Because of the different background of the media industry, there is a significant difference in the perspective of media convergence research between China and the West. Taking traditional media as the starting point is the most important characteristic of Chinese media convergence study, which also determines its practical action and vision. Based on the background of the media reform in China, this paper re-examines the historical process of Chinese media convergence, and analyzes the theoretical and practical path crisis of Chinese media convergence. Moreover, it suggests applying Schumpeter’s innovation theory to reshape the practical framework of Chinese media convergence.