China’s chemical fiber volume ranks first in the world and is a pillar industry of the national economy. However, there are still prominent problems regarding the development of the chemical fiber industry and promoting the advanced fundamental fiber materials has become the key to the high-quality development of the chemical fiber and textile industries. This study focuses on three types of advanced fiber materials: differential fiber, high-performance fiber, and bio-based fiber. The status, challenges, and development trends of the advanced fiber materials in China are analyzed. On this basis, the key tasks for the future development of the advanced fiber materials are summarized, including developing key technologies to form representative products, improving the intelligent manufacturing level, strengthening the independent innovation capacity, and enhancing the training of scientific and technological talents. This study also proposes development suggestions from the aspects of industrial development strategy, scientific and technological innovation system, the role of science and technology, internationalization of key enterprises, and coordinated development, hoping to provide a theoretical reference for the high-quality development of China’s fiber materials industry.