The idea of regarding market economy as the means of resource collocation dominated China's reform in the later decades of the 20^th century.The solution of the deeper contradiction of the economic system needs a new understanding of the essential of the economic institution reform in (China) which means not only the transition of the means of resource collocation,but also the regress of (economic) rights from government to demos.Demos as the economic subject,in the whole process of (economical) activity,the regress of economic rights include: competition right,organization right,(estate) right,bargaining right,innovation right.