As an important form of network literary，micro film and short video has developed rapidly in recent years，becoming an important entertainment way for netizens and the main form of national creation. Since the 18th session of CPC，China central government has enacted a number of policy documents and regulations，clearly positioned the policies of micro film and short video，built up its institutional framework，and established the system of licensed access，content audit and copyright protection related to micro film and short video，which has provided an important basis and legal guarantee for industry management，content improvement，industrial development and safety supervision of micro film and short video. To respond to development demands of this industry，legal policies and governance system should be furtherly improved，responsibility of supervision subjects and platform subjects should be strengthened，content supervision and creative guidance should be furtherly directed，state governance and self-discipline of this industry should be combined to perfect policies and governance systems of micro film and short video.