Abstract: In recent years, Australia has actively promoted the development of its critical minerals industry by adopting a series of critical minerals financing incentives, promoting the landing of a number of critical minerals projects, effectively increasing the output value of the critical minerals industry, and to a certain extent reshaping Australia’s competitive advantage in the global critical minerals industry chain. In order to improve the level of China’s response to the changes in the competitive pattern of the international critical minerals market, and to help China enhance its supply and guarantee capacity of strategic mineral resources, with a method combing literature analysis and empirical research, this paper analyzes the main content and characteristics of Australia’s critical minerals financing incentives, examines the potential impact of Australia’s critical minerals financing incentives on China, and raises suggestions for enhancing supply and guarantee capacity of strategic mineral resources in China from the perspective of response and reference. The study shows that Australia supports enterprises to invest in its critical minerals industry by launching critical minerals strategies, establishing financing facilities, putting forward tax incentive policies, providing competitive grants, and developing a mining capital market, etc., which is characterized by professional management institutions, large-scale financial support, focusing on support for exploration and processing and manufacturing, and seeking extensive international cooperation. Australia’s relevant financing incentives may have an adverse impact on China’s strategic mineral resources and its downstream industries, and at the same time, it may have an unfavorable impact on the maintenance of China’s overseas critical minerals investment rights and interests. Based on above analysis, this paper puts forward the suggestions of improving the motivations of mineral exploration, enhancing the financing incentives for critical minerals, implementing differentiated international cooperation strategies, and improving core competitive advantages to enhance China’s supply and guarantee capacity of strategic mineral resources.