With the continuous developing of urbanization in China, the problems of urban village reconstruction appear one by one. During the transformation of urban villages, the government, social capital, and villagers continue to engage in interest games. The urban villages in Jiaozuo City, Henan Province have been renovated since 2006. With the continuous expansion of the task of rebuilding villages in cities, the influence brought by the government and urban management has gradually deepened. This article takes CH Village in Jiaozuo City, Henan Province as a case study, and studies the village-in-city phenomenon in CH Village that coexisted before and after reconstruction through the qualitative methods of document analysis and field investigation. The analysis found that these conflicts of interest are mainly land compensation, demolition compensation, resettlement housing and deeper interest entanglements. These reasons directly lead to contradictions and conflicts among villagers, village committees, governments, and developers. Last, suggestions for the reconstruction of urban villages in non-economic fast-developing areas in the future are put forward.