In the face of the coal-dominated primary energy structure, increasing energy demand, and serious air pollution, the sustainable development of energy system integrated resources, energy and environment is the direction of China’s energy strategy. This paper introduces a new technology of coal conversion and utilization based on coal staged conversion technology on the concept of “coal is not only energy but also resource”. From the aspects of energy conservation and emission reduction, the development of this technology is prospected. It is pointed out that this technology can improve the comprehensive efficiency of coal power generation, changes the industrial structure and forms a new industrial chain, and ease the shortage of oil and gas in China. It is of great significance to change and optimize the structure of China coal power industry, cyclic economy and energy conservation and emission reduction.