Abstract: In order to promote the distributed PV consumption safely, economically and equitably, taking the distributed countywide PV as the research scene, a coordinated configuration method of the medium-and low-voltage distributed network with distributed PV considering the influence of regulation and trading modes is proposed. Firstly, the influence of multi-voltage-level coordination and trading modes on the distributed PV hosting capacity is analyzed. Secondly, with the PV hosting capacity of the two voltage levels as the control variable, a multi-objective optimization model considering the economic benefit and the regulation capability is established. The first goal is to optimize the multi-agent economic. The benefit models of each agent under three trading modes are established and transformed into a single-layer mode by the convex and the Karush-Kuhn-Tucker condition. The second goal is the maximum PV hosting capacity of multi-voltage levels. The voltage regulation ability is considered and the model is solved uniformly with the first goal by using the method of associated control variable. Finally, the efficiency and superiority of the proposed model are verified through the simulation of the medium-and low-voltage distribution network, providing a reference for the coordinated configuration of distributed PV in the multi-voltage-level under the market environment.