Abstract: In the first half of 2018, the global economic recovery and the accumulation of risks coexisted, the uncertainty increased. Chinese economy continued to develop steadily and the structural adjustment was further advanced. The domestic Internet industry is developing strongly, showing the characteristics of“two rises and one fall”. The market value has risen rapidly, with a scale of nearly 10 trillion yuan; investment and financing have risen sharply, leading enterprises have driven the effect significantly; revenue growth has dropped slightly, and the growth rate has dropped from 40% to 33%. At the same time, there are problems such as high valuation enterprises getting listed, platform competition fierce, and platform governance challenges. It is suggested to improve the financial market system, standardize the industry competition order, strengthen platform supervision, guide enterprise valuation to return to rationality, and create an orderly Internet market. The competitive environment promotes the healthy and sustainable development of the industry.

Key words: internet, high valuation enterprises, platform competition fierce, platform supervision