Abstract: Using the data of China’s A-share private listed companies，we study the influence political connection makes on risk-taking level. The evidences show that the risk-taking level of private companies with political connection is significantly lower than that of private companies without political connection，and that risk-taking level falls while political connection becomes closer. This study not only deepens our cognition to the economic results of political connection of private companies，but also has implications for speeding up the process of marketization and transforming government functions.