It is an important feature of China’s infrastructure REITs deal structure system that the issuers of infrastructure REITs projects，as strategic investors，should repurchase a certain share of REITs. In practice，the repurchase share of different projects presents a differential distribution. This report systematically analyzes the influencing factors and influencing paths of the issuers’ decision，summarizes the influence mechanism and logic with the expected results as the direct influencing factor，industry attributes and issuance motivation as the restrictive influencing factor，and project attributes and enterprise attributes as the internal influencing factor，and puts forward the “alien eye model” of the influencing factors of the issuers’ repurchase share，which could provide references for issuers when making relevant decisions and industry regulators when managing the industry or making policies.