This　paper　investigates　the　time-frequency　dependence,　return　and　volatility　connectedness,　dynamic　linkages,　and　portfolio　diversification　gains　among　oil　and　China’s　sectoral　commodities,　namely,　Petrochemicals　(CIFI),　Grains　(CRFI),　Energy　(ENFI),　Non-ferrous　metals　(NFFI),　Oil　&　Fats　(OOFI),　and　Softs　(SOFI),　utilizing　a　proposed　research　framework　that　contains　the　wavelet　coherence,　novel　TVP-VAR　based　connectedness,　and　the　cDCC-,　DECO-FIAPARCH　(1,　d,　1)　model.　The　empirical　results　demonstrate　that　global　oil　market　exhibits　a　relatively　higher　(lower)　coherence　with　ENFI,　NFFI,　and　OOFI　(CRFI)　on　the　long-term　time　horizon　and　the　oil　market　leads　China’s　sectoral　commodities　during　most　sample　periods.　The　crude　oil　market　transmits　significant　connectedness　to　China’s　sectoral　commodities,　especially　the　energy　commodity　sector　(ENFI).　The　dynamic　return　and　volatility　total　spillovers　tend　to　intensify　and　exhibit　significant　fluctuations　during　the　GFC　and　the　oil　price　collapse.　Further,　the　time-varying　linkages　among　oil　and　China’s　sectoral　commodities　are　positive　and　fluctuant,　mainly　at　a　relatively　low　level.　The　dynamic　return　and　volatility　connectedness,　multi-view　linkages,　optimal　portfolio　weights,　and　hedging　ratios　display　significant　time-varying　features.　The　oil-commodity　nexus　offers　diversification　benefits　and　the　optimal-weighted　portfolio　presents　the　best　variance　and　downside　risk　reduction　performance.　Furthermore,　risk　management　effectiveness　is　market-condition-dependent　and　heterogeneous　across　different　commodity　sectors　and　sub-samples.　This　paper　can　not　only　help　investors　and　market　regulators　to　capture　the　complex　interconnectedness　and　risk　transmission　trajectory　among　oil　and　China’s　sectoral　commodities　but　also　benefits　for　investors　and　portfolio　managers　to　construct　optimal　portfolios　and　hedging　strategies.　©　2022,　The　Editorial　Office　of　JSSC　&　Springer-Verlag　GmbH　Germany.