A bi-level network-generation coordination planning model of an active distribution network considering the time sequence characteristic of distribution generation and load is put forward. The upper level of the model is a planning level, which aims at finding the minimum comprehensive cost in deciding the upgrade of lines, type selection, locating and sizing of DG and compensation capacitance. The lower level of the model is an operation level which takes annual operation cost, fast voltage stability, and satisfaction of electricity usage habit as the objectives. Given the volatility and uncertainty of DG and load, their time sequence model is established. It comprehensively considers distribution generation, demand response and compensation capacitance switching to realize the economic dispatch of the active distribution network. Simulation tests of the proposed method are carried out based on an improved IEEE 33-bus distribution system. The simulation results show that the proposed network-generation coordination planning method can reduce the investment and operational cost of an active distribution network while at the same time increasing effectively the efficiency and permeability of distribution generation. This work is supported by National Natural Science Foundation of China (No. 51977156) and Science and Technology Project of State Grid Corporation of China (No. 52130N190005).