According to a recent research of Morgan Stanley, the gap between return of assets of state-owned enterprises (SOEs) and private enterprises has reached unprecedented wide since the 1990s. Anbound's research team suggests that to reverse this situation, market should play a vital role in resource distribution while promoting the restructuring of SOEs, and that the Central Government should break the monopoly of central government-owned enterprises and release larger market space for the private enterprises, as well as encourage innovation in private enterprises to force the central government-owned enterprises to reform. The issue of using mutual fund to change the improvement and reform SOEs deserves further studies.