With the rapid development of the Internet，it has become more and more evident that regulation is indispensable for maintaining the order in the cyberspace and protecting stakeholders’ interests therein. Nevertheless，it does not mean government is the only regulator of the Internet. Actually，self-regulation organizations should play a more important role in the cyberspace than in the real world. One of the key questions for Internet regulation is how to establish a regulatory regime which combines government regulation and industrial self-regulation effectively. Based on a comparative law study of Internet regulation，this essay describes the regulatory regime of the Internet in contemporary China，analyses its defects，and suggests its reform. On one hand，China should improve the effectiveness and legitimacy of governmental Internet regulation by strengthening the rule of law and increasing the standardization and transparency level of administrative actions. On the other hand，in accordance with the idea of the priority of society，China should empower self-regulation organizations （SROs） so that they could play a much more important role in Internet regulation. SROs should be allowed to participate in government’s decision-making，while the government should be involved in self-regulation process by way of stimulatingor supervising. The direction for the reform of China’s Internet regulation should be a collaborative system，in which government regulation and self-regulation complements and supports each other.