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In recent years, listed commercial banks of China come into the market in succession, whose competitive levels are getting more and more attention from academia and practice. This paper establishes evaluating indicator system of the commercial banks, from the capacity of real competitiveness and sustainable development of banks. The data come from the financial statements of five listed commercial banks in 2008. Based on this, using the grey relational model to evaluate the competitiveness of commercial banks, which gets a good result.