The law of the People’s Republic of China on state-owned assets of enterprises (hereinafter referred to as the law on state-owned assets of enterprises) establishes a comprehensive supervision system of enterprises’ state-owned assets in principle. However, at present, the supervision and management system of enterprises’ state-owned assets has the confusion between the investor and the supervisor, and the confusion of the rule maker, the executor and the beneficiary, which makes it difficult to realize the comprehensive and effective supervision of state-owned assets of enterprises. The decision at the third plenary session of the 18th central committee of the CPC clearly stated that we should improve the management system of state-owned assets, strengthen the regulation of enterprises’ state-owned assets mainly by capital management, and reform the system for authorized management of state capital. This raises more challenges for how to strengthen the regulation of enterprises’ state-owned assets. The regulation of enterprises’ state-owned assets should give consideration to different regulatory subjects, regulatory means and regulatory objects, clarify the responsibility boundary of each regulatory subject, and supervise the operation and management behaviors of enterprises’ state-owned assets from different links. The degree of legalization of administrative supervision in the regulation of enterprises’ state-owned assets is a direct reflection of the effect of the reform of administrative management system. The establishment of a set of legal indicators and assessment standards for administrative supervision in the regulation of enterprises’ state-owned assets is to provide an operational rule of law code of conduct for the government in the field of the regulation of enterprises’ state-owned assets. When using administrative supervision means, the supervision subject must meet the standards of rule of law in supervision basis, supervision object, law enforcement accountability and other aspects.