Zhejiang Province Regional Innovation Capability Enhancement Research-based On Factor Analysis

Innovation capability has been considered the most valuable productivity in recent years, with the continuous adjustment of global industrial economic structure, technology research continue to upgrade and development, all countries try best to get innovation and development in various fields. At present, the Chinese economy has entered a critical period of development of the new normal, due to differences in the level of regional development, human capital, market-oriented process, government intervention and financial developments and other factors, regional innovation capability gap is widening. Scholars for innovative research to a certain extent ignore on the ability to the impact of the institutional environment on regional innovation capability. Therefore, from the perspective of the system of environmental and human capital to analyze its impact on regional innovation capability of the provinces, and by comparing and analyzing the advantages and disadvantages exist in Zhejiang regional innovation development, and promote the transformation of economic development in Zhejiang Province, has a high ability to enhance innovation theoretical and practical significance.This paper reviewed the relevant literature institutional environment, human capital and regional innovation, understanding the meaning and development of related concepts, learn to choose some common indicators factor from the innovation capability evaluation. three aspects of institutional environment, human capital and innovation input and output factors to establish a regional innovation ability evaluation system of Zhejiang Province. secondly, comparative analysis and evaluation of several commonly used methods and introduces the basic idea of factor analysis, the use of Excel, SPSS17.0 software for data collection and collation operations, making a summary based on a comparative analysis. Finally, give some suggestions from the institutional environment and human capital perspective.The analysis revealed the following findings:First, the current regional innovation capability of China’s provinces have improved the overall level, but the gap between strong innovation provinces and behind innovationprovinces is growing. Eastern institutional environment and human capital in good condition, the regional innovation ability is generally stronger.Second, in the south east coast of China’s, market-oriented process is more mature, regional innovation driving force is stronger, Zhejiang regional innovation capability developed stability. Compared with the central and western innovation behind provinces, there is a big advantage, but there is also a certain distance gap with the strong innovation provinces.Third, all the systems of production and distribution system of government finances, market processes and other systems of environmental factors and investment for the human capital is an important reason that why the innovative capability of Zhejiang province behinded the strong innovation provinces.Fourth, another important factor that why Zhejiang province regional innovation capability behinded is that the innovative technological innovation change into the market-oriented production capacity is not enough.