This chapter proposes the triple helix matrix with institution, function, core and field concepts as a tool to examine triple helix development. At the very early stage of an exploratory study, the findings are descriptive, primarily derived through a dialectical analysis of statistical data on Chinese triple helix (CTH). The Matrix study refers to few basic concepts: core, field, institution and function, to constitute the "triple helix matrix". It has a couple of cornerstones: the core-field model based on a cored triple helix thinking; and differentiation of institution from function concepts. The theoretical contribution may include: explaining the difference between the university-run enterprises (UREs) of China and the spin-offs of the US; inventing a Matrix as an analytical tool to examine a growing triple helix system; and analyzing and understanding CTH as an example to use the Matrix. The triple helix model was devised to describe triple helix relationships among university, industry and government spheres.