Abstract:Considering the needs for various financing patterns in the construction of agricultural infrastructure, this paper points out that Shadow Tolling (ST) pattern is particularly applicable to the construction of rural roads and water conservation infrastructure in China, because ST model can effectively alleviate the pressure of the fiscal transfer payment and provide low risk investment channels for social capital. After introducing the Design-Build- Finance-Operate(DBFO)structure of ST, this paper proposes the basic structure of ST for rural infrastructure construction project based on service flow (traffic flow or irrigation area), as well as its deficiency and improving methods. As to the application of ST pattern, this paper puts forward the following suggestions: perfecting related policies and laws, establishing relevant statistics mechanism and data base, inviting public bidding with prudential principles and depressing the “moral hazard” of social investment subject.