Two words that varied in their relationship were presented sequentially to Chinese readers who made meaning and pronunciation decisions. In the meaning task, they decided whether the words had the same meaning. In the pronunciation task, they decided whether the words had the same pronunciation. In both tasks, the word pairs represented 1 of 4 relationships: graphically similar, homophonic, semantically related, or unrelated. Event related potentials (ERP) recordings made from the onset of the 2nd word suggested a temporal unfolding of graphic, phonological, and semantic effects. Specifically, graphically-related pairs produced a smaller P200 in the pronunciation task and a smaller N400 in the meaning task. Homophones produced reduced N400 component with bilateral sources in the meaning task.