Aiming at the paradox of whether standard setting promotes or inhibits enterprise innovation, as well as the unique characteristics of the Chinese context, this paper begins to consider: how does standard setting in the Chinese context affect enterprise innovation? From the perspective of organizational optimization, this paper uses social identity theory and signal theory, combined with the data of Listed manufacturing companies in China, and finds that the standard “endorsement” on the one hand can improve the level of corporate social responsibility investment, resulting in organizational behavior optimization effect; On the other hand, it can lead to the aggregation of high-end talents and the optimization effect of organizational structure, thus promoting enterprise innovation on the whole. From the perspective of innovation quality, standard-setting can increase the output of non-invention patents (utility models and designs) while suppressing the proportion of the number of non-invention patents, which means that standard-setting improves the innovation quality of enterprises. Further analysis shows that compared with state-owned enterprises, standard setting plays a greater role in promoting innovation of private enterprises; compared with enterprises in areas with low marketization degree, standard setting plays a greater role in promoting enterprise innovation in areas with high marketization degree.