Phasor Measurement Unit (PMU) is one of the data sources of dynamic security monitoring and control in the large-scale regional power grid and smart grid. The measurements accuracy is crucial to the operational reliability of power system. For detecting and evaluating the performance of the PMU uniformly, correctly and reasonably, the new standards are published both at home and aboard. This paper discusses the new version of the PMU steady state and dynamic standards including test methods and accuracy requirements. Furthermore, the mathematical models of the test signals and the calculation method of the real phasor are proposed. The differences between the Chinese standard and IEEE C37.118.1 are analyzed, which include the test methods and error evaluation.