Abstract: Petroleum is the largest energy in the world. To preserve its security of supply has become an important problem of all the nations. The financial crisis has not only had a serious impact, but also given opportunities to China's strategic Petroleum Reserves. China has not set up a complete system of Petroleum Reserves, and to set up the perfectly system as soon as possible to protect China's energy security is an important step. Currently, setting up the system of China's Petroleum Reserves has faced a number of questions. We request the protection of the domestic policy regime, but also based on the effective operation of the petroleum market and to take an export-oriented, multi-level strategic Petroleum Reserves.