A downlink baseband signal generating method, a relevant device, and a relevant system are disclosed. The downlink baseband signal generating method includes: performing channel coding and modulation on a downlink data stream of a user in a cell, and obtaining a downlink coded and modulated user signal of the cell; generating a downlink control channel signal according to physical-layer control information; and forwarding the reference signal, synchronization signal, broadcast channel signal, downlink coded and modulated user signal, and downlink control channel signal to the corresponding RRU, so that the corresponding RRU performs MIMO precoding on the downlink coded and modulated user signal, maps the MIMO-precoded signal, the downlink control channel signal, reference signal, synchronization signal, and broadcast channel signal to their respective subcarriers, performs IFFT transformation to obtain a downlink baseband signal, and sends the signal out. The embodiments of the present invention can reduce the signal transmission bandwidth between the C-RAN node and the RRU.