As one important direction of clean coal technology with promising prospect, polygeneration system has an attractive performance both in coal liquefaction (or chemical production) and power generation. On the basis of the integration principle of chemical energy cascade utilization, a novel polygeneration system for power and liquid fuel (methanol) production, which innovatively integrates the fresh gas production subsystem without water-gas shift unit and the methanol synthesis subsystem adopting partial-recycle scheme, has been proposed in this paper. Taking another polygeneration system adopting the water-gas shift unit and Once Through Methanol (OTM) scheme as the reference, the new system has been investigated and assessed. The primary energy saving of new system is as high as 15%, which is significantly superior to 5∼8% in the reference system. With special attention on the interactions between the chemical production process and the thermal cycle, the integration features of the new system and the internal reason for its superior performance have been revealed, and the role of chemical energy utilization in system integration has been identified.