Under the background of globalization, many countries have begun to implement "knowledge economy". By analyzing the development of knowledge economy, this paper further reveals how the university system can participate in the process of globalization more directly, thus highlighting the key role that universities can play in the process of globalization and knowledge economy: promoting the generation and transmission of knowledge and closely contacting commercial institutions through teaching and scientific research. This study will provide beneficial enlightenment for the national government to formulate a higher education strategy that is conducive to maximizing the role of universities and promoting the transfer of university knowledge and economic development.