During the third plenary meeting of the 16th NPC，the Decision on Certain Matters Related to Improvement of Socialist Market Economy System has been approved，another guiding document on reform after the one made on the third plenary meeting of the 14th NPC a decade ago. Providing reform proposals on public ownership form，establishing modern property right system，establishing and improving state-owned asst management and supervising system，perfecting governance structure of corporate judicial person and advancing reform on monopoly industries，the Decision provides a clear direction and presents a detailed layout for further reform on SOEs. Studying and applying policies in the Decision is of great significance to accelerating reform on modern enterprise system by SOEs and improving vitality and competitiveness of SOEs.