This study focuses on exploring the key factors and effective strategies driving the advancement of bilingual education for children in China. In the context of increasingly deepening globalization in education, this study emphasizes the importance of bilingual education in enhancing the cognitive abilities and cross-cultural communication skills of Chinese children. A comprehensive assessment of the current state and challenges of bilingual education in China is conducted, with a special emphasis on the applicative value of the phonics teaching method in bilingual teaching. The study finds that the allocation of educational resources, policymaking, sociocultural background, and family environment significantly impact the effectiveness of bilingual education. Based on these findings, a series of strategies are proposed, including implementing differentiated teaching, strengthening the application of the phonics teaching method, promoting the professional growth of teachers, and encouraging active participation from families and society. Additionally, the potential of online platforms and AI tools to enhance the effectiveness of bilingual education is explored. This study aims to provide theoretical and practical guidance for the language and cognitive development of Chinese children in a globalized context.