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The assessment of the economic potential of wind electricity is of critical importance for wind power development in China. Based on the wind resource data between 1995 and 2014 and geological assumptions, this paper calculates economic potential of China’s onshore wind electricity. Furthermore, it builds an econometric model to update the net-present-value model, based on a survey sample of various wind farms. Results show that the economic potential of China’s onshore wind electricity is 8.13 PWh per year with a feed-in-tariff price at 0.60 yuan (about 9.6 U.S. cents) per kilowatt-hour.