This paper examines the relationship between the actual controlling shareholder and quality of information disclosure by use of panel data of listed companies from 2007 to 2010 in Shenzhen Stock Exchange. The result shows that a corporation’s quality of information disclosure becomes worse when its actual controlling shareholder is a private unit. And the equity ratio of the actual controlling shareholder is positively related to the quality of information disclosure. However, the divergence of controlling rights from cash flow rights is not statistically related to the quality of information disclosure.