Based on the theoretical analysis framework of ″technology-division of labor-ownership″, taking division of labor as the bridge connecting technological progress and ownership relations, this paper reviews and compares the three stages of China's rural collective economic development, and then reveals the theoretical logic and future direction of the effective operation of the new rural collective economy. The development of the new rural collective economy must adapt to the requirements of deepening division of labor driven by technological progress, and adjust the functional structure of collective ownership, thereby enhancing the collective economy's capabilities in value creation, value realization, and equitable value distribution. Cooperative management, based on the 'separation of three rights', is recognized as an effective institutional arrangement for the operation of the new rural collective economy, facilitating the concurrent achievement of production efficiency and common prosperity in the development of the new rural collective economy through the cooperation, symbiosis, and co-creation of value among diverse stakeholders.