This paper takes A-share listed companies from 2015 to 2020 as research samples to empirically test the impact of “national team” shareholding on audit fees. It is found that there is a significant negative correlation between the shareholding of “national team” and audit fees, and the relationship is more significant in the listed companies with imperfect internal control. The influence mechanism study found that “national team” shareholding can reduce audit fees by reducing enterprise risks. In this paper, propensity score matching, differential model and instrumental variables were used to alleviate the endogeneity problem, and the robustness of the regression results was verified. The research shows that the shareholding of “national team” has played an important role in audit fees, which not only extends the economic consequences of “national team”shareholding to the field of audit fees, but also provides new evidence for the factors affecting audit fees.