The social governance in urban agglomeration areas of "Two New" Organizations has fallen into the public participation dilemma due to individualization, the organizational participation dilemma due to heterogeneity and the institutional transformation dilemma due to technology. Taking the innovative social governance of Lujiazui Financial Area, Shanghai, as an example, this paper analyzes the unique mechanism of social governance led by the Communist Party of China besides the state-society dichotomy from the aspects of governance mode, governance method and governance field, and then examines the public value and realization path behind this unique mechanism.