Floral germplasm resources constitute the strategic foundation for the high-quality development of the flower industry and represent a key component in advancing the vision of Beautiful China and ecological civilization. Germplasm resources provide the material source for flower breeding, while variety innovation serves as the cornerstone for developing a modern flower industry. Therefore, it is of great significance to review the progress in research on flower germplasm resources and new variety breeding in China and to summarize and analyze future development directions. This study summarizes major advances over the past two decades in the collection, preservation, evaluation, utilization, and new variety breeding of flower germplasm resources in China, analyzes current challenges, and proposes recommendations for future development. This study reveals that remarkable achievements have been made in resource investigation, molecular evaluation, and functional gene mining of floral germplasm resources. In terms of new variety breeding, the market share of independently developed flower varieties continues to grow. However, challenges remain, including insufficient systematic collection of germplasm resources, limited coverage of in-depth evaluation, inadequate protection of breeding rights, and reliance on imports for certain new varieties. For the future, it is recommended to further strengthen the national survey and preservation system for floral resources, promote the development and industrial application of molecular breeding technologies, improve the new variety protection system, and deepen industry–academia–research collaboration mechanisms, so as to provide a solid support for the high-quality and sustainable development of China's floral seed industry.