Abstract: Tungsten resources belong to China’s advantageous mineral resources. However, after years of continuous mining, its consumption rate is relatively fast. Based on the statistical data related to tungsten resources from 2014 to 2023, a time series and multidimensional comparative analysis is conducted on the changes in global and China’s tungsten reserves, development and utilization status, mining rights allocation, and production and consumption. The import and export situation of China’s tungsten resources is also calculated and the trade flow is analyzed. The conclusion drawn through research is that the global tungsten resource reserves reach 4.4 million tons, with China ranking first in tungsten resource reserves. The static guarantee capacity of China’s tungsten resources is about 36 years, which is far below the global average level. China’s investment in tungsten resource exploration has gone through a process of first decreasing and then stabilizing from 2014 to 2023. The overall investment in exploration has been stable, but the reserves have decreased by 4.80% on year-on-year basis since 2019. Although the overall development and utilization have remained stable, the capacity utilization rate and production rate have always been at a relatively low level. The continuous decline in the exploration and mining ratio of mining rights indicates the high difficulty of discovering new tungsten mining rights and the rapid consumption of existing resources. The total amount of tungsten mining under national control has shown a continuous and slight upward trend, and the rate of overexploitation has gradually been curbed. The overall import and export of tungsten resources in China has remained stable, with a significant decrease in the export of tungsten ores and concentrates. The export volume is mainly targeted at developed countries or regions, with South Korea, Japan, and the United States accounting for over 60% of the total. The import volume is mainly concentrated in Asia. Suggest adopting advanced exploration techniques and methods to improve the effectiveness of tungsten ore exploration work, striving to discover more and higher grade tungsten resources. Excavate the production capacity of existing tungsten resources and optimize the production capacity structure. Establish a standard system for tungsten resource recycling and utilization, strengthen tungsten resource recycling and reuse through technological innovation and financial investment. The tungsten industry should increase innovation investment, strengthen the promotion and application of advanced technologies, and promote the transformation and upgrading of the tungsten industry.