In the environment of deepening the reform of state-owned enterprises，most of UDICs in small-medium cities went to the intersection of choice. They need a practical path and mode about how to achieve transformation. Since the establishment of State-owned Assets Investment & Management Group Co.，Ltd Of Xuzhou，the corporation has made great achievements in the aspects of clarifying relations with government，creating new business segments，strengthening risk control and enhancing internal management. The successful transition path and mode of the corporation are worth exploring and learning.