After two years of high-pressure supervision in 2017 and 2018，the original disorderly development of the urban investment industry has improved，and it has gradually moved towards a standardized and orderly manner in 2019. In terms of transformation，changes in concepts，innovative methods and methods，especially large-scale of integration and reorganization，have brought urban investment companies a new look；In terms of financing，blocking the “undercover” and opening up the “channel”，especially to play the role of special bond to ease the financing pressure of urban investment industry；In terms of operation and management，it promotes reforms and implements pilot projects，especially the change from managing personnel to managing assets to managing capital，which gives urban development and investment corporations the power to operate independently. It is true that the industry is gradually improving，but there are still challenges. 2020 is the year when the 13th Five-year Plan is moving towards the final assessment and laying the foundation for the development of the 14th Five-year Plan. With the current economic downturn and the impact of the new strain of coronavirus on the domestic and foreign economies at the beginning of the year，the pressure on economic growth is undoubtedly more severe. Among them，how urban development and investment corporations can make good use of the changes in the 13th and 14th Five-year Plan，seize the opportunity，better perform its duties in a regulated manner and reverse the economic cycle adjustment function，and simultaneously plan its own higher quality and orderly development are worth discussing. In this chapter，we first summarize the development environment of the urban investment industry in 2019，then analyze the development status of the urban investment industry in 2019，and finally make a judgment on the future development trend of the urban investment industry.