Currently the cultural industry in China has ushered in the opportunities for great development and prosperity and is gradually becoming the pillar industry of the national economy. Contrary to various opinions on the concept of cultural industry, this article first gives the definition of cultural industry and then analyzes the current status of development of the cultural industry in China from seven aspects: strategic opportunities, development speed, constitution of the cultural industry, investment on fixed assets, development tendency, financial support, and cultural system reform.