Geothermal resources provide green, low‐carbon, and renewable clean energy, with abundant reserves and massive potential for application. The in‐depth analysis of geothermal resources in China, including their distribution and breakdown by shallow, hydrothermal, and hot dry rock (HDR) resources, is made in this study. Using the recent economic reports and state‐of‐the‐art technological solutions, this survey outlines the latest trends in the geothermal power generation in China. The application of geothermal power generation in China is still at an early stage, with the total installed capacity of 27.78 MW. The geothermal power generation technologies, such as dry steam technology, flash technology, binary cycle technology, and enhanced geothermal system (EGS), are briefly discussed and linked to their lucrative implementation sites. In particular, Tibet's Yangbajing is considered to be the most lucrative site for the EGS pilot project. The comparative analysis of low‐cost/large‐scale geothermal power generation technologies, such as low‐ to medium‐temperature one, solar‐geothermal hybrid one, and geothermal power generation in mines, was made, whose results strongly indicated the EGS technical and economical advantages. The concentration of 96% of China's population in the area to the east of Hu line affects the perspectives of high‐cost geothermal projects and has to be accounted in the comprehensive analysis of available data. Based on the revealed trends of geothermal resources’ development in China, the following guidelines are strongly recommended: comprehensive incorporation of geothermal energy generation into China's national energy and climate improvement plans, the rapid implementation of HDR technology, as well as comprehensive adaptation of the geothermal‐related projects to the local conditions/biased distribution of power consumers and state‐of‐the‐art challenges of power consumption.