Since the beginning of the 21st Century,the theory and practice of new public governance has become increasingly popular. It emphasizes a pluralistic model of public management, focusing not only onresults, but also on processes,especially collaboration and value creation in public service delivery.It believes that the end results of public service delivery and the sustainability of those results do not depend entirely on the products or services provided,but more on the public’s value judgment of them.In public service provision,it is the users who determine and recognize the value and necessity of the service,including their trust in,and satisfaction with,the service.Therefore,public service provision should be a process of value co-creation by service providers and service users.This paper explores the emergence and development of valueco-creation theory,its basic arguments,and what we can draw from it.HongKong’s practice of corruption prevention is used as an example to illustrate the feasibility and necessity of valueco-creation.