TECHNOLOGY FOCUS - INSTRUMENTATION AND TESTING - Preferred Components: The external outlet part of the regeneration riser pipe is set with a vertical sleeve (25). At least one regeneration riser pipe is set within the vertical sleeve. The outlet of the regeneration riser pipe is set with a regenerated plug valve (10), where the valve head of the regenerated plug valve is aligned inside the regeneration riser pipe. The upper opening of the regeneration standpipe sleeve is inclined downward to the guide plate. The bottom of the vertical pipe sleeve is provided with a fuel inlet, for injecting a fuel and a dispersion medium optionally containing free oxygen gas. At least two cyclone separators are connected in series. The outlet end of the riser tube reactor is connected to the crude cyclone separator. The vapor outlet of the crude cyclone separator is connected with the inlet of the secondary cyclone separator. The catalytic cracking device further comprises a degassing tank for degassing the regenerated catalyst, where the regenerated catalyst from the regenerator enters into the degassing tank, after recycling the regenerated catalyst is returned to the riser reactor, the oxygenated gas from the top of the degassing tank is returned to the regenerator, and a stripping medium is allowed to enter into the bottom of the tank and for further adsorption and removal of the flue gas from the catalyst in the degassing tank.    TECHNOLOGY FOCUS - ORGANIC CHEMISTRY - Preferred Components: The stripping medium is light hydrocarbon and/or water vapor. The amount of the stripping medium allowed to enter into the degassing tank is 3-10 wt.% of the total amount of light hydrocarbon oil. The riser tube reactor, regenerator and rise pipe are parallel to the axis. The catalyst comprises 1-60 wt.% zeolite, 5-99 wt.% inorganic oxide and 0-70 wt.% clay, where the zeolite is 50-100 wt.%, preferably 70-100 wt.% mesoporous zeolite or 0-50 wt.%, preferably 0-30 wt.% macroporous zeolite. Preferred Method: The reaction in the riser reactor is carried out: at 500-750 degrees C for 1-10 seconds, at a pressure of 0.05-1 MPa, where the weight ratio of the catalyst to the raw material oil is 1-100, and the weight ratio of the steam and the raw material oil is 0.05-1; at 540-720 degrees C for 2-6 seconds, where the weight ratio of the catalyst to the raw material oil is 10-50; at 560-700 degrees C for 2-4 seconds, where the weight ratio of the catalyst to the raw material oil is 20-40. The reaction in the regenerator is carried out at 550-750 degrees C with fluidized bed gas apparent linear speed of 0.8-3 meter/second and average catalyst residence time of 0.6-2 minutes. The method further comprises returning the C4 hydrocarbon fraction in the reaction product to the riser pipe reactor for continuous reaction. The process of distilling the light hydrocarbon oil raw material is carried out at 25-204 degrees C.