Concerning the low accuracy of identifying relevant Chinese events, a correlation recognition algorithm for Chinese news events based on Grey Relational Analysis (GRA) was proposed, which is a multiple factor analysis method. Firstly, three factors that affect the event correlation, including co-occurrence of triggers, shared nouns between events and the similarity of the event sentences, were proposed through analyzing the characteristics of Chinese news events. Secondly, the three factors were quantified and the influence weights of them were calculated. Finally, GRA was used to combine the three factors, and the GRA model between events was established to realize event correlation recognition. The experimental results show that the three factors for event correlation recognition are effective, and compared with the method only using one influence factor, the proposed algorithm improves the accuracy of event correlation recognition.