Globalization and communication on the internet poses challenges to sociolinguistics. China is one of the engines of economic in the world. Since the Internet service started in 1994, it has been developing rapidly. The rapid development of Internet communication in China has created huge impact on the Chinese language and society. According to Yates (1996), a new medium of communication such as the Internet not only draws upon existing linguistic practices, but also generates new forms of Chinese Internet lexicon. The rapid diffusion of the Internet has prompted developments in the variety and creativity of language use. Internet users often create new words or appropriate the meanings of existing words. The resultant “Internet language” has unique lexical and discourse features. Li (2002) and Ma (2002) confirmed that Internet lexicon has brought the tremendous impact and spread to everyday usage in Chinese society. In 2006 National Language Resources Monitoring and Research Graphic Media Center has released the first time an annual report of Inventory of Chinese Language (汉语盘点 Hanyu pandian). Since 2011 ten most popular Internet hot words have been released annually by National Language Resources Monitoring and Research Graphic Media Center. This research is aimed to discusses the emergence and use of most popular Chinese Internet vocabularies in the recent 10 years. Based on the data from National Language Resources Monitoring and Research Graphic Media Center, the most popular Chinese Internet words and phrases (2011-2019) are analyzed and summarized into twelve categories. The implication and findings of the symbolic meaning embedded in the Chinese internet lexicon are analyzed. This study sets out to examine the transformation of internet lexicon in China and to argue the equivalent relation between symbols, language and popular culture.