In the transitional period, the traditional top-down and government-led social management style cannot fit well with the needs of community development, and then it’s imperative to carry out the grassroots social management innovation. This paper firstly adopts the social capital perspective to construct a theoretical framework about the dynamical relationship between grassroots social management innovation and community development. It then analyzes the data collected from questionnaire surveys, onsite interviews and observations from the Xiaojiahe Community in Chengdu’s High-tech Zone to examine the reasons for the successful social management innovation in the perspective of social trust. It’s found that the availability of social capital determines the choices of methods for social management innovation in grassroots organization, and this innovative process in turn strengthens the accumulation of social capital which would promote community development. The holistic and coordinated community development would thus further improve the quality of social capital. It’s expected that this study will provide references for social management innovation in the future.%社会转型背景下，我国自上而下的政府主导的社会管理模式已经无法适应社区发展需要，基层社会管理创新势在必行。本文首先从社会资本这一概念入手，构建了以社会资本为中介的基层社会管理创新与社区发展之间存在互动关系的理论框架；然后以成都市高新区肖家河街道为例，结合实地调研、问卷和访谈等方法，从社会资本角度，分析了肖家河街道以院落自治为主要内容的社会管理创新得以顺利开展并取得成效的原因。研究发现：社会资本现状决定基层社会管理创新模式的选择，基层社会管理创新过程有助于激发社会资本存量，社区社会资本的增加将促进社区发展，而社区整体协调发展过程将进一步提升社区社会资本质量。希望本文的研究结论对今后的社会管理创新提供借鉴。
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