We introduce and analyze operating mechanism of three major rural land joint-stock cooperative systems in China, including community type (Nanhai model), collective leasing type (Ningxia Pingluo model) and joint operating type (Zhejiang Jiande model). Current rural land joint-stock cooperative system has following characteristics. Firstly, adhere to the collective ownership and household contract responsibility system in rural areas. Secondly, safeguard farmers’ land contractual rights and interests. Thirdly, implement large-scale agricultural production and operation. Fourthly, carry out normative operation of farmers’ cooperatives. On the basis of these, we point out such problems as backward technology and short of funds in development of rural land joint-stock cooperative system. Finally, we conclude that the development of rural land joint-stock cooperative system should fully draw lessons from foreign advanced experience, actively try new model like securitization of rural land, to explore a road suitable for current national conditions.