This paper firstly analyzes the main body of wisdom city construction and operation, puts forward the main problems faced by investment and financing of new wisdom city construction, and analyzes the financing channels of wisdom city construction. And on this basis, it introduces the PPP mode and its characteristics, summarizes the advantages of PPP mode in the construction of innovative smart cities, and finally points out the focus of future development of wisdom city PPP project, in order to provide reference for the future research of relevant researchers on the investment and financing mode of smart city construction.