Research Findings: Parental supervision, parental risk perception, and parental risk attitudes constitute an important parenting environment for the development of young children. To examine the mechanisms of Chinese parenting environment on young children's risk-taking behaviors, this study first established a four-factor model and surveyed 497 parents of preschoolers. The results indicated that: (1) Chinese young children's risk-taking was at moderately low level, and parental risk perceptions, parental attitudes and parental supervision were at moderately high level; (2) parental supervision completely mediated the relationship from parental risk perception to children's risk-taking behavior ([beta] = -0.139,95%CI [-0.267, -0.062], p < 0.001); (3) parental supervision partially mediated the relationship from parental risk attitudes to children's risk-taking behavior ([beta] = -0.068, 95%CI [-0.162, -0.027], p < 0.001); (4) this mediation model remained stable cross genders of children ([delta]X[superscript 2] = 12.022, p = 0.799). Practice or Policy: The findings indicated that sufficient support and guidance for parenting should be provided to improve parental risk perceptions, attitudes and supervision which in turn create an environment safe and appropriate for risk-taking of Chinese young children.