Abstract: This paper explains the reasons for the reform of state-owned enterprises from the perspective of the transformation of industrial structure and the influence of state-owned enterprises on market development, and meanwhile it provides a tentative explanation for the reform of mixed ownership of state-owned enterprises with the logic of marketization. The empirical results show that with the improvement of the market level, the marginal effect of the state-owned enterprises on the rationalization and advancement of the industrial structure is 3.61 and 12.12, respectively; and the choice of the critical time point for the power conversion perspective of industrial structure change is the result of comprehensive trade-offs between the state-owned enterprises and the market, or industrial policy and the competition policy on the overall effect of the rationalization and advancement of the industrial structure; under the premise that the market has replaced state-owned enterprises as the leading of industrial structure change, the influence of state-owned enterprises on the development of the market is a direct reason for the reform of state-owned enterprises. In addition, the paper examines the feasibility of the reform of mixed ownership of state-owned enterprises in improving the level of Marketization from the aspects of corporate governance structure, asset management mode and industry access, which provides a possible explanation for the choice of the reform path of mixed ownership of state-owned enterprises.

Key words: Reform of State Owned Enterprises, industrial structure change, industrial policy, competition policy, mixed ownership