Using the price model and income model, this paper empirically researches the related financial data from A share listed companies before and after the implementation of new accounting standards. The empirical researches based on price model show that the net asset per share is significantly positively related to the price of the share and that the earnings per share is significantly negatively related to the price of the share in new accounting standards. The empirical researches based on income model show that the earnings per share is significantly positively related to yearly earnings of the share of the listed company but yearly volatility of the average earnings per share is significantly negatively related to average yearly earning rate of the share in new accounting standards, which reflect the negative influence of financial crisis, and the obvious promotion of fit goodness indicates that new accounting standards have promoted the value relevance of accounting information on the whole. According to current problems, further promotion of accounting information value relevance of listed companies should emphatically solve the problems in the implementation of new accounting standards.