| In the context of new knowledge economy, university's development has being a crucial subject quietly into the researcher's vision and practice field. However, the research on university's development and how to promotion it at the regional level is not yet more common, especially in catching-up region in China, the study isn't assumption. In view of this, how to fully understand the regional university, particularly understanding the functions of regional university in their regions and the impact on regional innovation should be the proper meaning of this study, its theoretical and practical significance is not self-evident.Based on the perspective of knowledge spillovers, this study examines the regional university's development through a series of methods such as theoretical deduction, case studies, surveys and data analysis. Specifically, this dissertation focus on three major issues:(1) The content, features and new functions undertaken in the context of knowledge-based economy of regional university;(2) The theoretical framework of regional university's development. It will be a base of functional positioning, values and life path of regional university as a regional "knowledge hub";(3) The public policy arrangements for guiding the regional university positioning and promoting the region's continuous innovation.The conclusions of the paper are as follows:(1) University has experienced the mode evolution from the "knowledge warehouse" to "knowledge factories" to "knowledge hub". More rational grasp of the university's development, which need to put the issue in the dynamic changes of the regional social subsystem, that is explore the university's development "fit" the regional development.(2) Regional University has a unique "niche" in higher education institutions ecosystems, and assumed a "knowledge hub" function in the region. As a center of knowledge innovation, integration and spreading, which through the "cradle function" "magnet function", "innovation, cooperation and coordination function" these three sub-functions to play the function of "knowledge hub"(3) The regional university's development in pursuit of knowledge development as its core values, knowledge production and dissemination of its development remains a top priority. Based on the regional university's positioning, the value orientation of regional university should put teaching as important as research. As the public knowledge pool in regions, regional university should to provide sustained mental supply for the region's development.(4) The development of regional university should be weakened the path dependence from the teaching and research university to the research university, whereas strengthen its function of "knowledge hub" to meet the needs of regional socio-economic development. Regional University should more involvement in regional development, particularly in the positive interaction with the regional industry, continuously creating new knowledge for the region, and enhances the regional capacity to absorb the existing knowledge, will enable the transformation of traditional industries as well as the birth of new industries, the ultimate to promote endogenous development in its region.(5) The empirical evidence shows that, to be a good play the functions of "knowledge hub" due to the effect of knowledge spillovers through a large number of boundary-spanning activities. National and regional education development plans is the key catalyst to promote the regional university to carry out boundary-spanning activities and knowledge spillovers. Industry-university cooperation is one important means to breakthrough the knowledge filter and strength university knowledge spillovers. Therefore, we should establish a scientific plan and a set of core concept to leading regional university's development. Furthermore, design and implement the "Building Regional University as Knowledge Hub for Innovation" grogram would be a good public policy arrangement for regional university's development.
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