For the studies on the innovation capability, there are many limitations in using traditional statistical techniques. The grey system theory proposed in this paper is to supplement the limitations of using traditional techniques and it is more suitable to figure out the significance of influencing factors for facilitating innovation capability. Based on the statistical data from Chinese high-tech industries, over the period 2006-2008, this paper used fifteen indicators affecting the innovation capability, and it applied grey relational analysis to find out the significant factors. The results show that expenditure and persons engaged in science and technology activities are the significant factors affecting innovation capability within Chinese high-tech industries, and the efficiency for input-output of resources is less significant factor, which implies that the efficiency for input-output within Chinese high-tech industries is lower, and its effect to facilitate Chinese high-tech industrial innovation capability is insignificant. In order to facilitate Chinese high-tech industrial innovation capability, the government and enterprises should pay enough attentions to not only the expenditure and personnel engaged in science and technology activities, but also enhancing the efficiency for input-output of technology resources.