China is experiencing a serious shortage of certain mineral reserves, and several important mineral resources are increasingly supplied via foreign imports. This paper proposes urban mining as a promising means of conserving resources and facilitating sustainable economic growth. The author summarizes the origin and meaning of urban mining, and analyzes the development of the ten main types of urban mining in China from 2006 to 2016, which include: scrap iron and steel, scrap non-ferrous metals, electronic waste, and end-of-life vehicles. Next, the author predicts the resource development and utilization potential of urban mining, and evaluates the contribution of urban mining to resource conservation, environmental protection, carbon emissions reduction, and economic development. Based on these analyses, the author presents strategic and policy suggestions to promote urban mining development in China.