This paper reviews the telecom regulation theory concerned and its development, and by applying institutional economic theory, argues that telecom regulation, as an institutional equilibrium, is an overall system arrangement whose variance is fraught with multiple equilibrium and path dependence.

Meanwhile, we put forward the strategies of telecom market regulation of China and its associated specific countermeasures by an in-depth analysis to the theory, measure, task and content of telecom market regulation and the economical effect of telecom regulation to the operating enterprises.

In the age of telecommunication regulation, most of countries put telecommunication regulation into practice and conclude that telecommunication cost categorizing,distributing, and computing principle is the core of Telecommunication Regulatory Accounting.

In comparing telecommunication regulation between China and America, It can be found that American telecommunication regulation is advanced and unique, and has much for us to learn from, such as regulation independence, fine intendance.

At present,the cases of telecommunication regulation have seldom enter into judicial proceedings in our country,which apparently exclude judicial intervention.

But interconnection disputes excessively come into administrative procedure, rarely to jurisdictional procedure, the reason of which lies in drawbacks of the current telecom regulation system in China.

With regulations of telecommunication industry becoming more and more consummate, the competitive regulation of telecommunication is not strange to human beings any more.