The state-owned financial institutions in China should have perfect risk control system, and the transmission of financial interests still occur in the long run. The corruption cases of Huarong Asset Management Co., Ltd. reveal several facts: (1) As non-bank financial institution at the central level, risk control is virtually not functional. (2) The power of the chairman of a financial state-owned enterprise is almost uncontrolled within the enterprise. (3) Corporate governance of listed state-owned enterprises might be ignored by state-owned enterprises. (4) In terms of financial corruption, there is no difference between state-owned financial institutions and private organizations.