An electronic expansion valve includes a valve component for adjusting the flow of fluid. The valve component includes a valve body, a valve seat provided in the valve body, a valve needle able to open and close the valve seat, an actuating mechanism driving the axial movement of the valve needle and a drive mechanism supplying the actuating mechanism with motive power. The actuating mechanism includes a spindle able to move axially. The electronic expansion valve further includes an electromagnetic retaining mechanism for retaining the spindle. The valve is constructed such that when electricity is supplied to the electromagnetic retaining mechanism, the spindle is retained in a first axial position where the valve needle can adjust the opening degree of the valve seat; when the electricity to the electromagnetic retaining mechanism is cut, the spindle is released into a second axial position where the valve needle closes the valve seat.