It is a widespread famous school song with distinctive ethnic features. It is produced in the early years of Republic of China (1912), became popular in the 20s and 30s of 20th century.

Honestly, I learned this beautiful song/music in primary school and have believed since then this is an ancient song written 2000 years ago in Han Dynasty. I did not realize it is actually not that ancient until I planned this post and searched information online.