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Hollow fiber membrane (HFM) technology is one of the common key technologies for solving major problems including water and energy crises and environment pollution. It is also crucial for achieving high-quality development characterized by energy conservation, clean production, and improvement in system efficiency and product quality. In this article, the strategic demand, development status, and development trend of the HFM technology and industry are analyzed; the major challenges and innovation focus in its subfields in China are discussed; and the development goals by 2025 and 2030 are clarified. Moreover, four key tasks were proposed in terms of hollow fiber ultrafiltration/microfiltration membrane, high-quality hydrophobic membrane, new membrane technology, and waste membrane recycling. Furthermore, measures and suggestions were proposed in terms of talent management, innovation investment, industry standards, and international cooperation, to provide a reference for the high-quality development of HFM technology and industry in China.