Large infrastructure projects play an important role in new-type urbanization; the governance structure has determined influence on the realization of construction target. Based on project network governance research and a case of Nanning Railway East Station program, governance evolution characteristic of large infrastructure projects was analyzed; adoption advantage and stability risk about network governance structure was revealed; regulation authority was added to network governance, which could get advantages complement both of government and market system and give reference for large infrastructure project construction management improvement and implementation of PPP in the government-market environment.