► An indigenous C. vulgaris FSP-E isolate exhibits high potential as sugar producer. ► Microalgal growth is improved by properly adjusting light intensity and inoculum size. ► Nitrogen starvation is very effective in promoting carbohydrate accumulation. ► The carbohydrate profile of the microalga is suitable for bioethanol fermentation. In this study, three indigenous microalgae isolates were examined for their ability to produce carbohydrates. Among them, Chlorella vulgaris FSP-E displayed relatively high cell growth rate and carbohydrate content. The carbohydrate productivity of C. vulgaris FSP-E was further improved by using engineering strategies. The results show that using an appropriate light intensity and inoculum size could effectively promote cell growth and carbohydrate productivity. Nitrogen starvation triggered the accumulation of carbohydrates in the microalga, achieving a carbohydrate content of 51.3% after 4-day starvation. Under the optimal conditions, the highest biomass and carbohydrate productivity were 1.437 and 0.631gL−1d−1, respectively. This performance is better than that reported in most related studies. Since glucose accounted for nearly 93% of the carbohydrates accumulated in C. vulgaris FSP-E, the microalga is an excellent feedstock for bioethanol fermentation.