since the 18th national congress of the CPC，the reform of state-owned enterprises has entered a new era. After the publication of document no. 22 ［2015］，a series of documents have been released，so the top-level design and construction of “1+N” have been improved. In particular，since 2018，important progress has been made in the reform of the salary distribution system，the reform of the management system of state-owned assets，the development of central enterprises under the rule of law，and the “double hundred action plan”. Local governments and urban investment companies should correctly understand the spirit of the reform of state-owned assets and enterprises，so as to promote the transformation and development of urban investment companies.