Taking the data of China s listed companies of A-share during 2004-2009 as an example and taking Ohlson(1995) Model as basic model,this paper studies the differences of accounting information valuation relevance of new and old accounting principles under varied economic background,further studies the valuation relevance of the statement items with big difference of accounting process under new and old accounting principles.The research results show that the valuation relevance of accounting information is d...