Energy saving and emission reduction is an important worldwide issue. To overcome the obstacle of promoting energy saving and emission reduction projects, it’s very important to transform the mechanism of government enforcing execution into market automatic execution. Based on case study, we found that, under the market mechanism, different contract arrangements produced significantly different effects. On the one hand, there are three contract arrangements, cash sale, financial leasing and energy performance contracting (EMC) to develop the energy saving market, and the best contract arrangement is EMC; On the other hand, the provider of energysaving equipment can realize the unlimited equipment supply by saleleaseback when his own resources are limited. The reason why different contract arrangements can result in different effects is whether the contractholders have surplus. Only all contractholders have surplus, can the transaction be accepted and executed automatically by all parties of contracts. The research results have instructive significance to promote energy saving and emission reduction projects, at the same time, it gives management researchers inspirations to mine the folk wisdom in management practice and construct management theory.