This paper summarizes the current situation of magnesium and magnesium alloy industry, application and standard system construction. As the leader of global magnesium resources, China has developed rapidly in magnesium and magnesium alloy research, development and production technology in recent years. However, it still faces many problems, such as extensive production process, poor product quality stability, lack of high value-added product types, and small downstream application scale. Therefore, it is particularly important to strengthen the construction of magnesium and magnesium alloy industry standard system. Combined with the current situation and shortcomings of the construction of the industrial standard system, we should build a simple, clear, complete and highly collaborative standard system to promote the development of magnesium and magnesium alloy industry to a higher level, and then improve product quality and international competitiveness.