To　assess　the　potential　of　China’s　industrial　restructuring　on　energy　conservation　and　greenhouse　gas　(GHG)　emission　reduction　in　2020,　this　study　proposes　an　input–output　multi-choice　goal　programming　model　and　method.　In　this　model,　the　goals　include　the　maximization　of　gross　domestic　product　(GDP),　minimization　of　energy　consumption　and　GHG　emission.　They　are　subjected　to　the　input–output　balance,　economy　development,　energy　supply,　and　industry　diversity.　And　four　scenarios　with　different　decision　preferences　are　taken　into　accounted　in　the　solutions　of　the　industrial　structure　optimization　model.　The　results　demonstrate　that　industrial　restructuring　has　potential　in　energy　saving　and　emission　reducing.　First,　after　optimization,　energy　consumption　intensity　and　GHG　emission　intensity　can　drop　by　13.88246%　and　5.33767%　over　2012,　and　GDP　can　grow　up　at　annual　growth　rate　6.6%　from　2013–2020.　Second,　promoting　the　development　of　the　low　energy-intensive　and　low　GHG　emission　intensive　sectors　is　an　effective　method　for　energy　conservation　and　emission　reduction.　Three,　compared　to　energy　intensity　reduction,　GHG　emission　intensity　reduction　is　less　effective　for　four　scenarios.　Four,　there　are　several　difficulties　to　achieve　the　amounts　and　intensity　control　targets　of　energy　conservation　and　GHG　emission　reduction　simultaneously.　It　is　suggested　that　China　had　better　strive　to　promote　progress　of　technologies　of　energy　conservation　and　GHG　emission　reduction　while　adjusting　the　industrial　structure.　©　2019　The　Authors.　Published　by　Atlantis　Press　SARL.