Satellite-based quantitative precipitation estimates (QPE) with a fine quality are of great importance to global water cycle and matter and energy exchange research. In this study, we firstly apply various statistical indicators to evaluate and compare the main current satellite-based precipitation products from Chinese Fengyun (FY)-2 and the Global Precipitation Measurement (GPM), respectively, over mainland China in summer, 2018. We find that (1) FY-2G QPE and Integrated Multi-satellitE Retrievals for GPM (IMERG) perform significantly better than FY-2E QPE, using rain gauge data, with correlation coefficients (CC) varying from 0.65 to 0.90, 0.80 to 0.90, and 0.40 to 0.53, respectively; (2) IMERG agrees well with rain gauge data at monthly scale, while it performs worse than FY-2G QPE at hourly and daily scales, which may be caused by its algorithms; (3) FY-2G QPE underestimates the precipitation in summer, while FY-2E QPE and IMERG generally overestimate the precipitation; (4) there is an interesting error phenomenon in that both FY-based and GPM-based precipitation products perform more poorly during the period from 06:00 to 10:00 UTC than other periods at diurnal scale; and (5) FY-2G QPE agrees well with IMERG in terms of spatial patterns and consistency (CC of~0.81). These findings can provide valuable preliminary references for improving next generation satellite-based QPE retrieval algorithms and instructions for applying these data in various practical fields.Collecting precipitation information from ground rain gauge stations is the traditional and common method of measurement. However, the limitations are obvious due to the uneven spatial distribution of the stations. The measurements of ground stations are usually very sparse over some regions of the earth (e.g., the Tibetan plateau), which are meteorologically important [6,7]. As for ground-based weather radars, they have certain superiorities when observing precipitation in local areas. Nevertheless, due to the limitations of the scope of observation and the huge cost of equipment acquisition and maintenance, ground-based weather radars are not the first choice for large-scale precipitation observations. However, precipitation information obtained from satellites does not meet such limitations. Satellite-based precipitation datasets can depict the spatial and temporal variability of precipitation with a considerable accuracy over regions that have few ground stations [5,8]. Over the last four decades, the progress of meteorological satellites has made it possible for scientists to acquire reliable and cost-effective precipitation datasets through a variety of sensors and inversion algorithms [9][10][11][12][13]. Therefore, obtaining high-resolution and accurate precipitation estimates derived from sensors on satellites at a regional or global scale has become a highly-efficient research method at present [4,14,15].Satellite-based precipitation products provided by several institutions and organizations from all over the world are different in terms o...