaustive access, context-dependency, phonological activation, semantic activation