Competition neutrality rules dominated by Europe and the United States mainly challenge the international trade investment rules under the WTO system in terms of ownership neutrality, public institution definition, special and differential treatment principles. However, the existence and development of any rules has certain characteristics of the time. The essence of competition neutrality evolution is the institutional competition between countries, the technological competition under the new international situation, and the game between the great powers and the emerging powers. By constructing a repeated game of incomplete information formulated by ChinaUS competition neutral rules, it is considered that competition and cooperation are the main characteristics of the game. The patience coefficient is an important factor in determining the progress of China and the United States in the series of games, and China’s patience coefficient is largely related to the demands of domestic market reform. Under the background of the urgent need for reform of the global multilateral trading system and frequent trade disputes, China’s development should focus on how to issue China’s voice and reduce pressure and how to truly implement the principle of competitive neutrality and promote the reform of stateowned enterprises.