The Chinese meteorological satellites Fengyun (FY) have recently developed rapidly, resulting in a substantial wealth of precipitable water vapor (PWV) products. However, these latest operational PWV products still need to be systematically validated. In this paper, we focus on the PWV products derived from the FY-3D/Medium Resolution Spectral Imager II (MERSI-II), FY-2H/Visible and Infrared Spin Scan Radiometer (VISSR), and FY-4A/Advanced Geostationary Radiation Imager (AGRI), and test their performance by using the global navigation satellite system (GNSS) data. We find that FY-4A/AGRI performs best in various regions of China in 2021. Compared to GNSS-PWV, FY-4A/AGRI PWV has a correlation coefficient 0.95, a root mean square error (RMSE) of 4.67 mm, and a mean deviation (MB) of −0.73 mm, respectively. Significant discrepancies between FY-PWV and GNSS-PWV are observed in the Qinghai-Tibetan Plateau (MB: −4.86 mm for FY-2H/VISSR and − 5.12 mm for FY-4A/AGRI) and the Sichuan Basin (MB: 5.52 mm for FY-2H/VISSR, and 3.82 mm FY-4A/AGRI). All FY-PWVs exhibit season-dependent variations, and their discrepancies with GNSS-PWV during winter are smaller than in summer. Finally, we analyze the distribution and changes of water vapor in China from 2019 to 2022 using the preferred FY-4A/AGRI PWV. The results reveal a gradual decrease in the annual mean water vapor content, diminishing by approximately 0.33 mm during this period. Notably, this decrease occurs in southern China, and the water vapor content spikes in summer, culminating at 23.59 mm in 2022. Our findings strongly correlate with the precipitation changes documented in the China Climate Bulletin (2022).