Just 10 days after the closing of the Third Plenary Session of the 18th CPC Central Committee, Sinopec's oil pipeline leak explosion took place in Qingdao. Basically, the spill deflagration accident could have been avoided. The incident has exposed a series of questions and rings the alarm. The central government who has pledged ambitious reform earlier this month is presumed to impose severe punishment on anyone found responsible. ANBOUND suggests that aside from completing and learning lessons from the accident, the policy department should put more effort on SOEs reform.