Abstract: This paper stands on the theory of urban polity 'government-community-market' tripartite analysis framework, studies the transformation of village industrial park in Tianhe District, Guangzhou. It is found that in the transformation process, the village community is in a weak position in terms of participation, negotiation and decision-making power, so the government and market forces form an alliance of growth, dominate the developing direction of the project. It is suggested that government should cultivate, correct and remedy the village community's power according to different situations, so as to fundamentally achieve the transformation of the village's property to innovative industry and healthy development of urban renewal in a sustainable way.