In 2020，the capital operation of China’s media industry presents the following characteristics：First，public companies especially Internet giants like Tencent and Alibaba are the dominant forces；secondly，the number of financing is cut down year-on-year but the amount of financing increased significantly year-on-year；thirdly，traditional media businesses such as film and television have been hit hard and the Internet business has grown rapidly；what’s more，privately-owned film and television public companies have introduced state-owned actual shareholder controllers.