For state-owned enterprises, it is often difficult to balance their macro functions and corporate efficiency, especially in the highly competitive field of the trading market. Through a case study of a state-owned trading enterprise called “Chaoshifa”, this paper summarizes and refines concepts of the “state-owned system”, “private mechanism” and “entrepreneurs' socialism ideology”. It is found that under the bonding effect of entrepreneurs' socialism ideology, state-owned trading enterprises can achieve sufficient micro-efficiency while balancing macro functions by practicing the mode of “state-owned system + private mechanism”.