The open-winding permanent magnet synchronous motor (OWPMSM) system is a novel high-cost system that uses dual-inverters to control both sides of the stator to improve the performance of the motor. To save the system cost, the three-phase four-switch open-winding permanent magnet synchronous motor (TPFS-OWPMSM) system is proposed to replace the general three-phase six-switch OWPMSM system, but it brings the problem of bridge arm capacitor voltage offset. To solve the instability problem caused by capacitance, this paper carries out the state analysis and offset source analysis of the inverter capacitor voltage, and proposes a dual-inverters capacitor voltage balance control strategy. The capacitor balance control converts unstable capacitor offset voltage into current and injects the currents into the stator current loop through closed-loop correction. And this strategy includes the optimal control of different capacitors under dual-inverters with the goal of system stability. The effectiveness of the balancing strategy is verified by the simulation of various motor working conditions.