Though faced with systematic and strict regulatory policies，thanks to the relatively high rapid of economic growth，Chinese new media industry has still achieved a high growth rate. However，the growth rate of the whole new media industry and all sub industries is slowing down. Due to the significant changes in the underlying logic，the gap between the operating revenue，net profit，especially the market value，of Chinese Internet enterprises and that of American Internet enterprises is rapidly widening，which may be further widened in the future. In order to cope with the new situation，Internet giants，on the one hand，actively layout the meta universe industry，and on the other hand，speed up the pace and intensity of going to sea.