This paper reviews the great achievements of forest industry in China since the founding of P. R. China, especially since the exertion of reforming and opening policy. It mainly describes the stratagic status of natural forest protection project and the relationship of the development of wood science and forest industry and natural forest protection project. The paper also disucsses the direction for the development of wood science and technology under the situation of bringing natural forest protection project into effect. Finally it gives constructive suggestion for the implementation of natural forest protection project and development of forest industry in the future.