Financial risk is related to the security of the entire economic system. As an important component of the financial risk, Internet financial risk has become a new trigger point and "grey rhinoceros" for financial risk. Taking the internet financial risk as the research object, based on 353 relevant papers from 2012 to 2021, a quantitative analysis and review on the current papers related to the risk of internet finance in China are conducted. On this basis, a conceptual framework for the research on collaborative supervision of risks in Internet finance is proposed. The framework takes the behavioral mechanism of Internet financial risk formation as the logical starting point, takes the investigation and judgment of supervision issues-the analysis of the causes of supervision issues---collaborative supervision as the logical main line, and then proposes a collaborative supervision system consisting of three levels: scope, mode and strategy of collaborative supervision. The study result not only provides useful ideas for the further expansion and deepening of research, but also provides decision references for practices.