Using panel data of thirteen prefecture-level cities in Jiangsu Province from year 2000 to 2014, this paper integrates financial development into CH model, establishes a threshold model and makes an empirical analysis of the relationship between the import of intermediate goods and technological innovation from the perspective of financial development. The study shows that the import of intermediate goods of Jiangsu Province significantly reveals “double threshold effect” based on the scale of financial development and “single threshold effect” based on the efficiency of financial development. More specific, the synergy of financial development scale and the intermediate goods import promotes technological innovation to increase and then decrease while the role of synergistic effects of the financial development efficiency and the intermediate goods import in promoting technological innovation is on an increasing trend. The results show that: the synergy between financial development and intermediate goods import has promoted technology innovation in Jiangsu Province in different degrees.At the same time the improvement of technological innovation capability should also rely on R&D investment, human capital and FDI international technology spillovers and other means.