Since the China's Central Government implement plans to revitalize Northeast China in 2004, the efforts spent in these 12 years are still unable to salvage the decline of the Northeast. Brain drain, loss of economic factors, and the disappearance of financial resources are increasingly serious. During its research work done in the Northeast, Anbound understands that the state investment mainly flows to the state-owned enterprises, but under in the new situation, most of them are facing excess capacity or inefficient production capacity. The root causes of economic problems in the Northeast lies in the mindset and in the reform. To revitalize the economy in the Northeast, there must be a change in mindset to seize the core issues, and determination for the reform of concepts, government and state owned enterprises; policies should be devised to suit the market economy concept, so that real breakthrough can be achieved.