Many market participants believe that the recent super-day debt default events showed that the Chinese government wishes to instill the concept of cautious commitment on market risks. ANBOUND's senior researcher He Jun holds thinks that it is questionable to allow the SOEs (state owned enterprises) to breach contract. The state owned enterprises’ credit is actually another form of government’s credit. Thus, eventually the government needs to pay for it. ANBOUND think tank scholars suggest that more SOEs should exit from the market and adopt a better approach namely "the government pays + the market buys" and sell the SOEs to private and foreign enterprises. The latter can enter the market via spending on purchase cost. If “mutual fund” model is adopted to reform SOEs then the withdrawal of SOEs from the market can operate accordingly.