The reform of Chinese State-owned Enterprises (SOEs) has been moderate in recent years. ANBOUND think tank scholars highlight that the era when SOEs' profit soars has ended. In the "New Normal" phase, how to enhance operational efficiency has once again become a major issue facing Chinese SOEs. SOEs reform should stop worrying about who is in the leading place. Instead, since the leading and exploratory work has started, it should keep trying while centering upon operational efficiency improvement, and realize the efficiency-driven road map for SOEs reform through market-oriented reform.