Abstract: China’s coal trusteeship industry, as a product of the era of great development of market economy and prosperity of coal industry, has a history of nearly 20 years since its formation.Throughout its development process, it can be divided into four periods in chronological order, namely, the embryonic stage(2002-2006), the policy promotion stage(2007-2013), the market regulation stage(2014-2015) and the standardized operation stage(2016-).In the process of the development of the coal custody operation industry from the beginning to the adjustment of the norms, the undertaker and the principal are also changing.The development of the coal industry, market trends and policies and decrees play an important role in the development of the coal custody operation industry, playing a “baton” role.The paper analyzes the current situation of the coal mine trusteeship operation industry in China, summarizes the current situation of the coal mine trusteeship undertaker and the principal part of the entrusting party, and introduces the distribution, production capacity and owner of the trusteeship mines.Based on the analysis of the development process and characteristics of coal mine trusteeship operation in China, this paper points out the problems existing in the industry of coal mine trusteeship operation, mainly including:malicious competition in the development of trusteeship operation market, unequal relationship between the undertaker and the entrusting party, uneven operation level of the undertaker, and lack of uniform standard in the industry.Finally, the development trend of China’s coal custody operation industry is predicted.With the continuous improvement of the regulatory system of the coal custody operation industry and the continuous optimization of the undertaker and the principal part of the client, the coal custody operation mode will gradually develop in the direction of “full mine custody” which is more conducive to safety management.