The latest advancement of COflooding and sequestration theory and technology in China is systematically described, and the future development direction is put forward. Based on the geological characteristics of continental reservoirs, five theories and key technologies have been developed:(1) Enriched the understandings about the mass transfer characteristics of components between COand crude oil in continental reservoirs, micro-flooding mechanism and sequestration mechanism of different geological bodies.(2) Established the design method of reservoir engineering parameters, injection-production control technology and development effect evaluation technology of COflooding, etc.(3) Developed a series of production engineering technologies such as separated layer COinjection technology, high efficiency lifting technology, on-line wellbore corrosion monitoring and protection technology.(4) Innovated a series of surface engineering technology including COcapture technology, pipeline COtransportation, COsurface injection, and production gas circulation injection, etc.(5) Formed a series of supporting technologies including monitoring, and safety and environmental protection evaluation of COflooding reservoir. On this basis, the technological development directions in the future have been put forward:(1) Breakthrough in low-cost COcapture technology to provide cheap COgas source;(2) Improve the miscibility technology between COand crude oil to enhance oil displacement efficiency;(3) Improve COsweeping volume;(4) Develop more effective lifting tools and technologies;(5) Strengthen the research of basic theory and key technology of COstorage monitoring. COflooding and sequestration in the Jilin Oilfield shows that this technology has broad application prospects in China.