The disposition of enterprises ownership is the essence and the reform of Stated owned Enterprise has roached it．The paper does not agree on the viewpoint that capital hire and owner of capital has the ownership of enterprise．though it is made by history and has practised for long time．The paper points that three explains on why does capital hire lagour are not rational．our objective of reform is combining State ownership with marketing economy and the times of intellectual economy has came．So it is important that the disposition of ownership for Stated—owned Enterprise is that intelligense hire capita1