Profitability of China’s commercial banks has increased significantly since it joined the World Trade Organization (WTO). Constantly advancing of deepening the reform and increasingly fierce of international competition make us to be concerned more about macroeconomic factors. This paper makes an empirical analysis with a panel of 10 Chinese listed banks during the period 1998- 2012 to make a study of the potential impact of external factors may bring to China’s capital market. The results confirm that macroeconomic do have a substantial influence to the earning power of commercial banks, according to which some suggestions are made at the end of the paper.