With the development of the mobile Internet, existing communication methods such as text, picture, and voice are not enough to meet the diverse social needs of the Internet users in the environment where video and snack culture are preferred. Therefore, the increase in the desire to use fragmented time through video became a momentum for the Internet companies to form a new market. The new content that emerged in this environment is the short clip. The Short clip is a smartphone-based video content that is growing rapidly in China. The Chinese short clip industry is expected to have a major impact on the mobile Internet-based social media ecosystem. This study analyzes the development process, market situation, business models and future development directions of the Chinese short clip industry which is leading the global market.