Abstract: During the process of promoting the development of national economy, the media industry, different from other industries, can not only contribute directly to GDP, but also create influences that may permeate various fields of economy and society through its two-track path of industrial form and carrier form. China’s media industry can play many roles in the economic development, such as institutional evolution, market regulation, services for agriculture, farmers and rural areas, international marketing, and so on. In order to achieve these goals better, China’s media industry has to speed up the transformation of government functions, to accelerate the industrial technical transformation, promote the development of human capital, and increase the pace of integrating with international markets.

Key words: media industry; economic development; media function; cultural industries; knowledge-based economy