Smart grid has become an inexorable trend of energy and economy development worldwide. Since the development of smart grid was put forward in China in 2009, we have obtained abundant research results and practical experiences as well as extensive attention from international community in this field. This paper reviews the key technologies and demonstration projects on new energy connection forecasts; energy storage; smart substations; disaster prevention and reduction for power transmission lines; flexible DC transmission; distribution automation; distributed generation access and micro grid; smart power consumption; the comprehensive demonstration of power distribution and utilization; smart power dispatching and control systems; and the communication networks and information platforms of China, systematically, on the basis of 5 fields, i.e., renewable energy integration, smart power transmission and transformation, smart power distribution and consumption, smart power dispatching and control systems and information and communication platforms. Meanwhile, it also analyzes and compares with the developmental level of similar technologies abroad, providing an outlook on the future development trends of various technologies.