By analyzing the general conditions of the investment and financing of infrastructure of China in 2018 from the perspective of legislation，administration，PPP projects and market relationship，this article summarizes the internal logics of the infrastructure investment and finance，and accordingly suggests the direction of development of the study and practice of the relevant mainstream idea and theories. From the perspective of PPP in China，this article also advises on the reform of the system and mechanism of infrastructure investment and finance in China，i.e.，with the direction of the idea of XOD，creating a model of investment and financing which can effectively keep the balance of relationships among the central and local governments，the market and the system of ownership，and so as to lay foundations for the sustainable development of China in the coming 10 to 20 years.