Abstract: The operation situation of superabrasives industry is briefly analyzed according to 5 tables and 21 figures, which cover some data of Chinese macro economy, the main indexes of the industry, the productions, imports and exports of superabrasives and the semi-annual reports of listed companies in the first half of 2017.It is found that indexes of the industry, such as product sales revenue (increase 22%), export value (increase 20%) and total profit (increase 16%), all increase by more than 10%.Export volume is grown by 25%and its value grown by 18% according to China Customs statistics.All these data indicate that markets, both domestic and international, are improved, in reverse to the decline of the industry economy in previous two years.They also shows the recovery of the industry economy, which is due to transformation and upgrading effect and product structure improvement.However, the inventory, which basically remains unchanged, still faces a heavy pressure.According to the international market, China's synthetic diamond and diamond saw blade have reached the advanced level of the world while grinding wheel and cutting tool share little portion, which means that there is a huge space for their innovation and development.