Based on summary for the development achievements and status quo of infrastructure construction investment and financing reform，as well as the systematic analysis on some deep-seated problems of the current urban infrastructure construction investment and financing system in China，some ideas about the system innovation of urban infrastructure investment and financing will be put forward in this article，such as building the differentiated mechanism of project，regulating the government management system，improving social participation mechanism，reinforcing investment supervision mechanism. In the end，according to macroeconomic analysis and forecast during “the Twelfth Five-Year Plan” period，with the outlook of China’s urban infrastructure construction investment and financing，some policy-suggestions to promote the innovation of China’s urban infrastructure construction investment and financing system will be proposed.