Abstract: Graphite is an important strategic resource to support the development of strategic emerging industries in the future. Through the data collection of the graphite reserves, production, consumption, trade volume and price, the authors constructed the supply risk assessment system with three dimensions of resource safety, trade safety and market safety. They evaluated the supply risk of graphite resources by calculating the seven indicators, which are resource guarantee level, self-sufficiency ratio, proportion of import share, risk of importing countries, concentration of importing countries, volatility index of import prices and volatility index of prices. The results show that Chinese graphite supply risk is most affected by market security. Some suggestions can be given, such as establishing large-scale graphite resource reserve institutions and implementing graphite export quota institutions. Utilizing the graphene technology and breaking the technological monopoly of graphite purification and deep processing may contribute to Chinese graphite industry development and promote the transformation from graphite resource big country to graphite resource powerful country.