The paper s statistical analysis reveals that the performance change after part privatization is worse than entire privatization s that among Chinese state-owned listed companies during 1999-2002 years.

The convergence and strengthening of "non-government forces" is the logical orientation of urging the government moderate exit and the further reform of China s Securities Market.

Based on the performance data from Zhejiang provincial state-owned enterprises and all walks in Year 1996-1999, two indexes "entry rate" and "exit rate" are used in this paper to calculate the state-owned enterprises interference in all walks .