Last three decades have witnessed large-scale urban development in many Chinese cities, including urban sprawl and urban renewal activities. Meanwhile, rail transit (mainly metro transit) has been constructed in many large cities for mitigating widespread transport problems. The mechanism of land use and transport interaction has been illustrated in literatures and tested in real word cities. Yet the spatio-temporal synergy between land use and rail transit has not been fully understood. This study intends to explore characteristics of land use and rail transit development by analyzing observed data in a five-year period. Based on the statistics, the total annual trips in Shenzhen has grown steadily from 2011 to 2015, and the characteristics of peaks and spatial differentiation are significant. The proportion of land use around metro stations is not significant, but the average floor area ratio has grown steadily with an average annual growth rate of 3.5%. A ridership-land panel data set is constructed. Parameter estimation and mixed linear model with fixed effect are applied for analysis. Findings include: First, there exists significant correlation between ridership and FAR and land use type; Second, FAR, proportion of business, commercial and residential land are significantly positively correlated with ridership; Third, the proportion of land for public service facilities is negatively correlated with ridership; Fourth, between the positive correlation factors, the impact of commercial land development is much greater than any other types of development.