Reusable Launch Vehicle (RLV) is the future of space transportation system, and a prerequisite for large-scale and low-cost access to space. This paper reviews the development history of RLVs for more than 60 years, especially the latest progress driven by commercial space transportation in the past decade. This paper also presents the development progress of China RLV technology, particularly the vertical take-off and vertical landing (VTVL) technology. Given that the reusable method of VTVL has been successfully verified, the key technologies are summarized and discussed from the aspects of engine throttling, multiple startup, powered landing guidance and control, high-precision navigation, and mechanism. Some suggestions for China RLV development are proposed, including taking economy as a design constraint throughout, establishing reusable design methods and criteria, breaking through barriers of high-precision environments prediction technology, developing reusable detection, maintenance and evaluation technologies, rationally selecting the type of propulsion system, realizing VTVL integration demonstration and verification as soon as possible, and developing horizontal take-off and landing technology, aiming at laying a solid foundation for large-scale and low-cost access to space in future.