ABSTRACT China is the world's leading producer of red swamp crayfish ( Procambarus clarkii ). The aquaculture of P. clarkii and its related industry generated annual value over 458 billion Chinese yuan in 2022, contributing significantly to food security, livelihoods, and economic development. This review analyzes the status of the industry, highlighting its biological characteristics, farming practices, economic importance, and challenges. P. clarkii is adaptable and reproduces rapidly, but it is also invasive and disrupts native species diversity. Environmental concerns include water quality degradation and habitat loss. Disease outbreaks and regulatory issues pose additional challenges. Research is ongoing to improve broodstocks, seed production efficiency, and sustainability through breeding programs, better management practices, and technologies. China's crayfish aquaculture can achieve long‐term growth and contribute to a sustainable future. This can be done by overcoming challenges and embracing key innovations. These include selective breeding, genomic selection, monosex production, genome editing technologies, and improved production systems.