Due to change of the time and environment, the state-owned enterprises with a continuous loss have become difficult to compete with private enterprises. In 1996 on ”National Development Conference”, government passed a motion that planed the next five years to privatize state-owned enterprises. Since 2001, the state-owned enterprises started gradually toward privatization. In this research, we will study the first privatization, Taiwan Shin Sheng Daily News, and interview the former president Huang Ching-Wen to talk about the bottlenecks by faced of company, the process of privatization, and his experiences. We hope our research can be used as an important reference for the state-owned enterprises which are planning to privatization in the future.