According to the great demand for the "green" plastics processing technology of the low energy consumption, high efficiency and environmental protection in plastics industry, the plastics processing method and technology based on the elongation rheology, with continuing evolution and innovation of the plastics plasticating and conveying method, are presented and researched on the basis of the plastics dynamic processing method and equipment, and it is focused on that the plastics plasticating and conveying process in the vane extrusion system, the technical characteristics of that and the applications of vane plasticating and conveying technology are discussed. The research results show that compared with the conventional processing equipment, this new technology and equipment shows many outstanding advantages, such as shortening the thermo-mechanical history of the plastics processing more than 50 %, reducing the energy consumption 30 % or so, improving the mixing and blending effects, improving the quality of the products and the adaptability to materials, etc., and it is meanwhile found that the new technology and equipment has special superiority in the fields of the processing for material systems, such as the multiphase and multicomponent composite materials, the shear heat sensitive macromolecular materials, etc.