diff --git a/CHANGES.md b/CHANGES.md
index f4880aff50d..f6db913d6ce 100644
--- a/CHANGES.md
+++ b/CHANGES.md
@@ -5,6 +5,7 @@ Release Notes.
 Apollo 1.9.2
 
 ------------------
+* [Fix the issue that property placeholder doesn't work for dubbo reference beans](https://github.com/apolloconfig/apollo/pull/4161)
 
 ------------------
 All issues and pull requests are [here](https://github.com/apolloconfig/apollo/milestone/10?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..c1fa18efbbf 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
@@ -19,10 +19,11 @@
 import java.util.Map;
 import java.util.Objects;
 
-import org.springframework.beans.factory.BeanFactory;
+import org.springframework.beans.factory.annotation.AnnotatedBeanDefinition;
 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)
@@ -41,17 +42,15 @@ 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;
-        }
+    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 (beanDefinition instanceof AnnotatedBeanDefinition) {
+        MethodMetadata metadata = ((AnnotatedBeanDefinition) beanDefinition).getFactoryMethodMetadata();
+        if (metadata != null && Objects.equals(metadata.getReturnTypeName(), beanClass.getName())) {
           return false;
         }
       }