Recently, Anbound's scholars have analyzed the reform of the Railways Ministry, which has been replaced by China Railway Corporation (CRC). They pointed out that the CRC still remained as an administrative entity. In China, survival and development of large-sized SOEs in the railway, power and national grid sectors are necessary and thus, the "Government-enterprise marriage" is a natural phenomenon. However, the real challenge is market governance on SOEs' managers where market transparency should be improved in the organizations' structure rather than simply privatizing the SOEs step-by-step.