In the course of popularization of the higher education in China, the privately owned colleges play an indispensable role, but their status can′t match their role. In the context of numerous state run colleges and universities, privately owned colleges must identify their pivot for development on the basis of their characteristics. This article argues that those large scale privately owned colleges should transform to comprehensive universities, while most newly emerging privately owned colleges should aim at the vocational education. Moreover, they ought to depend on their own exploration and the strong support from the government and the society.