农民工人力资本是农民工城市融入的需要，也是城市建设和产业发展的需要。以往关于农民工人力资本的实证研究往往只关注农民工整体的人力资本状况、提升渠道、培训需求等，并没有系统的研究农民工人力资本积累过程以及各种投资途径、投资主体的影响机理，同时缺乏对农民工群体内部差异的关注。长三角地区是全国农民工的重要输入地，本文以长三角地区的江苏苏州市和浙江台州市农民工为研究对象，分别采用“滚雪球”、随机抽样的问卷调查法，共发放问卷700份，回收问卷668份，获得有效问卷519份，有效率达到77.70%。其中台州地区共发放问卷300份，有效问卷274份，苏州发放问卷400份，有效问卷为245份。在问卷调研的基础上，运用定性与定量相结合的分析方法，首先探讨农民工整体样本迁移后的人力资本积累状况及原因，进而从区域比较的视角，深入分析了两地区农民工人力资本存量、增量、积累渠道的差异，并构建了个体、企业、行业和区域的四维投资主体解释性框架，运用Logistic回归分析法探究各投资主体对两地区新生代农民工人力资本积累的影响。本研究主要得到如下结论：（1）农民工迁移后“干中学”机会的增加和培训渠道的获得有助于其人力资本的积累，但受到行业技能和劳动力市场就业的限制，部分农民工未实现人力资本积累；（2）苏州地区人力资本增量低于台州地区，高人力资本存量优势没有得到有效发挥。非正式学习渠道对农民工人力资本积累作用显著，苏州地区农民工可获得的正式培训机会增多，非正式渠道中的地缘关系对劳动力素质的正效应不容忽视，需要关注和保护农民工群体内部的社会资本；（3）两地农民工人力资本积累均受到个体、行业和区域环境的作用，各投资主体对不同地区农民工人力资本积累作用效果不同。较高的学历水平有助于苏州农民工人力资本的积累，但对台州地区农民工影响不显著。苏州地区行业高学历准入门槛不利于低素质农民工人力资本的积累，对台州地区则不显著。对台州地区而言，行业技能的溢出效应、行业升职机会、区域劳动力市场充足的就业机会等有助于该地区农民工人力资本的积累，但对苏州而言，完善落户制度则有利于农民工人力资本的积累。文章最后从个体、企业、区域等方面提出了具体的对策措施。

As the development of Chinese economy, change in city life attitude of migrant workers, the quality of human capital becomes an important factor of migrant workers’ integration into the urban life. Previous empirical research about migrant workers’ human capital tend to focus on migrant workers’ human capital situation and the promotion channels, etc., but a lack of systematic study on the whole process of migrant workers’ human capital accumulation and the influence mechanism of the investment ways, besides, many studies ignored the internal differences of migrant workers group. This paper intends to explore the influencing factors of migrant workers' human capital accumulation from the regional aspect. Through the case study on Suzhou, Jiangsu and Taizhou, Zhejiang generated by the "snowballing" questionnaire survey and random stratified sampling method in Yangtze river delta region, the author doled out 700 questionnaires, got 519 valid questionnaires, the effective rate was 77.70%. Among them, Taizhou has 300 questionnaires, 274 valid questionnaires, and Suzhou has 400 questionnaires, 245 valid questionnaires. Before study this paper’s core question, the author analysis the overall migrant workers’ human capital accumulation after migration, then choose Suzhou and Taizhou new generation migrant workers as the objects, using comparative analysis to study human capital stock differences and accumulation differences, then exploring the differences of human capital promotion channels, after that, using logistic regression analysis to explore the different roles of different investment subjects plays in affecting the accumulation of human capital. Finally this paper put forward the solutions for improving the human capital from the individual, enterprise, and regional aspects.This paper obtains the following conclusions: (1) most migrant workers’ human capital level are improved, but there are differences between different migrant workers groups, which is affected by the individual investment and environment differences; (2) Human capital stock of migrant workers is higher in Suzhou, but the accumulation is lower. For these two regions, informal learning is the main channel of migrant workers’ human capital growth. Despite the increase in the formal training opportunities to migrant workers in Suzhou, the government should pay attention to the construction of informal learning environment and maintaining social relationships; (3) migrant workers’ human capital accumulation is influenced by individual, industrial and the regional environment, different investment subjects play different roles in improving migrant workers’ human capital. Individuals’ degree level is more outstanding in Suzhou area, but higher degree level entry barriers of industries against low quality migrant workers' human capital accumulation. Favorable regional labor market employment environment and career development opportunity do good to the accumulation of migrant workers’ human capital, Taizhou has a better labor market environment.At last this paper proposes four suggestions for improvement of migrant workers’ human capital: the workers themselves should make full use of human capital advantage, participate in all kinds of professional skills training to improve the ability; the enterprise should pay attention to the contents of the staff training, increase on-the-job vocational skills training; the government needs to strengthen the investment in basic education in rural areas, vigorously develop vocational education, explore reasonable enterprise training skills subsidy policy, push forward the standardization of the migrant workers’ vocational skills training, at the same time, work actively to improve migrant workers living environment; the social training institutions should improve the training qualification, explore migrant workers long-term training system actively, and provide services for the cognizance of professional qualification.