城中村改造是中国在城市化发展进程中的“农村城市化”问题，是中国建设新型城市的重要引擎之一，是一类涉及国际民生的重要房地产开发项目。由于该类项目一般规模大、占用资金多，怎样通过合适的渠道进行社会募资，是项目能否顺利推进的关键。本文试图以创新的募资形式和成功的实践经验，探讨这一新的融资方式是否具有模式化和进行复制推广的价值。本文采用了信息收集、资料阅读、政策分析、项目访谈、案例分析等方法，对太原市城中村改造项目的融资模式创新进行了系统的分析与研究。主要内容包括国内城中村改造背景分析、项目的资本运作机制分析、太原市具体项目的融资模式创新详解、融资模式创新问题的对策分析、进行城中村改造融资模式创新的意义等，并通过万柏林区XZ村城中村改造项目的募资方式，通过开发商、政府平台公司、商业银行三方的联动，无风险解决了资金拆借问题。并作为社会募资最重要的创新点，对引入社会资本的渠道方式，资金专户管理、封闭运营的模式等进行了详细介绍，进而在太原市多个项目进行了推广。这一城中村改造的创新融资模式，符合银监会政策，符合国家政策。城中村改造项目的融资模式创新模式，核心在于政府对项目的主导和土地出让金的返还，这也是这一模式得以成立的基础。这样形成的商业逻辑，商业故事讲得通，资金形成闭环，所有的策略完全符合国家红线，可以说是一种崭新的资金运作模式。在投行的角度，这一模式具有一定的学术研究价值，在资本运营上具有一定的超前性。本文研究的一个重要结论就是，在城中村改造社会资本募资中，这一模式可信、可行、可复制，为同类项目的实施提供了参考和依据，为在城中村改造项目中这一模式的推广使用奠定了良好基础，从而把这一创新模式完善成为今后城中村改造融资的主导渠道、主流方式，助力全国的城市化发展。这一城中村改造项目的创新融资模式，是有中国特色、进行融资创新的一种模式，对城中村改造项目融资模式创新的研究，在多个方面具有积极而重要的意义。

Urban village reconstruction is a "rural urbanization" problem in the process of China's urbanization. It is one of the important engines for the construction of new cities in China. It is also an important real estate development project involving international people's livelihood. Due to the large scale and large amount of funds occupied by such projects, how to raise funds through appropriate channels is the key to the smooth progress of the projects. This paper attempts to explore whether this new financing method has the value of model and replication promotion by means of innovative fund-raising form and successful practical experience.Based on the methods of information collection, data reading, Policy Analysis, project interview and case study, this paper makes a systematic analysis and research on the financing mode innovation of the urban village reconstruction project in Taiyuan. The main contents include the analysis of the background of the reconstruction of villages in cities in China, the analysis of the capital Operation Mechanism of the project, the detailed explanation of the innovation of the financing mode of the specific projects in Taiyuan, the analysis of the countermeasures of the innovation of the financing mode, the significance of the innovation of the financing mode of the reconstruction of villages in cities, etc. , through the way of raising funds for XZ village reconstruction project in Wanbailin district,through the cooperation of developer, Government Platform Company and Commercial Bank, the problem of fund borrowing is solved without risk. As the most important innovation point of social fund-raising, it introduces in detail the ways of introducing social capital, the management of fund account, the mode of closed operation and so on, and then promotes many projects in Taiyuan.This innovative financing model for the transformation of the village in the city is in line with the policies of the CBRC and the state. The innovative mode of financing for the urban village reconstruction project lies in the government's leading of the project and the return of the land transfer funds, which is the foundation of this mode. This form of business logic, business story makes sense, funds form a closed loop, all the strategies fully in line with the national red line, can be said to be a new mode of operation of funds. From the perspective of Investment Bank, this model has certain academic research value and has certain advance in capital operation.An important conclusion of this study is that this model is credible, feasible and replicable in raising funds for social capital in the transformation of villages in cities, which provides reference and basis for the implementation of similar projects, it lays a good foundation for the popularization and application of this mode in the reconstruction project of the village in the city, thus consummating this innovative mode into the leading channel and the mainstream mode of financing for the reconstruction of the village in the city in the future, and boosting the urbanization development of the whole country. The innovative financing mode of the urban village reconstruction project is a kind of financing innovation mode with Chinese characteristics, and the research on the financing mode innovation of the urban village reconstruction project is of positive and important significance in many aspects.