Global ocean governance is a historical product. In the course of development, the UNCLOS has established the contemporary global ocean governance system. The current system, however, has many defects, including ambiguity in rules and fragmentation in structure. Furthermore, some new challenges are ever-emerging in the system. But all these could be improved through the establishment of a UNCLOS review agency and an enactment of supplementary agreements. China has taken lessons from its participation in the development and reform of the system. This includes the creation of the identity of a developing country, being an active participant and promoter of change as opposed to being a passive recipient and follower inside the system. In its push for reforming global ocean governance, China should not only initiate the establishment of a “World Ocean Organization,” but also enhance its agenda setting, drafting and contracting capabilities of international legislation.