diff --git a/CHANGES.md b/CHANGES.md
index 8a188cbe28f..60bbe031bb9 100644
--- a/CHANGES.md
+++ b/CHANGES.md
@@ -27,6 +27,7 @@ Apollo 2.0.0
 * [Split helm chart into another repo](https://github.com/apolloconfig/apollo/pull/4125)
 * [fix gray publish refresh item status](https://github.com/apolloconfig/apollo/pull/4128)
 * [Support only show difference keys when compare namespace](https://github.com/apolloconfig/apollo/pull/4165)
+* [Fix the issue that property placeholder doesn't work for dubbo reference beans](https://github.com/apolloconfig/apollo/pull/4175)
 
 ------------------
 All issues and pull requests are [here](https://github.com/ctripcorp/apollo/milestone/8?closed=1)
diff --git a/apollo-client/src/main/java/com/ctrip/framework/apollo/spring/util/BeanRegistrationUtil.java b/apollo-client/src/main/java/com/ctrip/framework/apollo/spring/util/BeanRegistrationUtil.java
index 27b0cf5976d..cfaf14f6a11 100644
--- a/apollo-client/src/main/java/com/ctrip/framework/apollo/spring/util/BeanRegistrationUtil.java
+++ b/apollo-client/src/main/java/com/ctrip/framework/apollo/spring/util/BeanRegistrationUtil.java
@@ -18,16 +18,27 @@
 
 import java.util.Map;
 import java.util.Objects;
+import java.util.concurrent.ConcurrentHashMap;
 
-import org.springframework.beans.factory.BeanFactory;
 import org.springframework.beans.factory.config.BeanDefinition;
 import org.springframework.beans.factory.support.BeanDefinitionBuilder;
 import org.springframework.beans.factory.support.BeanDefinitionRegistry;
+import org.springframework.core.type.MethodMetadata;
 
 /**
  * @author Jason Song(song_s@ctrip.com)
  */
 public class BeanRegistrationUtil {
+  // reserved bean definitions, we should consider drop this if we will upgrade Spring version
+  private static final Map<String, String> RESERVED_BEAN_DEFINITIONS = new ConcurrentHashMap<>();
+
+  static {
+    RESERVED_BEAN_DEFINITIONS.put(
+        "org.springframework.context.support.PropertySourcesPlaceholderConfigurer",
+        "org.springframework.boot.autoconfigure.context.PropertyPlaceholderAutoConfiguration#propertySourcesPlaceholderConfigurer"
+    );
+  }
+
   public static boolean registerBeanDefinitionIfNotExists(BeanDefinitionRegistry registry, String beanName,
       Class<?> beanClass) {
     return registerBeanDefinitionIfNotExists(registry, beanName, beanClass, null);
@@ -41,17 +52,16 @@ public static boolean registerBeanDefinitionIfNotExists(BeanDefinitionRegistry r
 
     String[] candidates = registry.getBeanDefinitionNames();
 
-    if (registry instanceof BeanFactory) {
-      final BeanFactory beanFactory = (BeanFactory) registry;
-      for (String candidate : candidates) {
-        if (beanFactory.isTypeMatch(candidate, beanClass)) {
-          return false;
-        }
+    String reservedBeanDefinition = RESERVED_BEAN_DEFINITIONS.get(beanClass.getName());
+    for (String candidate : candidates) {
+      BeanDefinition beanDefinition = registry.getBeanDefinition(candidate);
+      if (Objects.equals(beanDefinition.getBeanClassName(), beanClass.getName())) {
+        return false;
       }
-    } else {
-      for (String candidate : candidates) {
-        BeanDefinition beanDefinition = registry.getBeanDefinition(candidate);
-        if (Objects.equals(beanDefinition.getBeanClassName(), beanClass.getName())) {
+
+      if (reservedBeanDefinition != null && beanDefinition.getSource() != null && beanDefinition.getSource() instanceof MethodMetadata) {
+        MethodMetadata metadata = (MethodMetadata) beanDefinition.getSource();
+        if (Objects.equals(reservedBeanDefinition, String.format("%s#%s", metadata.getDeclaringClassName(), metadata.getMethodName()))) {
           return false;
         }
       }