Abstract: The relationship between the government and social capital affects the actual allocation of the PPP project control rights, but few scholars have made a quantitative analysis of the influence of control rights on the project performance from the perspective of relationship governance. This paper developed the measurement scale of control rights to collect the data, and then constructed the structural equation model to analyze the interaction of control rights, relationship governance and project performance. The empirical study shows that:(1)trust and commitment both have a strong positive correlation with the allocation of control rights; control rights overall positively impacts project performance. This shows that, if the public and private sectors increase mutual trust and honor their commitments, this would increase control rights of the private sector, thus improving the performance of the PPP project. (2) Cooperation has a strong negative impact on the allocation of control rights; communication has a negative impact on the allocation of product(service)price, concession period and income distribution control rights. This shows that, the critical path for public-private sector coordination and cooperation to improve the performance of the PPP project is not driving the government to transfer control rights to the private sector. Therefore, the government should dynamically adjust the structure of control rights of the private sector, based on the trust, commitment, cooperation and communication relationships between public and private sectors, to effectively improve the PPP project performance by the synergy between the relationship governance and the allocation of control rights.