This paper studies the cost efficiency of China's four major state-owned commercial banks and the nine large joint-stock banks in 2008-2013,from the approach of the stochastic frontier theory.The results show that the efficiency of Chinese commercial banks reached a peak in 2009.The efficiency of commercial banks is consistent with the monetary policy in China.Tobit model is used to analyze the macro and micro factors that influence the efficiency of banks' cost.The paper concludes that China's commercial banks should improve the efficiency by controlling the cost and risk,improving non-intere...