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Although the rapid development of Internet commerce has brought new vitality for business model, it brings a lot of business ethics problems. This paper explores the business ethics in Internet environment. Because Information and Internet technology changes faster than business ethics, Business ethics lag arises. This results in ethics problems in Internet commerce. There isn’t a particular Internet or e-commerce ethics, and the contents and norm of business ethics in Internet commerce are not fundamentally different from those in traditional commerce. However, the manifestations and scope of ethics issues in Internet commerce are different. The decision-making and implementation of ethics in Internet businesses environment differs from those in traditional businesses environment. The most prominent ethics problems in Internet commerce are online privacy and integrity. The governance of Internet business ethics should be conducted from three levels----institutional ethics, corporate ethics and individual ethics.