One of the definite requirements in "National Guidelines for Medium-and Long-term Educational Reform and Development (2010-2020) " is to establish release system of annual report on higher education quality issues. Colleges and universities of all types and at all levels express positive response, and have released their annual reports as the "first step". However, the quality of those released reports falls far short of public expectations. This paper discusses three options including the quality report of undergraduate teaching, college performance accountability report and social responsibility report similar to corporate, and introduces the index system used by domestic and foreign universities in practice. <<