In 2017，the main characteristics of newspaper investment environment are the followings：the paper consumption of newspapers was reduced，but the prices of paper remains high； advertising continues to decline，five main industries developed well； the “central kitchen” became standard equipment and artificial intelligence lead the technology integration； government provided financial support and the Party newspaper developed against the market； the metropolis daily continued to be in the doldrums and entered the stage of the strategic contraction in an all-round way； newspaper copyright seek to opportunities for cooperation； Caixin.com tried payment model etc.. At the same time，the newspaper industry faces some investment opportunities：the newspaper industry need to work together to achieve the upstream and downstream industry chain； market investment of the Party newspaper should be increased to seize the mainstream public opinion； artificial intelligence applications become the new trend and intelligent media functions need to be developed； the newspaper industry should adhere to the thinking model of new media to create media fusion products； greater efforts should be made to develop copyright to explore business model for copyright； investment channels should be broaden to increase multiple investment； the newspaper industry should be transformed from a content provider to a service provider. However，in the long run，the newspaper industry investment is facing the following obstacles：high cost of the media integration，not-formed profit model； the dominate position of new media； less choice for newspaper reading； incapability of capital operation，restrained transformation of media； inability in copyright protection，and a long way to go for the system construction.