“Capital inflow in village” tries to get direct access to production chain through land scale transfer,so as to constitute capitalized scale operation and expand to the whole agricultural industry chain.Based on empirical investigation in Huangcun village of North Anhui Province, this paper attempts to study the performance and social and economic consequences of “capital inflow in village”.The result shows that “capital inflow in village” has rapidly formed large farms,but it fails to make profits in the production link through scale operation.Industrial conversion and withdrawal from the cultivating link are often seen with the guidance of capital regulation.