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Bridges play positive roles in the process of place development. Bridges affect changes in place images, which, in turn, are shaped by changing capital flows. Place image and place identity are intertwined. However, relatively little attention has been paid to the relationship among capital flows, place image, and place identity. This paper takes San Jiadian (SJD) village in Beijing as a case study and the Yongding River bridges around SJD as the main units of analysis. This paper aims to explain how the bridges influence the formation and change of place images during different historical periods and to provide a Chinese case for the relationship among capital flows, place image, and place identity. We draw the following conclusions. The change in the ownership of the bridges led to a change in capital flows to the bridges and the village, thereby leading to a change in the place image. Moreover, the new place image weakens the place identity of the villagers. The villagers' place identity should be considered for a place's new development direction and changes in the place image. [ABSTRACT FROM AUTHOR]