China has formed a complete and packaged system of domestic petroleum refining industry. Till 2020 the demand for petroleum products in China will record a sharp growth. However, China is currently confronted with a shortage of oil resources, unsatisfactory quality of petroleum products, a widening gap between demand and supply of steam cracking feedstocks, and a stern situation in environmental protection. In this context the petroleum refiners of China, while taking into account the actual conditions, should seek for the way of deep processing to produce transportation fuels and chemical feedstocks that can hardly be replaced by other energy forms, continue to bring into full play FCC process as core process for making finished oil products, speed up the development of hydrocracking to achieve integration between refining and chemical production, adopt measures that can combine feedstock pre-treatment, novel FCC technologies and after-treatment of products to improve the quality of finished products, as well as realize the recycling of wastewater and control over air pollution caused by SOx to accelerate the development of petroleum processing industry in China. China has formed a complete and packaged system of domestic petroleum refining industry. However, China is currently confronted with a shortage of oil resources, unsatisfactory quality of petroleum products, a widening gap between demand and supply of steam cracking feedstocks, and a stern situation in environmental protection. In this context the petroleum refiners of China, while taking into account the actual conditions, should seek for the way of deep processing to produce transportation fuels and chemical feedstocks that can hardly be replaced by other energy forms, continue to bring into full play play process of core process for making finished oil products, speed up the development of hydrocracking to achieve integration between refining and chemical production, adopt measures that can combine feedstock pre- treatment, novel FCC technologies and after-treatment of products to improve the quality of f inished products, as well as realize the recycling of wastewater and control over air pollution caused by SOx to accelerate the development of petroleum processing industry in China.