The right of the parent company or the subsidiary company is big but the responsibility is very small. Subsidiaries are lack of communication or have some irrational competition. The sources of non-equilibrium in the parent-subsidiary companies' governance are: the parent company's authority boundary is unknown; the subsidiary company's governance has not been established; the incentive and restraint mechanism of agents are imperfect; the information mechanism of the parent-subsidiary companies is deficient; the corporate culture is absent. Only by means of establishing the balance mechanism of responsibility, powers and interest, optimizing authority allocation mechanism, improving the incentive and restraint mechanism, establishing a group coordination mechanism, establishing a unified culture, and the other optimization mechanism, can play the group company's overall effect.