From the review of the achievements and advantages in the development of biotechnology (BT) and bioindustry in China, it is clear that the bioeconomy would provide a tremendous opportunity for China to develop sustainably or even surpass a few developed countries. A long-term vision has been made to guide the research and development and industrialization of BT in China. This review detailed the strategies, targets, priorities, and key technologies in each stage. Furthermore, the reviewers expatiated on the establishment of the favorable policies, the foundation of the professional groups, the establishment of the advanced laboratories or centers, the investment mechanisms, the development and evaluation of biosafety, the encouragement and support for the international collaborations and exchanges, and the establishment of the general organizational structure.