The research shows that the structure of agricultural investors has changed in institutional changes . traditional government ' s dominating agricultural investment system has already transformed into the folk dominating one which is mainly peasants 研究表明制度变迁下农业投资主体结构发生了变化,传统的政府主导型农业投资体系已逐步转变为以农户为主体的民间主导型农业投资体系。