Based on a general introduction of the changes in the overall pattern of China's media investment market in 2017，this chapter focuses on the analysis of the policies，investment environment of China's media investment market and the internal logic，basic features of media investment in 2017，And then the capital market subdivisions of China's cultural media in 2017are scanned. In 2017，the media capital market remained bearish since 2016，with the valuation closed to the lowest in its history and bubble further was released. However，subdivisions within the industry changes all the time，there are still structural investment opportunities and the developments of the film and television music industry are promising. The 19th National Congress of the People's Republic of China redefined the socialist contradictions，and cultural self-confidence as one of the four self-confidences was added into the constitutional amendments. All these changes above have provided fundamental benefits for the development of the culture and media industry. “Upgraded cultural consumption+ iterative technology+ dividend policy” stimulates a new round of industrial upgrading，promotes the right to speak in industrial capital area，and accelerates the rise of enabling investment. At the same time，various measures taken by the country to rectify the financial order and strengthen supervision of the capital market，which took the place of internal supervision over the media industry，became the most important policy variables affecting media investment in 2017. Policy risk caused by the falling of merge and acquisition and the difficult withdrawal of media investment was still one of the most important risks that should be prevented by media investment.