Abstract: Marine ornamental fish trade, a key component of the marine aquarium trade industry, is worth more than one billion dollars industry with the trading volume reaches millions per year and rising demand, but the industry has been controversial due to current heavy reliance on wild-collected specimens. At present, 90%–95% of marine ornamental fish species are wild-caught, and over half of the known thousands of coral reef fish species are in trade with poor or no monitoring, which poses a serious threat to natural resources. The ornamental aquatic industry and consumers are a responsible to ensure the sustainable development of wild-caught species, and the cultivation of marine ornamental fish is considered as a responsible alternative to protecting wild resources, but there are still many technical constraints that hinder its development. Combining with relevant data and literature, this paper summarizes the current situation and the latest research progress of the international marine ornamental fish industry, discusses the existing problems, and puts forward some feasible solutions, aiming to provide references for the development of China's marine ornamental fish industry.