Firms' managing earnings to get more bank loans have attracted academic attentions. While, when firms reach the bank loans targets, would they continue to manage earnings to get excess bank loans? This paper studies this question from the aspects of real and accrual-based earnings management using the data of Chinese A-share listed firms from 2003 to 2016. The results show that real and accrual-based earnings management both are positively related to the excess bank loans. In addition, when taking the financial marketization into account, the positive relation between accrual-based earnings management and excess bank loans is weakened, but the relation between real earnings management and excess bank loans is enhanced. This paper expands the study perspectives of earnings quality and credit resources allocation from excess bank loans and enriches the research of the macro environments' influences on firm behaviors.