Rural collective-owned commercial construction land transaction is an important method to boost the factor allocation marketization and to activate rural land resources, in the practice and reform of all places, two village committees and collective assets management company (VC-CAMC) play a core role in governance process and transaction process respectively, and VC and CAMC are usually integrated to form a cross structure with VC-CAMC as the link and horizontal and vertical structure. Based on grounding theory, the survey and analysis of Baohua Village, Pidu District, Chengdu City find that the grassroots governance for its collective-owned commercial construction land transaction takes its VC-CAMC as the core, combines “autonomy-based”, “law-based” and “virtue-based” ways to form holistic governance system, takes autonomy-based governance as the basis to form scientific and artistic governance method, takes law-based governance as the essence to make the transaction from implicit transfer to legal transaction, and takes virtue-based governance as the guidance, as a result, the local elites use “advanced villagers to lead backward villagers” and “the Party members to lead the masses” and so on to promote the land transaction. We should take the advantage of deepening rural collective property right system reform to further tamp VC-CAMC and let VC-CAMC play a core role, take land management laws and the regulations issued by the departments of natural resources and agricultures as well as villages as the standard to further standardize each main body’s behaviours and each step process, take the cultivation and guidance of new solons as the grapple to further bring into fully play the modelling of the rural elites with good family condition and higher prestige by using virtue-based governance.