Shared Value is a new approach to creating value， which involves the element of corporate social responsibility. It aims to balance the conflict between corporate economic goal and social goal. This study takes 112 Chinese listed manufacturing companies of the electrical machinery and equipment manufacturing industry in HS stock exchange as samples，uses return on equity （ROE） to measure firm performance，uses shared value measures used by enterprises to measure shared value，then applies the content analysis method to collect data for the variable of shared value，and empirically tests the relationship between shared value and firm performance. The study finds that shared value has positive influence on firm performance，which means that the more measures of shared value a firm takes，the better its performance will be. Shared value can make enterprises find the balance point between economic goal and social goal，the enterprises should give up restricted value creation and value enjoyment to create shared value，meanwhile，a lot of shared values which enterprises take are the result of related policies made by government，as a result，government should consider more shared value helpful to enterprises and society when making related policies.