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In the past two years, significant progresses have been achieved in high-performance cast and wrought magnesium and magnesium alloys, magnesium-based composites, advanced cast technologies, advanced processing technologies, and functional magnesium materials, such as Mg ion batteries, hydrogen storage Mg materials, bio-magnesium alloys, etc. Great contributions to the development of new magnesium alloys and their processing technologies have been made by Chongqing University, Shanghai Jiaotong University, Chinese Academy of Sciences, Helmholtz Zentrum Geesthacht, Queensland University, Brunel University, etc. This review paper is aimed to summarize the latest important advances in cast magnesium alloys, wrought magnesium alloys and functional magnesium materials worldwide in 2018–2019, including both the development of new materials and the innovation of their processing technologies. Based on the issues and challenges identified here, some future research directions are suggested, including further development of high-performance magnesium alloys having high strength and superior plasticity together with high corrosion resistance and low cost, and fundamental research on the phase diagram, diffusion, precipitation, etc., as well as the development of advanced welding and joining technology. Keywords: Cast magnesium alloys, Wrought magnesium alloys, Functional magnesium materials, Cast and processing technologies, Corrosion and surface treatment, International standard