This paper firstly puts forward the historical logic of media convergence with Chinese characteristics from technology and industry agenda to political agenda. Then it combs the development status of China's short video industry and its multiple driving forces，including demand-oriented relationships between supply and demand，the strong layout of Internet financial capital，differentiation and restructuring of business model，the needs and differences expressed by users，as well as regulatory driving forces. Based on the analysis above，this paper tentatively proposes that the rise of short video makes up for the video communication and social needs of Internet users left behind by the convergence of traditional media and emerging media，but the industry capitalization and heavy supervision may marginalize this possibility once again. If the policy framework and market environment of the short video industry are far away from the motivation of its emergence and development，moreover，if the short video is transformed into a tool of traffic support，we have to rethink whether the current media convergence is adequate，whether it provides more diversified information consumer goods，and whether it empowers the largest number of Internet users.