Based on the overview of the role played by farmers’ co-operatives in developing rural economy and existing problems, the thesis has introduced the factors which influence the development of farmers’ co-operatives including five aspects, namely conditions of scale economy, popularization and application of agricultural production technology, comparative advantage, market expectancy and government support. By analyzing typical cases of three co-operatives in Guangxi (Heng County Dadi Growing Co-operatives, talents-leading share-holding co-operatives; Long’an County Guixiniu Co-operatives, co-operatives led by leading-enterprise; Nanning City Tanluo Town Jinguang Fruits and Potatoes Co-operatives, co-operatives led by leading-enterprise), the way to develop farmers’ co-operatives by dint of the external capital has been discussed. The results demonstrates that conditions of scale economy, popularization and application of agricultural production technology, comparative advantage, excellent market expectancy and government support, are conducive to absorbing external capital. Under China’s existing economic conditions, the government should normalize the use and allocation procedure of program fund.