The bioeconomy, also known as the bio-based economy, refers to the economic activity involving the use of biotechnology and biomass in producing goods, services or energy. It aims to reduce the dependence on fossil fuels in the energy and industrial sectors. Bioeconomy has been widely accepted by different countries and regions as a critical strategy for coping with fossil fuel shortage and climate change, among other environmental problems. Bioeconomy mainly utilizes biomass resources to generate bio-based products. In terms of biomass resources, they can be divided into three generations. The first-generation biomass resources, primarily edible biomass materials, present an issue of “competing with people for food/land.” The second-generation biomass resources are derived from non-edible sources, mainly lignocellulosic materials, which are accompanied by immature processes for their efficient conversion into valuable biofuels and other high-value bioproducts. Thirdgeneration biomass resources represent an emerging frontier in the world of sustainable bioenergy and bioproducts, primarily consisting of algae or rapidly synthesized biomass achieved through advanced cell engineering techniques. This report focuses on bioenergy, bio-based chemicals, bio-based plastics and bio-based macromolecular materials (textiles and paper) in technical conversion, highlighting the resources, dominating technical routes, challenges and prospects.