Abstract: The acceleration of the energy transition is driven by current geopolitical conflicts and climate and environmental challenges. It is crucial for China to construct a new energy system adapting to these changing circumstances for the sustainability, security, and stability of the energy supply system. At present, fossil fuels still dominate the China’s energy demand. There are energy security issues due to lacking oil and gas resources, and new energy technologies. China will still maintain a high dependence on coal energy in short term, consequently, prompting the clean and efficient conversion of coal is vital for developing a new energy system. In this paper, the specific connotations and develop direction of the new energy system are identified, and then the development status, opportunities and challenges of the China’s coal chemical industry in the new era are presented, also the suggestions for improving the technology of clean and efficient coal conversion and the future development of coal chemical industry are put forward. The new era has endowed the new energy system with more connotations, that is the future energy system should be characterized by “safe and efficient, clean and low-carbon, diverse and synergistic, and intelligent and accessible”. In addition, the new era will put forward higher requirements for the clean and efficient development of the coal industry.Although China has made significant achievements in the clean and efficient conversion of coal, the key technologies still need some breakthroughs.Combining the systematic understanding of the relationship between the transformation and development of the coal industry and the “dual carbon” goals, and in the context of the construction of a new energy system, the promotion of clean and efficient coal conversion is of great significance for social and economic development and helping to achieve the “dual carbon” goals. The key lies in strengthening the basic research of relevant disciplines and specialties in this field, as well as the innovative development of clean and efficient coal conversion technologies.