Abstract: State-owned enterprises are also enterprises, and the socialist market economy is also a market economy.Therefore, state-owned enterprises and private enterprises should enjoy the same national treatment and must accept the same market test.Only in this way can we optimize the allocation of resources through fair competition under the influence of the law of value.To this end, state-owned enterprises must truly realize the transformation from the management of assets to the management of capital, and must truly realize the transformation from government-to-market enterprises to competitive enterprises. This is an effective way to implement "making the market play a decisive role in resource allocation" and "playing a better government role".

Keywords: state-owned enterprise reform; resource allocation efficiency; state-owned asset management system; capital management