Existing parenting research in sociology is dominated by a class analysis approach, which assumes a strong relationship between family resources and parenting behaviours. This relationship, however, is found to be weak in contexts such as China. In this study, I propose a theoretical model that takes account of parental valuation of children and explore its implications for parenting practices. Using this theoretical model, I analyse data from the 2014 survey of the China Family Panel Study and report the following findings. First, Chinese parents predominantly value a child figure who is “emotionally priceless and educationally achieving”. Second, parents who report higher emotional value and achievement value of their children are also significantly more likely to adopt intensive parenting practices. Last, family socioeconomic resources and parents’ valuation of children are complementary in affecting different dimensions of parenting: whereas family SES is positively correlated with parents’ investment in children’s education, parents’ perceived values of children (particularly the emotional value) exert strong effects on parental involvement in various ways to boost children’s academic performance. I conclude the article by ruminating on the theoretical and policy implications of this study.