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Castells proposed that “space of flow” has multiple layers, and considered that transportation infrastructure is the carrier of its formation. However, few studies have focused on whether the infrastructure behind factor flows can provide sufficient support. In this paper, the basic supporting role of traffic networks in regional factor flows is examined. Firstly, we use traffic-connection data, enterprise-investment data and human-flow data to build a traffic network, enterprise-association network and inter-city-trip network, respectively. Then, we construct fitting models of the traffic network and the other two networks from two aspects: centrality and connection degree. Finally, this paper analyzes the standard residuals of the fitting results and looks for outliers that are greater than 1.65 or less than −1.65. Through outliers, we can find out where the traffic network cannot support the inter-city factor flows, and where the traffic network is too developed. The conclusions are as follows: First, the immaterial capital flows are still affected by the connectivity of transport facilities. With an improvement in traffic conditions, the capital links between cities can be enhanced correspondingly. Therefore, cities can gather more capital. Second, the attraction and radiation power of high-grade cities in terms of both human and capital flows are far beyond the traffic condition. They also motivate the neighboring cities to form a scale of capital- and human-flow connection that exceeds the average traffic conditions of the whole province. By analyzing the relationship between factor flows and infrastructure, and identifying mismatched networks, this paper will be helpful in many regards. It can provide guidance for Zhejiang Province in formulating transportation strategies. In addition, the conclusions can also provide decision-making support for optimizing regional infrastructure construction.

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