As the grand urbanization rapidly progresses in China, Chinese government launches a magnificent urban rail transit development plan as the key part of the preferential public transportation strategy. It is very necessary to establish a viable public private partnership model for urban rail construction. The philosophy of transit-oriented-development （TOD） is discussed in this study by reviewing Hong Kong Railway+ Property development model which is proved very successful in mass transit rail development in Hong Kong. This paper examines current practice of urban transit as of conventional public transport infrastructure in China and looks into ways of getting over the bureaucratic and technologic hurdles in order to generating synergy value and opportunity of rail oriented urban development. Taking the TOD and public-private-partnership (PPP) study of Shenzhen metro line 6 as an example, the sustainable urban rail development model is introduced and elaborated. It concludes that the sustainable urban rail transit shall be able to energize the great potential of rail and urban development at macro, meso and micro levels, through effective integration of administration and technology resources, and generation of win-win scenarios among government, metro company, people and stakeholders.