Abstract: The implementation of the “Administrative and Institutional State-Owned Asset Management Regulations” in 2021 has introduced new requirements for the management of state-owned assets in universities, emphasizing the principles of “safety and standardization, thrift and efficiency, openness and transparency, and responsibility and authority alignment.” This paper explores the application of the Regulations in the management of university state-owned assets and analyzes the current challenges faced by university asset management, including the shortcomings in asset preservation, the lack of scientific linkage between asset allocation and performance evaluation, and the contradictions between the roles of asset management personnel and internal controls. The article proposes the optimization of asset management practices through the “Three Questions” concept (Is the asset present? Is it functioning well? Is it worth doing?) and suggests optimizing the asset management system through deep integration of finance and assets, clarifying job functions, and strengthening personnel allocation. It also proposes optimizing the business processes of asset management through strict norms and enhanced services, and initiating the construction of an asset performance evaluation system through the establishment of three evaluation systems: “budget-asset,”“planning-asset,” and “talent-asset.” These measures are instrumental in enhancing the management level of university state-owned assets, ensuring the safe and efficient use of assets, supporting university teaching and research activities, and promoting the sustainable development of universities.