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The goal of statistical pattern feature extraction (SPFE) is `low loss dimension reduction'. As the key link of pattern recognition, dimension reduction has become the research hot spot and difficulty in the fields of pattern recognition, machine learning, data mining and so on. Pattern feature extraction is one of the most challenging research fields and has attracted the attention from many scholars. This paper summarily introduces the basic principle of SPFE, and discusses the latest progress of SPFE from the aspects such as classical statistical theories and their modifications, kernel-based methods, wavelet analysis and its modifications, algorithms integration and so on. At last we discuss the development trend of SPFE.