It’s widely recognized that social network has complex effects on economics, politics, law, culture and so on. In China, where the relationship has always been playing an important role, the relationship among actors is of significant importance on economic decision-making, which will further affect resource allocation, enterprise development, and even economic growth. On the one hand, the “economic network” among businessmen may contribute to reducing information asymmetry and transaction costs, improving economic efficiency, and increasing the transparency of public policies. On the other hand, the “political networks” between businessman and politician may create “rent-seeking” and “rent-setting”, which may damage government’s reputation, sometimes maybe even illegal. However, there’s still no detailed research on such questions. Based on the above, using social network analysis methods, this paper studies how different social networks, referred as economic networks and political networks, affect firm value in China. Using the Shanghai and Shenzhen A-share listed companies as the research sample, this paper attempts to answer the following questions: Can corporates benefit from their social relationships? Do different kinds of social networks have different influence on firms’ value? And how different kinds of social networks can influence a firm’s value? Besides, what’s the impact of the anti-corruption campaign, which is launched from the 18th National Congress of the Communist Party of China, on the role of political networks? To answer the questions mentioned above, this paper takes A-share listed firms in China for the period 2008-2016 as the initial sample. After dropping the financial companies and companies with missing variables, we get 14419 firm-year samples finally. We obtain the biographic information, such as graduate university, of businessmen and politicians from CNRDS database. We collect the address of corporates from Wind database, and we collect information about firms’ property right from CCER database. Other accounting data used as control variables in the paper are all collected from CSMAR database. The main findings are as following: Ceteris paribus, a firm’s values is positively correlated with its centrality in both economic network and political network, while economic networks and political networks do have different influence on firms’ value. Specifically, a core position in the economic network is of great help to improve a firm’s value, as economic networks can promote sales growth. A core position in political network is also helpful as it can be an advantage when a firm tries to obtain government support. This paper also examines whether the anti-corruption campaign will influence corporate operation, which may be achieved through social networks. The empirical results show that anti-corruption campaign will weaken political networks’ influence and strengthen economic networks’ value at the same time. The results suggest that the anti-corruption campaign can affect companies’ pricing through different kinds of social networks, which can contribute to a more efficient allocation of resources. This paper makes four contributions to the literature. Firstly, this paper discusses the role enterprises play in macro social system, which is a positive supplement to socioeconomics research. Secondly, this paper studies the impact of social environment and social capital on corporate activities in China, which deepens the micro-research of corporate finance. Thirdly, this paper introduces social network analysis methods from sociology, which can break through the limitations of the point-to-point research in the existing economic literature and promote the cross-learning of different social sciences as well. Last but not least, this paper also examines the impact of anti-corruption campaign on different kinds of social networks and firm value, which is of reference value for the evaluation of China's anti-corruption campaign from the 18th National Congress of the Communist Party of China.