Since the Third Plenary Session of the 18 th Central Committee of the Communist Party of China, the concept of the mixed ownership economy has received extensive attention from all sectors of society, which has effect on a coming new round of reformation on enterprise property. However, in order to take control of the state-owned shares in the end making the state ownership economy become the principal position and to enlarge the scale of state-owned shares, which guides the common development with the non-public sectors of the economy, how to determine the proportion of state-owned shares? Under the background of the mixed ownership reformation, the article explains the mixed ownership by explaining how to enlarge the state-owned assets controlling scale and how to improve the stateowned company ’economic effi ciency and how to protect the interests of small shareholders. The final conclusion is that the SASAC should use the thinking of relative holdings, instead of the absolute control thinking, and should make use of the games among the large shareholders and the pyramidal ownership structure to make the pattern of ownership diversify. Since the Third Plenary Session of the 18th Central Committee of the Communist Party of China, the concept of the mixed ownership economy has received extensive attention from all sectors of society, which has effect on a coming new round of reformation on enterprise property. Yet in order to take control of the state-owned shares in the end making the state ownership economy the principal position and to enlarge the scale of state-owned shares, which guides the common development with the non-public sectors of the economy, of the proportion of state-owned shares? the background of the mixed ownership reformation, the article explains the mixed ownership by explaining how to to enlarge the state-owned assets controlling scale and how to improve the stateowned company ’economic effi ciency and how to protect the interests of small shareholders. The final conclusion is that the SASAC should use the thinking of relative holdings, instead of the absolute contr ol thinking, and should make use of the games among the large shareholders and the pyramidal ownership structure to make the pattern of ownership diversify.