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In 2006, while Web2.0 is on the wane in China, an American website YouTube gets hot. YouTube, where people can upload and share their video clips, ranks top ten on the Alex Rankings - an important index of an Internete nterprise'sm arketv alue- i nl esst hana y ears incei tw asl aunched. Thanks to YouTube, Web2.0 is revived as Internet enterprises in China are battling to gain a bigger share of it. It is estimated that there are over 150 Chinese versions of YouTube in just several months since the concept of “video sharing” got popular. Though the links are not well coordinated now, all have illusions about the forthcoming web video sharing era. Chinese enterprises are not the only ones rushing into the web video market; the global Internet giants are also on the move. On September 19th, Microsoft started to test its web video sharing service Soapbox, which will be launched formally as a part of MSN's video service to challenge YouTube's leading position. Prior to this, Google, Yahoo , AOL under Warner Brothers and MySpace under News Group have all got into the web video market.Flow is the only thing Chinese video sharing sites are after right now. But the flow of the unknown and unchecked contents on the Internet may be uncertain.B esides,w hat“ sellingp oints”v ideos harings itesh avet oa ppeal to advertising clients once under commercial operation are yet in question. As long as video sharing sites do not resolve these problems, as a matter of fact, the industry can never remove the label as being “illusionary” and “self-entertaining”, and no one will gain anything substantialf romi t.