The reduction of sea ice due to global warming has increased the development potentials of arctic. Arctic countries are seizing the opportunity to develop strategies and plans in sectors such as oil and gas，mining，fisheries and tourism in terms of natural resources and infrastructures. Oil，gas and mining in Russia，the United States and Canada are among the top priorities，especially the traditional resource-rich arctic power，Russia，which is the hope of its economic recovery. The Nordic countries’ strategy，by contrast，is to balance their industries，with fishing and tourism playing an important role in most countries’ economies at a time when oil，gas and mining are immature. Climate change is not only an opportunity for the eight arctic countries，but also an opportunity for China to participate in arctic affairs，which China should seize to grow into an indispensable arctic power.