Research conclusions: From the research it is concluded: (1) On considering that the property resources can not be used as the capital under the current policy, it is proposed the government should set up a construction fund or make a promise of the financial investment for urban rail transit to avoid the capital risk and obtain the approval of projects. (2) The construction and operation of the blinded subway with the property should be evaluated as the comprehensive project. (3) The following points should be considered in the economic evaluation: The internal rate of return should be oriented from the cost of the market capital and on considering the a certain risk investment，it should be a little higher than the bank long-term loan to attract more social capitals. (4) The incremental benefits deducting the property development cost and the amount of contribution of the subway capital can be regarded as the "resource income" and go into the cash inflow，and the inputs and outputs of the other items should be calculated according the subway mode.