With A-share listed companies in Shanghai and Shenzhen from 2003 to 2015 as samples, this paper examines the relationship between ownership concentration and dynamic adjustment of capital structure.By group testing, this paper also examines the influence of property rights, enterprise scale and the profit on the relationship between the ownership concentration and the adjustment speed. The results show that the increase of ownership concentration will accelerate the adjustment speed of capital structure. In the sub samples, when the direction of adjustment is downward, the relationship is much more significant, which shows that the effect of ownership concentration on the dynamic adjustment of capital structure is asymmetric. Additionally，we find that non-state-owned enterprise, small and profitable companies can strengthen the function of ownership concentration respectively．