Using　the　annual　report　text　information　of　Chinese　listed　banks　from　2007　to　2020,　this　paper　constructs　multiple　kinds　of　spatial　weight　matrices　from　the　perspective　of　business　similarity　to　identify　the　systemic　risk　spillover　channels.　Furthermore,　the　Bayesian　posterior　probability　methodology　proposed　by　Debarsy　and　LeSage　(2018)　is　employed　to　assess　the　relative　importance　of　each　spillover　channel.　Besides,　we　discuss　the　risk　spillovers　of　specific　factors.　The　empirical　results　show　that　the　loan　type,　loan　region,　investment　industry,　and　income　structure　are　all　effective　risk　spillover　channels,　and　the　loan　type　channel　is　of　the　utmost　importance.　And　also　the　spillover　effects　of　bank-specific　factors　are　identified　and　continuous.　Our　results　are　validated　by　robust　analysis.　©　2023　Elsevier　Inc.