There are there stages for china’s value engineering research. The first is from the end of the last world to 1987, which is the period of introduction and digestion of value engineering theory; the second is from 1988 to the middle and early 1990s, which is an active period of development of value engineering research and application; and the third is from the middle of 1990s to now, which is a steadily development period. The development of value engineering in China is a portrayal of the progress of China"s reform and opening up. Administrative support is an important driving force for its development, while value engineering application promotes the research and development of value engineering. The theoretical innovation of value engineering by Chinese scholars mainly focuses on expanding the research field of value engineering and improving the analysis methods. Looking forward to the future, we need to strengthen the theoretical research of value engineering, introduce and adopt interdisciplinary research and analysis methods, and strengthen professional education and professional organization construction.