Many people believe that SOEs' "three officials" expenditures (going abroad, buying car and car maintenance as well as reception) should be more transparent and subject to social supervision. ANBOUND research team thinks that although there are many issues pertaining to SOEs expenditures,the management is rather different between SOEs and the governments. Currently, the SOEs are lacking good mechanism and management. There is a greater need to adopt mutual fund approach in order to manage SOEs rather than exposing the expenditures of the “three officials”.