Abstract: Based on the data of 16 commercial banks in China from 2009 to 2018, this paper empirically analyzes the influence of macro-prudential supervision on the systemic risk of commercial banks by establishing a dynamic panel model. The results show that the implementation of macro-prudential regulation can alleviate the accumulation of systemic risks to a certain extent, and different policy tools have different impacts on the risk, such as higher capital adequacy ratio, provision coverage ratio and loan loss reserve adequacy ratio have a deterrent effect on the risk, but the impact of liquidity ratio on the risk is not significant. At the same time, macro-prudential policy tools have a greater effect on containing state-owned commercial banks' systemic risks than other banks.