Abstract：From the perspective of the New Institutional Economics, this paper analyzes the institutional arrangement and its imperfection of natural resources exploitation and government in China, then pointes out that a rational and effective institution of natural resources exploitation and use is the institutional base to accomplish economic sustainable development. In order to promote sustainable development, China should continually take the innovation of natural resources multi exploitation and use institution, specially accelerating the innovation on natural resources institution of property right, use, accounting and industrial development, readjustment of resources trade strategy and the innovation of natural resources value theory and concept.
