In the past 40 years of reform and opening up, Chinas publishing industry has undergone a series of problemoriented institutional reforms. The problems to be solved in the reform of the publishing system include four aspects: firstly, give full play to the markets decisive role in the allocation of publishing resources through reform measures of supply and demand, price, capital market, production factors, market system, and so forth. Secondly, gradually clear market access barriers in the publishing field, constructing the ownership structure with public sector as the main body and multiple forms of ownership to participate in publishing activities.Thirdly, identify the market subject status of publishing units, and establish a microoperational mechanism that conforms to the laws of spiritual production and is compatible with the socialist market economic system. Fourthly, enable the government to better play its role by way of the improvement of the macro management system, the establishment of a public service system for publication, and the strengthening of market supervision. All these issues are overall, fundamental and crucial ones. The successful resolving of these issues would provide guarantee for the reform, development and prosperity of Chinas publishing industry.