Abstract:From the diachronic analysis of institutional linkage, in the pilot zone for China’s comprehensive reforms (PZCRR), the regional capital market will be intentioned as exogenous variable The PZCRR attached by the regional capital market can improve the decision efficiency and has better stability than the PZCRR which has not it From the synchronic analysis, the PZCRR can be viewed as some kind of recombined or rebounded to the original institutional linkage All kind of institution which are separated on the sense of economic geography can be fusion further in the areas of the PZCRR It will provide the stakeholders more opportunities to choice a more efficient strategy portfolio And it will accelerate the old institution to disappear, be improved and be substituted in the original domain