Abstract: To protect and reuse industrial heritage，three key questions need to be answered． The first one is how to ensure the government’s interest without decreasing the recent land transfer fees，which is the most enssential premise for the preservation of industrial heritage． The second one is how to prevent the developer’s interest from shrinking， which is the key to turn the passitive utilization of industrial heritage into active utilization． The third one is how to protect public interest，which is the core responsibility of the planners． However，in the reality，land revenue is the key factor for the government to dertermine elaboratly reuse an industrial heritage or demolish it and build a new building on its base． Thus it is necessary to protect and reuse industrial heritage from the perspective of economic balance，and realize win-win development among stakeholders of local government，developers and the public． At present，China is in the period of severe industrial renewal， and the preservation and utilization of industrial heritage have not become the consensus among decision makers． This paper was based on an instance of Shenyang Hongmei Gourmet Powder Factory，and described the thought and process of“rescue”urban plan practice． It was expected to provide some reference for the preservation and utilization of industrial heritage during this special period．