Abstract: For there exist a lot of Mesozoic and Cenozoic depositional basins of different types, China's Mainland should be very rich in oil and gas resources. The basins are all subjected to multistage tectonic movements and different types of basins' superimpositions, so they have the long-term, complexity and great difficulty for petroleum exploration. In terms of the most conservative estimation, its remained oil recoverable reserves could have been recovered till the year of 2063, while its natural gas till the 22nd century. At present, most domestic basins are generally in early-middle stage for petroleum exploration. Foreland basin, palaeouplift and its surrounding strati-lithology reservoirs, marine facies reservoirs of Palaeozoic and shallow secondary reservoir in area of Bohai Bay basin and etc. will be its major petroleum prospecting domains. New- and high-tech application tends to be of revolutionary significance in light of their effects on petroleum industry development. As long as insisting to sustain exploration, China's petroleum industry is undoubted to achieve continuous development. Hence, the five recommendations are proposed by the author of carrying out as early as possible a new round assessment for petroleum resources, intensifying comprehensive study, solving some critical issues in technique and technology, applying comprehensive exploratory technologies and adopting view points of risk-exploration.

Key words: China, oil and gas potential, tectonic movement, petrolefious basin, remain recoverable reserve, oil and gas exploration