Under the new situation that the state strictly controls the invisible debts of local governments，encourages market-oriented transformation of urban investment companies，and regulates government investment management，many urban investment companies are confused by how the city investment companies that have been divested by the government’s financing functions can comply with laws and regulations. This paper analyzes the feasibility of urban investment. Company to undertake government projects from the perspectives of policy，platform transformation，stable investment，and new urbanization. It also sorts out the issues that should be paid attention to when undertaking government projects，and finally how the city investment company is legally compliant. The path analysis was carried out under government projects.