The result of empirical analysis shows that the average of the private benefits of controlling shareholders is about 18%,which is near to that of the emerging market country,but higher than that of the developed market economy country;the private benefits of controlling shareholders is negatively associated with legal system,the size of the com- pany,profit position,the ratio of debt financing,the structure of the debt financing and the total shares held by the sec- ond to fifth largest shareholder;there is a positive correlation between the industry protection of company,shares of the controlling shareholders and the private benefits of controlling shareholders.