In this paper，we take the Wenzhou Private Lending Service Center，which was founded in the comprehensive financial reform in Wenzhou in 2012，as an example to discuss the choice of organizational form in the productionof innovative public goods. We found that while the local government outsourced the private lending registration system，which was a kind of innovative public goods to a company to produce，the company itself showed certain organizational characteristics of government departments. Our study shows that production of innovative public goods is constrained by high degree of uncertainty of technical environmentor institutional environment. Local governments will try to reduce the possible loss due to high uncertainty form both environments，an important strategy of whom is to choose the organizational form which can reduce the risk to produce，and to grasp the control rights of the operation of the organization. This paper provides a possible framework for the analysis of choice of organizational form in multidimensional environments.