On the basis of an analysis of some important factors which caused the grim situation of China's historic preservation, this thesis points out the necessity to rethink the relationship between economic development and historic preservation in contemporary China and learn successful experience from US preservation based commercial revitalization approach. In the second part, it makes a brief introduction and analysis of current situation of US historic preservation and the history, missions, and achievements of the National Trust Main Street approach in order to make a further explanation of the necessity of learning something in historic preservation field from the United States. The third part answers the question whether it is possible to apply the de-centered and locally based Main Street programs to China's contemporary context, and then it discusses some possible methods to apply the National Trust Main Street four-point approach to China in order to realize China’s preservation based economic development. The last part summarizes the significance of applying this approach to China. This thesis aims to introduce this model to Chinese government officials and common people in order to make them better understand that preservation can be a catalyst for local economic development if appropriate strategies are adopted.