Abstract: The influence on the original asset of the strategic investors from joining the state-owned commercial banks is the key element that the commercial banks choose strategic investors, and in order to acquire accordance effect, or avoid competitive pressures, the strategic investors join the state-owned banks with their rich assets. From the angle of investment theories, through the reciprocal or strong-replacement cooperation with the strategic investors, compared with cooperation with moderate-replacement strategic investors, the state-owned banks can acquire larger effects, and their cooperative strategic investors are less probable to change into financial investors. So, state-owned banks' cooperation with reciprocal or strong-replacement strategic investors is the prerequisite for the state-owned banks to introduce strategic investors.