The development of collective economy is an essential component of the Chinese-style modernization. Through the investigation of the “two factors， three stages， and four entities” of collective economy in case study villages， it was found that the unique pattern of collective economy governance lies in “developmental governance”， that is， development prioritizes governance and governance serves development. Specifically， during the initial stage of the rise of the collective economy， all entities prioritize development and a state of ambiguous property rights and government support was formed. In the development stage， the villagers’ demands for rights may not necessarily break the dominance of the dual cooperation between the village organization and the local government. However， with the central value guidance and the promotion of property rights clarity， the collective economy was forced to enter the stage of governance system reform. The effective implementation of developmental governance benefits from the effective operation of three mechanisms： the mismatched support from the central and local governments in different stages， the differential allocation of collective property rights at different times， and the strong policy guidance of the state towards social values. In the future， it is necessary to further address the demands for farmers’ rights， transform government support method， and promote the construction of endogenous capacity of collective economic organizations.