Carbon capture, utilization, and storage (CCUS) has been deemed as a necessary choice of the last mile in realizing carbon neutrality. Currently, the high cost of CCUS is still a major barrier for commercialization. In this review, we hope to explore the commercial development potentials of CCUS in China basing on carbon trading mechanism, and meanwhile clarify the key factors impacting the commercialization of CCUS. CCUS is proved to be increasingly important for China's carbon emission reduction from 2025 to 2060, and was predicted to contribute a CO2 emission reduction potential of around 930 million tons of CO2 in 2025, and this figure will increase up to 11.82 billion tons in 2060. There are two key factors affecting the commercialization of CCUS, including carbon price and if CO2 stored by CCUS projects cane been recognized as carbon credit.