The IPTV is the best starting point of tri-networks convergence, as well as the breaking point of contradictions. The bottleneck of IPTV business in China at the policy level is mainly reflected in the policy barriers caused by multicipital supervision, the benefit of all parties that hardly balanced at present, the crisis of license under permission management, and the new situations that content security supervision should be confronted.There is a lot of experience of developed countries that can be used by China for reference, including the establishment of a unified regulatory agency, the fusion of supervision and laws, and the enhancement of classification regulation and industry self-regulation in content security. <<