Wafangdian area of Liaoning Province is an important diamond-producing area in China. Since the important breakthrough made in the 1970s, the integration of the exploration and development has achieved remarkable economic and social benefits. Since the beginning of the 21^st century, the diamond industry development in the area has experienced a stagnant period. In recent years, the diamond exploration has made new progress. The innovation of system and mechanism and the construction of the diamond industry comprehensive park are important choices for ‘going out’ policy of China's diamond industry.