Shared book reading is a well-established practice for boosting children’s language exposure and enhancing early development at home and in child care settings. The present study examined the socioeconomic gaps in home-based and kindergarten-based shared book reading practices in China. The participants were 1095 parents and 111 teachers in 69 classes from kindergartens in Chongqing, China. Differences in terms of the quantity of both home-based and kindergarten-based shared book reading across SES spectrums were tested. Multi-level modelling was conducted to examine the factors associated with the quantity of home-based and kindergarten-based shared book reading. The results revealed that the socioeconomic gap in home-based shared book reading and the resultant language exposure were significant. Family SES and home literacy resources were associated with the quantity of home-based shared book reading and the availability of literacy resources in the classroom is associated with the quantity of kindergarten-based shared book reading. Kindergartens did not mitigate the socioeconomic inequities of language exposure related to shared book reading. Intervention programs shall focus on improving access to both home-based and kindergarten-based literacy materials.