Abstract: Objective In the context of the national "dual carbon" strategy goals, China is accelerating the construction of the natural gas production, supply, storage, and sales system. The LNG receiving terminal industry is facing new challenges and opportunities. Exploring innovative development strategies is of significant practical importance for promoting the sustainable development of the LNG receiving terminal industry. Methods Based on a comprehensive review and comparative analysis, this article study systematically examines the development of China's LNG industry, industry data of LNG receiving terminals, and analyzes relevant national policies related to the LNG receiving terminal industry in recent years. It thoroughly reveals that China's LNG receiving terminals currently face three main core risks and challenges: increasing uncertainty in the external environment, industry overcapacity, and a lack of richness in service products. Results The proposed innovative development strategies for the LNG receiving terminal industry, such as vigorously developing high-growth businesses like gas storage, exploring integration into the coordinated operation of the substance-energy network, promoting industry integration and coordinated development, refining product classification to enhance resource value, and building digital platforms to improve fairness and openness, are practically operable and can provide reference for the high-quality development of the LNG industry.Conclusion The research findings are practical and actionable, providing valuable references for improving the operational efficiency of China's LNG receiving terminals and promoting diversified market competition.