This article presented the result of a comparative research on the Top-ten International News Reports voted in China and the United States between 2006 and 2010. The research was aimed at exploring the convergences and divergences of Chinese and Western news value perceptions. It is primarily concerned with two questions: What are the factors determining news worthiness in China and the United States? What are the similarities and differences between Chinese and Western journalism theories and practices? Chinese and Western news value theories were reviewed to establish the theoretical framework for content analysis and discussion of the analysis result. The research found that despite ideological and cultural distinctions, there were considerable similarities between Chinese and Western news value theories. However, significant disparities were found in practices of news selection and construction in China and the United States. The research results demonstrated the dual aspects of the globalising media system: the increasing interconnection and homogenisation between national media systems, and the reinforced segmentation and localities of the world information communication.