The “News Report” newspaper has made a good result in the fierce competition of newspaper press during the period of Republic of China in Shanghai，mainly due to: a strong，broad vision and steady-pace manager, holding the principle of “heavy commercial，casually mentioning political”, paying attention to the local news and release on time, focusing on the effectiveness and quality of the newspaper, learning from others then to make up for their own, strengthening the field of management and advertisement, having a strong feeling of social responsibility, keeping a strong sense of hardship, with deep hardship consciousness and competitive spirit. However, till to middle term and late period of Republic of China, this newspaper secretly became weak from strong, its main reason was its losing patriotic spirit, neglecting national style, having not known the bid trend of historic development, being bought, operated and controlled by Government of Republic of China, and becoming practical Party Newspaper of Guomindang.