A synthesized theory model which describes the relationships between customer loyalty and its determin2 ing factors is put forward by integrating current related research result . Based on Chinese IT distribution industry , with the help of a professional survey company , a sample data of 367 actual customers is collected. Then , the cus2 tomer loyalty model is tested by means of the statistical analysis method of structure equation modeling(SEM) . The result shows that customer perceived value , customer satisfaction , customer trust and customer switching cost are the four determinants of customer loyalty , and among them the customer perceived value has the most important affection to customer loyalty. The guidance significance of experimental research conclusions to CRM is discussed.