Abstract: For more than ten years, based on the long-term technology accumulation and independent research and development of the high-speed railway equipment represented by the high-speed train, multiple generations of the advanced high-speed train products had been successfully developed through the technology introduction, digestion and innovation, independent promotion and innovation, comprehensive innovation and continuous innovation. Through the continuous technological innovation, important technology breakthroughs had been made in the series key technologies of the high-speed train, and the independent research and development capabilities had been formed, which continuously improve the safety, reliability, economy, environmental protection and intelligence of the high-speed train. China high-speed trains have excellent comprehensive performance indicators, such as the operating speed, comprehensive comfort, safety, reliability, energy conservation, environmental protection, etc. Some performance indicators have reached the international advanced level. In the present paper, the development achievements and major technology breakthroughs of China high-speed trains, including Hexie EMU, Fuxing EMU, intercity EMU and advanced EMU products, were firstly systematically reviewed. Then the key technology challenges that faced during the research and development of the high-speed train were analyzed, including the complex environment adaptability, complex coupled effect of the large system, safe and reliable design, intelligent application, etc. The research progresses and major technology breakthroughs of the key technologies of the high-speed train, such as the prognostic and health management (PHM) technology, lightweight vehicle body technology, passive safety protection technology, carbon fibre reinforced plastics (CFRP) applications, aerodynamic shape design technology, high-speed bogie technology, noise control technology, traction and brake technology, etc. were systematically outlined. Finally, the future developments of the key technologies of the high-speed train, such as the dynamic technology, structural safety technology, passive safety protection technology, fluid-structure coupled technology, traction and brake technology, intelligent control safety technology, prognostic and health management technology, comprehensive energy saving technology, etc. were further prospected.