The report of the Chinese Nineteenth National Congress emphasizes that we should “improve the financial supervision system and guard against the bottom line of systemic financial risks”. As the priority of the three major battles to win a well-off society，we should focus on preventing and controlling financial risks. Strengthening the assets and liabilities of state-owned enterprises （SOE）is an important measure to prevent and resolve major risks. According to the objectives set by the Guidelines on Strengthening the Restriction of Assets and Liabilities of SOEs （hereinafter referred to as the Guidelines） issued by the Central Office of the Communist Party of China and the General Office of the State Council in September 2018，we should promote the return of assets and liabilities ratio of high-debt SOEs to a reasonable level as soon as possible，and lower the average assets and liabilities ratio by 2 percentage compared with the end of 2017. According to the relevant data，the current asset-liability ratio of SOEs is declining，but it is still at a high level. There is still some room for efforts to achieve the above goals. We need to systematically analyze the causes and hazards of SOE’s high liabilities，so as to establish an effective restraint mechanism combining internal and external assets and liabilities，effectively reduce the ratio of assets and liabilities，ensure the healthy development of state-owned enterprises，and maintain the stability of the entire financial system.